SATS 3Q PATMI improves to S$31.5M boosted by strong seasonal demand

29th February 2024

  • SATS delivers steady business performance with revenue increasing 6.5% QoQ to S$1.4 billion driven by ongoing travel recovery and strong seasonality impact
  • 3Q FY24 EBITDA plus SoAJV margin rose to 18.3% from 17.0% in the previous quarter, lifted by revenue growth and operating leverage as well as increased contribution from Associates and JVs
  • 3Q FY24 operating cash flow (before lease payments) increased to S$172.3 million from S$35.4 million in the previous quarter
  • Refinancing efforts are bearing fruit with significant financial savings and continuing to drive improvements in debt position

SATS Ltd. (“SATS” or the “Company” and its subsidiaries, the “Group”) today reports its financial performance for the three months ended 31 December 2023 (3Q FY24) and nine months ended 31 December 2023 (9M FY24).

HIGHLIGHTS OF THE GROUP’S UNAUDITED RESULTS:

Notes:
FY24 refers to the financial year from 1 April 2023 to 31 March 2024.
(1) Core PATMI refers to net profit attributable to owners of the Company excluding one-off items.
(2) EBITDA refers to earnings before interest, tax, depreciation and amortisation.
(3) Earnings per share (basic) is computed by dividing profit attributable to owners of the Company by the weighted average number of fully paid shares in issue. Loss per share for 9M FY23 was restated due to rights issuance in March 2023.
(4) Return on equity (“ROE”) is profit attributable to owners of the Company expressed as a percentage of the average equity holders’ funds for the respective periods (non-annualised).
n.m. – not meaningful