SBS Transit has reported earnings of $15.94 million for 1QFY2025 ended March 31, 2025, down 6.2% y-o-y.
The transport operator’s revenue came in 4.7% y-o-y lower for the quarter at $373.81 million due to lower service fee for buses which was a product of the company losing Jurong West package from September.
However, the losses were minimised due to higher rail fare revenue. Other commercial services also saw a growth in revenue mainly due to more advertising revenue.
For 1QFY2025, SBS Transit reported a higher operating profit of $17.32 million, up 0.4% y-o-y due to lower fuel and electricity costs, and lower repairs and maintenance costs. The company says that this was partially offset by higher rail licence charges.
The lower interest income and higher tax expenses have therefore let to earnings declining for the quarter.
As at March 31, total assets for the group came in at $1.12 billion, a 3.6% q-o-q decrease from the $1.16 billion recorded a quarter ago.
See also: F&N reports 1HFY2025 earnings of $84.1 mil 0.3% higher y-o-y
This is due to a decrease in trade and other receivables and depreciation of vehicles, premises and equipment.
Average daily ridership for the North East Line and Downtown Line for 1QFY2025 came in at 595,000 and 586,000, up 2.9% q-o-q and 2.4% q-o-q respectively.
SBS Transit has submitted its bid for the PT220 Tampines bus tender and this new package is to commence on July 16, 2026. Results are expected to be announced inJuly/August 2025.
Shares in SBS Transit closed 3 cents higher or 1.111% up at $2.73 on May 9.
