ComfortDelGro Corporation (C52) H1 2026 earnings summary

Executive summary

• 1H2026 revenue rose 5.7% YoY to $2,561.6m, while PATMI fell 19.7% to $85.1m as Public Transport growth was offset by Point-to-Point pressure.

• Priorities include growing contracted international Public Transport, shifting Point-to-Point toward premium and enterprise mobility, and developing AV and AI capabilities.

• Interim dividend held at 3.91 cents per share; stated dividend yield was 5.8% based on the 30 Jun 2026 share price.

Financial highlights

• Revenue rose $138.9m to $2,561.6m; operating costs increased 7.5% to $2,419.0m, including higher staff, fuel and electricity costs.

• Operating profit fell 17.3% to $142.6m; profit before tax declined 19.2% to $126.2m. Associate and JV results were a $1.1m loss, versus $1.1m profit, affected by Stockholm contract transition costs.

• PAT was $100.6m, down 19.5%; PATMI fell 19.7% to $85.1m. Basic and diluted EPS were 3.93 cents, down from 4.89 cents.

• EBITDA declined 6.6% to $340.9m; lower investment income was partly offset by finance costs down 25.4% to $21.2m.

Outlook and guidance

• Singapore rail revenue is expected to grow with ridership and the Dec 2025 fare adjustment; the Tampines Bus Package transferred to a new operator in Jul 2026.

• Public Transport opportunities include Liverpool and West Yorkshire tenders; the Copenhagen Metro bid was submitted with RATP Dev.

• Singapore Point-to-Point priorities include PHV fleet and network growth, maintaining the taxi fleet and enhancing B2B; Australia priorities include B2B growth and B2C stabilisation.

• AV operations in China and Singapore are targeted for scaling and commercialisation; London pilots are under exploration, with ~10% of the global Point-to-Point fleet targeted to be autonomous by 2030 subject to favourable conditions.

• OBU installations are tapering ahead of scheduled Dec 2026 completion; UK/EU Other Private Transport revenue is expected to strengthen over peak summer, with P&J Ellis contributing from 2H2026.