Singapore Airlines (SIA) - UOB Kay Hian 2024-05-17: FY24 in Line; Expect Moderating But Decent Performance In FY25

Singapore Airlines (SIA) - FY24 in Line; Expect Moderating But Decent Performance In FY25

Published:
SIA (SGX:C6L) | SGinvestors.ioSIA (SGX:C6L)
  • We expect SIA’s earnings to go downhill in the next two years, driven by pax and cargo yield moderation as competition catches up, but still meaningfully above pre-pandemic levels with SIA’s strengthened market leading position.

SIA's FY24 results in line.

  • - Read this at SGinvestors.io -
  • Group revenue rose 7.0% y-o-y in FY24, driven by recovery in both pax (+26.6% y-o-y) and cargo volume (+1.7% y-o-y), but offset by moderated pax (-7.6% y-o-y) and cargo (-42.2% y-o-y) yields.

Final dividend of 38 cents slightly above expectations.

  • - Read this at SGinvestors.io -
  • SIA's dividends of 48 cents for FY24 was slightly higher than our expected range of 38-45 cents.

Redeeming all remaining MCBs as expected.

  • Read more at SGinvestors.io.




Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.




Roy Chen CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-05-17



Previous report by UOB:
2024-04-17 Singapore Airlines - Pax Data Slightly Better Than Expected, But Cargo Misses In Mar 24.

Price targets by 2 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





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