SMBC Aviation Capital reports $1.2 billion profit before tax in the financial year ended 31 March 2025

FY 2024 Highlights – well positioned to deliver further growth and portfolio optimisation, to drive long-term value

• Record profit before tax of $563 million, up 22% year-on-year, before exceptional items
• Profit before tax of $1.2 billion when including Russian insurance settlement proceeds of $630 million
• Core lease rental rose to $2 billion, up $59 million year-on-year, driven by continued incorporation of higher yielding aircraft into fleet
• Operating cash flow (adjusted for insurance settlements) of $1.9 billion, up $48 million year-on-year
• Signed $4 billion of new long-term leases over the last 12 months, ensuring 100% of portfolio is placed on leases through to late 2027

• Executed over 196 aircraft transactions during the year for the purchase, sale, and lease of aircraft across our delivered and committed fleet
• $3.3 billion of aircraft delivered, growing fleet to 510 aircraft, as of 31 March 2025
• Another record year for sales, trading 48 aircraft with $1.9 billion of total assets sales
• Total recoveries in Russian insurance settlement to date of $1.41bn, including $756 million in FY23, $630 million in FY24 and $24 million in FY25

Peter Barrett, CEO of SMBC Aviation Capital, commented:

“These very strong results demonstrate our continued ability to perform through the cycle and deliver for our customers and shareholders. Despite recent volatility, leading airlines continue to turn to SMBC Aviation Capital in even greater numbers and we are strongly positioned to drive further profit growth from our strategically timed asset purchases.

Our record performance demonstrates the underlying strength of our business, which has been made possible thanks to our talented team and the strong financial support from our shareholders, and we remain ideally placed to deliver further value with our broad product offering.”

Aisling Kenny, CFO of SMBC Aviation Capital, commented:

“During the year we continued to capitalise on positive demand dynamics and capture opportunities, integrating increasingly higher yielding aircraft into our fleet and signing $4 billion of new leasing agreements. At the same time, we took advantage of the robust aircraft trading market while also achieving further cash settlements in our Russian insurance litigation.

This success is the direct result of our long-term strategy to build a leading, in-demand portfolio of scale, underpinned by our disciplined approach to investment and portfolio management, coupled with significant balance sheet strength.”

-ENDS-

CONTACTS:

Media:

Conor Irwin, SMBC Aviation Capital                +353 87 381 6106

Richard Webster-Smith, FGS Global               +44 20 7251 3801

Richard Crowley, FGS Global                          +44 20 7251 3801

Investors:

Shane St Ledger, SMBC Aviation Capital        +353 86 173 0599

ABOUT SMBC AVIATION CAPITAL:

SMBC Aviation Capital is the second largest aircraft lessor globally by number of aircraft and benefits from the strong support of its shareholders Sumitomo Mitsui Financial Group and Sumitomo Corporation. SMBC Aviation Capital has a high-quality global airline customer base with a portfolio comprising 87% narrow-body aircraft and 73% new technology aircraft (by net book value). SMBC Aviation Capital has a strong capital position and holds an A- and BBB+ rating with S&P and Fitch respectively, reflecting the long-term strength of its business. For more information, please visit: https://www.smbc.aero/