AEM : is on track for a record year, revises FY2022 revenue guidance upwards, declares interim dividend

Table of Contents

Page

Condensed Interim Consolidated Statement of Profit or Loss and Other Comprehensive Income

3

Condensed Interim Statements of Financial Position

5

Condensed Interim Statements of Changes in Equity

6

Condensed Interim Consolidated Statement of Cash Flows

10

Notes to the Condensed Interim Consolidated Financial Statements

12

Other Information required by Listing Rule Appendix 7.2

25

6 months

6 months

ended 30

ended 30

June 2022

June 2021

Change*

("1H2022")

("1H2021")

S$'000

S$'000

%

Note

Revenue

4

540,483

192,251

181%

Cost of sales

(374,230)

(126,825)

195%

Gross profit

166,253

65,426

154%

Other income

3,057

1,379

122%

Research & development expenses

(15,762)

(6,617)

138%

Selling, general & administrative expenses

(53,601)

(23,205)

131%

Foreign exchange gain/(loss), net

3,111

(254)

NM

Other expenses

(4)

(258)

98%

Results from operating activities

103,054

36,471

183%

Finance income

305

109

180%

Finance costs

(857)

(867)

(1%)

Net finance costs

(552)

(758)

(27%)

Share of equity-accounted investees' loss, net of tax

(463)

(203)

128%

Profit before tax

6

102,039

35,510

187%

Tax expense

7

(18,978)

(5,814)

226%

Profit for the period

83,061

29,696

180%

Profit attributable to:

Owners of the Company

82,832

29,556

180%

Non-controlling interests

229

140

64%

Profit for the period

83,061

29,696

180%

Earnings per share for profit for the period attributable to the

owners of the Company:

Basic (SGD in cent)

8

26.78

10.61

152%

Diluted (SGD in cent)

8

26.57

10.52

153%

6 months

6 months

ended 30

ended 30

June 2022

June 2021

Change*

("1H2022")

("1H2021")

S$'000

S$'000

%

Note

Other comprehensive income/(loss)

Items that are or may be reclassified subsequently to profit or loss:

Foreign currency translation difference

1,400

(422)

NM

Share of foreign currency translation difference of equity-accounted

investees

(328)

(81)

305%

Other comprehensive income/(loss) for the period, net of tax

1,072

(503)

NM

Total comprehensive income for the period

84,133

29,193

188%

Total comprehensive income attributable to:

Owners of the Company

83,908

29,058

189%

Non-controlling Interests

225

135

67%

Total comprehensive income for the period

84,133

29,193

188%

Group

Company

30 June

31 December

30 June

31 December

2022

2021

2022

2021

S$'000

S$'000

S$'000

S$'000

Note

Assets

Property, plant and equipment

12

39,486

26,122

18

23

Right-of-use assets

37,564

17,767

-

-

Intangible assets

11

111,070

96,882

83

44

Interests in subsidiaries

-

-

43,239

42,986

Investment in associates

15,249

15,887

4,667

4,667

Other investment

4,612

2,607

-

-

Deferred tax assets

1,064

1,121

19

19

Non-current assets

209,045

160,386

48,026

47,739

Inventories

13

279,128

204,926

-

-

Contract cost

227

373

-

-

Trade and other receivables

158,765

127,941

50,829

31,400

Contract assets

569

692

-

-

Cash and cash equivalents

180,901

216,180

103,100

115,794

Current assets

619,590

550,112

153,929

147,194

Total assets

828,635

710,498

201,955

194,933

Equity

Share capital

15

187,248

187,197

187,248

187,197

Reserves

(19,969)

(19,113)

(7,078)

(5,146)

Accumulated profits

301,807

234,430

9,278

2,375

Equity attributable to owners of

the Company

469,086

402,514

189,448

184,426

Non-controlling interests

6,034

-

-

-

Total equity

475,120

402,514

189,448

184,426

Liabilities

Financial liabilities

14

82,009

60,771

-

-

Trade and other payables

845

1,563

845

1,563

Deferred tax liabilities

7,760

8,044

-

-

Provisions

2,076

1,419

-

-

Defined benefit obligations

1,083

959

-

-

Non-current liabilities

93,773

72,756

845

1,563

Financial liabilities

14

15,340

20,502

-

-

Trade and other payables

208,619

181,048

8,652

6,920

Contract liabilities

4,607

11,861

-

-

Current tax payable

28,739

18,815

3,010

2,024

Provisions

2,437

3,002

-

-

Current liabilities

259,742

235,228

11,662

8,944

Total liabilities

353,515

307,984

12,507

10,507

Total equity and liabilities

828,635

710,498

201,955

194,933