- ComfortDelGro’s 1H25 results were in line, with a stronger 2H25 expected. Both public transport (PT) and taxi & private hire (TPH) EBIT rose >20%. PT margins are set to improve from UK operations while TPH’s Singapore revenue is expected to stay stable.
- - Read this at SGinvestors.io -
The 9th consecutive quarter of y-o-y PATMI growth
- ComfortDelGro delivered its ninth consecutive quarter of y-o-y PATMI growth, with solid and in-line 1H25 results. Revenue rose on the back of full-year contributions from acquisitions (Addison Lee, CMAC Group, and A2B Australia) and the start of the Metroline Manchester contract in Jan 2025. PATMI grew 11.2% y-o-y, though margins eased slightly to 4.4% (1H24: 4.5%).
- - Read this at SGinvestors.io -
- Capex is expected to remain elevated in 2025 before normalising in 2026, driven by contract-backed investments and fleet electrification.
- Net gearing stands at 16.6%, with a peak below 20% guided. At a 30% gearing level, ComfortDelGro retains approximately S$0.5bn in borrowing capacity for future M&A.
Public transport (PT)
- Read more at SGinvestors.io.
