Financial Summary

    1H 2020 2019 2018 2017
Restated(1)		 2016
(A) INCOME STATEMENT
(S$ million)		          
  Revenue 2,027.4 6,234.8 5,602.4 4,618.2 5,252.3
  Earnings before interest and tax (EBIT) 596.8 5,067.6 4,145.0 3,302.2 2,359.5
  Profit attributable to shareholders (PATMI) 96.6 2,135.9 1,762.5 1,569.6 1,190.3
  Operating PATMI 261.2 1,057.2 872.2 927.2 865.3
             
(B) BALANCE SHEET
(S$ million)		          
  Investment properties 49,474.3 48,731.9 39,446.0 36,479.4 18,998.4
  Development properties for sale and stocks 8,140.8 7,725.1 5,128.6 3,977.0 4,837.1
  Associates and joint ventures 13,280.1 12,996.2 10,179.6 10,205.4 12,617.3
  Cash and cash equivalents 7,067.8 6,167.6 5,059.8 6,105.3 4,792.6
  Other assets 6,935.5 6,725.2 4,833.6 4,772.1 4,495.4
  Total assets 84,898.5 82,346.0 64,647.6 61,539.2 45,740.8
             
  Equity attributable to owners of the Company 23,904.4 23,359.5 18,952.7 18,412.9 17,604.8
  Total borrowings 33,209.6 31,411.1 23,633.9 21,694.9 14,852.4
  Non-controlling interests and other liabilities 27,784.5 27,575.4 22,061.0 21,431.4 13,283.6
  Total equities & liabilities 84,898.5 82,346.0 64,647.6 61,539.2 45,740.8
             
(C) FINANCIAL RATIOS          
  Earnings per share (cents) 1.9 46.4 42.1 37.0 28.0
  Net tangible assets per share (S$) 4.53 4.44 4.40 4.20 4.05
  Return on equity (%) NM(2) 10.0 9.3 8.6 6.6
  Debt to equity ratio (net of cash) (times) 0.64 0.63 0.56 0.49 0.41
  Net debt/Total assets (net of cash) (times) 0.37 0.33 0.31 0.28 0.25
  Interest cover (times) 4.9(3) 7.6 8.3 8.6 6.5
  Interest service (times) 3.2(3) 4.3 4.4 6.7 10.3
             
  Dividend          
  Ordinary dividend per share (cents) NM(2) 12.0 12.0 12.0 10.0
  Dividend cover (times) NM(2) 3.9 3.5 3.1 2.8

Note:

  1. Comparatives for 2017 have been restated to take into account the retrospective adjustments relating to SFRS(I) 15 Revenue for Contracts with Customers.
  2. NM - Not Meaningful. We do not disclose on a half-yearly basis.
  3. On a run rate basis