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SINGAPORE AIRLINES GROUPSINGAPORE AIRLINES GROUPANALYST / MEDIA BRIEFINGANALYST / MEDIA BRIEFING
FY2009/10 RESULTS FY2009/10 RESULTS 24 MAY 201024 MAY 2010
THE PARENT AIRLINETHE PARENT AIRLINEFY2009/10FY2009/10
RESULTSRESULTS
THE PARENT AIRLINE COMPANY THE PARENT AIRLINE COMPANY RESULTS RESULTS –– FY2009/10 ($ million)FY2009/10 ($ million)
159159Operating Operating Profit/(Loss)Profit/(Loss)
2,5262,526Total ExpenditureTotal Expenditure
2,6852,685Total RevenueTotal Revenue
4Q/094Q/09
834- Fuel Cost16- Fuel Hedging Loss
1,676- Ex-fuel Cost
n.m.n.m.
5.45.4--
0.10.1++
% Change% Change
28.6+96.4-6.8+
(39)(39)
10,18410,184
10,14510,145
2009/102009/10
3,077460
6,647
n.m.n.m.
16.716.7--
22.322.3--
% Change% Change
39.0-50.2+3.3-
Slide 3
THE PARENT AIRLINE COMPANY THE PARENT AIRLINE COMPANY OPERATING PERFORMANCE OPERATING PERFORMANCE –– FY2009/10FY2009/10
80.080.0Passenger Load Passenger Load Factor (%)Factor (%)
20,86720,867Revenue Revenue PaxPax--KM KM (million)(million)
26,09426,094Available SeatAvailable Seat--KM KM (million)(million)
4Q/094Q/09
8.88.8++
6.86.8++
4.94.9--
% Change% Change
ptspts 78.478.4
82,88382,883
105,674105,674
2009/102009/10
1.91.9++
8.08.0--
10.310.3--
% Change% Change
ptspts
Slide 4
THE PARENT AIRLINE COMPANY THE PARENT AIRLINE COMPANY OPERATING PERFORMANCE OPERATING PERFORMANCE –– FY2009/10FY2009/10
77.577.5Passenger Breakeven Passenger Breakeven Load Factor (%)Load Factor (%)
8.68.6Passenger Unit Cost Passenger Unit Cost ((¢¢/ask)/ask)
11.111.1Passenger Yield Passenger Yield ((¢¢//pkmpkm))
4Q/094Q/09
0.40.4++
5.55.5--
5.95.9--
% Change% Change
ptpt 82.782.7
8.68.6
10.410.4
2009/102009/10
9.19.1++
6.56.5--
16.816.8--
% Change% Change
ptspts
Slide 5
THE PARENT AIRLINE COMPANY THE PARENT AIRLINE COMPANY OPERATING PERFORMANCE OPERATING PERFORMANCE –– FY2009/10FY2009/10
2.52.5Passenger Load Passenger Load Factor Spread Factor Spread (% pts)(% pts)
77.577.5Passenger Breakeven Passenger Breakeven Load Factor (%)Load Factor (%)
80.080.0Passenger Load Passenger Load Factor (%)Factor (%)
4Q/094Q/09
8.48.4++
0.40.4++
8.88.8++
% Change% Change
ptspts
ptspts
ptpt
(4.3)(4.3)
82.782.7
78.478.4
2009/102009/10
7.27.2--
9.19.1++
1.91.9++
% Change% Change
ptspts
ptspts
ptspts
Slide 6
19,000
20,000
21,000
22,000
23,000
24,000
25,000
1Q/PY 2Q/PY 3Q/PY 4Q/PY 1Q/CY 2Q/CY 3Q/CY 4Q/CY
THE PARENT AIRLINE COMPANY THE PARENT AIRLINE COMPANY PASSENGERPASSENGER--KMKM
(million)
Slide 7
18,000 18,655
20,867
23,19121,253
22,108
Passenger-KM
76.7
71.6
79.682.4
80.0
0
68
72
76
80
84
88
92
1Q/PY 2Q/PY 3Q/PY 4Q/PY 1Q/CY 2Q/CY 3Q/CY 4Q/CY
