Positioning for the Future | 63
EBIT contribution from CapitaLand Singapore increased
by 7.1% to S$802.7 million in FY 2014 mainly due to
the promt from sale of Westgate Tower as well as higher
revaluation gains for CapitaGreen and investment
properties held through CapitaCommercial Trust.
The increase was partially offset by provision for
foreseeable losses for development projects.
Despite lower revenue, CapitaLand China registered
a 5.5% increase in EBIT to S$409.1 million in FY 2014
on account of higher share of operating results from
associates and joint ventures, lower impairment losses on
development projects as compared to FY 2013 as well as
reversal of costs accruals upon mnalisation of a project.
CapitaMalls Asia’s EBIT in FY 2014 was S$945.2 million
which was 11.9% higher than FY 2013’s EBIT of
S$844.9 million. The improvement was largely due to the
(%,7 E\ *HRJUDSKLFDO /RFDWLRQ
2014 EBIT by SBU
(%,7 E\ $VVHW &ODVV
2013 EBIT by SBU (Restated)
%
Singapore
52.7
China
(including Hong Kong) 30.8
Other Asia
(excluding Singapore
and China)
12.3
Europe and Others
4.2
%
CapitaLand Singapore 32.7
CapitaLand China
16.7
CapitaMalls Asia
38.5
The Ascott Limited
12.1
%
CapitaLand Singapore 32.5
CapitaLand China
16.8
CapitaMalls Asia
36.7
The Ascott Limited
14.0
%
Residential & Ofmce Strata 25.6
Commercial & Integrated
Developments
1
36.8
Malls
25.7
Serviced residence
11.6
Others
0.3
Includes Corporate and Others’ loss of S$17.5 million in
FY 2014 which was not renected in the charts.
Includes Corporate and Others’ loss of S$46.5 million in
FY 2013 which was not renected in the charts.
1
Excluding residential component.
promt recognition for the sale of Westgate Tower and higher
rental contribution from its shopping malls in Singapore
and China, partially offset by lower fair value gains and
divestment losses as compared to gains in FY 2013.
EBIT from Ascott was 8.0% lower in FY 2014 at
S$297.5 million as compared to S$323.4 million in
FY 2013. This was mainly attributable to lower revaluation
gains, partially mitigated by higher contribution from
newly acquired properties in China and Japan.
Corporate and Others’ loss at the EBIT level was lower
in FY 2014 due to higher revenue, receipt of a forfeiture
deposit arising from an abortive deal in 7ietnam and the
absence of a loss incurred on re-purchase of convertible
bonds in FY 2013, partially offset by higher impairment
charges, divestment loss as compared to a gain last year.
S$2.4b*
S$2.4b
S$2.4b
S$2.3b*
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