Singapore Shipping Full Year 2024 Earnings: EPS: US$0.023 (vs US$0.029 in FY 2023)

Simply Wall St

July 18, 2024

Singapore Shipping (SGX:S19) Full Year 2024 Results

Key Financial Results

Revenue: US$45.5m (down 4.0% from FY 2023).
Net income: US$9.14m (down 21% from FY 2023).
Profit margin: 20% (down from 24% in FY 2023). The decrease in margin was primarily driven by lower revenue.
EPS: US$0.023 (down from US$0.029 in FY 2023).

revenue-and-expenses-breakdown — SGX:S19 Revenue and Expenses Breakdown July 18th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

The primary driver behind last 12 months revenue was the Ship Owning segment contributing a total revenue of US$31.6m (69% of total revenue). Notably, cost of sales worth US$27.7m amounted to 61% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$8.16m (84% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of US$1.09m. Explore how S19's revenue and expenses shape its earnings.

Singapore Shipping's share price is broadly unchanged from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 2 warning signs for Singapore Shipping you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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