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Almost back to pre-covid traffic levels. Meanwhile, this is yet another of those companies that is hoarding cash resulting in higher profits as interest rates rise.
Wolf Money(portfolio update for end Nov 2023)part 1
https://lonewolfinvestor.blogspot.com/2023/11/wolf-moneyportfolio-update-for-end-nov.html?m=1
Wolf Money(portfolio update for end Nov 2023)part 2 SBS Transit related
https://lonewolfinvestor.blogspot.com/2023/11/wolf-moneyportfolio-update-for-end-nov_29.html?m=1
SBS Transit Q3 profit after tax up 4.7% on higher interest income
SBS Transit : S61 -1.17% posted a 4.7 per cent rise in profit after tax for the third quarter ended Sep 30, to S$17.9 million from S$17.1 million a year earlier.
The increase was a result of higher interest income, and came in spite of a 0.7 per cent decline in revenue to S$387.8 million over the same period from S$390.5 million the year before.
In a business update on Friday (Nov 10), the public transport operator said revenue fell due to the lower service fee rates for five extended negotiated bus contracts that came into effect from Sep 1, 2022, and lower fuel indexation.
However, this was partially offset by higher rail ridership, as well as more advertising campaigns due to improved post-pandemic economic conditions.
SBS Transit attributed a 0.7 per cent drop in operating costs &ndash to S$369 million &ndash to lower manpower costs from vacancy gaps, reduced premises costs and lower diesel costs, even as electricity expenses rose.
In the business update, SBS Transit said it will remain the operator for the Bukit Merah bus package for a further five years from April 2024, after the result of the PT218 tender was announced in August this year.
It will also continue to operate the Ulu Pandan Bus Depot, as well as manage the Bukit Merah and Harbourfront bus interchanges as part of the Bukit Merah package.
However, SMRT will take over the operator&rsquo s Jurong West package for a five-year period from September 2024.
SBS Transit noted that quarter on quarter, ridership on the North East Line and Downtown Line rose to 93 per cent and 91 per cent of pre-pandemic levels, respectively, in Q3. This was an increase from 89 per cent and 86 per cent in Q2. The company added that it expects rail ridership to continue improving.
Wolf Money(SBS Transit Q3 FY2023 update)🙏
https://lonewolfinvestor.blogspot.com/2023/11/wolf-moneysbs-transit-q3-fy2023-update.html
Wolf Money(portfolio update end Oct 2023) part 1 SBS Transit related
https://lonewolfinvestor.blogspot.com/2023/10/wolf-moneyportfolio-update-for-end-oct.html?m=1
Wolf Money(portfolio update end Oct 2023) part 2 SBS Transit related
https://lonewolfinvestor.blogspot.com/2023/10/wolf-moneyportfolio-update-for-end.html#google_vignette
https://lonewolfinvestor.blogspot.com/2023/10/wolf-moneyportfolio-update-for-end-oct.html?m=1
Wolf Money(portfolio update end Oct 2023) part 2 SBS Transit related
https://lonewolfinvestor.blogspot.com/2023/10/wolf-moneyportfolio-update-for-end.html#google_vignette
Wolf Money(Portfolio update end Sept 2023) SBS Transit related 🙏
https://lonewolfinvestor.blogspot.com/2023/09/wolf-moneyportfolio-update-end-sept-2023.html
u win some, u lose some..
Entropy72 ( Date: 19-Aug-2023 20:06) Posted:
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Good. But too bad they lost the Jurong West parcel. At least some near term uncertainties removed.
Joelton ( Date: 19-Aug-2023 14:28) Posted:
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SBS Transit awarded second 5-year contract for Bukit Merah bus services
PUBLIC transport operator SBS Transit : S61 -1.15% has been awarded the Bukit Merah Bus Package &ndash a five-year contract comprising 17 bus services &ndash for a second consecutive term.
This marks the third bus tender award that SBS Transit has won under the new bus contracting model, the mainboard-listed company announced on Friday (Aug 18). The contract can be extended by between two and five years.
