SIA Engineering Company (SIAEC) has reported a net profit of $42.9 million for the 1QFY2026 ended June 30, 2025, 29.2% higher y-o-y.
The group reported a higher revenue for the 1QFY2026 of $358.4 million, up 33.4% y-o-y. Meanwhile, group expenditure rose 32% y-o-y to $353.3 million due to higher material and manpower costs.
As revenue grew at a faster pace than expenditure, SIAEC recorded an operating profit of $5.1 million, an improvement of $4.1 million y-o-y. Share of profits from associated and joint venture companies for the quarter was $37.8 million, a 35.0% y-o-y increase.
The engine and component segment and the airframe and line maintenance segment contributed to the improvement by $9.5 million and $0.3 million, respectively.
SIAEC says that it continued to see higher demand for its maintenance repair and overhaul (MRO) services for the quarter, and flight volumes across its line maintenance network
grew y-o-y, with 3.5% more flights handled in Singapore during the quarter compared to the same period last year.
At base maintenance in Singapore, aircraft maintenance check volumes remained healthy. Startup activities are progressing well at base maintenance Malaysia and the first of the two hangars in Subang is on track to come onstream by the end of this calendar year, with operations at its line maintenance joint venture in Cambodia expecting to commence in the second half of 2025.
See also: SingPost reports 60% lower operating profit in 1QFY2026 business update
The group renewed its comprehensive services agreements with Singapore Airlines and Scoot in April, which are valued at $1.3 billion and over a term of two years. Its 55% owned subsidiary, JADE Engineering, secured a contract for Boeing 777 cabin retrofit services.
Total assets as at June 30 stood at $2.15 million, 0.3% higher than March 31.
Shares in SIA Engineering Company closed 3 cents higher or 0.904% up at $3.35 on July 22.
