Condensed Interim Financial Statements for the six months and full Year ended 31 December 2021
Samudera Shipping Line Ltd
Company Registration: 199308462C
(Incorporated in the Republic of Singapore)
Samudera Shipping Line Ltd
Company Registration: 199308462C
(Incorporated in the Republic of Singapore)
Table of Contents | ||
A. | Condensed Interim Consolidated Statement of Profit or Loss and Other Comprehensive Income | ....................... 1 |
B. | Condensed Interim Statements of Financial Position............................................................................................ | 3 |
C. | Condensed Interim Consolidated Statements of Cash Flows ............................................................................... | 5 |
D. | Condensed Interim Statements of Changes of Equity ......................................................................................... | 7 |
E. | Notes to the Condensed Interim Consolidated Financial Statements ................................................................... | 9 |
F. | Other Information required under Listing Manual ................................................................................................ | 19 |
Samudera Shipping Line Ltd
Company Registration: 199308462C
(Incorporated in the Republic of Singapore)
A. Condensed Interim Consolidated Statement of Profit or Loss and Other Comprehensive Income
Note | Group | Group | |||||
2H 2021 | 2H 2020 | + / (-) | FY 2021 | FY 2020 | + / (-) | ||
US$'000 | US$'000 | % | US$'000 | US$'000 | % | ||
Revenue | 317,908 | 173,065 | 83.7 | 526,966 | 347,895 | 51.5 | |
Cost of sales | (215,716) | (156,429) | 37.9 | (380,019) | (318,294) | 19.4 | |
Gross profit | 102,192 | 16,636 | 514.3 | 146,947 | 29,601 | 396.4 | |
Other operating income | (A) | 1,893 | 193 | 880.8 | 4,117 | 893 | 361.0 |
Marketing expenses | (3,877) | (3,708) | 4.6 | (8,734) | (7,641) | 14.3 | |
Administrative expenses | (3,460) | (2,830) | 22.3 | (7,391) | (5,226) | 41.4 | |
Other operating expenses | (B) | (4,143) | (10,654) | (61.1) | (4,174) | (10,657) | (60.8) |
Profit from operations | 92,605 | (363) | n.m | 130,765 | 6,970 | n.m | |
Finance income | 196 | 200 | (2.0) | 325 | 676 | (51.9) | |
Finance costs | (1,468) | (587) | 150.1 | (2,791) | (1,610) | 73.4 | |
Operating profit | 91,333 | (750) | n.m | 128,299 | 6,036 | n.m | |
Share of results of associate/ joint venture | 984 | 1,004 | (2.0) | 2,336 | 1,765 | 32.4 | |
Profit before tax | 92,317 | 254 | n.m | 130,635 | 7,801 | n.m | |
Income tax expense | (194) | (288) | (32.6) | (582) | (528) | (10.2) | |
Profit after tax | 92,123 | (34) | n.m | 130,053 | 7,273 | n.m | |
Attributable to: | |||||||
Owners of the Company | 91,849 | 74 | n.m | 128,578 | 7,230 | n.m | |
Non-controlling interests | 274 | (108) | (353.7) | 1,475 | 43 | n.m | |
Profit after tax | 92,123 | (34) | n.m | 130,053 | 7,273 | n.m | |
n.m. = not meaningful | |||||||
Notes to the Income Statement | |||||||
Group | Group | ||||||
2H 2021 | 2H 2020 | + / (-) | FY 2021 | FY 2021 | + / (-) | ||
US$'000 | US$'000 | % | US$'000 | US$'000 | % | ||
Profit after tax is arrived at after charging | |||||||
(crediting) the following: | |||||||
Depreciation of property, plant and | 2,924 | 3,952 | (26.0) | 6,293 | 8,046 | (21.8) | |
equipment | |||||||
Depreciation of right-of-use assets | 17,273 | 3,480 | 396.4 | 26,391 | 5,864 | 350.1 | |
Depreciation of investment properties | 19 | 19 | - | 36 | 38 | (5.3) | |
Amortisation of intangible assets | 359 | 165 | 117.6 | 589 | 242 | 143.4 | |
(Write back)/Allowance for impairment | (2,064) | 43 | n.m | (923) | 696 | (232.6) | |
on receivables | |||||||
Finance costs - interest on borrowings | 303 | 329 | (7.9) | 663 | 1,080 | (38.6) | |
Finance costs - interest on lease | 1,165 | 258 | 351.6 | 2,128 | 530 | 301.5 | |
liabilities |
Page 1 of 25
Samudera Shipping Line Ltd
Company Registration: 199308462C
(Incorporated in the Republic of Singapore)
Notes to the Income Statement (Continued) | ||||||
Group | Group | |||||
