SBS Transit FY2025 revenue dips 2.7% to S$1.52b, net profit down 13% to S$61.2m, but board declares hefty 49.6-cent total dividend including large special payout
Summary:
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Full-year Group revenue fell 2.7% to S$1.52 billion, while operating profit declined 6.9% to S$68.1 million and net profit attributable to shareholders slid 13% to S$61.2 million.
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Operating costs decreased 2.5% to S$1.45 billion on lower diesel and electricity prices, partly offset by higher rail licence charges and staff costs, leaving EBITDA at S$150.6 million, down 6.0% year on year.
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Public Transport Services revenue fell 3.0% to S$1.45 billion, mainly from the loss of the Jurong West bus package, while rail revenue grew on higher fares and ridership; Other Commercial Services revenue rose 5.1% to S$62.8 million with operating profit up 18.4% to S$23.0 million.
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The board recommends a final dividend of 8.66 cents and a special dividend of 31.99 cents per share, taking total FY2025 dividends (including 8.95-cent interim) to 49.60 cents and implying a payout ratio of 253%, following a review of capital needs.
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Looking ahead, bus revenue is expected to decline after loss of the Tampines Bus Package from July 2026, while rail operations should benefit from the December 2025 fare hike and continued ridership growth.