- SIA's FY25 core net profit missed our projection. The final dividend of 30 cents was a positive surprise, but this level of dividend is likely unsustainable.
- - Read this at SGinvestors.io -
Headline earnings in line, but core profitability missed due to higher-than-expected non-fuel cost.
- Singapore Airlines (SIA , SGX:C6L)’s headline net profit of S$410m (-28.7% y-o-y) came in in line with our guidance of S$400m, with full-year net profit at 100% of our forecast. However, note that the 4QFY25 headline net profit was significantly aided by a sizeable reversal of tax overprovision from previous years. Excluding one-off items, the FY25 core operating profit and core net profit formed 94% and 97% of our full-year forecasts, respectively.
- - Read this at SGinvestors.io -
SIA's final dividend of 30 cents above expectations.
- Read more at SGinvestors.io.