2H 2021 | 2H 2020 | + / (-) | FY 2021 | FY 2020 | + / (-) | |
US$'000 | US$'000 | % | US$'000 | US$'000 | % | |
(A) Other operating income | ||||||
Rental income | 128 | 165 | (22.4) | 309 | 347 | (11.0) |
Net foreign exchange gains | 792 | 12 | n.m | 999 | 497 | 101.0 |
Gain on disposal of plant, property and | - | 9 | (100.0) | 11 | 10 | 10.0 |
equipment, net | ||||||
Gain on disposal of assets held for sale | 971 | - | n.m | 971 | - | n.m |
(Vessel) | ||||||
Insurance claim | - | - | n.m | 334 | - | n.m |
Others | 2 | 7 | (71.4) | 1,493 | 39 | n.m |
1,893 | 193 | 880.8 | 4,117 | 893 | 361.0 | |
- | - | |||||
(B) Other operating expenses | ||||||
Impairment of property, plant and | (4,051) | (9,458) | (57.2) | (4,051) | (9,458) | (57.2) |
equipment | ||||||
Impairment of investment property | - | (149) | (100.0) | - | (149) | (100.0) |
Insurance claims deemed unrecoverable | - | (1,047) | (100.0) | - | (1,047) | (100.0) |
Others | (92) | - | n.m | (123) | (3) | n.m |
(4,143) | (10,654) | (61.1) | (4,174) | (10,657) | (60.8) | |
Other Comprehensive Income | ||||||
Group | Group | |||||
2H 2021 | 2H 2020 | FY 2021 | FY 2020 | |||
US$'000 | US$'000 | US$'000 | US$'000 | |||
Profit after tax for the period | 92,123 | (34) | 130,053 | 7,273 | ||
Items that will not be reclassified | ||||||
subsequently to profit or loss | ||||||
Remeasurement of defined benefit obligation | - | (11) | (5) | (6) | ||
- | (11) | (5) | (6) | |||
Items that may be reclassified subsequently | ||||||
to profit or loss | ||||||
Share of other comprehensive income of | 226 | 418 | 572 | 670 | ||
associate | ||||||
Net unrealised loss on revaluation of cash flow | 1 | (40) | 44 | (40) | ||
hedges | ||||||
Exchange differences on translation of foreign | (41) | 284 | (199) | 1 | ||
operations | ||||||
186 | 662 | 417 | 631 | |||
Other comprehensive income for the period, | ||||||
186 | 651 | 412 | 625 | |||
net of tax | ||||||
Total comprehensive income for the period | 92,309 | 617 | 130,465 | 7,898 | ||
Total comprehensive income attributable to: | ||||||
Owners of the Company | 92,369 | 662 | 129,366 | 7,842 | ||
Non-controlling interests | (60) | (45) | 1,099 | 56 | ||
92,309 | 617 | 130,465 | 7,898 | |||
Page 2 of 25
Samudera Shipping Line Ltd
Company Registration: 199308462C (Incorporated in the Republic of Singapore)
B. Condensed Interim Statements of Financial Position
ASSETS
Current assets
Cash and bank balances Trade receivables - third parties Prepaid operating expenses Other receivables and deposits
Due from immediate holding company (non-trade) Due from immediate holding company (trade) Due from subsidiaries (trade)
Due from subsidiaries (non-trade) Due from related companies (trade)
Due from non-controlling interest of subsidiary (trade) Inventories
Assets classified as held for sale
Non-current assets
Investment properties
Property, plant and equipment
Right-of-use assets
Intangible assets
Subsidiaries
Associate/joint venture
Deferred tax assets
Due from subsidiary (non-trade)
Total assets
Group | Company | ||
31 Dec 21 | 31 Dec 20 | 31 Dec 21 | 31 Dec 20 |
US$'000 | US$'000 | US$'000 | US$'000 |
187,193 | 80,827 | 146,911 | 58,443 |
113,487 | 53,810 | 105,744 | 48,264 |
19,774 | 9,040 | 14,846 | 5,660 |
1,837 | 2,069 | 152 | 781 |
261 | 261 | - | - |
4,067 | 3,981 | 4,039 | 3,972 |
- | - | 8,955 | 3,337 |
- | - | 980 | 990 |
17,347 | 10,375 | 13,808 | 5,652 |
417 | 229 | - | - |
1,497 | 1,650 | 1,246 | 1,419 |
345,880 | 162,242 | 296,681 | 128,518 |
- | 13,230 | - | 13,230 |
345,880 | 175,472 | 296,681 | 141,748 |
968 | 1,004 | 529 | 555 |
67,013 | 85,604 | 51,502 | 64,254 |
139,330 | 63,887 | 133,172 | 58,121 |
686 | 1,136 | 686 | 1,136 |
- | - | 37,062 | 34,389 |
17,537 | 15,677 | 12,117 | 12,117 |
66 | 63 | - | - |
- | - | 570 | 818 |
225,600 | 167,371 | 235,638 | 171,390 |
571,480 | 342,843 | 532,319 | 313,138 |
Page 3 of 25
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Samudera Shipping Line Ltd. published this content on 25 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 February 2022 09:01:03 UTC.