Jardine Matheson : 2020 Preliminary Financial Statements

JARDINE MATHESON HOLDINGS LIMITED PRELIMINARY FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2020

Consolidated Profit and Loss Account

for the year ended 31st December 2020

Note

Revenue 3

Net operating costs 4 Change in fair value of investment properties

Operating profit/(loss)

Net financing charges 5 - financing charges - financing income

Share of results of associates and

joint ventures 6

• - before change in fair value of investment properties

• - change in fair value of investment properties

Profit/(loss) before tax

Tax 7

Profit/(loss) after tax

Attributable to: Shareholders of theCompany Non-controlling interests

2020

Underlying business performance

2019

Non-trading itemsTotal

US$m

Underlying business performance

Non-trading itemsTotal

US$m

US$m

32,647 (30,310)

_

32,647

458 (29,852)

- 2,337

(3,477) (3,477)

(3,019)

(682)

(637) 242 (395)

US$m

US$m

US$m

40,922 (36,931)

- 1,576

40,922 (35,355)

-

(832)

(832)

3,991

744

4,735

- - -

(637) 242 (395)

844

(787) 253 (534)

- - -

(787) 253 (534)

(268)

576

- 844

1,221

20

1,241

(177) (445)

(177) 399

2,786 (483)

(3,464) (678)

(3) (486)

2,303

- 1,221

(11)

9

(11) 1,230

4,678 (941)

753 (16)

5,431 (957)

(3,467)

(1,164)

8 & 9

1,085 1,218 2,303

(1,479) (394)

(1,988) (770)

3,737

737

4,474

1,589 2,148

1,249 2,838

(512) 1,636

(3,467)

(1,164)

3,737

737

4,474

Earnings/(loss)

per share - basic - diluted

US$

US$

8

2.95 (1.07)

2.95 (1.07)

US$

US$

4.23 7.56

4.23 7.56

Consolidated Statement of Comprehensive Income

for the year ended 31st December 2020

2020	2019
Note	US$m	US$m
(Loss)/profit for the year	(1,164)	4,474
Other comprehensive income/(expense)
Items that will not be reclassified to profit or loss:
Remeasurements of defined benefit plans	19	6	6
Net revaluation surplus before transfer to investment properties
- right-of-use assets	12	-	2,943
Tax on items that will not be reclassified	(1)	2
5	2,951
Share of other comprehensive income/(expense) of associates and joint ventures	1	(5)
6	2,946
Items that may be reclassified subsequently to profit or loss:
Net exchange translation differences
- net gain arising during the year	712	489
- transfer to profit and loss	(227)	58
485	547
Revaluation of other investments at fair value through other
comprehensive income
- net gain arising during the year	16	19	20
- transfer to profit and loss	(4)	(1)
15	19
Cash flow hedges
- net loss arising during the year	(70)	(92)
- transfer to profit and loss	5	(5)
(65)	(97)
Tax relating to items that may be reclassified	12	29
Share of other comprehensive income of associates and joint ventures	268	282
715	780
Other comprehensive income for the year, net of tax	721	3,726
Total comprehensive (expense)/income for the year	(443)	8,200
Attributable to:
Shareholders of the Company	74	5,201
Non-controlling interests	(517)	2,999
(443)	8,200

Consolidated Balance Sheet

at 31st December 2020

At 31st December

2020	2019
Note	US$m	US$m
Assets
Intangible assets	10	2,695	2,849
Tangible assets	11	6,862	7,379
Right-of-use assets	12	4,768	5,129
Investment properties	13	34,273	37,377
Bearer plants	14	497	503
Associates and joint ventures	15	16,545	15,640
Other investments	16	2,940	2,720
Non-current debtors	17	3,032	3,045
Deferred tax assets	18	485	457
Pension assets	19	11	3
Non-current assets	72,108	75,102
Properties for sale	20	2,339	2,441
Stocks and work in progress	21	2,849	3,824
Current debtors	17	6,753	8,196
Current investments	16	61	29
Current tax assets	158	253
Bank balances and other liquid funds	22
- non-financial services companies	8,801	6,927
- financial services companies	402	256
9,203	7,183
21,363	21,926
Asset classified as held for sale	55	-
Current assets	21,418	21,926
Total assets	93,526	97,028
Approved by the Board of Directors
John Witt
Graham Baker
Directors
11th March 2021
Jardine Matheson 4