CapitaLand Investment Limited - Annual Report 2021

263 CapitaLand Investment Limited 262 Annual Report 2021 Notes to the Financial Statements Notes to the Financial Statements 37 OPERATING SEGMENTS (continued) Operating Segments Fee Income- related Business Real Estate Investment Business Corporate and Others Elimination Total $’M $’M $’M $’M $’M 2021 Revenue External revenue 755 1,478 60 – 2,293 Inter-segment revenue 150 28 197 (375) – Total revenue 905 1,506 257 (375) 2,293 Segment results Company and subsidiaries 312 1,157 (218) – 1,251 Associates – 927 81 – 1,008 Joint ventures 3 146 61 – 210 EBITDA 315 2,230 (76) – 2,469 Depreciation and amortisation (160) Finance costs (353) Tax expense (396) Profit for the year 1,560 Segment assets 1,864 33,984 8,479 (6,681) 37,646 Segment liabilities 444 11,731 5,370 – 17,545 Other segment items: Interest income 1 20 8 – 29 Depreciation and amortisation (16) (116) (28) – (160) Reversal of/(Allowance for) impairment losses on assets (9) 73 (15) – 49 Fair value gain on investment properties – 255 – – 255 Listing and restructuring expenses – – (186) – (186) Share-based expenses (27) (8) (23) – (58) Net gains on disposal of investments and investment properties – 360 – – 360 Associates * 10,466 – – 10,466 Joint ventures 7 2,775 – – 2,782 Capital expenditure # 16 1,307 39 – 1,362 Non-current assets^ 1,002 30,086 44 – 31,132 * Less than $1 million # Capital expenditure consists of additions of property, plant and equipment, investment properties and intangible assets. ^ Non-current assets comprised property, plant and equipment, intangible assets, investment properties, investment in associates and joint ventures and prepayments. 37 OPERATING SEGMENTS (continued) Operating Segments Fee Income- related Business Real Estate Investments Business Corporate and Others Elimination Total $’M $’M $’M $’M $’M 2020 Revenue External revenue 634 1,292 57 – 1,983 Inter-segment revenue 152 22 153 (327) – Total revenue 786 1,314 210 (327) 1,983 Segment results Company and combining entities 170 (196) 18 – (8) Associates – 81 – – 81 Joint ventures 4 (110) – – (106) EBITDA 174 (225) 18 – (33) Depreciation and amortisation (149) Finance costs (377) Tax expense (114) Loss for the year (673) Segment assets 1,740 36,057 7,036 (6,610) 38,223 Segment liabilities 586 19,842 2,061 – 22,489 Other segment items: Interest income 12 19 9 – 40 Depreciation and amortisation (16) (110) (23) – (149) Allowance for foreseeable losses – (17) – – (17) Impairment losses on assets (119) (85) (3) – (207) Fair value loss on investment properties – (698) – – (698) Share-based expenses (13) (2) (3) – (18) Net (losses)/gains on disposal of investments (9) 149 * – 140 Associates * 10,908 – – 10,908 Joint ventures – 2,290 – – 2,290 Capital expenditure # 20 291 17 – 328 Non-current assets ^ 906 29,740 6,659 (6,610) 30,695 * Less than $1 million # Capital expenditure consists of additions of property, plant and equipment, investment properties and intangible assets. ^ Non-current assets comprised property, plant and equipment, intangible assets, investment properties, investment in associates and joint ventures and prepayments.