ST Engineering Annual Report 2020

NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) B1 Segment information (continued) 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. Inter-segment pricing is based on terms negotiated between the parties which are intended to reflect competitive terms. Aerospace Electronics Land Systems Marine Others Elimination Group $’000 $’000 $’000 $’000 $’000 $’000 $’000 2020 Revenue External sales 2,713,565 2,286,556 1,410,727 710,377 37,061 – 7,158,286 Inter-segment sales 2,135 32,666 29,911 341 1,729 (66,782) – 2,715,700 2,319,222 1,440,638 710,718 38,790 (66,782) 7,158,286 Reportable segment profit from operations 198,567 244,752 123,703 14,366 (20,525) – 560,863 Other income 5,059 10,578 3,114 3,984 1,078 (9,387) 14,426 Other expenses (2,737) (722) (4,089) (30) (5,380) 3,630 (9,328) Finance income 6,348 1,913 2,144 3,072 42,588 (46,791) 9,274 Finance costs (39,261) (20,576) (9,166) (5,039) (48,255) 51,075 (71,222) Share of results of associates and joint ventures, net of tax 34,501 (6,587) (2,699) 474 4,700 – 30,389 Profit before taxation 202,477 229,358 113,007 16,827 (25,794) (1,473) 534,402 Taxation (8,351) (23,832) (10,711) 11,467 22,648 – (8,779) Non-controlling interests (1,228) (1,639) (916) – – – (3,783) Profit attributable to shareholders 192,898 203,887 101,380 28,294 (3,146) (1,473) 521,840 Other assets 4,385,392 3,007,807 2,031,956 858,022 5,531,999 (6,722,763) 9,092,413 Associates and joint ventures 284,446 67,871 69,351 4,244 43,000 – 468,912 Segment assets 4,669,838 3,075,678 2,101,307 862,266 5,574,999 (6,722,763) 9,561,325 Segment liabilities 3,744,101 2,469,685 1,733,350 908,105 3,336,267 (5,204,972) 6,986,536 Capital expenditure 106,680 122,537 56,726 29,569 28,416 – 343,928 Depreciation and amortisation 181,859 101,231 57,009 27,016 15,945 (4,429) 378,631 Impairment losses 38,837 1,405 13,538 – – – 53,780 Other non-cash expenses 819 31 24 – – – 874 16 1 ANNUAL REPORT 2 0 2 0 / CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT