Singapore-based SIA Engineering Company (SIAEC) posted earnings of S$139.6 million ($107.6 million) for the year ending March 31, 2025, up 43.8% on the prior fiscal year.
Supported by “stable growth” in the demand for aircraft maintenance, repair and overhaul (MRO) services, the group recorded revenue increase of 13.8% S$1,24bn ($955.7 million) for the fiscal year ending March 31, 2025. Group expenditure also rose, but at a lower rate of 12.7%, with the increase mainly from higher manpower costs and material usage.
The Singapore-based company stated that while impacts of higher tariffs on its business remain limited at present, the company acknowledges the possibility of indirect effects. “There could be potential second-order, indirect effects, which are now difficult to assess but measures are already being put in place to mitigate the potential impact of higher tariffs,” said the company.
The group’s operating performance saw a significant improvement of S$12.3 million ($9.48 million) compared to the previous fiscal year, with operating profit rising from S$2.3 million ($1.7 million) to S$14.6 million ($11.25 million), driven by revenue growth outpacing the increase in expenditure.
During the second half of the fiscal year, the group recorded an operating profit of S$11.1 million ($8.55 million). This was an improvement of S$8.9 million ($6.8 million) on the same period last year and S$7.6 million ($5.8 million) higher than the first half of this annual reporting period.
Share of profits of associated and joint venture companies rose S$9 million ($6.9 million) to S$60 million ($46.2 million). Of this, S$56.9 million ($43.8 million) came from the engine and component segment and S$3.1 million ($2.38 million) from the airframe and line maintenance segment.