Singapore Airlines - DBS Research 2024-05-17: Leaving The Best Days Behind For Now

• 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 an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-05-19 Singapore Airlines - Caught In Crosswinds.

Previous report by DBS:
2025-02-24 Singapore Airlines - Soft Landing.

Price targets by 4 other brokers at SIA Target Prices.

Listing of research reports at SIA Analyst Reports.

Relevant links:
SIA Share Price History,
SIA Announcements,
SIA Dividend Payout Dates & Corporate Actions,
SIA News