NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 (CURRENCY - SINGAPORE DOLLARS UNLESS OTHERWISE STATED) B1 Segment information (continued) 2021 Commercial Aerospace $’000 Urban Solutions & Satcom $’000 Defence & Public Security $’000 Elimination $’000 Group $’000 Revenue External sales 2,464,827 1,190,536 4,037,502 – 7,692,865 Inter-segment sales 60,126 63,266 41,381 (164,773) – 2,524,953 1,253,802 4,078,883 (164,773) 7,692,865 Reportable segment profit from operations 162,307 34,695 448,911 – 645,913 Non-operating income, net (582) – 12,324 – 11,742 Share of results of associates and joint ventures, net of tax 20,143 (8,914) 4,762 – 15,991 Earnings before interest and tax 181,868 25,781 465,997 – 673,646 Finance income 11,686 Finance costs (47,725) Profit before taxation 637,607 Taxation (70,636) Non-controlling interests 3,569 Profit attributable to shareholders 570,540 Other assets 3,746,315 2,342,589 5,792,972 (2,872,586) 9,009,290 Associates and joint ventures 303,443 53,388 126,066 – 482,897 Segment assets 4,049,758 2,395,977 5,919,038 (2,872,586) 9,492,187 Deferred tax assets 207,548 Bank balances and other liquid funds 815,924 Total Assets 10,515,659 Segment liabilities 1,634,740 943,732 4,616,915 (1,799,032) 5,396,355 Provision for taxation 161,208 Deferred tax liabilities 174,661 Borrowings 2,115,220 Total Liabilities 7,847,444 Capital expenditure 310,438 102,278 173,704 (62,798) 523,622 Depreciation and amortisation 176,665 80,680 143,016 (2,271) 398,090 Impairment losses 21,259 – 5,000 – 26,259 146 ST ENGINEERING ANNUAL REPORT 2022
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