SATS Q2 FY2027 Results Presentation is SATS's "2Q FY27 Business update" investor deck dated 11 November 2026, lodged with SGX alongside the company's half-yearly results. SATS's financial year starts in April, so 2Q FY27 is the July to September 2026 quarter and 1H FY27 is April to September 2026. The English-language deck covers Gateway Services (cargo and ground handling) and Food Solutions (aviation and non-aviation meals), with amounts in S$ (Singapore dollars), operating statistics, cash flow, FY2029 targets and outlook.
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SATS Q2 FY2027 Results Presentation is SATS's "2Q FY27 Business update" investor deck dated 11 November 2026, lodged with SGX alongside the company's half-yearly results. SATS's financial year starts in April, so 2Q FY27 is the July to September 2026 quarter and 1H FY27 is April to September 2026. The English-language deck covers Gateway Services (cargo and ground handling) and Food Solutions (aviation and non-aviation meals), with amounts in S$ (Singapore dollars), operating statistics, cash flow, FY2029 targets and outlook.
Detaillierte Ansicht jeder Folien-Seite, einschließlich Layout, wichtigem Inhalt und visuellen Elementen.
Title slide of the SATS business update for the second quarter of FY27, dated 11 Nov 2026. It carries the SATS logo and a "<Public>" classification marker.
Left-aligned logo at top, large red title and date at mid-left, with overlapping red circular line art filling the right half on a white background.
Standard cautionary text: the document may contain forward-looking statements based on management's current expectations and subject to risks and uncertainties. Targets should not be regarded as a forecast, and the company undertakes no obligation to update them.
Red title at top left with logo top right, followed by three justified paragraphs under a short red rule.
2Q revenue reached S$1.71B, up 9.0% YoY, with cargo volumes outpacing IATA and growing in all regions, led by the Americas and APAC. EBITDA fell 2.1% to S$300.9M (17.6% margin) on higher input costs and Middle East network disruption, while PATMI rose 2.8% to S$81.1M. QoQ, EBITDA rose 3.8% and PATMI 7.9%. Gateway Services handled 2.57M tonnes of cargo (+8.0%) and 167.1K flights (+4.0%); Food Solutions served 19.0M aviation meals (+8.3%) and 12.5M non-aviation meals (+7.1%).
Headline bullets on top; below, a left panel of three numbered metric cards (revenue, EBITDA, PATMI) and a right panel of segment performance for Gateway Services and Food Solutions, under purple header bars.
Four columns on a dotted timeline: new wins and renewals (Atlas Air in Amsterdam, Turkish Airlines and Singapore Airlines renewals, Temu e-commerce handling at 3 Americas stations, Bytedance expansion, Malaysian Airlines renewal in Japan); a new 25,400 sqm cargo terminal at Lyon-Saint Exupery; the inaugural SATS Food Solutions Aviation Alliance Summit; and awards including four Payload Asia Awards and Asia's Best Cruise Terminal 2025 for MBCCS.
Four-column timeline with bold headings, bulleted text with purple highlighted keywords and one photo under each column.
Five panels show six quarters (1Q26 to 2Q27) split between subsidiaries and 100% AJVs. YTD cargo is 5.16M tonnes (+8.3%; 7.00M including AJVs, +7.5%); flights handled 332.2K (+4.0%); aviation meals 36.3M (+7.0%); non-aviation meals 24.2M (+12.9%); average employees 57.0K (+4.2%). QoQ notes cite fewer flights on higher fuel costs and weaker China domestic volumes, offset by higher in-camp training volume in China.
Five rounded cards side by side, each with an icon, YTD headline number, inclusive-of-AJV figure and a stacked bar chart, with italic QoQ commentary beneath.
Cargo volumes grew 8.0% YoY in 2Q FY27 (2,382K to 2,572K tonnes), against IATA CTK growth of 5.3%. Like-for-like growth contributed +4.6%, mainly Americas and APAC with weaker EMEA due to the Middle East conflict, and non-LFL added +3.4% from new wins. SATS is present in 14 of the Top 30 air cargo stations with direct airside access at all 14.
Left side has a line chart of the last six quarters of YoY growth versus IATA above a waterfall of tonnage; right side is a rounded panel of four bullets, with footnotes at the bottom.
Group 2Q FY27 versus 2Q FY26 in S$ millions: revenue 1,712.7 vs 1,571.7 (+9.0%), EBITDA 300.9 vs 307.4 (margin 17.6% vs 19.6%), EBIT 145.4 vs 157.4, SoAJV 25.8 vs 27.5, PATMI 81.1 vs 78.9. Segments: Gateway revenue 1,336.6 (+10.0%) with EBITDA margin 19.3%; Food revenue 376.5 (+5.6%) with margin 13.9%. Commentary attributes the margin dip to input costs and Middle East rerouting against a prior-year base lifted by front-loaded tariff-related volumes.
Left column has Group and Segment tables with the current quarter shaded blue and red or green variances; right is a rounded panel with five commentary bullets.
