ST Engineering ANNUAL

Notes to the Financial Statements

48 ST ENGINEERING | ANNUAL REPORT 2024 FINANCIAL REVIEW CASH FLOWS and acquisition of D’Crypt Pte. Ltd. Standards (International) (SFRS (I)). ($55m), partially offset by proceeds The significant accounting policies In FY2024, the Group generated from disposal of property, plant and are presented at the end of each strong operating cash flow of $1,718m. equipment ($191m) and dividends from Notes to the Financial Statements $414m was deployed for investing associates and joint ventures ($48m). (pages 138 to 261). activities and $1,222m for financing activities to end the year with CCE of Financing Activities The Group’s accounting policies $430m. Net cash used in financing activities and methods of computation in the of $1,222m in FY2024 was mainly preparation of the financial statements Operating Activities attributed to payment of dividends for the current reporting period are Net cash from operating activities of ($511m), net repayment of bank loans consistent with those used in the $1,718m in FY2024 was higher than the ($275m), interest paid ($211m) and previous financial year. The adoption prior year due to higher EBITDA and net repayment of commercial papers of the new and revised SFRS(I)s favourable working capital movements. ($113m). and related interpretations that are mandatory for financial year beginning Investing Activities SIGNIFICANT ACCOUNTING on or after 1 January 2024 has no Net cash used in investing activities of POLICIES significant impact on the financial $414m in FY2024 was mainly attributed statements of the Group or the to the Group’s investment in property, The Group’s financial statements Company in the current year or prior plant and equipment ($480m), are prepared in accordance with financial years. additions to intangible assets ($65m) Singapore Financial Reporting CASH FLOWS ($m) Operating Activities Investing Activities Financing Activities 1,179 1,718 (201) (414) (1,226) (1,222) 2,000 1,500 1,000 500 0 (500) (1,000) (1,500) 2023 2024 2023 2024 2023 2024 CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT 49 TOTAL SHAREHOLDER RETURN TOTAL SHAREHOLDER RETURN (%) Based on the average share price of 20.54 23.76 $4.28, the total dividend per ordinary 30 share of 17.0 cents for the financial year1 2024 translated to a dividend yield of 3.97%. 25 The share price of ST Engineering as 3.97 20 at the end of 2024 was $4.