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SATS (SGX:S58) reported a 9.8% y-o-y increase in 4QFY26 revenue to S$1.6b. Growth was broad-based: Gateway Services revenue rose 11.5% y-o-y to S$1.3b, with cargo handled up 4.7% y-o-y at 2.35m tonnes, while Food Solutions revenue was 4.0% higher y-o-y at S$344.3m, with gross meals produced up 7.7% y-o-y to 28.2m.
Earnings in line.
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Together with a 4.2% y-o-y improvement in share of results of associates/joint ventures (SoAJV) to S$22.2m, and impairment charges of S$13.3m, 4QFY26 PATMI rose 31.0% y-o-y to S$50.7m.
Dividends beat.
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Limited direct exposure to the Middle East.
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