- SIA’s 2QFY25 headline net profit of S$290m (-59% y-o-y, -36% q-o-q) came in below our guided range of S$360m-460m, due to slightly higher-than-expected operating costs.
- While pax travel and cargo demand are robust, SIA’s core profitability is likely to stay in an overall moderating trend in FY25-26, as pax and cargo yields remain under pressure amid an increased capacity supply.
- - Read this at SGinvestors.io -
SIA's 2Q/1HFY25 earnings missed expectations...
- Singapore Airlines (SIA)’s 2QFY25 headline net profit of S$290m (-59% y-o-y, -36% q-o-q) came in below our guided range of S$360m- 460m.
- Excluding non-core items such as gains/losses from fuel hedge, disposals and/or forex translation, 1HFY25 core net profit fell 41% y-o-y to S$669m by our estimate, forming 38% of our full-year forecast. This is deemed a miss, even though 2H could be seasonally stronger.
- - Read this at SGinvestors.io -
…due mainly to slightly higher-than-expected operating costs.
- Read more at SGinvestors.io.
Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.
Roy Chen CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-11-12
Read also UOB's most recent report:
2025-01-16 SIA - Expect Decent Core Earnings In 3QFY25; But High Valuation A Concern.
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
