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Financial Highlights

 

Information updated based on latest annual report


For the Financial Year 2020 2019 2018 2017 2016
Gross Revenue (S$ million) 369.9 514.9 514.3 496.3 475.6
Gross Profit (S$ million) 149.6 252.6 239.4 226.9 222.4
Income Available for Distribution to Stapled
Securityholders (S$ million)		 94.2 165.6 154.8 152.2 135.0
Distribution Per Stapled Security (DPS) (cents) 3.03 7.61 7.16 7.09 8.27
Distribution Yield1 (%) 2.81 5.72 6.63 5.81 7.32

Balance Sheet as at 31 December 2020 2019 2018 2017 2016
Total Assets (S$ million) 7,163.8 7,422.8 5,309.1 5,493.1 4,791.3
Stapled Securityholders' Funds (S$ million) 3,567.3 3,860.6 2,644.1 2,685.1 2,200.6
Total Borrowings (S$ million) 2,462.5 2,349.0 1,905.5 1,945.4 1,862.6

Financial Ratios as at 31 December 2020 2019 2018 2017 2016
Net Asset Value (NAV) per Stapled Security (S$) 1.15 1.25 1.22 1.25 1.33
Aggregate Leverage (%) 36.3 33.6 36.7 36.2 39.8
Interest Cover Ratio2 (times) 2.2 4.6 4.7 4.5 4.2
Management Expense Ratio3 (%) 1.0 0.8 1.2 1.2 1.3
Financial Derivatives as a Percentage of NAV4 (%) 0.7 0.3 0.04 0.3 0.5

Other Information as at 31 December 2020 2019 2018 2017 2016
Market Capitalisation1 (S$ million) 3,356.7 4,100.5 2,337.8 2,622.6 1,868.4
Number of Stapled Securities in Issue (million) 3,108.0 3,083.1 2,164.6 2,149.7 1,653.5

  1. Based on the closing price on the last trading day of each respective year. 2020: S$1.08, 2019: S$1.33, 2018: S$1.08, 2017: S$1.22 and 2016: S$1.13.
  2. Refers to EBITDA (earnings before net 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 deficit on freehold land and buildings, and foreign exchange differences over net interest expense.
  3. 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 deficit on freehold land and buildings, assets written off and income tax expense) over net asset value.
  4. Financial derivatives refer to the cross currency interest rate swaps, currency forwards and interest rate swaps which ART has entered into.