Financial Summary

    2019 2018 2017
Restated(1)		 2016 2015
(A) INCOME STATEMENT
(S$ million)		          
  Revenue 6,234.8 5,602.4 4,618.2 5,252.3 4,761.9
  Earnings before interest and tax (EBIT) 5,067.6 4,145.0 3,302.2 2,359.5 2,316.0
  Profit attributable to shareholders (PATMI) 2,135.9 1,762.5 1,569.6 1,190.3 1,065.7
  Operating PATMI 1,057.2 872.2 927.2 865.3 823.6
             
(B) BALANCE SHEET
(S$ million)		          
  Investment properties 48,731.9 39,446.0 36,479.4 18,998.4 19,427.5
  Development properties for sale and stocks 7,725.1 5,128.6 3,977.0 4,837.1 6,936.3
  Associates and joint ventures 12,996.2 10,179.6 10,205.4 12,617.3 12,858.1
  Cash and cash equivalents 6,167.6 5,059.8 6,105.3 4,792.6 4,173.3
  Other assets 6,725.2 4,833.6 4,772.1 4,495.4 3,657.4
  Total assets 82,346.0 64,647.6 61,539.2 45,740.8 47,052.6
             
  Equity attributable to owners of the Company 23,359.5 18,952.7 18,412.9 17,604.8 17,905.3
  Total borrowings 31,411.1 23,633.9 21,694.9 14,852.4 16,058.5
  Non-controlling interests and other liabilities 27,575.4 22,061.0 21,431.4 13,283.6 13,088.8
  Total equities & liabilities 82,346.0 64,647.6 61,539.2 45,740.8 47,052.6
             
(C) FINANCIAL RATIOS          
  Earnings per share (cents) 46.4 42.1 37.0 28.0 25.0
  Net tangible assets per share (S$) 4.44 4.40 4.20 4.05 4.11
  Return on equity (%) 10.0 9.3 8.6 6.6 6.1
  Debt to equity ratio (net of cash) (times) 0.63 0.56 0.49 0.41 0.48
  Net debt/Total assets (net of cash) (times) 0.33 0.31 0.28 0.25 0.28
  Interest cover (times) 7.6 8.3 8.6 6.5 6.1
  Interest service (times) 4.3 4.4 6.7 10.3 6.7
             
  Dividend          
  Ordinary dividend per share (cents) 12.0 12.0 12.0 10.0 9.0
  Dividend cover (times) 3.9 3.5 3.1 2.8 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.