The bus services under the contract are supported by the Ulu Pandan Bus Depot and originate from two bus interchanges &ndash Bukit Merah and HarbourFront &ndash and four bus terminals &ndash Kampong Bahru, Marina Centre, Queen Street and Shenton Way. It includes two cross-border services to Johor Bahru.
SBS Transit was previously awarded a five-year contract to operate the Bukit Merah Bus Package in 2018. The new contract will commence immediately upon the expiry of the current one in April 2024, following a six-month extension.
In its tender proposal, SBS Transit committed to establishing a new training and certification centre for bus captains. The company also has plans to build on previous sustainability programmes and pledged to achieve net zero energy building status.
&ldquo To be awarded the contract for a second consecutive term underscores the vote of confidence and trust that the Land Transport Authority has placed on us,&rdquo said SBS Transit group chief executive Jeffrey Sim.
With the latest contract win, SBS Transit remains the biggest public bus operator holding a 55 per cent market share. It operates 192 bus routes in Singapore under eight bus packages, of which two are tendered and six are negotiated.
share price hopeless!
Joelton ( Date: 14-May-2023 11:39) Posted:
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SBS Transit Q1 net profit up 1.9% as ridership further improves
PUBLIC transport operator SBS Transit reported on Friday (May 12) a 1.9 per cent improvement in net profit for the first quarter on the back of higher revenue, as ridership improved.
Net profit for the three months ended Mar 31 rose to S$15.8 million, from S$15.5 million in the year-ago period, according to a business update by the company on the Singapore Exchange.
The improved profitability came despite SBS Transit facing an 8.3 per cent rise in operating costs to S$351.6 million, from S$324.7 million a year earlier. The increase was a result of higher fuel and electricity costs, which in turn were caused by higher average electricity prices and higher overtime costs.
SBS Transit&rsquo s operating profit for Q1 FY2023 stood at S$16.4 million, 15.6 per cent lower than the S$19.4 million in the year-ago period.
Revenue for the quarter rose 6.9 per cent to S$367.9 million, from S$344.1 million the year before, mainly due to higher fare revenue arising from higher rail ridership.
The transport operator noted that all remaining Covid-19 restrictions were lifted from Feb 13. It added that riderships for the North East Line and Downtown Line were respectively at 89 per cent and 88 per cent of their pre-Covid levels in Q1.
This was higher than the 67 per cent and 62 per cent respectively in the same period a year earlier, as well as the 85 per cent and 81 per cent respectively in Q4 2022.
Commenting on the outlook ahead, SBS Transit said: &ldquo While we expect rail ridership and other commercial services revenue to continue to improve, we are cautious that a full recovery to pre-pandemic levels may still take time.&rdquo
The company added that bus revenue will reflect the full-year impact of the lower service fees for the five extended negotiated bus packages contracts, which came into effect from Sep 1, 2022.
It also continues to face cost pressures, especially in energy and manpower, it said, adding that it &ldquo will continue to invest in technology and improve productivity to partially counter these&rdquo .
maybe they want to use them to buy EVs?
notapunter ( Date: 24-Feb-2023 17:38) Posted:
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point that out during the AGM..
notapunter ( Date: 24-Feb-2023 17:38) Posted:
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Why the cash holdings? Why is SBS not paying out more dividends like Vicom?
To the skies....or rather...the roads..
Joelton ( Date: 23-Feb-2023 10:26) Posted:
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SBS Transit H2 net profit more than doubles to S$33.4m on higher demand
TRANSPORT operator SBS Transit&rsquo s : S61 +1.56% net profit for its second half (H2) has more than doubled, on the back of increased demand for its services as Singapore emerged from the Covid-19 pandemic in 2022.
Net profit for the six months ended Dec 31, 2022 rose 120.2 per cent to S$33.4 million, from S$15.2 million in 2021.
This was due mainly to demand for the group&rsquo s services recovering from lowered demand in 2021, SBS Transit said in a regulatory filing on Wednesday (Feb 22).
Group revenue for H2 2022 came in at S$782.9 million, up 16.8 per cent from S$670 million in the second half of 2021.
However, it was moderated by an increase in operating costs in H2 2022 fuel and electricity costs rose 71 per cent to S$138.8 million, compared with the same period in 2021, while staff costs increased 16.9 per cent to S$363.6 million.
