12
ANNUAL REPORT 2015/2016
1 The financial information in these columns excluded the impacts of S$12.9 million impairments of goodwill, ROVs and fixed assets
and S$6.8 million impairment of goodwill to 2016’s and 2015’s profit or loss respectively.
2 Net debt is defined as gross debt less cash and bank balances.
3 Net tangible assets is defined as shareholders’ funds less intangible assets.
4 Return on shareholders’ funds is defined as profit attributable to owners of the Company divided by shareholders’ funds.
5 Net interest expense refers to interest expense less interest income.
6 Net debt gearing is defined as the ratio of net debt to net capitalisation. Net capitalisation is the aggregate of net debt and total
equity.
7 Basic (losses) / earnings per share is defined as (loss) / profit attributable to owners of the Company divided by weighted average
number of issued shares.
8 Net tangible assets per share is defined as net tangible assets divided by total number of issued shares excluding treasury shares.
9 Net asset value is defined as shareholders’ funds divided by total number of issued shares excluding treasury shares.
10 Headline dividend for 2012 to 2015 was 4.00 Singapore cents per share.The figures for 2012 to 2014 have been adjusted retrospectively
for the effect of bonus shares, which are entitled to the final dividends, issued in 2013 and 2014.
11 Dividend payout ratio is defined as dividend per share paid/payable in respect of the financial year divided by the basic earnings per
share.
FIVE-YEARS FINANCIAL
PROFILE
2016 2016
1
2015 2015
1
2014 2013 2012
For the year (in S$’000)
Revenue
221,788 221,788 295,640 295,640 313,330 208,746 128,395
EBITDA
(7,452)
5,523 24,259 31,087 43,297 30,603 21,068
(Loss) / Profit before tax
(22,772)
(9,797)
9,177 16,005 29,911 20,642 13,898
(Loss) / Profit after tax
(19,381)
(6,764)
5,474 12,302 24,650 16,639 14,607
(Loss) / Profit attributable to owners
of the Company
(18,467)
(6,719)
5,021 11,849 23,878 15,397 14,607
At year end (in S$’000)
Net current assets
66,444 66,444 82,389 82,389 83,631 85,888 26,865
Total assets
198,092 198,092 256,405 256,405 271,309 257,042 164,018
Total liabilities
84,718 84,718 118,055 118,055 130,997 136,283 77,886
Net debt
2
19,120 19,120 16,297 16,297 28,445 32,664 18,611
Shareholders' funds
105,664 105,664 128,960 128,960 130,657 110,356 86,692
Net tangible assets
3
90,028 90,028 106,920 106,920 99,119 90,927 74,274
Financial Ratios
(Loss) / Profit before tax margin (%)
(10.27)
(4.42)
3.10
5.41
9.55
9.89 10.82
Return on shareholders’ funds (%)
4
(17.48)
(6.36)
3.89
9.19 18.28 13.95 16.85
Interest cover
(EBITDA / net interest expense)
5
(3.99)
times
2.96
times
10.89
times
13.95
times
16.45
times
20.44
times
22.01
times
Net debt gearing ratio (%)
6
14.43 14.43 10.54 10.54 16.83 21.29
17.77
Per share data
Basic (Losses) / Earnings
(in Singapore cents)
7
(11.97)
(4.35)
3.27
7.73 15.80 10.98 10.87
Net tangible assets
(in Singapore cents)
8
58.32 58.32 69.19 69.19 65.03 60.52 54.85
Net asset value (in Singapore cents)
9
68.45
68.45
83.46 83.46 85.73 73.45 64.02
Dividend (in Singapore cents)
10
-
-
4.00
4.00
3.67
3.00
2.67
Dividend payout ratio (%)
11
-
-
122.32 51.75 23.23
27.32 24.56
