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Transportation

Singapore Airlines Ltd.

  • 10.79 SGD
  • +0.04
  • +0.37%
  • Singapore
    Apr 25, 2018
  • Ticker
    SES(C6L)
  • Prev. close
    10.75
  • Market cap (SGD)
    12,898.39M
  • Market cap (USD)
    9,724.56M
  • 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, SIA Cargo, and Others. 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 SIA Engineering Company segment comprises of airframe maintenance and overhaul services, line maintenance, technical ground handling services, and fleet management. The SIA 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 2017 SGDUSD
Revenue14,868.50M10,744.39M
Gross Profit1,463M1,057.20M
Operating income659.40M476.50M
Income before tax518.60M374.75M
Net income360.40M260.43M
EBITDA2,251.30M1,626.85M
Diluted EPS0.300.21
Dividends Per Share0.200.14
Total Assets24,854.70M17,787.66M
Total liabilities11,384.50M8,147.49M
Total equity13,083M9,363.05M
Operating cash flow2,693M1,946.03M
Currency in SGDCurrency in USD

Historical Data

 Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017
Revenue 15,098.20M 15,243.90M 15,565.50M 15,238.70M 14,868.50M
Gross Profit 1,349.20M 1,338.20M 1,608.70M 1,679.70M 1,463M
Operating income 161.10M -25.70M 938.30M 939.50M 659.40M
Income before tax 482M 319.10M 520M 972.40M 518.60M
Net income 378.90M 359.50M 367.90M 804.40M 360.40M
EBITDA 1,772.90M 1,575.50M 2,503M 2,515.20M 2,251.30M
Diluted EPS 0.31 0.30 0.31 0.68 0.30
Dividends Per Share 0.23 0.21 0.22 0.45 0.20
Total Assets 22,501.10M 22,751M 24,236.90M 24,130.60M 24,854.70M
Total liabilities 9,083.80M 9,176.40M 11,306.80M 10,997.70M 11,384.50M
Total equity 13,104.70M 13,237.20M 12,463.60M 12,754.70M 13,083M
Operating cash flow 2,034.60M 2,303.90M 2,209M 3,224.30M 2,693M
 Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017
Revenue 12,147.27M 12,109.41M 12,079.84M 10,990.85M 10,744.39M
Gross Profit 1,085.50M 1,063.03M 1,248.45M 1,211.47M 1,057.20M
Operating income 129.61M -20.41M 728.18M 677.61M 476.50M
Income before tax 387.79M 253.48M 403.55M 701.33M 374.75M
Net income 304.84M 285.57M 285.51M 580.17M 260.43M
EBITDA 1,426.38M 1,251.54M 1,942.49M 1,814.07M 1,626.85M
Diluted EPS 0.25 0.24 0.24 0.49 0.21
Dividends Per Share 0.18 0.16 0.17 0.32 0.14
Total Assets 18,137.16M 18,091.52M 17,669.24M 17,919.64M 17,787.66M
Total liabilities 7,322.05M 7,297.04M 8,242.91M 8,167.01M 8,147.49M
Total equity 10,563.13M 10,526.18M 9,086.24M 9,471.78M 9,363.05M
Operating cash flow 1,636.93M 1,830.16M 1,714.32M 2,325.51M 1,946.03M

Valuation Measures

Mar 2017
PER33.01
ROA1.47%
ROE2.78%
Operating margin4.43%
Profit margin2.42%

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%)
  • Singapore Airlines Ltd. (1.4%)
  • BlackRock Fund Advisors (1.4%)
  • The Vanguard Group, Inc. (1.0%)
  • Norges Bank Investment Management (0.8%)
  • Dimensional Fund Advisors LP (0.5%)
  • APG Asset Management NV (0.2%)
  • Deutsche Investment Management Americas, Inc. (0.2%)
  • Geode Capital Management LLC (0.1%)
  • BlackRock Advisors (UK) Ltd. (0.1%)

Contact Details

Related Companies

  • Scoot Tigerair Pte Ltd.
  • Singapore Airlines Korea
  • Singapore Airlines Ltd. (Ireland)
  • Silkair (Singapore) Pte Ltd.
  • RCMS Properties Private 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 Limited
  • SIA Properties Pte Ltd.
  • SIA Engineering Co. Ltd.

Competitors

  • China Eastern Airlines Corporation Limited Class H
  • Qantas Airways Limited
  • PT Garuda Indonesia (Persero) Tbk Class B
  • China Airlines Ltd.
  • PAL Holdings, Inc.
  • Air France-KLM SA
  • China Southern Airlines Company Limited Class H
  • 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 25 Apr, 2018

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