SIA Group reports strong operating profit growth in 4Q and FY2016

SIA Group revenue down 4% - financial highlights:

• Three months ended 31-Mar-2016:
• • Revenue: SGD3709 million (USD2645 million), -4.4% year-on-year;
  • Costs: SGD3556 million (USD2535 million), -6.1%;
  • • Fuel: SGD924 million (USD658.7 million), -28.1%;
    • Labour: SGD637.8 million (USD454.7 million), +8.1%;
  • Operating profit (loss): SGD153.2 million (USD109.2 million), +66.7%;
  • • Singapore Airlines: SGD98 million (USD69.9 million, +40.0%;
    • SIA Engineering: SGD27 million (USD19.3 million), +17.4%;
    • SilkAir: SGD32 million (USD22.8 million), +77.8%;
    • SIA Cargo: (SGD40 million) (USD28.5 million), compared to a loss of SGD5 million (USD3.7 million) in p-c-p;
    • Scoot: SGD32 million (USD22.8 million), compared to a loss of SGD6 million (USD4.4 million) in p-c-p;
    • Tiger Airways: SGD15 million (USD10.7 million), compared to a loss of SGD13 million (USD9.6 million) in p-c-p;
  • Net profit: SGD234 million (USD166.8 million), +451%;
  • • Passenger load factor:
    • Singapore Airlines: 78.5%, +2.4 ppts;
    • SilkAir: 71.6%, +2.5 ppts;
    • Scoot: 86.1%, +0.6 ppt;
    • Tiger Airways: 82.5%, +3.5 ppts;
  • Passenger breakeven load factor:
  • • Singapore Airlines: 78.3%, -0.6 ppt;
    • SilkAir: 64.4%, -1.6 ppt;
    • Scoot: 71.7%, -25 ppts;
    • Tiger Airways: 78.1%, -4.1 ppts;
  • Passenger yield:
  • • Singapore Airlines: SGD 10.6 cents (USD 7.6 cents), -7.0%;
    • SilkAir: SGD 13.5 cents (USD 9.6 cents), -8.2%;
    • Scoot: SGD 6.0 cents (USD 4.3 cents), stable;
    • Tiger Airways: SGD 7.3 cents (USD 5.2 cents), stable;
  • SIA Cargo freight volume: 293,000 tonnes, +6.0%;
  • SIA Cargo yield: SGD 26.8 cents (USD 19.1 cents), -15.5%;
• 12 months ended 31-Mar-2016:
• • Revenue: SGD15,229 million (USD10,991 million), -2.2%;
  • Costs: SGD14,547 million (USD10,500 million), -4.0%;
  • • Fuel: SGD4527 million (USD3267 million), -18.9%;
    • Labour: SGD2461 million (USD1776 million), +5.4%;
  • Operating profit (loss): SGD681.2 million (USD491.7 million), +66.4%;
  • • Singapore Airlines: SGD485 million (USD350.1 million), +42.6%;
    • SIA Engineering: SGD104 million (USD75.1 million), +23.8%;
    • SilkAir: SGD91 million (USD65.7 million), +122%;
    • SIA Cargo: (SGD50 million) (USD36.1 million), compared to a loss of SGD22 million (USD17.1 million) in p-c-p;
    • Scoot: SGD28 million (USD20.2 million), compared to a loss of SGD67 million (USD52.1 million) in p-c-p;
    • Tiger Airways: SGD14 million (USD10.1 million), compared to a loss of SGD9 million (USD7.0 million) in p-c-p;
  • Net profit: SGD851.8 million (USD614.8 million), +109%;
  • Passenger load factor:
  • • Singapore Airlines: 79.6%, +1.1 ppt;
    • SilkAir: 71.5%, +1.3 ppt;
    • Scoot: 84.5%, +2.3 ppts;
    • Tiger Airways: 83.3%, +1.1 ppt;
  • Passenger breakeven load factor:
  • • Singapore Airlines: 80.2%, +0.7 ppt;
    • SilkAir: 66.7%, -3.1 ppts;
    • Scoot: 83.9%, -19.7 ppts;
    • Tiger Airways: 82.9%, -5.3 ppts;
  • Passenger yield:
  • • Singapore Airlines: SGD 10.6 cents (USD 7.7 cents), -5.4%;
    • SilkAir: SGD 13.5 cents (USD 9.7 cents), -2.9%;
    • Scoot: SGD 5.6 cents (USD 4.0 cents), stable;
    • Tiger Airways: SGD 7.0 cents (USD 5.1 cents), +2.9%;
  • SIA Cargo freight volume: 1.2 million tonnes, +4.1%;
  • SIA Cargo yield: SGD 29.0 cents (USD 20.9 cents, -11.6%;
  • Total asset: SGD23,770 million (USD17,156 million);
  • Cash and bank balances: SGD3972 million (USD2867 million);
  • Total debt: SGD1348 million (USD972.6 million). [more - original PR]

*Based on the average conversion rate at SGD1 = USD0.712926 for three months ended 31-Mar-2016
*Based on the average conversion rate at SGD1 = USD0.737339 for three months ended 31-Mar-2015
*Based on the average conversion rate at SGD1 = USD0.72177 for 12 months ended 31-Mar-2016
*Based on the average conversion rate at SGD1 = USD0.776829 for 12 months ended 31-Mar-2015