If the special projects are not included, the group achieved a net profit of 685 million yuan, an increase of 68% year-on-year.
The number of travelers increased, driving the group's total revenue to 13% to 3 billion yuan; EBITDA increased by 22% year-on-year to 1.466 billion yuan.
The full-year performance report for fiscal year 2024/25 released by Changi Airport Group on the Singapore Exchange website on Thursday (May 22) showed that net profit increased by 95% year-on-year due to the inclusion of special items. Special items include non-cash revaluation income and subsidiaries’ reserve reversal (write back).
The recovery of air travel has driven Changi Airport Group's net profit to nearly double year-on-year to 841 million yuan in the fiscal year ended March.
The airport passenger flow hit a new high of 68.4 million, while the air traffic took off and landed 371,000, an increase of 8% year-on-year.
Although the performance is good, the group said that due to the continued uncertainty of the global economy, consumer confidence and expenses continue to be suppressed, and the operating income is still sluggish.
Group's operating expenses increased by 5% year-on-year to 1.6 billion yuan. The group said that despite the inflationary pressure, it pointed out that it has successfully suppressed the rise in operating costs through strict control of core operations and maintenance.