AGM 2024

SATS 51ˢᵗ Annual General Meeting

Delivering Global Solutions Delighting Customers

SATS will be convening its 51ˢᵗ Annual General Meeting (AGM) at the Grand Ballroom, Level 4, Grand Copthorne Waterfront Hotel Singapore, 392 Havelock Road, Singapore 169663 on Friday, 19 July 2024 at 11.00 a.m. The meeting will be held in a wholly physical format. There will be no option for shareholders to participate virtually.

In the fiscal year of 2024, SATS returned to profitability thanks to the significant recovery in the aviation industry, which shows promising signs of continued tailwinds. According to IATA, the aviation industry experienced a remarkable 36.9% year-on-year growth in 2023 and air traffic reached 94.1% of 2019 levels, marking a significant increase from 2022.

SATS Annual Report FY2023-24

Think Global, Act Local

SATS Group is building the foundation for a global company with exciting growth prospects in Asia and worldwide. Our focus is to integrate intelligently and intentionally, in line with our commitment to bolstering core capabilities in Singapore and expanding internationally.

Spearhead End-to-end, Value-added Solutions

SATS and WFS have excellent operational processes and best practices. We will adopt best practices from both worlds to make a better world. This gives us an opportunity to create an “iron sharpens iron” environment, where both companies learn from each other and sharpen the whole.

Stay Focused on People

We are taking this opportunity to create an integrated team working as one unit, focused on delivering value to our customers. By marrying the cultures of SATS and WFS, we will create a dynamic and refreshed culture. Our aim is to lead our people towards individual and organisational success.

As I reflect on my SATS journey in this, my final letter to you as Chairman, I have immense pride that SATS is evolving into a global aviation powerhouse, able to generate and sustain long-term value not just for you, our shareholder, but the wider aviation ecosystem.
  • Euleen GohChairman
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PCEO Statement
In FY2023-24, we achieved record revenues of S$5.1 billion and delivered a profit of S$56.4 million, a significant turnaround from three years of consecutive losses. This revenue growth was a result of the WFS acquisition and aviation recovery.
  • Kerry MokPresident & Chief Executive Officer
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Financial Review

It has been a dynamic year as we ramped up our operations to manage larger volumes across our network, stabilise the productivity of our workforce and manage inflationary pressures.

Return on Equity
Total RevenueImproved from S$1,758.3M in FY2022-23
Total RevenueImproved from S$1,758.3M in FY2022-23
78.5%Gateway Services
21.5%Food Solutions