“4QFY24 earnings beat consensus expectations; strong free cash flow performance was also a pleasant surprise,” according to DBS Group Research on May 30. To top it off, Sats has resumed paying dividends, with its 1.5 cents per share payout equivalent to 39% of its earnings.
In line with the rebound of the global aviation industry following the pandemic, ground handler Sats on May 29 reported FY2024 earnings of $56.4 million, soundly reversing from the loss of $26.5 million recorded in the year-earlier period ended March 2023.
In the most recent 4QFY2024, core patmi, excluding reliefs, reached $47.3 million, a big jump from $4.1 million recorded in the year-earlier period. Free cash flow after lease repayment reached $119 million in 4QFY24, marking a dramatic improvement from negative $167 million recorded in the preceding 9MFY2024.
