SBS TRANSIT LTD ANNUAL

Financial Statements

SBS TRANSIT LTD Company Registration No.: 199206653M Full Year 2020 Financial Statements and Dividend Announcement The Board of Directors announces the audited results for the year ended 31 December 2020. 1 GROUP INCOME STATEMENT (i) Group Full Year Full Year Incr/ 2020 2019 (Decr) $'000 $'000 % Revenue 1 ,230,947 1 ,445,221 ( 14.8) Staff costs 5 83,342 7 13,354 ( 18.2) Repairs and maintenance costs 2 14,620 1 92,741 1 1.4 Fuel and electricity costs 9 0,077 1 82,008 ( 50.5) Premises costs 4 7,173 4 8,078 ( 1.9) Depreciation expense 1 09,046 1 04,070 4 .8 Other operating costs 1 06,706 1 01,484 5 .1 Total operating costs 1 ,150,964 1 ,341,735 ( 14.2) Operating profit 7 9,983 1 03,486 ( 22.7) Net income from investments 2 72 1 37 9 8.5 Finance costs ( 3,247) ( 4,249) ( 23.6) Profit before taxation 7 7,008 9 9,374 ( 22.5) Tax credit (expense) 1 ,949 ( 18,086) NM Profit attributable to shareholders 7 8,957 8 1,288 ( 2.9) Operating (Loss) Profit before COVID-19 Government reliefs (29,806) 103,486 NM COVID-19 Government reliefs 109,789 - NM Operating Profit after COVID-19 Government reliefs 79,983 103,486 (22.7) Please refer to paragraph 13 for a detailed explanation of the Group's financial performance. (ii) Included in the determination of net profit are the following items : Group Full Year Full Year Incr/ 2020 2019 (Decr) $'000 $'000 % After debiting :- Allowance for inventory obsolescence 2 0,159 1 ,887 NM Allowance for expected credit losses 3 95 - NM NM – Not meaningful Certain comparative figures have been reclassified to conform to current year's presentation. Page 1 of 18 2 STATEMENTS OF FINANCIAL POSITION Group Company 31 Dec 31 Dec 31 Dec 31 Dec 2020 2019 2020 2019 $'000 $'000 $'000 $'000 ASSETS Current assets Short-term deposits and bank balances 8 5,560 3 1,463 8 4,376 3 0,280 Trade receivables 1 52,393 1 67,433 1 49,865 1 64,063 Other receivables and prepayments 1 37,630 6 7,748 4 25,705 3 17,693 Inventories 1 11,980 1 30,571 8 4,674 1 04,126 Total current assets 4 87,563 3 97,215 7 44,620 6 16,162 Non-current assets Subsidiary - - 5 ,000 5 ,000 Prepayments 6 ,455 3 ,385 6 ,292 3 ,327 Net investment on sublease 1 91 - 1 91 - Vehicles, premises and equipment 6 18,897 7 15,145 6 01,439 6 95,993 Deferred tax assets 2 6,695 2 1,540 - - Total non-current assets 6 52,238 7 40,070 6 12,922 7 04,320 Total assets 1 ,139,801 1 ,137,285 1 ,357,542 1 ,320,482