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Transportation

Singapore Airlines Ltd.

  • 9.34 SGD
  • -0.05
  • -0.53%
  • Singapore
    Nov 16, 2018
  • Ticker
    SES(C6L)
  • Prev. close
    9.39
  • Market cap (SGD)
    11,266.60M
  • Market cap (USD)
    8,207.02M
  • Shares
    1,199.85M

Company Background

Singapore Airlines (SIA) considers itself a "premium" airline. It prides itself on quality service, differentiating itself from its fast-growing low-cost peers. Wholly owned subsidiary SilkAir flies short-haul regional routes, also providing premium services. Goh Choon Phong has been the airline operator's CEO since December 2010; he has been with Singapore Airlines since 1990. The airline began as Malayan Airways in 1947 before going independent under its current name. Singapore sovereign wealth fund Temasek Holdings owns more than 50% of the company.

SIA has stakes in two low-cost carriers. Tiger Airways Holdings was established in 2004 and now operates in Asia and Australia under the Tigerair brand. It is restructuring after posting three consecutive annual losses. Wholly owned Scoot, set up in 2011 to handle middle- to long-haul routes, is reportedly loss-making. After selling off a 49% stake in Virgin Atlantic to Delta Air Lines, SIA shifted its attention to India. Vistara, a New Delhi-based joint-venture with the Tata Group will initially fly only over India, though plans are to assign it international routes once regulatory approvals are given.

Business Summary

Singapore Airlines Ltd. engages in passenger and cargo air transportation. It operates through the following segments: Singapore Airlines, SilkAir, Budget Aviation, SIA Engineering Company, SIAEC Cargo, and Singapore Airlines Cargo. The Singapore Airlines segment provides passenger air transportation under the Singapore Airlines brand with a focus on full-service passenger serving short and long haul markets. The SilkAir segment covers passenger air transportation under the SilkAir brand with a focus on full-service passenger serving regional markets. The Budget Aviation segment consists of passenger air transportation under the Tiger Airways and Scoot brands with a focus on the low-cost passenger. The SIAEC segment provides airframe maintenance and overhaul services, line maintenance, technical ground handling services and fleet management. The Singapore Airlines Cargo segment involves in air cargo transportation and related activities. The company was founded on January 28, 1972 and is headquartered in Singapore.

Financial Highlights

Mar 2018 SGDUSD
Revenue15,806.10M11,651.49M
Gross Profit1,913.40M1,410.46M
Operating income1,102.80M812.93M
Income before tax1,101M811.60M
Net income892.90M658.20M
EBITDA2,786.80M2,054.29M
Diluted EPS0.750.55
Dividends Per Share0.400.29
Total Assets27,678.10M21,107.27M
Total liabilities13,058.80M9,958.62M
Total equity14,251.20M10,867.94M
Operating cash flow2,714.40M2,000.92M
Currency in SGDCurrency in USD

Historical Data

 Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018
Revenue 15,243.90M 15,565.50M 15,238.70M 14,868.50M 15,806.10M
Gross Profit 1,338.20M 1,608.70M 1,679.70M 1,463M 1,913.40M
Operating income -25.70M 938.30M 939.50M 659.40M 1,102.80M
Income before tax 319.10M 520M 972.40M 518.60M 1,101M
Net income 359.50M 367.90M 804.40M 360.40M 892.90M
EBITDA 1,575.50M 2,503M 2,515.20M 2,251.30M 2,786.80M
Diluted EPS 0.30 0.31 0.68 0.30 0.75
Dividends Per Share 0.21 0.22 0.45 0.20 0.40
Total Assets 22,751M 24,236.90M 24,130.60M 24,854.70M 27,678.10M
Total liabilities 9,176.40M 11,306.80M 10,997.70M 11,384.50M 13,058.80M
Total equity 13,237.20M 12,463.60M 12,754.70M 13,083M 14,251.20M
Operating cash flow 2,303.90M 2,209M 3,224.30M 2,693M 2,714.40M
 Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018
Revenue 12,109.41M 12,079.84M 10,990.85M 10,744.39M 11,651.49M
Gross Profit 1,063.03M 1,248.45M 1,211.47M 1,057.20M 1,410.46M
Operating income -20.41M 728.18M 677.61M 476.50M 812.93M
Income before tax 253.48M 403.55M 701.33M 374.75M 811.60M
Net income 285.57M 285.51M 580.17M 260.43M 658.20M
EBITDA 1,251.54M 1,942.49M 1,814.07M 1,626.85M 2,054.29M
Diluted EPS 0.24 0.24 0.49 0.21 0.55
Dividends Per Share 0.16 0.17 0.32 0.14 0.29
Total Assets 18,091.52M 17,669.24M 17,919.64M 17,787.66M 21,107.27M
Total liabilities 7,297.04M 8,242.91M 8,167.01M 8,147.49M 9,958.62M
Total equity 10,526.18M 9,086.24M 9,471.78M 9,363.05M 10,867.94M
Operating cash flow 1,830.16M 1,714.32M 2,325.51M 1,946.03M 2,000.92M

Valuation Measures

Mar 2018
PER14.35
ROA3.39%
ROE6.53%
Operating margin6.97%
Profit margin5.64%

Key executives

  • CEO & Non-Independent Executive Director: Choon Phong Goh
  • EVP-Human Resources & Operations: Chin Hwee Ng
  • Senior Vice President-Finance: Stephen Barnes
  • Senior Vice President-Information Technology: Wei Jun Wang
  • Executive Vice President-Commercial: Swee Wah Mak

Shareholders

  • Temasek Holdings Pte Ltd. (Investment Company) (54.7%)
  • BlackRock Fund Advisors (1.4%)
  • Singapore Airlines Ltd. (1.3%)
  • The Vanguard Group, Inc. (1.1%)
  • Norges Bank Investment Management (0.8%)
  • Dimensional Fund Advisors LP (0.6%)
  • BlackRock Advisors (UK) Ltd. (0.2%)
  • DWS Investment Management Americas, Inc. (0.1%)
  • Geode Capital Management LLC (0.1%)
  • Estate of Chang Shyh Jin (0.1%)

Contact Details

Related Companies

  • Scoot Tigerair Pte Ltd.
  • Singapore Airlines Korea
  • Singapore Airlines Ltd. (Ireland)
  • Silkair (Singapore) Pte Ltd.
  • RCMS Properties Pvt Ltd.
  • Singapore Aviation & General Insurance Co. Pte Ltd.
  • Singapore Airlines Ltd. Sucursal en Espana
  • Singapore Airlines Cargo Pte Ltd. (California)
  • Singapore Airlines Cargo Pte Ltd.
  • Tiger Airways Holdings Pte Ltd.
  • SIA Properties Pte Ltd.
  • SIA Engineering Co. Ltd.

Competitors

  • Qantas Airways Limited
  • PT Garuda Indonesia (Persero) Tbk Class B
  • Cebu Air Inc.
  • China Airlines Ltd.
  • PAL Holdings, Inc.
  • Air France-KLM SA
  • China Southern Airlines Company Limited Class H
  • MakeMyTrip Ltd.
  • Asiana Airlines Inc.
  • JG Summit Holdings Inc.
  • Asia Aviation Public Co., Ltd.
  • Spring Airlines Co., Ltd. Class A
  • Nippon Yusen Kabushiki Kaisha
Last Updated on 16 Nov, 2018

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