Segment P&L for 2Q FY27: total revenue 1,712.7, EBITDA 300.9 (17.6%), EBIT 145.4 (8.5%), SoAJV 25.8 and EBIT plus SoAJV 171.2. The 1Q FY27 comparison shows revenue 1,676.3, EBITDA 290.0 (17.3%), EBIT 133.8 and EBIT plus SoAJV 160.6. A footnote says 1Q FY27 was reclassed between Gateway and Corporate with no Group impact.
Two stacked tables, blue-tinted for 2Q and grey for 1Q, with columns for Gateway Services, Food Solutions, combined, Others and Total.
Revenue by business in 2Q FY27: Cargo 900.4 (+10.9%), Ground 436.2 (+8.0%), Gateway Services 1,336.6 (+10.0%); Aviation food 245.1 (+2.6%), Non-aviation 131.4 (+11.7%), Food Solutions 376.5 (+5.6%). By region: Singapore 578.4 (+6.1%), APAC 189.6, EMEA 340.7, Americas 604.2 (+12.6%). Cargo is 53% of revenue, and Americas rises to 35%.
A table on the left and two 100% stacked column charts on the right (by business and by region) comparing 2Q FY26 with 2Q FY27, each annotated with +141 M.
Revenue growth was offset by margin pressure. Revenue 1,712.7 (+9.0%), EBITDA after lease 170.6 (-5.8%), PATMI 81.1 (+2.8%); operating cash flow after lease 1.5 versus 77.2, free cash flow (54.8). Cash at Sep26 was 574.8 versus 752.5 at Mar26, borrowings 2,342.3, and lease liabilities 1,998.1 (+13.5%), which the slide ties to the 15-year AAT concession renewal in Hong Kong. Ratios shown include gross debt/EBITDA+ 3.4x against a 4.0 Moody's target and EBITDA/interest 4.9x against 4.5.
Left half is a metrics table with red outlines on key rows; right half is a grid of small bar charts for profitability, leverage and returns, with dashed Moody's target lines.
1H27 operating cash flow was 265.0 versus 356.8, with a bridge showing higher receivables (20.4) and lower payables (74.3). After lease payments of 240.2, operating cash flow was 24.8 and FCF was (77.3) versus (1.1). Ending cash was 574.9. The quarterly chart shows 2Q27 operating cash flow after lease of 1.5 and FCF of (54.8); the slide notes 2Q FCF is typically lower due to annual bonus payments and that the NCI share buyback relates to an increased stake in Brazil.
A cash flow table at left with red-outlined key lines, and at right a bar-and-line quarterly trend chart with a callout bridge box and a grey commentary box.
FY29 targets: EBITDA margin above 20%, EBIT margin above 10%, SoAJV run-rate above S$150m, PATMI margin above 5.0%. 1H FY27 (LTM basis where marked) shows 17.4%, 8.2%, S$107m and 4.6%. Capital management targets are ROE above 15.0%, gross debt/EBITDA+ below 3.5x and operating cash flow (AL) below S$750M, with 1H27 at 10.6%, 3.4x and S$462M. FY27 status is labelled "Progressing (with near-term headwinds)".
Split slide: a white left panel with the red heading, and a right panel over a tinted airport photo holding a targets table, three small bar charts and a traffic-light status box.
Section divider introducing the outlook discussion. It contains no data.
Large red word "Outlook" at left centre with overlapping red circle line art at right and the SATS logo at top right.
Cargo: global demand rose 7.7% in September (IATA), with volumes expected to be supported by new wins, European capacity and AI-enabled planning, including a Lyon terminal with cold-chain capacity. Ground handling: global passenger demand fell 0.5% in September; rerouting continues, and AI-driven ramp manpower orchestration rolls out at Changi. Food: aviation demand remains affected by the Middle East, non-aviation expects positive momentum, input costs stay elevated near term, and fresh frozen meals demand should strengthen with SFST Phase 2.
Three columns, each headed by a pink circular icon (cargo, ground handling, food) and followed by bold purple lead-in bullets; IATA source footnote at bottom.
Section divider introducing the appendix of supporting tables. It contains no data.
Large red word "Appendix" at left centre with overlapping red circle line art and the SATS logo.
2Q FY27 cargo processed was 2,572.5 thousand tonnes (+8.0%): APAC 833.8 (+8.7%), EMEA 980.9 (+0.1%), Americas 757.7 (+19.4%). Flights handled 167.1K (+4.0%), with APAC down 8.9% and Americas up 20.5%. Gross meals produced 31.6M (+7.8%), and ship calls handled 57 versus 40. YTD figures are also shown, and commentary links APAC flight declines to reduced schedules amid higher fuel costs.
A table comparing 2Q FY27, 2Q FY26, YTD FY27 and YTD FY26 with change percentages, plus a rounded commentary box on the right and a reallocation footnote.
2Q FY27 against 2Q FY26 by segment. Gateway EBITDA was 257.7 (19.3%) versus 268.0 (22.1%); Food EBITDA 52.3 (13.9%) versus 50.8 (14.2%). Group EBITDA 300.9 versus 307.4, EBIT 145.4 versus 157.4 and EBIT plus SoAJV 171.2 versus 184.9.
