SembCorp Industries Annual Report 2005                                      l Home l Request Form l Corporate Information l Corporate Directory l SembCorp Homepage l
LEADERSHIP
Chairman’s Statement
CEO's Review
Board of Directors
Key Executives
DELIVERY
Performance at a Glance
Group Financial Review
Organisational Overview
Significant Events in 2005
VALUE
Operating and Financial
Review:
Utilities
Marine Engineering
Logistics
Environmental Engineering
Engineering & Construction
SUSTAINABILITY
Corporate Governance
Corporate Social Responsibility
Enterprise Risk Management
Financial Management
Technology & Innovation
Investor Relations
Human Resources
PERFORMANCE
Statutory Accounts
Supplementary Information
EVA Statement
Five-Year Performance
Quarterly Performance
Shareholders’ Information


Five-Year Performance

Financials 2001 2002 2003 2004 2005
For the year (S$’m)
Turnover 3,225 4,185 4,642 5,944 7,409
EBITDA 484 497 583 1,112 668
Profit before income tax expense 340 291 471 982 508
Profit attributable to Shareholders of the Company (PATMI):
– before exceptional items 149 161 184 228 278
– after exceptional items 174 172 285 391 303
 
At year end (S$’m)
Property, plant and equipment 2,257 2,164 2,514 2,492 2,627
Other non-current assets 1,406 1,421 1,414 1,220 1,171
Net current assets/(liabilities) (399) 79 51 245 305
Non-current liabilities (1,574) (1,525) (1,595) (1,156) (1,258)
Net assets 1,690 2,139 2,384 2,801 2,845
 
Share capital and reserves 1,026 1,504 1,716 1,958 2,000
Minority interests 664 635 668 843 845
Total Equity 1,690 2,139 2,384 2,801 2,845
 
Per share
Earnings (cents)          
– before exceptional items 9.30 8.96 10.09 12.49 15.74
– after exceptional items 10.83 9.52 15.66 21.47 17.14
Net tangible assets (cents) 59.00 80.71 88.16 98.69 105.74
Gross dividend (cents) 3.00 4.50 7.00 11.25 6.50
Gross dividend yield (%)* 1.90 5.70 5.60 6.90 2.40
 
Financial ratios          
Return on equity (%) 18.5 13.6 17.7 21.1 15.3
Return on total assets (%) 5.8 5.4 7.3 13.5 6.1
Interest cover (times) 5.4 5.3 7.4 15.0 12.0
Net gearing (times) 1.3 0.6 0.6 Net Cash Net Cash
 
* Based on the closing share price for respective years.












Economic Value Added 2001 2002 2003 2004 2005
  S$’m S$’m S$’m S$’m S$’m
Net Operating Profit after Tax (NOPAT) 331 333 383 645 545
 
Average Capital Employed 4,596 5,176 5,195 5,472 5,276
Capital Charge 387 423 292 340 294
 
Economic Value Added (EVA) (56) (90) 91 306 251
 
Productivity Data          
  2001 2002 2003 2004 2005
Average staff strength 15,000 13,168 12,430 13,301 14,862
Employment costs ($’m) 538 579 540 573 621
Sales per employee ($’000) 215 318 373 447 491
Profit after tax per employee ($’000) 16 18 31 69 28
           
Economic value added ($’m) (56) (90) 91 306 251
Economic value added spread (%) (1.2) (1.7) 1.8 5.6 4.8
Economic value added per employee($’000) (3.74) (6.84) 7.32 22.98 16.89
           
Value added ($’m) 925 890 945 1,022 1,167
Value added per employee ($’000) 62 68 76 77 79
Value added per employment costs ($) 1.72 1.54 1.75 1.79 1.88
Value added per dollar investment in fixed assets ($) 0.32 0.32 0.27 0.29 0.30
Value added per dollar sales ($) 0.29 0.22 0.21 0.17 0.16












Review By Businesses 2001 % 2002 % 2003 % 2004 % 2005 %
  S$’m   S$’m   S$’m   S$’m   S$’m  
                     
Turnover by Activity                    
Utilities 548 17 1,072 26 1,933 42 2,909 49 3,262 44
Marine Engineering 850 26 1,007 24 1,062 23 1,351 23 2,102 28
Logistics 469 15 429 10 465 10 500 8 542 7
Environmental Engineering 140 4 135 3 190 4 200 3 217 3
Engineering & Construction 619 19 858 21 803 17 823 14 1,096 15
Others/Corporate 599 19 684 16 189 4 161 3 190 3
Total 3,225 100 4,185 100 4,642 100 5,944 100 7,409 100
                     
Profit attributable to Shareholders of the Company by Activity
Utilities 35 20 54 31 98 35 108 28 147 49
Marine Engineering 50 29 53 31 49 17 60 15 73 24
Logistics 36 21 41 24 56 20 64 16 33 11
Environmental Engineering 8 5 9 5 13 4 14 4 5 2
Engineering & Construction 6 3 1 1 1 0 1 0 1 0
Others/Corporate 14 8 3 2 (33) (11) (19) (5) 19 6
  149 86 161 94 184 65 228 58 278 92
Exceptional items 25 14 11 6 101 35 163 42 25 8
Total 25 14 11 6 101 35 163 42 25 8



Value Added Statements 2001 2002 2003 2004 2005
  S$’m S$’m S$’m S$’m S$’m
Value added from          
Turnover 3,170 3,997 4,565 5,867 7,304
Less: bought in materials and services (2,245) (3,107) (3,620) (4,845) (6,137)
Gross value added 925 890 945 1,022 1,167
 
Investment, interest and other income 188 311 266 1,264 240
Share of associated companies’ profit 72 26 108 121 53
Share of joint ventures’ profit 23 37 37 35 48
Other non-operating income/(expenses) (19) (59) (41) (554) (74)
  1,189 1,205 1,315 1,888 1,434
           
Distribution          
To employees in wages, salaries and benefits 538 579 540 573 621
To government in income and other taxes 100 66 103 110 137
To providers of capital on:          
Interest paid on borrowings 74 76 72 73 54
Dividends to shareholders 30 43 28 91 73
  742 764 743 847 885
           
Retained in Business          
Depreciation and amortisation 135 168 164 170 174
Retained profits 219 153 270 302 235
Minority interests 83 88 97 526 112
  437 409 531 998 521
           
Other non-operating expenses 10 32 41 43 28
  447 441 572 1,041 549
           
Total Distribution 1,189 1,205 1,315 1,888 1,434
           
The figures above reflect core businesses only.          





































































































































































































































































































































































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