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SATS (SGX:S58) reported FY26 PATMI of S$285.2m (+17.0% y-o-y), in line with our estimates. The result was underpinned by record revenue of S$6.35b (+9.0% y-o-y), driven by resilient cargo and gateway operations despite ongoing geopolitical disruptions.
- - Read this at SGinvestors.io -
Temporal margin disruption
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SATS' FY26 group revenue rose 9.0% y-o-y to a record S$6.35bn, driven by resilient cargo and gateway operations. Cargo tonnage and flights handled increased 7.0% and 3.2% y-o-y, respectively, while aviation and non-aviation meals served grew 4.1% and 2.2% y-o-y, respectively. 2HFY26 operating profit rose 10.7% y-o-y to S$260.7m despite ongoing Middle East tensions, although 4Q26 EBITDA margin compressed 0.9ppt y-o-y to 16.5% due to operational disruptions and ramp-up costs.
- - Read this at SGinvestors.io -
Network and rerouting offset Middle East impact
- Read more at SGinvestors.io.
Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.
Liu Miao Miao Maybank Research | Eric Ong Maybank Research | https://www.maybanktrade.com.sg/ 2026-05-26
Previous report by Maybank:
2026-03-24 SATS - Limited Direct Exposure To Middle East; Resilient To Oil Price Surge.
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
