ST Engineering Annual Report 2020

NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) B2 Revenue Disaggregation of revenue In the following table, revenue is disaggregated by primary geographical market, major products/service lines and timing of revenue recognition. The table also includes a reconciliation of the disaggregated revenue with the Group’s reportable segments. Aerospace Electronics* Land Systems $’000 $’000 $’000 2020 2019 2020 2019 2020 2019 Primary geographical markets Asia 838,322 1,291,747 1,669,364 1,746,559 1,095,147 996,353 U.S. 751,879 780,228 309,404 273,048 269,828 382,407 Europe 961,756 1,134,494 201,684 181,368 3,527 10,424 Others 163,743 248,553 138,770 163,671 72,136 68,460 2,715,700 3,455,022 2,319,222 2,364,646 1,440,638 1,457,644 Major products/ service lines Sale of goods 1,086,759 1,144,895 508,595 524,364 996,686 1,017,422 Service income 154,010 202,318 797,342 725,629 411,518 423,544 Contract revenue 1,474,931 2,107,809 1,013,285 1,114,653 32,434 16,678 2,715,700 3,455,022 2,319,222 2,364,646 1,440,638 1,457,644 Timing of revenue recognition Transferred at a point in time 1,280,568 1,538,804 959,805 1,063,140 1,073,587 1,138,438 Transferred over time 1,435,132 1,916,218 1,359,417 1,301,506 367,051 319,206 2,715,700 3,455,022 2,319,222 2,364,646 1,440,638 1,457,644 * With effect from 1 January 2020, Miltope Corporation was re-organised from Others into Electronics sector and comparatives were restated in conformance with current year classification. Timing of revenue recognised and the classification of major products/service lines in Aerospace were reclassified in conformance with current year classification. / ST ENG I NEER I NG 164