NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 (CURRENCY - SINGAPORE DOLLARS UNLESS OTHERWISE STATED) B2 Revenue Disaggregation of revenue In the following table, revenue is disaggregated by major products/services lines and timing of revenue recognition. The table also includes a reconciliation of the disaggregated revenue with the Group’s reportable segments. Commercial Aerospace Urban Solutions & Satcom 2022 $'000 2021 $'000 2022 $'000 2021 $'000 Major products/services lines Sale of goods 1,292,277 1,120,982 569,464 510,964 Service income 130,101 144,435 580,014 185,917 Contract revenue 1,630,381 1,259,536 671,326 556,921 3,052,759 2,524,953 1,820,804 1,253,802 Timing of revenue recognition Transferred at a point in time 1,680,176 1,429,910 835,367 771,518 Transferred over time 1,372,583 1,095,043 985,437 482,284 3,052,759 2,524,953 1,820,804 1,253,802 148 ST ENGINEERING ANNUAL REPORT 2022
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