ST Engineering Annual Report 2020

CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT 69 ANNUAL REPORT 2 0 20 / VALUE ADDED The Group’s total value added for FY2020 of $3,001m was 14% lower as compared to that of FY2019. Value Added Statement 2020 $m % 2019 $m % Value added from: Revenue earned 7,158.3 7,868.3 Bought in materials and services (4,180.5) (4,441.0) 2,977.8 3,427.3 Other income 5.1 17.8 Finance income 9.2 14.3 Finance costs (exclude interest expenses) (21.6) (4.2) Share of results of associates and joint ventures, net of tax 30.4 39.0 Total value added 3,000.9 3,494.2 Distribution of total value added To employees in wages, salaries and benefits 1,941.5 65 2,290.9 66 To government in taxes and levies 30.4 1 124.3 4 To providers of capital on: • Interest paid on borrowings 49.6 2 44.8 1 • Dividends to shareholders 468.0 15 468.2 13 2,489.5 2,928.2 Balance retained in business Depreciation and amortisation 378.6 368.3 Retained profits 103.4 135.8 Non-controlling interests 3.8 14.7 485.8 16 518.8 15 Non-production costs 25.6 1 47.2 1 Total distribution 3,000.9 100 3,494.2 100