2QFY13 HIGHLIGHTS
MRT segment saw a 6.5% YoY increase in operating profit to S$24.3m (-4% QoQ) due to higher revenue
and lower energy costs, partially offset by higher depreciation, repairs and maintenance and staff
costs (due to increased headcount for maintenance and increased train runs). MRT ridership recorded
a strong 7.9% growth to 1.9m/day in 1HQFY13.
Figure 1: MRT ridership/day of
MRT daily ridership for NSEWL & CCL 1-5
FYE Mar 2008 2009 2010 2011
2012 2013
All in '000
Apr 1,200 1,369 1,400
1,568 1,710 1,845
May 1,243 1,354 1,390
1,591 1,698 1,877
Jun 1,253 1,376 1,431
1,608 1,734 1,860
Jul 1,280 1,450 1,482
1,690 1,801 1,925
Aug 1,277 1,426 1,449
1,644 1,749 1,902
Sep 1,253 1,430 1,472
1,658 1,788 1,899
Oct 1,292 1,408 1,477
1,655 1,781
Nov 1,299 1,424 1,476
1,651 1,830
Dec 1,311 1,399 1,524
1,711 1,806
Jan 1,353 1,330 1,514
1,710 1,765
Feb 1,292 1,407 1,470
1,625 1,903
Mar 1,332 1,418 1,551
1,735 1,890
Apr-Sep FY avg 1,251 1,401 1,437 1,627
1,747 1,885
YoY growth 12.0% 2.6% 13.2%
7.4% 7.9%
Source: Company data
Bus operation. Though ridership was growing at 3.4% in 1HFY13, the bus division’s operating losses
widened to S$6.6m (+157% YoY, +28% QoQ) in 2QFY13. This was mainly due to higher staff costs
(increase in basic salary for bus service leaders and increased headcount), depreciation (due to a
larger fleet) and repair and maintenance.
Figure 2: Bus ridership/d
Bus daily ridership
FYE Mar 2008 2009 2010 2011
2012 2013
All in '000
Apr 753 806 782
844 899 922
May 759 785 791
837 887 928
Jun 722 755 760
799 851 881
Jul 776 827 817
880 921 948
Aug 767 804 796
850 895 933
Sep 750 793 790
861 897 919
Oct 766 800 814
867 888
Nov 736 773 779
838 871
Dec 709 738 756
817 846
Jan 809 781 831
892 892
Feb 773 810 810
857 938
Mar 770 783 833
888 916
Apr-Sep FY avg 755 795 790 845
892 922
YoY growth 5.4% -0.7% 7.1%
5.5%
Source: Company data
Taxi operation reported 2QFY13 EBIT of S$1.3m (+819% YoY, -13% QoQ). The stronger performance was
due to higher rental revenue from a larger hired out fleet, partially offset by higher depreciation
and repairs and maintenance.