SIA GROUP FINANCIAL RESULTS

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1 FINANCIAL RESULTS For Ended 30 June R

2 Operating Result Q1 Q1 Better/ FY18/19 FY17/18 R1 (Worse) ($M) ($M) (%) Total Revenue 3,844 3,864 (0.5) Q1 Better/ FY17/18 R2 (Worse) ($M) (%) 3, Total Expenditure 3,651 3,459 (5.6) -- Net fuel cost 1, (16.6) Fuel cost 1, (34.7) Fuel hedging (gain)/loss (132) 26 n.m. -- Non-fuel expenditure 2,571 2,533 (1.5) 3,459 (5.6) 926 (16.6) 900 (34.7) 26 n.m. 2,533 (1.5) Operating Profit (52.3) 230 (16.1) Operating Profit Margin (%) (5.5) pts 6.2 (1.2) pts R1 Restated due to the adoption of IFRS, reducing prior year s depreciation by $124M R2 Adjusted for revenue one-offs from KrisFlyer breakage rate and compensation for changes in aircraft delivery slots ($175M) Slide 2

3 Group Revenue $M 4,000 3,800 3,864 3,844 $3,844M 3,600 3,400 3,200 Year-on-Year $20M (-0.5%) 3,000 Q1 FY17/18 Slide 3

4 $M 4,000 Group Revenue (ex Q1 FY17/18 One-Offs) 3, ,844 $3,844M 3,600 3,400 3,200 3,689 Year-on-Year $155M (+4.2%) 3,000 Q1 FY17/18 Slide 4 Adjusted for one-offs from KrisFlyer breakage rate and compensation for changes in aircraft delivery slots in Q1 FY17/18

5 Revenue Breakdown ($M) Passenger Flown Revenue 3,061.1 (+148.2, +5.1%) Cargo and Mail (+30.1, +6.0%) 79.6% Passenger Other Revenue (-108.2, -50.5%) Others 34.7 (-70.6, -67.0%) Engineering Services (-19.2, -14.9%) Slide 5

6 $M 3,800 Group Expenditure 3,651 3, $3,651M 3,400 3,200 3,459 Year-on-Year $192M (+5.6%) 3,000 Q1 FY17/18 Restatement for Q1 FY17/18 due to adoption of IFRS Slide 6

7 Cost Composition ($M) LPO* Charges (+5.2, +2.5%) Handling Charges (-2.0, -0.6%) Passenger Costs (-4.3, -2.4%) 5.9% 4.8% AMO Costs (+17.1, +7.2%) 9.0% 12.2% 7.0% Depreciation and Lease Rentals (+4.4, +0.9%) 13.5% 29.6% 18.0% Staff Cost (+7.6, +1.2%) Others (+10.1, +2.3%) *Landing, Parking and Overflying Fuel Cost Post Hedging 1,079.4 (+153.7, +16.6%) Note: Restated due to the adoption of IFRS, reducing prior year s depreciation by $124M Slide 7

8 $M 1,400 1,300 1,200 1,100 Composition of Increase in Fuel Cost (After Hedging) Higher weighted average fuel price +359 Hedging gain versus loss -158 Weaker USD against SGD Higher uplift +15 1,080 1, (+16.6%) 900 Slide Q1 FY17/18 Price Hedging Exchange Volume

9 Group Operating Profit $M % 1, Op. Profit $193M $212M (-52.3%) Operating Profit Margin 5.5% pts 0 Q1 FY17/18 0 Slide 9

10 Group Operating Profit (ex Q1 FY17/18 One-Offs) $M % 1, Op. Profit $193M $37M (-16.1%) Operating Profit Margin 1.2% pts 0 Q1 FY17/18 0 Slide 10

11 Composition of Decrease in Operating Profit $M Higher pax flown revenue +148 Higher cargo flown revenue +30 Lower engineering revenue Higher net fuel costs Absence of one-offs from: KrisFlyer breakage revenue (-115) Compensation for changes in delivery slots (-60) Absence of one-offs Higher ex-fuel costs largely due to: Depreciation expense (-31) Aircraft maintenance & overhaul (-17) Commissions & incentives (-9) Lower lease rentals (+26) 300 Higher exfuel costs -212 (-52.3%) Slide 11 Q1 FY17/18 Pax flown rev Cargo flown rev Eng rev Fuel One-offs Ex-fuel costs Others Note: Restated due to the adoption of IFRS, reducing prior year s depreciation by $124M Q1 FY18/19

12 Group Operating Profit Q1 Q1 Better/ Better/ FY18/19 FY17/18 R1 (Worse) (Worse) ($M) ($M) ($M) (%) SIA R (189) (51.1) SIA Engineering (9) (47.4) SilkAir - 8 (8) (100) Scoot 1 3 (2) (66.7) R1 Restated due to the adoption of IFRS R2 Adjusted prior year comparatives to take into account of SIA Cargo integration within the Parent Airline Company Slide 12

