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Transportation

Singapore Post Ltd.

Company Background

Singapore Post has roots in a mail office set up inside the former parliament house in the 19th century, when the city-state was a British colony. The company, known as SingPost, was formed in 1992, when the Telecomunication Authority of Singapore was split into three entities. It was listed on the Singapore Exchange in May 2003. Alibaba Investment, a wholly-owned subsidiary of China's e-commerce giant Alibaba Group, in July acquired a stake of about 10% in SingPost. The two companies are eyeing opportunities to set up joint ventures in international e-commerce logistics. Alibaba Investment is the second-largest shareholder in the company, after Singapore Telecommunications.

SingPost is diversifying to tackle a decline in domestic mail volume. Current group CEO Wolfgang Baier, formerly of McKinsey & Company, took the helm in 2011 to lead transformation efforts. He is trying to change SingPost from a domestic postal company into an international logistics and e-commerce operation. To do so, the company has made a series of acquisitions. General Storage Company, a Singapore-based self-storage service operator, was bought in 2013 by SingPost. By acquiring Famous Holdings in 2013, SingPost gained access to the air and sea freight businesses. SingPost is also set to open a new regional logistics hub catered for e-commerce companies in 2016.

Business Summary

Singapore Post Ltd. engages in the provision of of postal, e-Commerce logistics and retail services. It operates through the following segments: Post and Parcel, Logistics, Property, and Others. The Post and Parcel segment provides services for collecting, sorting, transporting and distributing domestic and international mail as well as sale of philatelic products, agency services and financial services. The Logistics segment offers logistics solutions, comprising freight, warehousing, domestic and international distribution, and delivery services. The Property segment includes the rentals from property rental and self-storage businesses. The Others segment refers to the unallocated corporate overhead items and trade-related foreign exchange translation differences. The company was founded on March 28, 1992 and is headquartered in Singapore.

Financial Highlights

Mar 2020 SGDUSD
Revenue1,313.78M957.64M
Gross Profit252.87M184.32M
Operating income138.96M101.29M
Income before tax128.70M93.81M
Net income88.15M64.25M
EBITDA206.94M150.84M
Diluted EPS0.030.02
Dividends Per Share0.020.01
Total Assets2,751.63M1,932.53M
Total liabilities1,456.14M1,022.68M
Total equity1,252.55M879.69M
Operating cash flow159.08M115.96M
Currency in SGDCurrency in USD

Historical Data

 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 1,151.54M 1,347.76M 1,513.42M 1,323.28M 1,313.78M
Gross Profit 283.78M 263.73M 309.94M 323.71M 252.87M
Operating income 141.82M 102.47M 140.19M 178.88M 138.96M
Income before tax 278.16M 54.94M 155.30M 217.26M 128.70M
Net income 233.99M 18.52M 120.62M 151.35M 88.15M
EBITDA 173.70M 153.49M 199.42M 217.43M 206.94M
Diluted EPS 0.10 0.00 0.05 0.00 0.03
Dividends Per Share 0.07 0.03 0.03 0.03 0.02
Total Assets 2,426.48M 2,716.58M 2,684.13M 2,619.24M 2,751.63M
Total liabilities 1,155.02M 1,256.14M 1,284.71M 1,305.60M 1,456.14M
Total equity 1,203.56M 1,359.32M 1,359.07M 1,266.24M 1,252.55M
Operating cash flow 115.02M 180.81M 182.89M 134.23M 159.08M
 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 830.54M 973.93M 1,115.62M 974.37M 957.64M
Gross Profit 204.68M 190.58M 228.47M 238.35M 184.32M
Operating income 102.28M 74.05M 103.34M 131.71M 101.29M
Income before tax 200.62M 39.70M 114.48M 159.98M 93.81M
Net income 168.76M 13.38M 88.91M 111.44M 64.25M
EBITDA 125.28M 110.92M 147.00M 160.10M 150.84M
Diluted EPS 0.07 0.00 0.03 0.00 0.02
Dividends Per Share 0.05 0.02 0.02 0.02 0.01
Total Assets 1,801.93M 1,944.16M 2,046.91M 1,933.73M 1,932.53M
Total liabilities 857.73M 898.98M 979.72M 963.90M 1,022.68M
Total equity 893.77M 972.82M 1,036.42M 934.84M 879.69M
Operating cash flow 82.95M 130.66M 134.82M 98.83M 115.96M

Valuation Measures

Mar 2020
PER19.08
ROA3.28%
ROE6.99%
Operating margin10.57%
Profit margin6.71%

Key executives

  • Group CEO & Non-Independent Executive Director: Paul William Coutts
  • Group Chief Financial Officer: Tak Loi Lai
  • Group Chief Information Officer: Huan Kiap Puar
  • Chief Executive Officer-Quantium Solutions: Jui I Lim
  • Chief Executive Officer-Postal Services: Heng Wee Phang

Shareholders

  • Singapore Telecommunications Ltd. (21.7%)
  • Alibaba Group Holding Ltd. (14.4%)
  • The Vanguard Group, Inc. (1.7%)
  • Singapore Post Ltd. (1.1%)
  • Norges Bank Investment Management (0.9%)
  • Dimensional Fund Advisors LP (0.9%)
  • BlackRock Fund Advisors (0.7%)
  • Toh Capital Pte Ltd. (0.4%)
  • NTUC FairPrice Co-Operative Ltd. (0.4%)
  • HENG SIEW ENG (0.3%)

Contact Details

  • Website:http://www.singpost.com
  • Address: 10 Eunos Road 8, Singapore Post Centre, Singapore, 408600, Singapore
  • Phone: +65.6841.2000

Related Companies

  • SingPost Logistics Enterprise Pte Ltd.
  • SingPost Investments (Toh Guan) Pte Ltd.
  • Quantium Solutions International (Malaysia) Sdn. Bhd.
  • SP LLC
  • Quantium Solutions (Hong Kong) Ltd.
  • SingPost Investments (eCommerce Logistics) Pte Ltd.
  • SingPost Investments (Tampines) Pte Ltd.
  • Quantium Solutions Holdings Pte Ltd.
  • EK Media Pte Ltd.
  • Singpost Logistics Investments Pte Ltd.
  • Lock Plus Store Tanjong Pagar Pte Ltd.
  • Lock Plus Store Ayer Rajah Pte Ltd.
  • Singpost Investments Pte Ltd.
  • General Storage Co. Pte Ltd.
  • SingPost Ecommerce II Pte Ltd.
  • Quantium Solutions International Pte Ltd.
  • Quantium Solutions (Australia) Pty Ltd.
  • Famous Holdings Pte Ltd.
  • Singapore Post Enterprise Pte Ltd.
  • G3 Worldwide Aspac Pte Ltd.

Competitors

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