Singapore-headquartered ground handler SATS reported a strong third quarter, supported by robust cargo volume growth across Asia, Europe and the Middle East — and by its ability to position operations to benefit from shifting trade flows amid tariff-policy uncertainty and geopolitical developments.
For the three months ended Dec. 31, SATS said revenue rose 8% to S$1.5 billion, driven primarily by cargo performance despite volatility in global trade flows.
EBITDA increased 12.8% to S$297.7 million. Operating profit climbed 18.8% year over year to S$151.3 million, with operating margin expanding from 8.4% to 9.2%. SATS attributed the improvement to operating leverage from increased volumes and sustained gains in operational efficiency.
Strategic expansion and commercial momentum
SATS pointed to several milestones over the past year, including:
• Opening a new air cargo facility at Changi Airport
• The selection of SATS Saudi Arabia to provide cargo handling services for Riyadh Air at multiple airports
• An agreement with Air China Cargo to pursue joint growth in cargo handling and integrated logistics solutions across key global markets
Meanwhile, its Worldwide Flight Services (WFS) subsidiary extended its partnership with Saudia Cargo, providing cargo handling services at eight international gateways in Europe and the U.S., among other developments.
Kerry Mok, SATS president and CEO, said the company delivered record-high cargo volume driven by seasonal peak demand, marking its ninth consecutive quarter outperforming industry benchmarks.
He cited additional commercial wins, including a new cargo and ramp contract in Paris with China Cargo, multi-station awards across Europe and the Americas with Saudia Cargo, and an inflight catering contract with Turkish Airlines — further expanding SATS’ global footprint.
Looking ahead, SATS expects continued volume growth across its network driven by market share gains and business from new customers.
SATS is one of the world’s largest air cargo handling providers and Asia’s leading airline caterer. SATS Gateway Services provides airfreight and ground handling services spanning passenger services, ramp and baggage handling, aviation security, aircraft cleaning and aviation laundry.
Following the acquisition of Worldwide Flight Services in 2023, the combined SATS-WFS network now operates more than 225 stations across 27 countries, with a presence in Asia Pacific, the Americas, Europe, the Middle East and Africa.
