ST Engineering Annual Report 2020

2020 2019 2018 2017 2016 $’000 $’000 $’000 $’000 $’000 Income Statement Revenue 2,319,222 2,364,646 2,210,533 2,124,159 1,983,330 Profit Profit from operations* 244,752 223,939 214,608 200,104 185,704 PBT 229,358 216,283 211,869 197,200 186,955 Net Profit 203,887 183,323 176,874 163,022 162,660 Balance Sheet Property, plant and equipment and right-of-use assets 387,799 392,366 250,872 239,531 219,429 Intangible and other assets 925,496 903,320 521,265 496,569 480,169 Inventories 109,372 139,367 123,081 109,379 630,930 Trade receivables, contract assets and advances and other receivables 1,175,150 1,299,162 1,127,540 907,289 597,395 Bank balances and other liquid funds 477,861 488,931 314,615 301,827 242,081 Current liabilities 1,386,298 1,635,846 1,456,436 1,219,300 1,298,937 Non-current liabilities 1,083,387 1,087,245 557,670 542,730 582,844 Share capital 52,522 52,522 52,522 52,522 52,522 Capital and other reserves (25,999) (26,709) (16,429) (23,742) 9,147 Retained earnings 566,854 463,311 280,398 257,762 219,944 Non-controlling interests 12,616 10,931 6,776 6,023 6,610 Financial Indicators Earnings per share (cents) 194.10 174.52 168.38 155.19 154.85 Net assets value per share (cents) 564.88 465.63 301.29 272.78 268.09 Return on sales (%) 8.9 7.8 8.0 7.7 8.2 Return on equity (%) 25.7 26.6 34.3 33.5 33.8 Return on capital employed (%) 10.8 17.1 23.2 20.0 20.5 Productivity Data Average staff strength (numbers) 7,032 6,797 6,484 6,700 6,707 Revenue per employee ($) 329,810 347,896 340,921 317,039 295,710 Net profit per employee ($) 28,994 26,971 27,279 24,332 24,252 Employment costs* 658,757 692,234 615,373 644,303 629,213 Employment costs per $ of revenue 0.28 0.29 0.28 0.30 0.32 Economic Value Added 108,474 140,839 155,155 131,504 122,507 Economic Value Added Spread (%) 6.1 11.2 17.0 13.9 14.4 Economic Value Added per employee ($) 15,426 20,721 23,929 19,627 18,266 Value added 1,014,381 1,028,424 905,292 909,559 902,463 Value added per employee ($) 144,252 151,306 139,619 135,755 134,555 Value added per $ of employment costs 1.54 1.49 1.47 1.41 1.43 Value added per $ of gross property, plant and equipment 1.42 1.58 1.54 1.68 1.82 Value added per $ of revenue 0.44 0.43 0.41 0.43 0.46 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 – ELECTRONICS (CURRENCY – SINGAPORE DOLLARS) FINANCIAL HIGHLIGHTS 29 3 ANNUAL REPORT 202 0 / CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT