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Singapore Airlines Annual Report 2007-08
2
FINANCIAL STATISTICS R1
2006-07 2005-06 % Change
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Group
Financial Results ($ million)
Total revenue 14,494.4 13,341.1 + 8.6
Total expenditure 13,180.0 12,127.8 + 8.7
Operating profit 1,314.4 1,213.3 + 8.3
Profit before taxation 2,284.6 1,662.1 + 37.5
Profit attributable to equity holders of the Company 2,128.8 1,240.7 + 71.6
Share capital 1,494.9 1,202.6 + 24.3
Reserves
Capital reserve 44.9 40.8 + 10.0
Foreign currency translation reserve (59.5) (30.5) + 95.1
Share-based compensation reserve 97.3 81.8 + 18.9
Fair value reserve (45.5) 163.6 n.m.
General reserve 13,567.9 12,012.3 + 13.0
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Equity attributable to equity holders of the Company 15,100.0 13,470.6 + 12.1
Return on equity holders’ funds (%) R2 14.9 9.6 + 5.3 points
Total assets 25,992.0 23,369.5 + 11.2
Total debt 1,879.4 2,305.6 – 18.5
Total debt equity ratio (times) R3 0.12 0.17 – 0.05 times
Value added 6,510.1 5,534.0 + 17.6
Per Share Data
Earnings before tax (cents) 185.2 136.3 + 35.9
Earnings after tax (cents) – basic R4 172.6 101.7 + 69.7
Earnings after tax (cents) – diluted R5 170.8 101.3 + 68.6
Net asset value ($) R6 12.11 11.00 + 10.1
Dividends
Interim dividend (cents per share) 15.0 10.0 + 5.0 cents
Proposed final dividend (cents per share) 35.0 35.0 –
Proposed special dividend (cents per share) 50.0 – + 50.0 cents
Dividend cover (times) R7 1.7 2.3 – 0.6 times
Company
Financial Results ($ million)
Total revenue 11,343.9 10,302.8 + 10.1
Total expenditure 10,316.9 9,651.8 + 6.9
Operating profit 1,027.0 651.0 + 57.8
Profit before taxation 2,291.1 940.8 + 143.5
Profit after taxation 2,213.2 746.0 + 196.7
Value added 5,107.2 3,553.2 + 43.7
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 Return on equity holders’ funds is profit attributable to equity holders of the Company expressed as a percentage of the average equity holders’ funds.
R3 Total debt equity ratio is total debt divided by equity attributable to equity holders of the Company as at 31 March.
R4 Earnings after tax per share (basic) is computed by dividing profit attributable to equity holders of the Company by the weighted average number of ordinary
shares in issue.
R5 Earnings after tax per share (diluted) is computed by dividing profit attributable to equity holders of the Company by the weighted average number of ordinary
shares in issue, adjusted for the dilutive effect on the exercise of all outstanding share options.
R6 Net asset value per share is computed by dividing equity attributable to equity holders of the Company by the number of ordinary shares in issue at 31 March.
R7 Dividend cover is profit attributable to equity holders of the Company divided by total dividend.
FINANCIAL STATISTICS R1
2007-08 2006-07 % Change
Group
Financial Results ($ million)
Total revenue 15,972.5 14,494.4 + 10.2
Total expenditure 13,848.0 13,180.0 + 5.1
Operating profit 2,124.5 1,314.4 + 61.6
Profit before taxation 2,547.2 2,284.6 + 11.5
Profit attributable to equity holders of the Company 2,049.4 2,128.8 – 3.7
Financial Position ($ million)
Share capital 1,682.0 1,494.9 + 12.5
Treasury shares (33.2) - n.m.
Capital reserve 95.6 44.9 + 112.9
Foreign currency translation reserve (130.7) (59.5) + 119.7
Share-based compensation reserve 136.4 97.3 + 40.2
Fair value reserve 443.4 (45.5) n.m.
General reserve 12,931.7 13,567.9 – 4.7
Equity attributable to equity holders of the Company 15,125.2 15,100.0 + 0.2
Return on equity holders’ funds (%) R2 13.6 14.9 – 1.3 points
Total assets 26,515.2 25,992.0 + 2.0
Total debt 1,656.7 1,879.4 – 11.8
Total debt equity ratio (times) R3 0.11 0.12 – 0.01 times
Value added 7,082.1 6,510.1 + 8.8
Per Share Data
Earnings before tax (cents) 209.5 185.2 + 13.1
Earnings after tax (cents) – basic R4 168.5 172.6 – 2.4
Earnings after tax (cents) – diluted R5 166.1 170.8 – 2.8
Net asset value ($) R6 12.77 12.11 + 5.5
Dividends
Interim dividend (cents per share) 20.0 15.0 + 5.0 cents
Proposed final dividend (cents per share) 80.0 35.0 + 45.0 cents
Special dividend (cents per share) - 50.0 – 50.0 cents
Dividend cover (times) R7 1.7 1.7 –
Company
Financial Results ($ million)
Total revenue 12,759.6 11,343.9 + 12.5
Total expenditure 11,115.6 10,316.9 + 7.7
Operating profit 1,644.0 1,027.0 + 60.1
Profit before taxation 2,077.6 2,291.1 – 9.3
Profit after taxation 1,758.8 2,213.2 – 20.5
Value added 5,183.5 5,107.2 + 1.5
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 Return on equity holders’ funds is profit attributable to equity holders of the Company expressed as a percentage of the average equity holders’
funds.
R3 Total debt equity ratio is total debt divided by equity attributable to equity holders of the Company as at 31 March.
R4 Earnings after tax per share (basic) is computed by dividing profit attributable to equity holders of the Company by the weighted average
number of ordinary shares in issue excluding treasury shares.
R5 Earnings after tax per share (diluted) is computed by dividing profit attributable to equity holders of the Company by the weighted average
number of ordinary shares in issue excluding treasury shares, adjusted for the dilutive effect on the exercise of all outstanding share options.
R6 Net asset value per share is computed by dividing equity attributable to equity holders of the Company by the number of ordinary shares in
issue excluding treasury shares at 31 March.
R7 Dividend cover is profit attributable to equity holders of the Company divided by total dividend.
STATISTICAL HIGHLIGHTS