The company’s revenue from its public transport services business – comprising bus and rail services – increased by 2 per cent to S$1.5 billion in 2024.
The increase, which came mainly from higher rail ridership, was offset by lower bus revenue mileage.
Average daily ridership on SBS Transit’s rail services grew across its three lines.
The North East Line saw an increase of 3.3 per cent to 589,000, while the Downtown Line recorded a 5 per cent rise to 465,000. The Sengkang-Punggol LRT reported a 1 per cent growth in average daily ridership to 161,000.
Operating profit grew by 33.8 per cent to S$53.8 million due mainly to higher revenue, productivity savings, and lower fuel and electricity costs. This was offset by higher staff costs and a higher rail licence charge.
Revenue from other commercial services increased by 5.1 per cent to S$59.7 million, due mainly to advertisers launching more digital campaigns.
Operating profit fell by 46.8 per cent to S$19.4 million, largely due to the advertising concession fee payable from Jan 1, 2024 and higher premises costs. This was offset by higher revenue.
