- Singapore Airlines (SIA, SGX:C6L) reported headline FY24 net profit of S$2,675mil (+24% y-o-y), but core net profit (assuming a normalised tax rate as SIA recorded a one-off tax credit and several one-off items including gains on asset disposals and write-offs related to SIA Engineering (SGX:S59) exiting an engine programme) amounted to S$2,478mil, coming in 1.4% and 3.3% below our and the street’s estimates respectively.
4QFY24 results slightly above ours while in line with consensus estimates.
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
Credit metrics are stronger compared to pre-pandemic levels.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Jason SUM CFA DBS Group Research | Tabitha FOO DBS Research | Paul YONG CFA DBS Research | https://www.dbs.com/insightsdirect/ 2024-05-17
Previous report by DBS:
2024-02-22 Singapore Airlines - Dual Turbulence - Navigating Pricing & Cost Pressures.
Price targets by 3 other brokers at SIA Target Prices.
Listing of research reports at SIA Analyst Reports.
Relevant links:
SIA Share Price History,
SIA Announcements,
SIA Dividends & Corporate Actions,
SIA News Articles