The board has proposed a final dividend of 5.45 Singapore cents per share for H2 2022, SBS Transit said.
For the full year ended Dec 31, 2022, net profit rose 31.7 per cent to S$68 million, while revenue gained 15.6 per cent to S$1.52 billion. Earnings per share for FY2022 stood at 21.81 Singapore cents per share, from 16.56 Singapore cents per share in FY2021.
Demand for rail services increased by 32.9 per cent in 2022, with some 360.7 million passenger trips made as more people returned to work and leisure activities with the easing of pandemic restrictions, SBS Transit said.
However, this was still 18.9 per cent below pre-Covid levels in 2019, the transport operator added.
&ldquo As Singapore moves closer to pre-pandemic normalcy, we expect demand for our services to grow, but we are mindful of the increased cost pressures from manpower and electricity,&rdquo said SBS Transit group chief executive Jeffrey Sim.
With the removal of the remaining Covid-19 restrictions in February, overall revenue is expected to improve, SBS Transit said. However, it expects revenue from bus operations to &ldquo see a hit&rdquo from revised lower service fees for five negotiated bus packages, which took effect from September last year.
SBS Transit reports 32% rise in full-year earnings to $68m on back of higher ridership
SBS TRANSIT TURNS IN FULL-YEAR REVENUE OF $1.5 BILLION
. Full-year Group revenue increased by 15.6% to $1.5 billion due mainly to higher ridership and higher fuel indexation.
&bull Full-year operating costs increased by 14.2% to $1.4 billion due largely to higher manpower cost and higher fuel and electricity costs.
&bull Full-year operating profit increased by 49.2% or $26.3 million to $79.9 million.
&bull Net profit attributable to shareholders increased by 31.7% to $68.0 million.
Dividend
A final tax-exempt one-tier dividend of 5.45 cents per share has been proposed. Together with the interim tax-exempt one-tier dividend of 5.45 cents paid earlier, the total dividend for 2022 will be 10.90 cents per share or a payout ratio of 50% if the final dividend is approved by shareholders at the Annual General Meeting on 27 April 2023
Highlights:
https://links.sgx.com/1.0.0/corporate-announcements/UUYM1G7YZ2FN1XSU/747332_SBST%20_%20Full%20Year%202022.pdf
. Full-year Group revenue increased by 15.6% to $1.5 billion due mainly to higher ridership and higher fuel indexation.
&bull Full-year operating costs increased by 14.2% to $1.4 billion due largely to higher manpower cost and higher fuel and electricity costs.
&bull Full-year operating profit increased by 49.2% or $26.3 million to $79.9 million.
&bull Net profit attributable to shareholders increased by 31.7% to $68.0 million.
Dividend
A final tax-exempt one-tier dividend of 5.45 cents per share has been proposed. Together with the interim tax-exempt one-tier dividend of 5.45 cents paid earlier, the total dividend for 2022 will be 10.90 cents per share or a payout ratio of 50% if the final dividend is approved by shareholders at the Annual General Meeting on 27 April 2023
Highlights:
| Full-Year 31 Dec 2022 ($&rsquo 000) |
Full-Year 31 Dec 2021 ($&rsquo 000) |
Change (%) | |
| Revenue | 1,515,311 | 1,310,842 | 15.6 |
| Operating Profit | 79,908 | 53,554 | 49.2 |
| Net Profit Attributable to Shareholders | 68,022 | 51,634 | 31.7 |
| EBITDA | 173,899 | 158,894 | 9.4 |
| EPS (based on existing share capital) - cents | 21.81 | 16.56 | 31.7 |
https://links.sgx.com/1.0.0/corporate-announcements/UUYM1G7YZ2FN1XSU/747332_SBST%20_%20Full%20Year%202022.pdf
So? Profit up...Price down...This is a hopeless stock..
Accidents, Covid-19, Low passenger ridership, Oil price up, COE up, Manpower expenses up...
It' s a GONER..
Accidents, Covid-19, Low passenger ridership, Oil price up, COE up, Manpower expenses up...
It' s a GONER..
Joelton ( Date: 12-Nov-2022 09:48) Posted:
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