Passenger Load Factor
88.8
84.3
70.2
79.077.5
Breakeven Load Factor
Slide 8
(%)
THE PARENT AIRLINE COMPANY THE PARENT AIRLINE COMPANY PAX LOAD FACTOR & BREAKEVEN LOAD FACTORPAX LOAD FACTOR & BREAKEVEN LOAD FACTOR
11.1
10.5
9.810.2
12.4
8
9
10
11
12
13
1Q/PY 2Q/PY 3Q/PY 4Q/PY 1Q/CY 2Q/CY 3Q/CY 4Q/CY
Passenger Yield(¢¢//pkmpkm)
Slide 9
THE PARENT AIRLINE COMPANY THE PARENT AIRLINE COMPANY PASSENGER YIELDPASSENGER YIELD
THE PARENT AIRLINE COMPANY THE PARENT AIRLINE COMPANY COST COMPOSITION COST COMPOSITION –– FY2009/10FY2009/10
Fuel34.7%
(-9.1% pts)
Airport Handling7.7% (+0.9% pt)
Aircraft Depreciation & Rentals
17.7% (+3.7% pts)Staff
13.5% (+1.0% pt)
Passenger Costs5.3% (+0.6% pt)
Others21.1%
(+2.9% pts)
Slide 10
THE PARENT AIRLINE COMPANY THE PARENT AIRLINE COMPANY TOP 5 EXPENDITURE TOP 5 EXPENDITURE –– FY2009/10FY2009/10
0 1,000 2,000 3,000 4,000 5,000 6,000
Passenger Costs
Airport Handling
Staff
Aircraft Depr. &Lease Rentals
Fuel
788 (-4.8%)
542 (-6.5%)
1,798 (+5.3%)
1,374 (-9.9%)
3,537 (-33.9%)
2008/09
2009/10
($ million)
Slide 11
THE PARENT AIRLINE COMPANY THE PARENT AIRLINE COMPANY FUEL EXPENDITURE FUEL EXPENDITURE –– FY2009/10FY2009/10
($ million)
0
1,000
2,000
3,000
4,000
5,000
6,000
08/09 Price
Lowerweighted average
fuel price
-1,507
Volume
-478
Lower volumeuplifted
Exchange
+19
StrongerUS Dollar
Hedging
+154
Higher hedginglosses
-1,812
09/10
3,537
5,349
Slide 12
THE GROUP THE GROUP FY2009/10FY2009/10
RESULTSRESULTS
GROUP REVENUE GROUP REVENUE –– FY2009/10 ($ million)FY2009/10 ($ million)
($ million)
3,082
3,418
2,871
2,750
3,000
3,250
3,500
3,750
4,000
4,250
4,500
Q1 Q2 Q3
3,336
Q4
2008/09 2009/10
Slide 14
0
($ million)
3,0953,264
3,0953,190
2,750
3,000
3,250
3,500
3,750
4,000
4,250
4,500
Q1 Q2 Q3 Q4
2008/09 2009/10
GROUP EXPENDITURE GROUP EXPENDITURE –– FY2009/10 ($ million)FY2009/10 ($ million)
Slide 15
0
($ million)
241
-182
323
-319-400
-300
-200
-100
0
100
200
300
400
500
Q1 Q2 Q3 Q4
2008/09 2009/10
GROUP OPERATING PROFIT/LOSSGROUP OPERATING PROFIT/LOSS–– FY2009/10 ($ million)FY2009/10 ($ million)
Slide 16
($ million)
278
-159
404
-307-400
-300
-200
-100
0
100
200
300
400
500
Q1 Q2 Q3 Q4
2008/09 2009/10
GROUP NET PROFIT/LOSSGROUP NET PROFIT/LOSS–– FY2009/10 ($ million)FY2009/10 ($ million)
Slide 17
GROUP REVENUE GROUP REVENUE –– FY2009/10 ($ million)FY2009/10 ($ million)
13,341
14,494
15,973 15,996
12,707
11,000
12,000
13,000
14,000
15,000
16,000
17,000
05/06 06/07 07/08 08/09(Actual)
09/10
($ million)
Slide 18
0
GROUP REVENUE GROUP REVENUE –– FY2009/10 ($ million)FY2009/10 ($ million)
15,726
0
11,000
12,000
13,000
14,000
15,000
16,000
17,000
