Link: https://links.sgx.com/1.0.0/corporate-announcements/JXEQ2CUULTF7RIZA/f074487097a60cbffc3d63f1065bd84e0b34192d87e35cc43ed7198e06a08c51

Summary:

• Revenue rose 9.9% year-on-year to S$1.51 billion for 1Q FY26, driven by strong volume in cargo and aviation food services as well as market share gains.

• EBITDA increased by 9.9% to S$273.8 million with stable margins at 18.2%; operating profit climbed 10.9% to S$125.2 million.

• Net profit attributable to owners (PATMI) grew to S$70.9 million, up 9.1% year-on-year.

• Gateway Services revenue jumped 11.2% to S$1.18 billion, outperforming IATA’s global cargo growth benchmarks.

• Food Solutions revenue was S$328.3 million (+5.6%), supported by rising inflight meal demand.

• Group handled 158,800 flights (+2.6%) and processed 2.38 million tonnes of cargo/mail (+10.4%) in the quarter.

• Cash flow from operations, after lease repayment, was S$45.8 million, but free cash flow turned slightly negative (-S$4.5 million) due to delayed customer payments past quarter end.

• Company’s financial position remains strong, with total assets at S$8.82 billion and net asset value per share flat at S$1.74.

• New major airline clients (e.g., Cathay Cargo, Emirates, Turkish Airlines) contributed to portfolio expansion.

• Outlook: Gateway Services expected to remain resilient, Food Solutions to benefit from travel demand, and continued strategic investments to strengthen leadership in aviation services.