- After excluding several one-off items, notably a S$25.1mil write-off from the exit from the P&W1500G engine Risk-Revenue Sharing Programme (RRSP), SIA Engineering’s FY24 core net profit surged 93.1% y-o-y to S$121mil.
4QFY24 results beat expectations.
- - Read this at SGinvestors.io -
Overall business activity has nearly normalised.
- SIA Engineering's FY24 revenue of S$1,094.2mil (+37.5% y-o-y) largely met our expectations, with the number of flights handled by SIA Engineering’s line maintenance unit at Changi Airport soaring to 94.4% of pre-pandemic levels in Mar-24, up from 78.7% in Mar-23, and the number of ‘A’ checks surging by 36.1% y-o-y, in tandem with increased aircraft utilisation regionally.
- - Read this at SGinvestors.io -
- Meanwhile, engine output from SIA Engineering’s own engine shops also gained momentum in 2HFY24, driving 24% h/h growth in segmental revenue.
Slight positive surprise in contribution from associates and JVs.
- Read more at SGinvestors.io.