($ million)
08/09(Proforma)
13,341
14,494
15,973
12,707
Slide 19
05/06 06/07 07/08 09/10
12,128
13,18013,848
15,093
12,644
11,000
12,000
13,000
14,000
15,000
16,000
17,000
($ million)
GROUP EXPENDITURE GROUP EXPENDITURE –– FY2009/10 ($ million)FY2009/10 ($ million)
Slide 20
005/06 06/07 07/08 08/09
(Actual)09/10
14,930
11,000
12,000
13,000
14,000
15,000
16,000
17,000
($ million)
GROUP EXPENDITURE GROUP EXPENDITURE –– FY2009/10 ($ million)FY2009/10 ($ million)
12,128
13,18013,848
12,644
Slide 21
008/09
(Proforma)05/06 06/07 07/08 09/10
1,213 1,314
2,125
904
630
500
1,000
1,500
2,000
2,500
($ million)
GROUP OPERATING PROFITGROUP OPERATING PROFIT–– FY2009/10 ($ million)FY2009/10 ($ million)
Slide 22
05/06 06/07 07/08 08/09(Actual)
09/10
796
0
500
1,000
1,500
2,000
2,500
($ million)
GROUP OPERATING PROFITGROUP OPERATING PROFIT–– FY2009/10 ($ million)FY2009/10 ($ million)
1,213 1,314
2,125
63
Slide 23
08/09(Proforma)
05/06 06/07 07/08 09/10
CONTRIBUTION TO GROUP OPERATING CONTRIBUTION TO GROUP OPERATING PROFIT PROFIT –– FY2009/10FY2009/10
2.22.2--112.6112.6110.4110.4SIA EngineeringSIA Engineering
861.5861.5--822.9822.9(38.6)(38.6)Singapore AirlinesSingapore Airlines
2009/102009/10($M)($M)
15.615.6++33.633.649.249.2SilkAirSilkAir
99.999.9++(245.0)(245.0)(145.1)(145.1)SIA CargoSIA Cargo
2008/092008/09($M)($M)
ChangeChange($M)($M)
Slide 24
PER SHARE STATISTICSPER SHARE STATISTICS–– FY2009/10FY2009/10
40.012.0Dividend Per Share (¢)
2.972.25EBITDAR Per Share ($)
2008/092009/10
11.7811.30Net Asset Value Per Share ($)
At 31 Mar 09At 31 Mar 10
Slide 25
OUTLOOKOUTLOOKFORFOR
FY2010/11FY2010/11
Encouraging advance bookings
DEMAND OUTLOOKDEMAND OUTLOOK
Recovery in Business Class demand
Slide 27
Uncertainties remain
Yields to keep pace with growth in demand
RPK to pace 2% ASK growth
Rose to 18-month high of USD95/BBL in Apr 10
JET FUEL PRICEJET FUEL PRICE
Forward curve indicates continued high and volatile prices
Slide 28
PASSENGER FLEET DEVELOPMENT PASSENGER FLEET DEVELOPMENT –– FY2010/11FY2010/11
108Operating Fleet at 31 March 10No. of Aircraft
Slide 29
109Operating Fleet at 31 March 11
+ 12+ 1248
IN: Delivery ofA380-800A330-300
-- 1111641
OUT: Lease Out (B777s)Sale (B777s)Return to Lessor (B744)
GROUP CAPITAL EXPENDITURE GROUP CAPITAL EXPENDITURE FOR NEXT 5 YEARS ($ million)FOR NEXT 5 YEARS ($ million)
2,2002,200
100100
2,1002,100
FY11/12FY11/12
1,4001,400
5050
1,3501,350
FY12/13FY12/13
2,4002,400
5050
2,3502,350
FY13/14FY13/14
2,8002,8001,4501,450TotalTotal
5050150150Other AssetsOther Assets
2,7502,7501,3001,300AircraftAircraft
FY14/15FY14/15FY10/11FY10/11
Slide 30
THANK YOU