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© 2008 to 2011 SMRT Corporation Ltd.
Historical Financial Highlights
 
SUMMARISED INCOME STATEMENT
(S$million)  
FY2012
FY2011
FY2010
  
FY2009
  
FY2008
  
FY2007
FY2006
FY2005
FY2004
FY2003
  
FY20021
Revenue  
1,057.2
969.7
895.1
  
879.0
  
802.1
  
743.1
711.7
673.5
667.3
685.6
496.8
Total operating expenses  
930.6
794.3
741.0
  
716.9
  
645.0
  
625.6
597.7
607.1
596.8
609.5
418.5
 
Profits
EBITDA2  
300.0
314.9
320.9
  
299.0
  
284.1
  
255.0
247.2
230.0
225.5
243.7
196.6
Operating Profit  
148.7
195.6
197.2
  
188.7
  
178.0
  
145.3
138.8
92.8
99.3
96.0
92.3
Before Tax  
146.9
191.7
191.7
  
185.8
  
176.2
  
142.3
124.1
83.9
86.2
72.7
82.3
After Tax  
119.9
161.1
162.9
  
162.7
  
149.9
  
135.8
103.6
126.6
90.2
72.2
56.8
PATMI3  
119.9
161.1
162.9
  
162.7
  
149.9
  
135.4
103.4
126.7
89.5
72.1
56.8
 
SUMMARISED BALANCE SHEET
(S$million)  
FY2012
FY2011
FY2010
  
FY2009
  
FY2008
  
FY2007
FY2006
FY2005
FY2004
FY2003
  
FY20021
Current assets (excluding cash and fixed deposits)  
118.0
122.7
105.7
  
146.7
  
122.8
  
112.8
121.5
88.8
79.7
94.3
120.8
Cash and fixed deposits  
195.3
376.2
326.0
  
245.6
  
232.5
  
169.6
131.7
72.0
263.0
96.3
338.0
Non-current assets  
1,442.6
1,107.7
1,151.5
  
1,109.1
  
1,082.2
  
1,096.6
1,130.9
1,203.0
1,242.1
1,419.3
1,466.1
Non-current liabilities (excluding borrowings)  
210.3
216.7
245.4
  
263.1
  
280.6
  
311.4
343.2
344.9
395.3
436.4
475.8
Current liabilities (excluding borrowings)  
604.3
340.9
317.7
  
266.3
  
229.9
  
177.4
152.6
163.7
206.5
244.6
450.8
Short-term and long-term borrowings  
150.0
250.0
250.0
  
250.0
  
250.0
  
250.0
300.0
300.0
500.0
505.0
609.2
Shareholders’ funds  
791.4
799.1
770.0
  
722.1
  
677.1
  
640.2
586.0
553.1
480.7
427.2
387.8
 
OTHER KEY FINANCIALS
(S$million)  
FY2012
FY2011
FY2010
  
FY2009
  
FY2008
  
FY2007
FY2006
FY2005
FY2004
FY2003
  
FY20021
Capital expenditure  
496.1
100.8
114.8
  
190.4
  
118.3
  
107.9
89.9
138.6
33.4
154.9
57.9
Cash from operations  
321.9
336.4
338.5
  
319.3
  
286.9
  
296.7
247.5
223.8
234.6
207.5
155.3
Free cash flow  
47.8
176.5
122.2
  
24.8
  
51.5
  
110.3
60.0
1.5
157.1
100.6
48.0
EVA  
92.2
110.8
121.0
  
111.1
  
103.3
  
77.5
61.9
47.6
24.6
3.4
4.7
Dividends declared for the year  
113.3
129.1
129.0
  
117.4
  
117.4
  
106.0
84.6
78.1
53.3
36.0
32.2
 
PER SHARE
(cents)  
FY2012
FY2011
FY2010
  
FY2009
  
FY2008
  
FY2007
FY2006
FY2005
FY2004
FY2003
  
FY20021
Basic EPS  
7.9
10.6
10.7
  
10.7
  
9.9
  
9.0
6.9
8.4
6.0
4.8
3.8
Gross dividend  
7.45
8.5
8.5
  
7.8
  
7.75
  
7.25
7.0
6.5
4.5
3.1
2.8
Net dividend  
7.45
8.5
8.5
  
7.8
  
7.75
  
7.0
5.6
5.2
3.6
2.4
2.2
Net Asset Value4  
52.1
52.6
50.7
  
47.6
  
44.7
  
42.3
38.8
36.8
32.0
28.5
25.9
Net Tangible Assets5  
51.2
50.3
48.4
  
44.9
  
41.9
  
39.6
36.1
34.0
27.8
24.0
21.3
 
FINANCIAL RATIOS
   
FY2012
FY2011
FY2010
  
FY2009
  
FY2008
  
FY2007
FY2006
FY2005
FY2004
FY2003
  
FY20021
EBITDA margin (%)  
28.4
32.5
35.9
  
34.0
  
35.4
  
34.3
34.7
34.2
33.8
35.5
39.6
EBIT margin (%)  
14.1
20.2
22.0
  
21.5
  
22.2
  
19.5
19.5
13.8
14.9
14.0
18.6
Net profit margin (%)  
11.3
16.6
18.2
  
18.5
  
18.7
  
18.3
14.6
18.8
13.5
10.5
11.4
Return on total assets (%)  
7.1
10.1
10.6
  
11.1
  
10.6
  
9.8
7.5
8.6
5.6
4.1
3.4
Return on equity (%)6  
15.1
20.5
21.8
  
23.3
  
22.8
  
22.1
18.2
24.5
19.7
17.7
14.8
Net gearing7  
net cash
net cash
net cash
 
0.01
  
0.03
  
0.13
0.29
0.41
0.49
0.95
0.70
Interest Cover (times)  
48.6
44.2
40.6
  
40.5
  
35.4
  
25.7
25.6
16.5
14.3
12.0
31.3
 
EMPLOYEES
   
FY2012
FY2011
FY2010
  
FY2009
  
FY2008
  
FY2007
FY2006
FY2005
FY2004
FY2003
  
FY20021
Number (as at year end)  
6,907
6,565
6,651
  
6,228
  
5,555
  
5,457
5,715
5,775
5,975
6,194
6,102
Staff and related costs ($m)  
340.1
313.6
294.8
  
277.4
  
263.5
  
263.1
253.5
247.7
256.4
261.9
184.0
 
 
Notes:
1. SMRT acquired TIBS Holdings, a key taxi and bus operator, in FY2002.
2. EBITDA – Earnings before interest, tax, depreciation and amortisation excludes impairment of goodwill
3. PATMI - Profit after tax and minority interests
4. Net asset value per share excludes minority interests
5. Net tangible assets per share less intangible asset and excludes goodwill on consolidation
6. Return on equity = PATMI / average equity
7. Net gearing = (total borrowings – cash and cash equivalents) / total equity