SBS Transit (S61) AGM 2023 presentation summary

FY2022 financial performance

• Revenue $1,515.3m, up 15.6% YoY; operating costs $1,435.4m, up 14.2%.

• Operating profit $79.9m, up 49.3%; profit before tax $83.0m, up 58.1%; profit after tax $68.0m, up 31.8%.

• EBITDA $173.9m, up 9.4% YoY; earnings per share 21.8 cents, up 31.3%.

Balance sheet

• Cash and short-term deposits $345.30m at 31 Dec 2022, up 69.2% YoY; total assets $1,211.19m, up 5.0%.

• Total liabilities $566.90m, up 2.7%; equity $644.29m, up 7.1% at 31 Dec 2022.

• Significant liquidity supports operational flexibility and preparation for unforeseen risks.

Outlook and operating pressures

• Revenue expected to improve after remaining COVID-19 restrictions were removed from 13 Feb 2023; recovery is tempered by uncertain ridership and lower service fees on five negotiated bus contracts from Sep 2022.

• Rising staff costs amid a tight labour market and high energy prices remain cost pressures.