ST Engineering Annual Report 2020

FINANCIAL REVIEW / ST ENG I NEER I NG 70 5-Year Key Financial Data 2020 2019 2018 2017 2016 Income statement ($m) Revenue 7,158 7,868 6,698 6,521 6,684 Profit Profit from operations* 560.9 673.1 597.4 563.9 507.1 PBT 534.4 695.2 620.7 611.8 590.6 Net Profit 521.8 577.9 494.2 502.6 484.5 Balance Sheet ($m) Property, plant and equipment, and right-of-use assets 2,296 2,289 1,743 1,719 1,670 Intangible and other assets 2,686 2,622 1,753 1,707 1,595 Inventories 1,269 1,312 1,184 1,082 1,898 Trade receivables, contract assets, and advances and other receivables 2,579 2,845 2,477 2,166 1,797 Bank balances and other liquid funds and funds under management 731 453 416 1,350 1,405 Current liabilities 3,896 5,446 3,851 3,587 3,801 Non-current liabilities 3,091 1,584 1,187 1,941 2,120 Share capital 896 896 896 896 896 Treasury shares (24) (27) (9) (23) (44) Capital and other reserves 18 (37) 46 52 57 Retained earnings 1,402 1,390 1,313 1,290 1,274 Non-controlling interests 282 269 288 281 262 Financial Indicators Earnings per share (cents) 16.74 18.53 15.85 16.13 15.60 Net assets value per share (cents) 73.59 71.32 72.00 71.09 70.20 Return on sales (%) 7.3 7.5 7.7 8.1 7.4 Return on equity (%) 22.8 26.0 22.0 22.7 22.2 Return on capital employed (%) 9.6 12.3 13.6 12.7 12.0 Dividend Dividend per share (cents) 15.0 15.0 15.0 15.0 15.0 Dividend yield (%) 3.9 4.0 4.4 4.6 4.8 Dividend cover 1.1 1.2 1.1 1.1 1.0 Productivity Data Average staff strength (numbers) 23,103 22,494 21,418 21,541 21,974 Revenue per employee ($) 309,842 349,794 312,724 302,728 304,166 Net profit per employee ($) 22,588 25,693 23,076 23,334 22,049 Employment costs ($m)* 1,948.1 2,291.7 1,999.1 1,944.6 1,927.6 Employment costs per $ of revenue ($) 0.27 0.29 0.30 0.30 0.29 Economic Value Added ($m) 286.4 317.0 306.0 303.8 252.4 Economic Value Added spread (%) 4.9 6.5 7.6 6.9 5.5 Economic Value Added per employee ($) 12,398 14,094 14,285 14,103 11,488 Value added per employee ($) 129,893 155,338 137,092 132,512 132,131 Value added per $ of employment costs ($) 1.54 1.52 1.47 1.47 1.51 Value added per $ of gross property, plant and equipment ($) 0.73 0.87 0.76 0.76 0.81 Value added per $ of revenue ($) 0.42 0.44 0.44 0.44 0.43 Figures in FY2016 were prepared in accordance with the previous Financial Reporting Standards and were not restated on adoption of SFRS(I) 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.