Crunching the numbers behind Sats’ FY2028 targets
Sats’ market cap goal of S$10 billion translates to a price of S$6.71 a share, at the current level of ordinary equity
INFLIGHT caterer and ground handler Sats has set for itself some ambitious targets, after posting an improved set of financial results for FY2024 to March.
Its full-year revenue hit a record S$5.1 billion, and its net profit climbed into positive territory – at S$56.4 million – for the first time since the pandemic devastated the aviation sector in 2020.
The announcement of Sats’ FY2024 results was closely watched by the industry, given that it was the first full year that included the contributions from air-cargo handler Worldwide Flight Services (WFS). The company was brought into the fold in April 2023, after an acquisition at an enterprise value of 2.3 billion euros (S$3.4 billion).
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