06-02-2016, 04:33 PM
http://www.sbstransit.com.sg/download/fy2015.pdf
4Q results are out though not much information can be gleaned from it about the shift towards to GCM. We will have to wait for the tender results for the 3rd contract to be out before we can get an idea of how much 'revenue' lies in the 20% share of the bus industry. The EBIT margin on an asset heavy model (which includes non-fare income) is merely 2.7%. No news on the upcoming disposal of bus assets to LTA (if any).
Trains reported a quarterly EBIT loss of $2.7 million in 4Q 2015 thus dragging its FY EBIT to $3.2 million profit . I expect this to improve once DTL gains sufficient ridership - aided by the opening of DTL2.
Share price has been resilient despite market weakness. Dividend yield is 1.3%. Ideally, this will improve from FY 2017 onward.
(Vested)
4Q results are out though not much information can be gleaned from it about the shift towards to GCM. We will have to wait for the tender results for the 3rd contract to be out before we can get an idea of how much 'revenue' lies in the 20% share of the bus industry. The EBIT margin on an asset heavy model (which includes non-fare income) is merely 2.7%. No news on the upcoming disposal of bus assets to LTA (if any).
Trains reported a quarterly EBIT loss of $2.7 million in 4Q 2015 thus dragging its FY EBIT to $3.2 million profit . I expect this to improve once DTL gains sufficient ridership - aided by the opening of DTL2.
Share price has been resilient despite market weakness. Dividend yield is 1.3%. Ideally, this will improve from FY 2017 onward.
(Vested)