NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 (CURRENCY - SINGAPORE DOLLARS UNLESS OTHERWISE STATED) B. BUSINESS PERFORMANCE The highlights of the Group’s financial performance during the financial year are: • Revenue of $9.0 billion, up 17% • Earnings before interest and tax of $735.1 million, up 9% • Profit before taxation of $597.5 million, lower by 6% • Profit attributable to shareholders of $535.0 million, lower by 6% • Earnings per share of 17.18 cents per share, lower by 6% B1 Segment information B4 Non-operating income, net B2 Revenue B5 Earnings per share B3 Profit from operations B6 Taxation B1 Segment information The Commercial cluster drives the Group’s international growth through areas in Commercial Aerospace, and Urban Solutions & Satcom domains, to be known as Global Business Areas (or GBAs), which are also reportable business segments. The Defence & Public Security cluster integrates capabilities organised as a single cluster which is a reportable business segment, comprising Defence Business Areas (or DBAs), namely Digital Systems and Cyber, Land Systems, Marine and Defence Aerospace. Management reviews the segments’ operating results regularly in order to allocate resources to the segments and to assess the segments’ performance. The principal activities of the operating segments are outlined below: Segments Principal activities Commercial Aerospace Airframe, engines and components maintenance, repair and overhaul, original equipment manufacturer for nacelles, composite floorboard and passenger-to-freighter conversions and aviation asset management. Urban Solutions & Satcom Smart mobility, smart utilities & infrastructure, urban environment solutions and satcom. Defence & Public Security Defence, public safety and security, critical information infrastructure solutions and others, including Group HQ functions. Segment performance is evaluated based on operating profit or loss which in certain respects, as explained in the table below, is measured differently from operating profit or loss in the consolidated financial statements. 144 ST ENGINEERING ANNUAL REPORT 2022
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