Two stacked tables, blue for 2Q FY27 and grey for 2Q FY26, with Gateway, Food, combined, Others and Total columns.
Half-year segment P&L: 1H FY27 revenue 3,389.1 (Gateway 2,665.8, Food 722.5), EBITDA 590.9 (17.4%), EBIT 279.2 (8.2%), SoAJV 52.6 and EBIT plus SoAJV 331.8. 1H FY26 revenue was 3,078.5, EBITDA 581.2 (18.9%) and EBIT 282.6.
Same two-table layout as the preceding P&L slides, blue for 1H FY27 and grey for 1H FY26.
Margins improved sequentially, while a high prior-year base and Middle East disruption weighed on YoY margins. Revenue 1,712.7 (+9.0% YoY, +2.2% QoQ), opex (1,411.8), EBITDA 300.9, EBIT 145.4, PATMI 81.1. Commentary says 2Q FY26 carried a S$10M tax provision that did not recur, Gateway margins improved QoQ on cost discipline, and Food EBITDA margin was lower after a full quarter of higher input costs.
A table with YoY and QoQ column groups at left and two rounded commentary boxes (YoY and QoQ) at right.
Double-digit revenue growth in 1H: revenue +10.1% to S$3.39B, led by Gateway (+11.4%) with Food up 5.5%. EBITDA +1.7% to S$590.9M, EBIT -1.2% to 279.2, SoAJV -13.2% to S$52.6M, and PATMI +4.3% to S$156.2M. Margins were EBITDA 17.4%, EBIT 8.2% and PATMI 4.6%.
A half-year comparison table at left with a rounded four-bullet commentary box at right.
Six-quarter charts (1Q26 to 2Q27) for revenue, EBITDA, EBITDA after lease, EBIT, SoAJV and PATMI. 2Q27 revenue was 1,712.7 (+2% QoQ), EBITDA margin 17.6%, EBIT margin 8.5%, PATMI 81.1 with a 4.7% margin. YTD27 revenue was 3,389.1 versus 3,078.5 (+10.1%).
A 2x3 grid of small bar charts with the latest quarter highlighted in dark blue, YoY and QoQ callouts, and margin rows below each chart.
Waterfall from 1H FY27 revenue of S$3,389.1M down through employment cost (1,826.9), subcontracting, raw materials, licence fees, premises and other costs to EBITDA 590.9 (17.4%), D&A (311.7), EBIT 279.2 (8.2%), SoAJV 52.6, interest and taxes (175.6) and PATMI 156.2 (4.6%). Total opex was S$3,109.9M (+11.2%) and employment cost is 58.7% of the cost pie. A reclassification footnote is included.
A broken-axis waterfall chart dominates the slide, with a pie chart of cost mix at top right, a small total-opex bar inset, and a YoY comparison table along the bottom.
Häufige Fragen zu dieser Folie und dem zugrunde liegenden Präsentationsinhalt.
It is SATS's "2Q FY27 Business update" presentation dated 11 November 2026, lodged with SGX alongside the company's half-yearly results. The deck is written in English, and amounts are in S$ (Singapore dollars) unless stated otherwise.
SATS's financial year starts in April, so 2Q FY27 is the quarter from July to September 2026, and 1H FY27 is April to September 2026. The slides use the labels 2Q FY27, 1H FY27 and Sep26 for the balance sheet date.
Singapore-listed companies formally report half-yearly, so the full financial statements are lodged for the half year. This business update accompanies the half-year results and gives a quarterly view (2Q) alongside the 1H figures, as shown in the 2Q and 1H highlights and segment P&L slides.
The deck reports revenue of S$1,712.7M (+9.0% YoY), EBITDA of S$300.9M (-2.1%, margin 17.6%), EBIT of S$145.4M and PATMI of S$81.1M (+2.8%). Cargo volume grew 8.0% YoY to 2,572K tonnes.
Gateway Services (cargo and ground handling, 2Q revenue S$1,336.6M) and Food Solutions (aviation and non-aviation meals, S$376.5M). Segment tables, revenue by region and operating statistics are shown on slides 7, 8, 9 and 16.
Slide 12 lists FY29 targets of EBITDA margin above 20%, EBIT margin above 10%, SoAJV run-rate above S$150m and PATMI margin above 5.0%, plus ROE above 15%, gross debt/EBITDA+ below 3.5x and operating cash flow (AL) below S$750M. It labels FY27 as progressing with near-term headwinds.
Yes. It runs from a title and disclaimer to highlights, drivers, financial summary, outlook and an appendix of tables, using KPI cards, waterfall charts, stacked bars and consistent red and purple branding. It describes company results only and is not investment advice.
Yes. Slides 3, 7 and 19 attribute it to higher input costs and rerouting inefficiencies from the Middle East conflict, and to a high 2Q FY26 base lifted by front-loaded volumes and short-term efficiency gains. Sequentially, EBITDA margin improved 0.3 ppt versus 1Q FY27.
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