SIA Engineering net profit up 29% YoY to $42.9m in Q1

Revenue also rose 33.4% YoY to $358.4m

SIA Engineering Group (SIAEC) posted a net profit of $42.9m for the first quarter ended 30 June 2025, up 29.2% or $9.7m from a year ago, driven by higher revenue and improved contributions from joint ventures.

Revenue rose 33.4% year-on-year to $358.4m, whilst expenditure increased 32.0% to $353.3m, mainly due to higher material and labour costs.

The group reported an operating profit of $5.1m, up $4.1m from the same period last year.

Share of profits from associated and joint venture companies climbed 35.0% to $37.8m, with the engine and component segment contributing $9.5m and the airframe and line maintenance segment adding $0.3m.

Equity attributable to shareholders rose 0.3% to $1,726.1m as at 30 June 2025. Total assets increased to $2,147.7m, also up 0.3% from the previous quarter.

Demand for the group’s maintenance, repair and overhaul (MRO) services also remained strong. Flight volumes at its line maintenance network grew, with 3.5% more flights handled in Singapore year-on-year. Base maintenance in Singapore saw stable aircraft check volumes.

In Malaysia, development of the Subang facility is on schedule, with the first hangar expected to be operational by year-end. In Cambodia, a new line maintenance joint venture is set to launch in the second half of 2025.

SIAEC also renewed service agreements with Singapore Airlines and Scoot worth an estimated $1.3b over two years, starting 1 April 2025, with an option to extend for one year. Its JADE Engineering unit won a contract for Boeing 777 cabin retrofits.

Looking ahead, the group expects continued growth in MRO demand, supported by rising passenger traffic in Asia-Pacific. It flagged ongoing risks from geopolitical tensions, trade uncertainties, and supply chain issues.

SIAEC said it remains focused on expanding regional capacity, supporting next-generation aircraft, and improving core services.

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