SIA Engineering Company (SIAEC) has announced its highest net profit since 2021, driven by robust maintenance, repair, and overhaul (MRO) demand both in Singapore and internationally. The company reported a 21% increase in earnings, reaching S$168.9 million (approximately US$132.9 million) for the fiscal year ending March 2026.
During this period, SIAEC expanded or established operations in Cambodia, Malaysia, and China, while enhancing its capabilities through new partnerships with Pratt & Whitney and Safran Landing Systems. These strategic moves helped sustain double-digit growth in associated and joint venture companies, which saw a 22.5% rise in profit contributions.
Particularly benefiting from higher engine deliveries and better profit margins, the engine and component segments experienced a 23.1% profit increase. Additionally, increased aircraft movements at Singapore Changi Airport contributed to a 3.3% rise in line maintenance activity, with 162,608 aircraft handled during the year. Heavy maintenance checks saw a slight increase from 75 to 78 aircraft.
Despite these positive trends, the company indicated that geopolitical tensions could pose risks to future business conditions. In response, SIAEC emphasized its proactive approach, engaging with customers for new revenue opportunities and ensuring operational resilience to withstand potential disruptions.
"The group is closely monitoring developments and actively engaging with customers to seek new revenue opportunities. We are prepared to respond nimbly to changing circumstances by leveraging our diversified network, strong customer relationships and operational resilience to mitigate potential disruptions," the company stated. Additionally, it highlighted its commitment to disciplined cost management, especially in light of rising energy costs related to conflicts in the Middle East.
