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ComfortDelGro Posts Strong 1H2025 Results, Revenue Increases 14.4% With 11.2% PATMI Growth

  • Revenue rose to S$2.4 billion, marking a 14.4% year-on-year growth, while PATMI climbed to S$106 million, an 11.2% year-on-year improvement. 
  • Overseas revenue now accounts for over 50% of total revenue. 
  • Interim dividend of 3.91 cents per share declared, representing a payout ratio of 80%. 

SINGAPORE, 13 August 2025 – ComfortDelGro Corporation Limited (“ComfortDelGro” or, “the Group”) today announced its financial results for the first half of 2025. The Group reported stronger first half results year-on-year (YoY), with a total revenue of S$2.42 billion, a 14.4% increase YoY and PATMI of S$106.0 million, representing an 11.2% increase YoY.  

The Group’s Public Transport segment saw a 29.6% increase in operating profit YoY, mainly due to its London bus contract renewals at improved margins and the successful commencement of its four bus franchises in Greater Manchester as part of the Bee Network.    

Under its Taxi & Private Hire segment, the Group reported a 20.6% increase in operating profit compared to 1H2024. The Group saw full contribution from Addison Lee in the UK and A2B in Australia amidst increasing competition in the Singapore market and continuing economic challenges in China.   

Overseas revenue accounted for more than 50% of the Group’s total revenue for the first time. Overseas operating profit grew approximately 67.8% YoY, largely attributed to the full contribution from its 2024 acquisitions of Addison Lee, CMAC, and A2B.    

Mr Cheng Siak Kian, Managing Director/Group CEO of ComfortDelGro said: “The increase in overseas earnings reflects our focus on pursuing profitable international growth. The international Public Transport business continues to do well, underpinned by our ability to collaborate effectively with our clients to deliver valued services to support their transport goals. We continue to drive greater operational efficiencies and growth opportunities for our global taxi and private-hire network. In a time of uncertainty, we remain committed to the disciplined execution of our strategy, including leveraging technologies such as artificial intelligence and autonomous vehicles to build a future-ready ComfortDelGro.” 

The Group is actively enhancing and developing its long-term capabilities to maintain competitiveness. It continues to invest in Autonomous Vehicle (AV) technologies – such as robotaxis in China and AV shuttles in Singapore – and will leverage these experiences to further strengthen its AV deployment and fleet management strategies. ComfortDelGro has also been invited to participate in Singapore’s AV steering committee, contributing to the nation’s phased introduction of driverless vehicles. 

The Group continues to deploy Artificial Intelligence (AI) across its operations to optimise efficiency and improve services for passengers in its public transport business globally. Metroline introduced AI-powered scheduling to enhance its operations in London, and SBS Transit continues to leverage AI to enable predictive maintenance, reduce vehicle downtime, assist passengers, and support drivers in Singapore.   

Mr. Mark Greaves, Chairman of ComfortDelGro said: “Our track record as part of Singapore’s world-class transport system allows us to build a strong centre of excellence which underpins our overseas success and growth. We will continue to build more of these deep capabilities with our investment in AV and AI to meet evolving global mobility trends as part of our long-term strategy.” 

Dividend

In line with its performance, ComfortDelGro has proposed a tax-exempt one-tier dividend of 3.91 cents per share, representing a payout ratio of 80%.  

Financial Highlights

S$’m 

1H2025 

1H2024 

Change 

 

$m 

$m 

% 

Revenue 

2,422.7 

2,117.5 

14.4 

Operating profit  

172.5 

140.5 

22.8 

EBITDA 

364.9 

314.4 

16.1 

PATMI   

106.0 

95.3 

11.2 

EPS – cents 

4.89 

4.40 

11.1 

Outlook

  • Public Transport 
    • Singapore Public Transport  
      • Rail revenue is projected to increase with a steady growth in ridership.
      • Renewal of Tampines bus package awaiting results of tender.
      • Manpower costs are anticipated to rise in a tight labour market, partially offset by the easing of fuel and energy costs. 
    • UK / EU Public Transport 
      • London public bus contract renewals are expected to continue at improved margins.
      • The Group is participating in the ongoing Liverpool public bus franchise tender with further regional bus tenders anticipated. 
      • Stockholm E40 metro contract awarded to our JV Connecting Stockholm will commence from November 2025. 
      • The Group is partnering RATP Dev in the Copenhagen metro rail tender.  
    • Australia Public Transport  
      • The Metropolitan Zero Emission Bus franchises in Victoria have successfully commenced in July 2025, increasing our market share in Victoria by 30%. 
      • Industry-wide driver shortage is slowly easing. 
      • Metropolitan Victoria driver pay negotiations is ongoing with potential additional sporadic industrial action activities. 
      • The Group is partnering UGL Group and Hyundai Rotem in the Sydney Metro West rail tender. 
      • The Group is in the process of bidding as part of a consortium with UGL Group, East Japan Railway and Marubeni Corp to operate and maintain the metro lines in Melbourne from 2027. 
  • Taxi & Private Hire 
    • Premium and large B2B business segments are expected to remain stable. 
    • SME B2B business demand is expected to remain muted as economic uncertainties persist. 
    • B2C mass market segment is expected to remain under pressure with the intense competition from ride hailing companies.  
  • Inspection & Testing Services revenues are expected to remain elevated with the full-scale installation of On-Board Units for the Electronic Road Pricing 2.0 ongoing. 
  • Other Private Transport UK/EU revenues are expected to increase with the recently awarded “On The Beach” contract over the summer travel season. 
  • Other segments are expected to remain stable. 
  • Although the Group has no direct exposure to recently introduced trade tariffs, with recent geopolitical and trade tensions the Group continues to monitor foreign exchange and interest rates closely and take appropriate measures as necessary while continuing to execute its strategy. 

 

Media Contact Information:

Group Corporate Communications
ComfortDelGro Corporation Limited
[email protected]

About ComfortDelGro Corporation

ComfortDelGro is a leading multi-modal transport operator offering a comprehensive suite of transportation  solutions. Our extensive network spans public transport including buses and rail, point-to-point transport with taxis and private hire cars as well as business-to-business mobility solutions. Every day, millions rely on our services across 13 countries including; Singapore, Australia, the United Kingdom, New Zealand, China, Ireland, Sweden, France, Malaysia, Spain, Portugal, Greece, and the Netherlands. 

As a global operator, we play an important role in steering the transition towards a low-carbon economy. With about 60% of our owned fleet consisting of cleaner energy vehicles, we support governments and cities in enabling inclusive and sustainable transport systems. For our efforts, ComfortDelGro has been included in the Dow Jones Best-in-Class Indices since 2019, the only Singaporean transport company in the index.