CapitaLand Investment Limited - Annual Report 2021

145 CapitaLand Investment Limited 144 Annual Report 2021 The Group The Company Note 31 Dec 2021 31 Dec 2020 31 Dec 2021 31 Dec 2020 $’M $’M $’M $’M Non-current assets Property, plant and equipment 4 1,067 1,096 21 * Intangible assets 5 990 1,006 * * Investment properties 6 16,249 15,852 – – Subsidiaries 7 – – 11,159 1,575 Associates 8 10,466 10,908 – – Joint ventures 9 2,782 2,290 – – Deferred tax assets 10 58 58 – – Other non-current assets 11 212 770 3 – 31,824 31,980 11,183 1,575 Current assets Development properties for sale 12 268 211 – – Trade and other receivables 13 1,661 4,258 243 93 Other current assets 11 14 6 – – Assets held for sale 14 2 32 – – Cash and cash equivalents 15 3,877 1,736 362 10 5,822 6,243 605 103 Less: current liabilities Trade and other payables 16 2,128 5,513 269 29 Short term borrowings 17 1,941 1,132 11 – Current portion of debt securities 18 608 22 – – Current tax payable 939 470 1 * 5,616 7,137 281 29 Net current assets/(liabilities) 206 (894) 324 74 Less: non-current liabilities Long term borrowings 17 10,428 6,049 12 – Debt securities 18 571 1,263 – – Deferred tax liabilities 10 538 464 – – Other non-current liabilities 19 392 7,576 819 1,435 11,929 15,352 831 1,435 Net assets 20,101 15,734 10,676 214 Representing: Share capital 21 10,760 7,926 10,760 * Revenue reserve 10,165 8,916 105 203 Other reserves 22 (4,881) (4,967) (189) 11 Equity attributable to owners of the Company 16,044 11,875 10,676 214 Perpetual securities 23 396 396 – – Non-controlling interests 7 3,661 3,463 – – Total equity 20,101 15,734 10,676 214 * Less than $1 million The accompanying notes form an integral part of the financial statements. Balance Sheets AS AT 31 DECEMBER 2021 The Group Note 2021 2020 $’M $’M Revenue 25 2,293 1,983 Cost of sales (1,235) (1,111) Gross profit 1,058 872 Other operating income 26(a) 888 364 Administrative expenses (763) (475) Other operating expenses (92) (918) Profit/(Loss) from operations 1,091 (157) Finance costs 26(d) (353) (377) Share of results (net of tax) of: – associates 1,008 81 – joint ventures 210 (106) 1,218 (25) Profit/(Loss) before tax 26 1,956 (559) Tax expense 27 (396) (114) Profit/(Loss) for the year 1,560 (673) Attributable to: Owners of the Company 1,349 (559) Non-controlling interests 211 (114) Profit/(Loss) for the year 1,560 (673) Basic earnings per share (cents) 28 38.3 (19.9) Diluted earnings per share (cents) 28 37.6 (19.9) The accompanying notes form an integral part of the financial statements. Consolidated Income Statement YEAR ENDED 31 DECEMBER 2021