Singapore Airlines 2001 Annual Report Download - page 48

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46 SIA annual report 00/01
Financial Review
VALUE ADDED
The total value added of the Group increased by $629 million (+13.8% ) over 1999-00 to $5,181 million in 2000-01. This came from an
increase in revenue (+$933 million or 10.3% ), profit on IPOs of SATS and SIAEC ($440 million), higher surplus from disposal of aircraft,
spares and spare engines (+$83 million or 84.2% ), and a rise in the share of profits of joint venture and associated companies (+$54
million or 100.6% ), partially offset by higher costs of goods and services purchased (+$575 million or 12.0% ), an absence of profit
from sale of investments (-$171 million), and the ex-gratia bonus payment ($135 million).
Salaries and other staff costs accounted for $2,093 million (40.4% ) of the value added. $321 million (6.2% ) was distributed to
shareholders by way of dividends and $38 million (0.7% ) paid for interest on borrowings, while minority interests’ share rose to $38
million (0.7% ) [mainly as a result of the disposal of vendor shares representing 13% equity interests in SATS and SIAEC]. Another $317
million (6.1% ) was applied on corporate taxes. The remaining $2,374 million (45.9% ) was retained for future capital requirements.
The value added for every dollar of revenue earned in 2000-01 was $0.52, up $0.02 (+4.0% ) from 1999-00.
For every dollar of employment costs, $2.47 in value added was created, up $0.01 (+0.4% ) over 1999-00.
The value added per dollar investment in fixed assets was $0.04 higher (+16.7% ) at $0.28 in 2000-01.
The Group’s value added for the calendar year 2000 accounted for 3.1% of Singapore’s Gross Domestic Product, 0.1 percentage point
higher than last year’s contribution.
6,000
5,000
4,000
3,000
2,000
1,000
0
2.5
2.0
1.5
1.0
0.5
0
Value Added for the Group
Dollars
$ Million
1996/97 1997/98 1998/99 1999/00 2000/01
■■■■ Government ($Million)
■■■■ Suppliers of Capital ($Million)
■■■■ Employees ($Million)
■■■■ Retained in the Business ($Million)
Value Added per $ employment cost ($)
Value Added per $ revenue ($)
Value Added per $ investment in fixed assets ($)
1,400
1,200
1,000
800
600
400
200
0
1,400
1,200
1,000
800
600
400
200
0
Company Staff Productivity
$’000
Tkm (000)
1996/97 1997/98 1998/99 1999/00 2000/01
Ctk per employee (tkm)
Ltk per employee (tkm)
Revenue per employee ($)
Value Added per employee ($)
50,000
40,000
30,000
20,000
10,000
0
400
300
200
100
0
Group Staff Strength and Productivity
$’000
Numbers
1996/97 1997/98 1998/99 1999/00 2000/01
■■■■ Staff strength
Revenue per employee ($)
Value Added per employee ($)