Strengthening Core Capabilities
We are committed to achieving greater
operational excellence and sustainability in our
Singapore home base to strengthen our core,
and to build our global leadership by replicating
these capabilities across our expanding network
through our twin-engine growth strategy.
53
M
inflight meal production capacity by 2025 after restarting operations in SATS Inflight Catering Centre 1
84
%
of pre-COVID volumes
from 43%
Unlocking Regional Potentials
Operationalising and expanding network of
food factories, central kitchens and catering
centres to leverage cross-geographical
efficiencies and scale to serve aviation and
non-aviation segments.
165.5
%
increased
share of earnings to the Group
21,553
sqm
launch
bolstering our presence in China with a new central kitchen
Extending Our Global Presence
By transforming SATS into a leading provider
of gateway services with more than 200
locations in over 20 countries, we will build
business resilience and capitalise on long-term
growth in air cargo including eCommerce and
specialised cargo handling.
We are at the starting point of a new and exciting journey of building greater resilience at SATS and creating long-term value for our stakeholders. Strengthening our core will give us the capability to expand our horizons
- Euleen GohChairman
- Kerry MokPresident and Chief Executive Officer
Financial Review
Strong revenue surge fueled by reopening of borders and AAT consolidation. Earnings impacted by cost inflation and one-time acquisition expenses.
Food Solutions Operations Review
SATS Food Solutions revenue grew 35.6%, or $228.3 million, to $869.3 million in FY23.
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Gateway Services Operations Review
Driven by travel recovery and higher cargo revenue, SATS Gateway Services revenue grew 66.9%, or $356.1 million, to $888.5 million in FY23.
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Corporate Governance Report
Our corporate governance principles reflect our focus on strong leadership, effective internal controls and risk management, a robust corporate culture, accountability to shareholders and engagement with stakeholders.
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Operational Excellence
Involving leaders at all levels, our Operational Excellence operating system aims to foster a culture of efficiency, continuous improvement and waste reduction by leveraging data, technology through a growth mindset.
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Sustainability
-
PCEO Statement
“We are conscious of the influence our business has on the environment and the communities we serve and have embedded sustainability in our strategy to strengthen our long-term value creation."
-
CSO Statement
"We will continue to raise the bar on sustainability in FY24. By mobilising and collaborating with our partners along the value chain, we aim to unlock the full potential of the ecosystem as a force for good."
-
Social Report
People are the raison d’être and stewards of our purpose to feed and connect communities. The pandemic deepened our sense of commitment and purpose.
-
Sustainability Framework
Our sustainability framework outlines how our response to global sustainability challenges will drive the future success of SATS as a business.
