07
CapitaLand Limited
Annual Report 2015
Message to Shareholders
(Left) Lim Ming Yan, President & Group Chief Executive Officer, (Right) Ng Kee Choe, Chairman
In financial year 2015,
the Group grew revenue 21%
to S$4.8 billion and achieved
S$2.3 billion in earnings before
interest and tax. Profit after tax
and minority interests (PATMI)
for the year was S$1.1 billion,
of which S$823.6 million
1
or 77%
was contributed by operating
PATMI, reflecting the strength
of our underlying businesses.
Dear Shareholders,
On behalf of the Board and management, we would like to
thank you for your continued support in 2015.
The past year saw challenging conditions in Asia across
various asset classes. Economic growth in Singapore
and China softened and the depreciation of the Chinese
Renminbi (RMB) exacerbated volatility in the stock market.
In Singapore, the residential segment continued to be
weighed down by the cooling measures imposed by the
authorities; and new supply of commercial and retail spaces
also intensified competition among landlords to attract and
retain tenants.
Against this backdrop, CapitaLand’s resilient business
model and cross-segmental competencies have once
again enabled us to deliver a set of credible results. Under
ONE CapitaLand, our four business units of CapitaLand
Singapore, CapitaLand China, CapitaLand Mall Asia and
The Ascott Limited were able to leverage their respective
resources particularly in integrated developments and skill
sets to create future value as a group.
Delivering Steady Financial Performance
In financial year 2015, the Group grew revenue 21% to
S$4.8 billion and achieved S$2.3 billion in earnings before
interest and tax. Profit after tax and minority interests (PATMI)
for the year was S$1.1 billion, of which S$823.6 million
1
or
77% was contributed by operating PATMI, reflecting the
strength of our underlying businesses.
In line with CapitaLand’s policy to grow core dividend on a
sustainable basis, the Board is pleased to propose a final
ordinary dividend of 9 Singapore cents a share for financial
year 2015.
Benefitting from a Strong and Resilient Recurring
Income Model
As at 31 December 2015, the Group achieved an optimal
asset mix with approximately 74% of its assets in investment
properties (consisting of integrated developments, shopping
malls, serviced residences and offices) while the remaining
26% was in trading properties (consisting of residential and
overseas commercial strata units). The split represents the
Group’s current business model, which aims to enlarge the
Group’s recurring income stream from investment properties
while tracking potential development gain from trading assets.
Overview
Sustainability
Business
Review
Portfolio
Details
Corporate
Governance &
Transparency
1
Includes fair value gain of S$170.6 million arising from the change in use of three development projects in China, The Paragon Towers 5 & 6
(S$110.3 million), Raffles City Changning Tower 3 (S$15.6 million) and Ascott Heng Shan Shanghai (S$44.7 million) from construction for sale to
leasing as investment properties.
Financials &
Additional
Information
