SINGAPORE: Public transport operator SBS Transit on Tuesday (Feb 24) reported a 2.7 per cent fall in group revenue to S$1.52 billion (US$1.2 billion) for 2025.
Group operating costs slid by 2.5 per cent to S$1.45 billion mainly due to lower fuel and electricity costs from lower average diesel and electricity prices.
These were partially offset by higher rail licence charge and higher staff costs, SBS said.
The company also recorded a lower operating profit of S$68.1 million – a 6.9 per cent fall from the previous year.
Tax expense fell by 3.3 per cent to S$12.8 million mainly due to lower profits generated, SBS said.
Net profit attributable to shareholders slumped 13 per cent to S$61.2 million from the previous year.
SBS Transit Group CEO Jeffrey Sim said: “We remain focused on strengthening our competitive edge in our bus operations as well as in enhancing our rail reliability.
“We will continue to work closely with the LTA in implementing the Rail Reliability Taskforce recommendations to deliver a safe and pleasant journey for our commuters.”
The company’s full-year revenue from its public transport service businesses – comprising bus and rail services – fell by 3 per cent to S$1.45 billion in 2025.
The decrease was mainly due to lower bus revenue, arising largely from the loss of the Jurong West bus package from September 2024, which resulted in lower mileage, SBS said.
Rival operator SMRT has taken over the 26 routes in the Jurong West bus package.
The fall
SBS Transit’s rail services saw mixed average daily ridership across its three lines.
The North East Line saw an increase of 2.2 per cent to 602,000, while the Downtown Line also recorded a 1.1 per cent rise to 470,000.
The Sengkang-Punggol LRT reported a decrease in average daily ridership by 2.6 per cent to 157,000.
Operating profit from the firm's public transport businesses fell by 16 per cent to S$45.1 million due mainly to lower bus revenue and higher rail licence charge. This was offset partially by lower fuel and electricity costs arising from lower diesel and electricity prices.
Revenue from other commercial services rose by 5.1 per cent to S$62.8 million mainly due to advertisers launching more digital campaigns.
Operating profit from these services increased by 18.4 per cent to S$23 million, largely due to lower staff costs and advertising expenses. This was partially offset by higher advertising concession fees.
SBS Transit proposed a final tax-exempt one-tier dividend of 8.66 cents per share. The board also proposed a special dividend of 31.99 cents per ordinary share.
The final and special dividend is subject to approval by shareholders at the company’s annual general meeting on Apr 23 and will be payable on May 11.
Including the interim tax-exempt one-tier dividend of 8.95 cents paid earlier, SBS will pay a total dividend of 49.60 cents per share for 2025, up 42.2 per cent from 2024.
Bus operations revenue is expected to fall after the loss of the Tampines Bus Package from July 2026, SBS Transit said.
Rail operations revenue is expected to grow due to sustained increases in ridership and fare adjustments that came into effect on Dec 27, 2025, the company added.
Bus and train card fares went up by 9 to 10 cents per journey for adult commuters.
Concession card holders such as students, seniors and people with disabilities saw their fares increase by 3 to 4 cents for journeys beyond 3.2km.
Overall, fares increased by 5 per cent.
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Group operating costs slid by 2.5 per cent to S$1.45 billion mainly due to lower fuel and electricity costs from lower average diesel and electricity prices.
These were partially offset by higher rail licence charge and higher staff costs, SBS said.
The company also recorded a lower operating profit of S$68.1 million – a 6.9 per cent fall from the previous year.
Tax expense fell by 3.3 per cent to S$12.8 million mainly due to lower profits generated, SBS said.
Net profit attributable to shareholders slumped 13 per cent to S$61.2 million from the previous year.
SBS Transit Group CEO Jeffrey Sim said: “We remain focused on strengthening our competitive edge in our bus operations as well as in enhancing our rail reliability.
“We will continue to work closely with the LTA in implementing the Rail Reliability Taskforce recommendations to deliver a safe and pleasant journey for our commuters.”
The company’s full-year revenue from its public transport service businesses – comprising bus and rail services – fell by 3 per cent to S$1.45 billion in 2025.
The decrease was mainly due to lower bus revenue, arising largely from the loss of the Jurong West bus package from September 2024, which resulted in lower mileage, SBS said.
Rival operator SMRT has taken over the 26 routes in the Jurong West bus package.
The fall
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SBS Transit’s rail services saw mixed average daily ridership across its three lines.
The North East Line saw an increase of 2.2 per cent to 602,000, while the Downtown Line also recorded a 1.1 per cent rise to 470,000.
The Sengkang-Punggol LRT reported a decrease in average daily ridership by 2.6 per cent to 157,000.
Operating profit from the firm's public transport businesses fell by 16 per cent to S$45.1 million due mainly to lower bus revenue and higher rail licence charge. This was offset partially by lower fuel and electricity costs arising from lower diesel and electricity prices.
Revenue from other commercial services rose by 5.1 per cent to S$62.8 million mainly due to advertisers launching more digital campaigns.
Operating profit from these services increased by 18.4 per cent to S$23 million, largely due to lower staff costs and advertising expenses. This was partially offset by higher advertising concession fees.
SBS Transit proposed a final tax-exempt one-tier dividend of 8.66 cents per share. The board also proposed a special dividend of 31.99 cents per ordinary share.
The final and special dividend is subject to approval by shareholders at the company’s annual general meeting on Apr 23 and will be payable on May 11.
Including the interim tax-exempt one-tier dividend of 8.95 cents paid earlier, SBS will pay a total dividend of 49.60 cents per share for 2025, up 42.2 per cent from 2024.
Bus operations revenue is expected to fall after the loss of the Tampines Bus Package from July 2026, SBS Transit said.
Rail operations revenue is expected to grow due to sustained increases in ridership and fare adjustments that came into effect on Dec 27, 2025, the company added.
Bus and train card fares went up by 9 to 10 cents per journey for adult commuters.
Concession card holders such as students, seniors and people with disabilities saw their fares increase by 3 to 4 cents for journeys beyond 3.2km.
Overall, fares increased by 5 per cent.
Continue reading...