Logotype for BOC Aviation Limited

BOC Aviation (2588) investor relations material

BOC Aviation H1 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for BOC Aviation Limited
H1 2025 earnings summary21 Aug, 2025

Executive summary

  • Net profit after tax for H1 2025 was US$342 million, down 26% year-over-year due to non-recurring 2024 items, but up 20% versus core NPAT in 1H 2024, with EPS at US$0.49 and an interim dividend of US$0.1476 per share, representing a 30% payout ratio.

  • Total revenues and other income rose 6% year-over-year to US$1.24 billion, driven by higher lease and finance income, marking the highest adjusted interim profit in company history.

  • Record first-half operating cash flow net of interest reached US$1.0 billion, up 10% year-over-year, reflecting strong liquidity.

  • Portfolio includes 834 aircraft and engines (owned, managed, on order), with 100% utilisation for two consecutive quarters and an orderbook of 351 aircraft.

  • Placed the largest aircraft order in company history in March 2025: 70 Airbus A320NEO and 50 Boeing 737-8, adding 143 delivery positions.

Financial highlights

  • Lease rental income grew 1% to US$937 million; finance lease interest surged 36% to US$130 million; net gain on sale of aircraft increased 8% to US$60 million from 18 aircraft sold.

  • Lease rate factor for operating leases improved to 10.3%; net lease yield at 7.5% (from 7.0%).

  • Total assets reached US$25.6 billion, with net assets at US$6.5 billion as of 30 June 2025.

  • Gross debt to equity ratio stable at 2.6x; net assets per share increased to US$9.37.

  • Effective tax rate rose to 15.8% due to global minimum tax rules, reducing net profit by US$16 million.

Outlook and guidance

  • Targeting US$40 billion in assets by 2030, requiring 8% annual growth, supported by a record US$20 billion order book and US$16.9 billion in future committed revenue.

  • All new aircraft scheduled for delivery and those with leases expiring before Q2 2027 have been placed, extended, or contracted for sale, ensuring revenue visibility.

  • Aircraft delivery value forecast to exceed US$100 billion in 2025, the highest since 2019.

  • Rising aircraft value premium of US$2.8 billion, reflecting strong market demand.

  • Anticipates further growth in pre-delivery payment financing and CapEx, contingent on manufacturer delivery ramp-ups.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next BOC Aviation earnings date

Logotype for BOC Aviation Limited
H2 202512 Mar, 2026
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next BOC Aviation earnings date

Logotype for BOC Aviation Limited
H2 202512 Mar, 2026

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

BOC Aviation Limited is a global aircraft operating leasing company, recognized for its industry-leading financial metrics and extensive fleet solutions. The company specializes in purchasing new, fuel-efficient, in-demand aircraft from manufacturers and leasing them to a globally diversified airline customer base. BOC Aviation's business model capitalizes on the long economic lives and mobility of its aircraft, along with long-term, U.S. Dollar-denominated cash flows. It maintains a young and in-demand fleet, with an average aircraft age of less than five years, supported by long-term contracted cash flows. The company's portfolio benefits from competitive pricing, efficient financing, comprehensive aircraft remarketing, technical management services, and finance leases for aircraft and engines. The company is headquartered in Singapore, and its shares are listed on the Hong Kong Stock Exchange.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage