- ComfortDelGro (SGX:C52) is set to release its full-year 2024 financial results on 27 February, after market closes (see Earnings Calendar).
Strong rail ridership.
- - Read this at SGinvestors.io -
- With higher domestic rail ridership, we reckon that the ongoing upward momentum in domestic rail ridership would help support revenue growth for ComfortDelGro’s public transport segment in 4Q24.
- - Read this at SGinvestors.io -
Ride-hail trips remain high.
- Street-hailing trips, which are exclusive only to taxi drivers, had been on a constant downtrend and were at their lowest in Nov 24.
- On the other hand, 89.3% of total point-to-point (P2P) average daily trips in Singapore were ride-hailing trips, up slightly from 89.2% in Oct 24. However, with ongoing stiff domestic competition, ComfortDelGro’s online taxi booking volumes through its Zig app have been trending downwards. Furthermore, as two new ride-hailing service providers, Geo Lah and Trans-cab Services, enter the domestic market in 1Q25, we see furthermore downside risks to ComfortDelGro’s online booking volumes, impacting its taxi commission.
Increasing global exposure.
- Read more at SGinvestors.io.
