SIA Engineering Company Ltd (SIAEC) booked a net profit attributable to shareholders of S$83.3 million for the six months ended 30 September 2025, up 21.2 per cent year-on-year, lifted by a rebound in maintenance, repair and overhaul (MRO) activity that pushed revenue 26.5 per cent higher to S$729.0 million.
Basic earnings per share rose to 7.45 Singapore cents from 6.13 cents a year earlier. The board declared a tax-exempt one-tier interim dividend of 2.5 cents per share—up from 2.0 cents a year ago—payable on 28 November 2025 to shareholders on the register as at 12 November 2025.
Operating profit improved to S$13.0 million from S$3.4 million despite a 25.0 per cent increase in expenditure to S$716.0 million, driven mainly by higher material and manpower costs, IT-related spending and a S$4.0 million provision for an onerous contract.
By segment, airframe & line maintenance revenue grew 15.7 per cent year-on-year to S$503.9 million, while engine & component revenue surged 60.0 per cent to S$225.1 million. Pre-tax contributions were dominated by the engine & component division, which delivered S$68.6 million—up S$12.4 million—while airframe & line maintenance added S$2.7 million. Share of profits from associated and joint-venture companies climbed 21.7 per cent to S$71.3 million.
Cash and cash equivalents stood at S$575.2 million at end-September, down from S$663.4 million six months earlier, reflecting higher capital expenditure, dividend payments and treasury-share purchases. Net asset value per share slipped to 151.4 cents from 153.9 cents at end-March.
Facing higher costs, SIAEC is pursuing several initiatives to bolster growth and efficiency. New comprehensive MRO agreements with Singapore Airlines and Scoot worth an estimated S$1.3 billion over two years commenced on 1 April 2025. The company’s joint venture TIA Engineering Services began line-maintenance operations at the new Techo International Airport in Phnom Penh on 9 September 2025. It is also expanding component- and engine-shop capabilities and rolling out its Enterprise Operating System across more units to raise productivity.
Looking ahead, SIAEC expects sustained MRO demand amid recovering air traffic, although it cautioned that supply-chain constraints and geopolitical tensions could weigh on operations. Management said the group will continue to expand its Asia-Pacific footprint, add next-generation aircraft capabilities and enhance operational resilience to support long-term growth.
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