SBS TRANSIT LTD ANNUAL

Financial Statements

SBS TRANSIT LTD Company Registration No.: 199206653M Full Year Financial Statements and Dividend Announcement The Board of Directors announces the audited results for the year ended 31 December 2017. 1 GROUP INCOME STATEMENT Group Full Year Full Year Incr/ 2017 2016 (Decr) $'000 $'000 % Revenue 1 ,191,717 1 ,098,736 8 .5 Staff costs 6 28,553 5 81,143 8 .2 Repairs and maintenance costs 1 51,684 1 31,453 1 5.4 Fuel and electricity costs 1 31,076 1 27,082 3 .1 Premises costs 5 7,128 5 1,959 9 .9 Depreciation expense 9 6,925 8 1,660 1 8.7 Other operating costs 6 7,008 8 3,680 ( 19.9) Total operating costs 1 ,132,374 1 ,056,977 7 .1 Operating profit 5 9,343 4 1,759 4 2.1 Net income from investments 2 42 2 43 ( 0.4) Finance costs ( 4,482) ( 5,268) ( 14.9) Profit before taxation 5 5,103 3 6,734 5 0.0 Taxation ( 7,975) ( 5,384) 4 8.1 Profit attributable to shareholders 4 7,128 3 1,350 5 0.3 Page 1 of 17 2 STATEMENTS OF FINANCIAL POSITION Group Company 31 Dec 31 Dec 31 Dec 31 Dec 2017 2016 2017 2016 $'000 $'000 $'000 $'000 ASSETS Current assets Cash and bank balances 5 ,275 4 ,254 4 ,028 3 ,446 Investments 5 ,134 - 5 ,134 - Trade receivables 1 22,582 7 7,238 1 19,470 7 6,284 Other receivables and prepayments 3 1,701 1 9,274 1 99,599 1 28,408 Inventories 9 4,012 5 9,695 8 2,997 5 3,000 Total current assets 2 58,704 1 60,461 4 11,228 2 61,138 Non-current assets Subsidiary - - 5 ,000 5 ,000 Investments - 5 ,268 - 5 ,268 Prepayments 2 ,537 2 ,527 2 ,506 2 ,519 Vehicles, premises and equipment 8 03,844 8 66,186 7 83,821 8 51,924 Deferred tax assets 2 2,737 2 0,354 - - Total non-current assets 8 29,118 8 94,335 7 91,327 8 64,711 Total assets 1 ,087,822 1 ,054,796 1 ,202,555 1 ,125,849 LIABILITIES AND EQUITY Current liabilities Borrowings 5 6,000 1 50,000 5 6,000 1 50,000 Trade and other payables 2 72,302 2 41,948 2 40,764 2 14,181 Deposits received 3 ,648 4 ,967 3 ,271 4 ,301 Insurance premiums payable and provision for accident claims 2 1,965 2 4,799 2 1,965 2 4,799 Fuel price equalisation account 1 9,992 1 9,992 1 9,992 1 9,992 Income tax payable 9 ,309 6 7 9 ,309 6 7 Total current liabilities 3 83,216 4 41,773 3 51,301 4 13,340 Non-current liabilities Borrowings 1 25,000 6 6,000 1 25,000 6 6,000 Deferred grants 6 ,958 7 ,709 6 ,958 7 ,709 Deposits received 5 ,600 4 ,802 4 ,390 3 ,908 Deferred tax liabilities 8 7,112 8 5,554 8 7,112 8 5,554 Provision for service benefit