SBS TRANSIT LTD ANNUAL

Financial Statements

A CONDENSED INTERIM GROUP INCOME STATEMENT Group 1st Half 1st Half Incr/ Note 2023 2022 (Decr) $'000 $'000 % Revenue 744,382 732,396 1.6 Staff costs 375,392 372,357 0.8 Repairs and maintenance costs 87,554 88,836 (1.4) Fuel and electricity costs 132,877 120,452 10.3 Premises costs 21,690 21,768 (0.4) Depreciation expense 47,192 47,623 (0.9) Other operating costs 43,583 38,353 13.6 Total operating costs 708,288 689,389 2.7 Operating profit 5 36,094 43,007 (16.1) Interest income 6,295 552 NM Finance costs (650) (775) (16.1) Profit before taxation 41,739 42,784 (2.4) Tax expense 6 (6,951) (8,143) (14.6) Profit attributable to shareholders 34,788 34,641 0.4 Please refer to paragraph G2 for a detailed explanation of the Group's financial performance. NM – Not meaningful Page 1 of 19 B CONDENSED INTERIM GROUP COMPREHENSIVE INCOME STATEMENT Group 1st Half 1st Half 2023 2022 $'000 $'000 Profit attributable to shareholders 34,788 34,641 Items that may be reclassified subsequently to profit or loss Fair value adjustment on cash flow hedges 96 309 Total comprehensive income attributable to shareholders 34,884 34,950 Earnings per ordinary share - Basic and Diluted Group 1st Half 1st Half 2023 2022 Based on weighted average number of ordinary shares in issue (cents) 11.15 11.11 Page 2 of 19 C CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION Group Company 30 Jun 31 Dec 30 Jun 31 Dec Note 2023 2022 2023 2022 $'000 $'000 $'000 $'000 (Restated) (Restated) ASSETS Current assets Short-term deposits and bank balances 374,161 345,304 369,515 342,498 Trade and other receivables 10 265,009 261,132 186,601 184,930 Inventories 113,421 102,649 21,219 16,290 Total current assets 752,591 709,085 577,335 543,718 Non-current assets Subsidiaries - - 100,002 100,002 Prepayments 776 492 42 248 Due from subsidiaries - - 326,283 350,565 Net investment on sublease 73 - 73 - Vehicles, premises and equipment 11 434,792 480,867 392,353 435,048 Deferred tax assets 20,729 20,750 - - Total non-current assets 456,370 502,109 818,753 885,863 Total assets 1,208,961 1,211,194 1,396,088 1,429,581 LIABILITIES AND EQUITY Current liabilities Lease liabilities 12 11,290 11,116 11,290 11,116 Trade and other payables 13 309,285 333,800 208,519 236,807 Deposits received 3,272 4,655 1,199 2,593 Deferred grants 26,080 - - - Provisions 14,708 16,465 11,221 13,213 Fuel price equalisation account 20,102 19,992 1