Singapore Airlines 2003 Annual Report Download - page 4

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FINANCIAL STATISTICS R1
2002-03 2001-02 % Change
Group ($ million)
Total revenue 10,515.0 9,382.8 + 12.1
Total expenditure 9,797.9 8,458.2 + 15.8
Operating profit R2 717.1 924.6 – 22.4
Profit before tax 976.8 925.6 + 5.5
Profit attributable to shareholders 1,064.8 631.7 + 68.6
Share capital 609.1 609.1 –
Distributable reserves
General reserve 9,539.1 8,655.2 + 10.2
Foreign currency translation reserve 41.3 63.8 – 35.3
Non-distributable reserves:
Share premium 447.2 447.2 –
Capital redemption reserve 64.4 64.4 –
Capital reserve 7.7 6.9 + 11.6
Shareholders’ funds 10,708.8 9,846.6 + 8.8
Return on shareholders’ funds (%) R3 10.4 6.4 + 4.0 points
Total assets 19,184.0 18,580.4 + 3.2
Net debt R4 718.8 656.2 + 9.5
Net debt equity ratio (times) R5 0.07 0.07 –
Value added 4,367.0 3,718.2 + 17.4
Per Share Data
Earnings before tax (cents) 80.2 76.0 + 5.5
Earnings after tax (cents) – basic & diluted R6 87.4 51.9 + 68.4
Net asset value ($) R7 8.79 8.08 + 8.8
Dividends
Interim dividend (cents per share) 6.0 3.0 + 3.0 cents
Proposed final dividend (cents per share) 9.0 12.0 R8 – 3.0 cents
Dividend cover (times) R9 6.4 4.1 + 2.3 times
Company ($ million) R10
Total revenue 8,047.0 7,694.7 + 4.6
Total expenditure 7,838.0 7,281.6 + 7.6
Operating profit R2 209.0 413.1 – 49.4
Profit before tax 460.1 740.7 – 37.9
Profit after tax 618.0 567.2 + 9.0
Value added 2,762.0 2,696.2 + 2.4
R1 Singapore Airlines’ financial year is from 1 April to 31 March. Throughout this report all figures are in Singapore Dollars, unless stated otherwise.
R2 Operating profit was restated to exclude items such as interest income, dividends from long-term investments and provision for diminution in value of long-
term investments. Such items are now shown after operating profit. The change is to better reflect the performance of operating activities. Figures for the
previous year were adjusted to allow year-on-year comparisons.
R3 Return on shareholders’ funds is the profit after taxation and minority interests expressed as a percentage of the average shareholders’ funds.
R4 Net debt is derived by offsetting liquid assets against loan liabilities, and conversely for net liquid assets.
R5 Net debt equity ratio is net debt divided by shareholders’ funds at 31 March.
R6 Earnings per share is computed by dividing the profit after taxation and minority interests by the weighted average number of fully paid shares in issue.
R7 Net asset value is computed by dividing shareholders’ funds by the number of fully paid shares in issue at 31 March.
R8 Includes 4.0 cents per share tax-exempt dividend.
R9 Dividend cover is profit attributable to shareholders divided by net dividends.
R10 The corporatization of Singapore Airlines Cargo took effect from 1 July 2001. The Company’s revenue for financial year 2001-02 includes cargo revenue for
the first three months of April to June 2001, and bellyhold revenue from Singapore Airlines Cargo (revenue received from leasing out space in the cargo
holds of the parent company's passenger fleet) for the period July 2001 to March 2002.
2SIA Annual Report 02/03
Statistical Highlights