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Financial Highlights

 

Information updated based on latest annual report


For the Financial Year 2022 2021 2020 2019 2018
Gross Revenue (S$ million) 621.2 394.4 369.9 514.9 514.3
Gross Profit (S$ million) 282.8 173.3 149.6 252.6 239.4
Total Distribution (S$ million) 189.8 137.3 94.2 165.6 154.8
Distribution Per Stapled Security (DPS) (cents) 5.67 4.32 3.03 7.61 7.16
Distribution Yield1 (%) 5.40 4.19 2.81 5.72 6.63

Balance Sheet as at 31 December 2022 2021 2020 2019 2018
Total Assets (S$ million) 8,023.7 7,733.2 7,163.8 7,422.8 5,309.1
Stapled Securityholders' Funds (S$ million) 3,965.4 3,890.9 3,567.3 3,860.6 2,644.1
Total Borrowings (S$ million) 2,874.6 2,728.9 2,462.5 2,349.0 1,905.5

Financial Ratios as at 31 December 2022 2021 2020 2019 2018
Net Asset Value (NAV) per Stapled Security (S$) 1.15 1.19 1.15 1.25 1.22
Aggregate Leverage (%) 38.0 37.1 36.3 33.6 36.7
Interest Cover Ratio2 (times) 4.4 3.7 2.73 5.83 4.7
Adjusted Interest Cover Ratio4 (times) 3.6 2.8 2.0 3.9 3.3
Management Expense Ratio5 (%) 1.1 1.0 1.0 0.8 1.2
Financial Derivatives as a Percentage of NAV6 (%) 2.2 0.7 0.7 0.3 0.04

Other Information as at 31 December 2022 2021 2020 2019 2018
Market Capitalisation1 (S$ million) 3,617.9 3,374.8 3,356.7 4,100.5 2,337.8
Number of Stapled Securities in Issue (million) 3,445.6 3,276.5 3,108.0 3,083.1 2,164.6

  1. Based on the closing price on the last trading day of each respective year. 2022: S$1.05, 2021: S$1.03, 2020: S$1.08, 2019: S$1.33 and 2018: S$1.08.
  2. Refers to EBITDA (earnings before interest expense, income tax expense, depreciation and amortisation) before change in fair value of financial derivatives, change in fair value of investment properties, investment properties under development and assets held for sale, revaluation surplus/(deficit) on land and buildings, and foreign exchange differences over interest expense.
  3. Restated to exclude the interest expense on lease liabilities following the release of the circular dated 28 December 2021 from Monetary Authority of Singapore to exclude the interest expense on lease liabilities in the computation.
  4. Refers to EBITDA before change in fair value of financial derivatives, change in fair value of investment properties, investment properties under development and assets held for sale, revaluation surplus/(deficit) on land and buildings, and foreign exchange differences over interest expense and distributions on hybrid securities as defined in the Code on Collective Investment Schemes. Perpetual securities are the only hybrid securities that CLAS holds.
  5. Refers to expenses (excluding direct expenses, foreign exchange differences, net interest expense, change in fair value of financial derivatives, change in fair value of investment properties, investment properties under development and assets held for sale, revaluation surplus/(deficit) on land and buildings, assets written off and income tax expense) over net asset value.
  6. Financial derivatives refer to the cross currency interest rate swaps, currency forwards and interest rate swaps which CLAS has entered into.