In this article, I’ll be taking a detailed look at the revenue drivers for SATS Ltd – on the factors that drive the company’s revenue. I was inspired to write a post on breaking down the revenue drivers for SATS, after reading a post on Wall Street Oasis. I was on the forum to find out more about working at an asset management firm, and came across a post that shared about how fund managers evaluate investments – with a strong emphasis on the P&L of the company. Basically, when projecting revenue and profits, the analysts would attempt to breakdown the revenue into segments and arrive at a certain price x quantity for each segment. I would attempt to apply the same framework to analysing SATS.

Business Overview
SATS is a leading provider of gateway services and food solutions in Asia. As the main ground handling service provider at Changi Airport, it