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Singapore's SIA Engineering H1 revenue falls on lower materials sales

By Reuters News


Overview

  • Singapore aircraft MRO firm's H1 revenue fell 9.7% yr/yr to S$658.6 mln

  • Operating profit nearly doubled, helped by lower costs and absence of impairment provision

  • Net profit for H1 dipped slightly year-on-year


Outlook

  • Company expects MRO demand supported by air travel growth and delayed aircraft retirements

  • Company cites energy costs and supply chain bottlenecks as ongoing challenges

  • Company plans to expand regional footprint and enhance capabilities for next-generation aircraft


Result Drivers

  • LOWER MATERIAL REVENUE - Co said revenue fell due to reduced material sales

  • COST REDUCTIONS - Lower material and repair costs and absence of impairment provision helped boost operating profit

  • HEALTHY MRO DEMAND - Co said maintenance, repair and overhaul demand remained healthy, with more flights handled


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Revenue

S$658.60 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the airport operators & services peer group is "buy"

  • Wall Street's median 12-month price target for SIA Engineering Company Ltd is S$3.80, about 27.5% above its November 2 closing price of S$2.98

  • The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 20 three months ago


Reuters Recommended Reads

  • Nov 3 - Singapore's Grab lifts 2026 forecasts on strong ride-hailing, delivery demand

  • Nov 2 - Ireland's Ryanair H1 profit falls 15% as fuel costs rise


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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