SATS - UOB Kay Hian 2025-05-26: FY25 Core Profit A Slight Beat; Still Aiming For Cargo Volume Growth In FY26

• Upgrade SATS to BUY. Despite the ongoing tariff uncertainties, management reaffirmed its target for positive cargo volume growth in FY26, backed by new commercial wins.
• While we are largely cautious on the global trade outlook, we reckon that market sentiment toward SATS could turn more bullish if the company delivers even modest growth.

FY25 core earnings a slight beat…

• - Read this at SGinvestors.io -
• Excluding one-off items, including forex gains/losses and an impairment loss of S$7.9m on an investment in Worldwide Cruise Terminal in Hong Kong in 4QFY25, SATS’s FY25 core net profit of S$260.1m (+199% y-o-y) is a slight beat to our expectations, at 103.8% of our full-year forecast.
• - Read this at SGinvestors.io -

…due to solid cargo performance in 4QFY25.

• 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/.

Read also UOB's most recent report:
2026-03-02 SATS - 3QFY26 Results A Solid Beat; Strong Cargo Performance Demonstrates Resilience Of Global Network.

Previous report by UOB:
2025-11-17 SATS - 2QFY26 Results A Solid Beat; Strong Cargo Performance Demonstrates Resilience Of Its Global Network.

Price targets by 4 other brokers at SATS Target Prices.

Listing of research reports at SATS Analyst Reports.

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