What could further lift SIA Engineering’s revenues in FY2022?
In Q3 FY22, SIAEC saw its revenues rise by 33.8% YoY.
SIA Engineering Company posted higher than expected financial results in the third quarter (Q3) of the financial year (FY) 2022, with revenues rising 33.8% year-on-year (YoY) to $140.0m, and this growth will likely continue as Singapore progressively reopens borders, the OCBC Investment Research said.
As Singapore presses on with its “living with the pandemic” strategy, and global travel demand recovers, we believe SIAEC will be a key beneficiary,” the analyst said.
In Q3 FY 2022, the number of flights handled at Changi by line maintenance grew 65% YoY, or 17% quarter-on-quarter to 12,860.
Apart from recovery from flight activities, the company would also benefit from the formation of its new component and services division that is expected to grow its component maintenance, repair, and overhaul (MRO) business.
The company has earlier expressed optimisation about the demand outlook and growth for the MRO industry.
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