ST Engineering Annual Report 2020

2020 2019 2018 2017 2016 $’000 $’000 $’000 $’000 $’000 Income Statement Revenue 2,715,700 3,455,022 2,654,119 2,546,913 2,492,857 Profit Profit from operations* 196,905 314,337 277,457 277,636 250,780 PBT 202,477 332,772 319,995 318,465 300,318 Net Profit 192,898 268,896 244,627 244,840 234,385 Balance Sheet Property, plant and equipment and right-of-use assets 1,310,620 1,332,777 930,228 848,949 833,628 Intangible and other assets 1,354,204 1,407,245 845,352 800,038 730,305 Inventories 532,802 526,098 410,712 368,621 475,477 Trade receivables, contract assets and advance and other receivables 825,418 1,071,812 873,215 740,288 702,743 Bank balances and other liquid funds 646,794 331,674 294,210 322,896 272,683 Current liabilities 1,839,775 2,047,754 1,746,476 1,462,317 1,339,342 Non-current liabilities 1,904,326 1,733,262 648,205 658,740 691,214 Share capital 368,512 368,512 368,512 368,512 368,512 Capital and other reserves 1,057 (66,870) (14,683) (4,576) (9,517) Retained earnings 299,212 340,911 335,789 332,389 381,810 Non-controlling interests 256,956 246,037 269,418 263,410 243,475 Financial Indicators Earnings per share (cents) 41.17 57.39 52.21 52.26 50.03 Net assets value per share (cents) 142.75 137.15 147.19 148.62 158.12 Return on sales (%) 7.1 8.2 10.0 10.5 10.1 Return on equity (%) 25.2 36.4 31.2 30.9 28.1 Return on capital employed (%) 7.1 9.7 13.6 13.3 13.7 Productivity Data Average staff strength (numbers) 8,870 8,581 8,182 8,192 7,600 Revenue per employee ($) 306,167 402,636 324,385 310,902 328,008 Net profit per employee ($) 21,747 31,336 29,898 29,888 30,840 Employment costs* 674,040 910,155 758,423 751,194 742,539 Employment costs per $ of revenue ($) 0.25 0.26 0.29 0.29 0.30 Economic Value Added 105,799 122,026 150,859 141,259 154,055 Economic Value Added spread (%) 3.0 4.0 7.6 7.2 7.9 Economic Value Added per employee ($) 11,928 14,220 18,438 17,244 20,270 Value added 1,159,910 1,545,979 1,209,185 1,190,984 1,178,284 Value added per employee ($) 130,768 180,163 147,786 145,384 155,037 Value added per $ of employment costs ($) 1.72 1.70 1.59 1.59 1.59 Value added per $ of gross property, plant and equipment ($) 0.56 0.76 0.66 0.70 0.72 Value added per $ of revenue ($) 0.43 0.45 0.46 0.47 0.47 Figures for FY2016 were prepared in accordance with the previous FRS and were not restated on adoption of SFRS(I) in FY2018. The Group adopted SFRS(I) 16 effective on 1 January 2019 and applied the modified retrospective approach with no restatement of comparative information . * Government grants in the prior years were reclassified from other income to underlying expenses in conformance with current year classification. SECTORAL FINANCIAL REVIEW – AEROSPACE (CURRENCY – SINGAPORE DOLLARS) FINANCIAL HIGHLIGHTS 28 9 ANNUAL REPORT 202 0 / CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT