Singapore Airlines 2003 Annual Report Download - page 112

Download and view the complete annual report

Please find page 112 of the 2003 Singapore Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 128

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128

110 SIA Annual Report 02/03
Five-Year Financial Summary of the Group
2002-03 2001-02 2000-01 1999-00 1998-99
PROFIT AND LOSS ACCOUNTS ($ million)
Total revenue 10,515.0 9,382.8 9,852.2 8,861.4 7,797.0
Total expenditure (9,797.9) (8,458.2) (8,584.1) (7,843.3) (7,009.6)
Operating profit R1 717.1 924.6 1,268.1 1,018.1 787.4
Finance charges (54.7) (44.0) (37.5) (28.8) (29.5)
Interest income 33.7 52.0 86.0 154.6 95.2
Surplus on disposal of aircraft, spares and
spare engines 144.9 66.0 181.3 98.4 211.3
Surplus/(loss) on disposal of other fixed assets 1.2 2.9 2.4 (0.8) 0.2
Dividend income from long-term investments,
gross 5.2 5.7 7.7 3.6 3.4
Surplus on disposal of long-term investment – 4.4 3.0 – –
Provision for diminution in value of long term
investments (9.4) (1.1) (20.5) (6.7) (2.3)
Share of profits of joint venture companies 14.5 20.5 27.0 21.0 13.9
Share of profits/(losses) of associated companies 123.8 (71.3) 81.7 33.2 23.1
Profit before tax and exceptional item 976.3 959.7 1,599.2 1,292.6 1,102.7
Liquidation of Asian Frequent Flyer Pte Ltd 0.5 ––––
Gain on sale of long term investments – 30.2 – 171.3 –
Provision for diminution in value of investment
in Air New Zealand Limited – (266.9) – – –
Recognition of deferred gain on divestment
of 51% equity interests in Eagle Services Asia
Private Limited – 202.6 – – –
Profit on disposal of vendor shares
(13% equity interests in SATS and SIAEC) – – 440.1 – –
Ex-gratia bonus payment – – (134.6) – –
Surplus on liquidation of Abacus
Distribution Systems ––––14.1
Profit before tax 976.8 925.6 1,904.7 1,463.9 1,116.8
Profit attributable to shareholders 1,064.8 631.7 1,624.8 1,163.8 1,033.2
BALANCE SHEET ($ million)
Share capital 609.1 609.1 1,220.2 1,250.5 1,282.5
Distributable reserves
General reserve 9,539.1 8,655.2 8,215.2 7,501.4 8,790.6
Foreign currency translation reserve 41.3 63.8 40.8 30.3 31.2
Non-distributable reserves
Share premium 447.2 447.2 447.2 447.2 447.2
Capital redemption reserve 64.4 64.4 62.3 32.0 –
Capital reserve 7.7 6.9 6.9 6.9 6.3
Shareholders’ funds 10,708.8 9,846.6 9,992.6 9,268.3 10,557.8
Minority interests 267.5 228.7 184.5 19.6 18.3
Deferred account 523.1 591.9 733.4 709.3 578.2
Deferred taxation 2,251.0 2,664.5 2,425.6 2,333.2 2,247.2
Fixed assets 15,406.0 14,442.9 12,863.0 11,882.0 11,666.8
Goodwill on consolidation 1.5 ––––
Associated companies 500.7 385.5 715.4 305.7 223.0
Joint venture companies 296.4 277.1 239.0 188.2 152.8
Long-term investments 569.6 590.4 556.0 537.8 943.7
Current assets 2,409.8 2,884.5 3,538.5 3,504.2 4,181.4
Total assets 19,184.0 18,580.4 17,911.9 16,417.9 17,167.7
Long-term liabilities 1,879.6 1,928.9 795.5 566.5 565.6
Current liabilities 3,554.0 3,319.8 3,780.3 3,521.0 3,200.6
Total liabilities 5,433.6 5,248.7 4,575.8 4,087.5 3,766.2
Net (debt)/liquid assets (718.8) (656.2) 1,417.8 1,647.1 2,493.0
Net debt equity ratio (times) 0.07 0.07 – – –