Singapore Airlines 2014 Annual Report Download - page 76
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074
SINGAPORE AIRLINES
Performance of the Group (continued)
Financial Position
As at 31 March 2014, equity attributable to owners of the Parent increased by $148 million or 1.1 per cent to $13,237 million
due mainly to profit for the financial year (+$359 million) and realisation of reserves from disposal of Virgin Atlantic Limited
(+$117 million), partially offset by the payment of final dividend of 2012/13 (-$200 million) and payment of 2013/14 interim
dividend (-$118 million).
Total Group assets increased by $215 million or 1.0 per cent to $22,643 million as at 31 March 2014 mainly due to higher
long-term investments (+$418 million) and investment in associated companies (+$175 million), partially offset by a decrease
in cash and bank balances (-$176 million) and other receivables (-$122 million). The increase in long-term investments and
investment in associated companies was driven by purchase of additional shares and participation in the fund raising exercises
for Virgin Australia Holdings Limited and Tiger Airways Holding Limited respectively. These were largely funded by cashflow
from operations and other cash resources. Net asset value per share was up 1.1 per cent to $11.26.
The Group’s net liquid assetsR1 decreased by $189 million to $4,206 million as at 31 March 2014, largely due to lower cash
and bank balances (-$176 million). The lower cash and bank balances was primarily due to capital expenditure, purchase of
long-term investments, dividend payments and investment in associated companies, partially offset by proceeds from disposal
of fixed assets and Virgin Atlantic Limited, and operational cash flows. Total debt to equity ratio decreased by 0.01 times to
0.07 times as at 31 March 2014.
R1 Net liquid assets is defined as the sum of cash and bank balances, investments, and net of finance lease commitments, loans and bonds issued.
Group Net Liquid Assets
$ Million
6,000
4,000
5,000
3,000
2,000
1,000
0
$ Million
1,000
2,000
3,000
4,000
5,000
6,000
0
2010 2011 2012 2013
FINANCIAL REVIEW
GroupEquityHolders’Funds,TotalAssets
and Net Asset Value (NAV) per Share
$ Million
30,000
20,000
25,000
15,000
10,000
5,000
0
Dollars
2
4
6
8
10
12
14
0
2010 2011 2012 2013 2014
2014