ST Engineering Annual Report 2020

2020 2019 2018 2017 2016 $’000 $’000 $’000 $’000 $’000 Income Statement Revenue 710,718 647,151 574,354 637,531 841,160 Profit Profit from operations* 14,366 56,392 46,698 17,342 67,222 PBT 16,827 60,829 50,260 22,408 75,121 Net Profit 28,294 51,542 45,201 27,049 67,757 Balance Sheet Property, plant and equipment and right-of-use assets 200,392 201,378 303,001 319,653 315,031 Intangible and other assets 122,395 95,228 167,477 192,731 190,348 Inventories 46,045 32,631 43,412 81,004 239,936 Trade receivables, contract assets and advances and other receivables 186,563 156,987 126,281 224,658 148,699 Bank balances and other liquid funds 306,871 321,922 164,006 84,751 81,860 Current liabilities 812,742 714,705 665,309 683,368 715,617 Non-current liabilities 95,363 88,454 96,287 100,581 93,856 Share capital 50,856 50,856 50,856 50,856 50,856 Capital and other reserves 13,872 7,992 10,977 12,445 9,863 Retained earnings (110,567) (53,861) (19,252) 55,547 105,656 Non-controlling interests – – – – 26 Financial Indicators Earnings per share (cents) 14.47 26.35 23.11 13.83 34.65 Net assets value per share (cents) (23.44) 2.55 21.77 60.77 85.07 Return on sales (%) 4.0 8.0 7.9 4.2 8.1 Return on equity (%) (145.1) 164.5 52.6 16.7 35.2 Return on capital employed (%) 3.1 16.8 12.5 7.5 25.3 Productivity Data Average staff strength (numbers) 1,558 1,371 1,368 1,522 1,690 Revenue per employee ($) 456,173 472,028 419,849 418,877 497,728 Net profit per employee ($) 18,160 37,594 33,042 17,772 40,093 Employment costs* 151,232 146,975 121,504 138,343 152,957 Employment costs per $ of revenue ($) 0.21 0.23 0.21 0.22 0.18 Economic Value Added (2,901) 22,066 18,161 5,200 51,113 Economic Value Added spread (%) (1.4) 11.2 6.8 1.8 19.7 Economic Value Added per employee ($) (1,862) 16,095 13,276 3,417 30,244 Value added 205,324 247,160 210,717 208,752 264,414 Value added per employee ($) 131,787 180,277 154,033 137,156 156,458 Value added per $ of employment costs ($) 1.36 1.68 1.73 1.51 1.73 Value added per $ of gross property, plant and equipment ($) 0.34 0.43 0.28 0.28 0.37 Value added per $ of revenue ($) 0.29 0.38 0.37 0.33 0.31 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 – MARINE (CURRENCY – SINGAPORE DOLLARS) FINANCIAL HIGHLIGHTS 30 1 ANNUAL REPORT 202 0 / CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT