- SATS (SGX:S58) reported 3Q24 net profit of S$31.5mil, which included S$3.1mil profit from WFS. The 9M24 net profit of S$23.7mil is in line with our FY24e estimates of S$66mil, before an estimated S$30mil amortization of intangible assets. The amount will be finalized in March 2024. Only limited financial information was provided in the 3Q24 update.
- - Read this at SGinvestors.io -
- Looking ahead, growth will be led by overseas operations in China, India and Indonesia, and lower interest costs through refinancing of debt. Net debt was flat q-o-q at S$2.2bn, and net gearing was 0.9x.
The Positives
Net profit improved
- - Read this at SGinvestors.io -
- Associates’ contributions improved, led mainly by India, Hong Kong, and Frankfurt.
The Negatives
3Q24 EBIT margin of 8.8% is still below the mid-teens level during pre-pandemic.
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Peggy Mak Phillip Securities Research | https://www.stocksbnb.com/ 2024-03-04
Read also Phillip's most recent report:
2024-09-05 SATS - Across The Board Tailwind.
Previous report by Phillip:
2024-08-21 SATS - Aviation Recovery Continues.
Price targets by 2 other brokers at SATS Target Prices.
Listing of research reports at SATS Analyst Reports.
Relevant links:
SATS Share Price History,
SATS Announcements,
SATS Dividends & Corporate Actions,
SATS News Articles