13 $M 400 Group Net Profit Net Profit $140M $198M (-58.6%) 0 Q1 FY17/18 Slide 13

14 $M 400 Group Net Profit (ex Q1 FY17/18 One-Offs) Net Profit $140M $53M (-27.5%) Q1 FY17/18 Slide 14 Adjusted for one-offs post-tax

15 Group Profit Attributable to Owners of the Parent $M Lower operating profit (-58.6%) Higher net finance charges Lower taxation Slide 15 Q1 FY17/18 Operating profit Net Interest Taxation Others

16 PARENT AIRLINE COMPANY

17 PARENT AIRLINE COMPANY (PAX) Q1 Q1 Change FY18/19 FY17/18 % Available Seat-KM (M) 29, , Revenue Passenger-KM (M) 24, , Passenger Load Factor (%) pts Pax Yield ( /pkm) (1.0) Revenue per available seat-km ( /ask) Passenger Unit Cost ( /ask) Passenger Unit Ex-fuel Cost ( /ask) (3.6) Passenger Breakeven Load Factor (%) pts Slide 17

18 PARENT AIRLINE COMPANY (PAX) Monthly Pax Yields 11 /pkm 2016/ / / Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Slide 18

19 PARENT AIRLINE COMPANY (CARGO) Q1 Q1 Change FY18/19 FY17/18 % Cargo Capacity Tonne-KM (M) 2, , Cargo Load Tonne-KM (M) 1, ,783.2 (3.5) Cargo Load Factor (%) (4.3) pts Cargo Yield ( /ltk) Cargo Unit Cost ( /ctk) (3.6) Cargo Unit Ex-fuel Cost ( /ctk) (8.9) Cargo Breakeven Load Factor (%) (7.3) pts Slide 19

20 PARENT AIRLINE COMPANY (CARGO) Monthly Cargo Yields /ltk 2016/ / / Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Slide 20

21 PARENT AIRLINE COMPANY Operating Result Q1 Q1 Better/ FY18/19 FY17/18 R1 (Worse) ($M) ($M) (%) Total Revenue 3,093 3,149 (1.8) Q1 Better/ FY17/18 R2 (Worse) ($M) (%) 2, Total Expenditure 2,912 2,779 (4.8) -- Net fuel cost (14.5) Fuel cost (32.3) Fuel hedging (gain)/loss (107) 23 n.m. -- Non-fuel expenditure 2,028 2,007 (1.0) Operating Profit (51.1) 2,779 (4.8) 772 (14.5) 749 (32.3) 23 n.m. 2,007 (1.0) 195 (7.2) Operating Profit Margin (%) (5.9) pts 6.6 (0.8) pt R1 Restated for IFRS, and adjusted prior year s comparatives to take into account of SIA Cargo integration within the Parent Airline Company R2 Adjusted for revenue one-offs from KrisFlyer breakage rate and compensation for changes in aircraft delivery slots ($175M) Slide 21

22 PARENT AIRLINE COMPANY Cost Composition ($M) LPO* Charges (+0.9, +0.5%) Handling Charges (-10.9, -3.6%) Staff Cost (+10.7, +2.4%) AMO Costs (-7.2, -3.3%) Passenger Costs (-6.2, -3.7%) 5.8% 5.8% 5.5% 13.0% 10.2% 15.4% 30.4% 7.2% 12.5% Aircraft depreciation and Lease Rentals (-8.7, -2.3%) Others (+42.1, +12.5%) Fuel Cost Post Hedging (+112.4, +14.6%) Slide 22 *Landing, Parking and Overflying Note: Restated depreciation due to the adoption of IFRS

23 PARENT AIRLINE COMPANY /ask 9 8 Passenger Cost Analysis Unit Fuel Cost 2.76 (+13.1%) Unit Staff Cost 1.43 (-) Unit Other Cost 3.97 (-3.4%) 1 0 Q1 FY17/18 Slide 23

24 PARENT AIRLINE COMPANY /ctk Cargo Cost Analysis Unit Fuel Cost 5.81 (+5.1%) Unit Staff Cost 0.86 (-) Unit Other Cost 9.38 (-9.4%) 2 0 Q1 FY17/18 Slide 24

25 FUEL HEDGING UPDATE Remaining 9 months of FY18/19 Jet Fuel Brent Percentage hedged (%) Average hedged price (USD/BBL) Maturities Up To FY22/23 Jet Fuel Brent Percentage hedged (%) Average hedged price (USD/BBL) - - Up to 46% Slide 25

26

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