ST Engineering Annual Report 2020

2020 2019 2018 2017 2016 $’000 $’000 $’000 $’000 $’000 Income Statement Revenue 1,440,638 1,457,644 1,302,809 1,262,659 1,405,316 Profit Profit from operations* 123,703 89,802 67,806 74,806 11,868 PBT 113,007 88,560 62,261 85,039 38,758 Net Profit 101,380 77,310 52,860 87,420 25,461 Balance Sheet Property, plant and equipment and right-of-use assets 342,680 324,748 235,445 296,739 298,689 Intangible and other assets 356,594 391,755 390,756 399,148 370,929 Inventories 577,763 611,576 605,464 521,923 547,476 Trade receivables, contract assets and advances and other receivables 369,233 322,640 343,882 285,862 328,146 Bank balances and other liquid funds 455,037 153,508 143,079 135,700 173,782 Current liabilities 659,012 787,281 807,427 595,097 836,529 Non-current liabilities 1,074,338 670,081 532,333 720,265 635,037 Share capital 194,445 194,445 194,445 194,445 194,445 Capital and other reserves (3,046) (6,897) 69 (2,537) 5,911 Retained earnings 164,396 148,016 172,770 120,667 35,769 Non-controlling interests 12,162 11,301 11,582 11,435 11,331 Financial Indicators Earnings per share (cents) 19.27 14.70 10.05 16.62 4.84 Net assets value per share (cents) 67.65 63.80 69.83 59.43 44.89 Return on sales (%) 7.1 5.3 4.1 7.0 1.2 Return on equity (%) 16.8 13.3 9.0 16.5 6.0 Return on capital employed (%) 13.5 8.1 6.2 9.4 3.3 Productivity Data Average staff strength (numbers) 4,466 4,647 4,754 4,899 5,801 Revenue per employee ($) 322,579 313,674 274,045 257,738 242,254 Net profit per employee ($) 22,700 16,637 11,119 17,844 4,389 Employment costs* 315,880 388,745 361,354 361,723 365,111 Employment costs per $ of revenue ($) 0.22 0.27 0.28 0.29 0.26 Economic Value Added 77,811 21,987 1,337 24,347 (39,512) Economic Value Added spread (%) 8.7 2.2 0.1 3.3 (6.0) Economic Value Added per employee ($) 17,423 4,731 281 4,970 (6,811) Value added 504,534 543,295 473,196 489,184 512,960 Value added per employee ($) 112,972 116,913 99,536 99,854 88,426 Value added per $ of employment costs ($) 1.60 1.40 1.31 1.35 1.40 Value added per $ of gross property, plant and equipment ($) 0.73 0.81 0.72 0.67 0.72 Value added per $ of revenue ($) 0.35 0.37 0.36 0.39 0.37 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 – LAND SYSTEMS (CURRENCY – SINGAPORE DOLLARS) FINANCIAL HIGHLIGHTS 29 7 ANNUAL REPORT 202 0 / CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT