Revenue
$6.8b
Decreased by 34% from $10.3 billion in FY 2015.

Revenue decreased mainly due to lower revenue from the Offshore & Marine and Infrastructure divisions, partially offset by higher revenue from the Property Division.

Net Profit
$784m
Decreased by 49% from $1.5 billion in FY 2015.

Net profit was lower mainly due to lower contribution from the Offshore & Marine Division.

Return on Equity
6.9%
Decreased by 7.3 percentage points from 14.2% in FY 2015.

Return on Equity decreased mainly due to lower net profit and higher equity.

Economic Value Added
($140m)
Decreased by $788 million from $648 million in FY 2015.

Economic Value Added was lower mainly due to lower net operating profit after tax.

Earnings Per Share
$0.43
Decreased by 49% from $0.84 per share in FY 2015.

There was no significant dilution in Earnings Per Share as no major capital call has been made since 1997.

Cash Dividend Per Share
20.0¢
Down from FY 2015 cash dividend of 34.0 cents per share.

Total distribution for FY 2016 comprises a proposed final cash dividend of 12.0 cents per share and the interim cash dividend of 8.0 cents per share paid out in 3Q 2016.

Net Asset Value Per Share
$6.42
Increased by 5% from $6.13 per share in FY 2015.
Net Gearing Ratio
0.56x
Increased slightly from 0.53x in FY 2015.
Free Cash Flow*
$576m
Improved from cash outflow of $694 million in FY 2015.
Group Quarterly Results ($m)
2016 2015
1Q 2Q 3Q 4Q Total 1Q 2Q 3Q 4Q Total
Revenue 1,743 1,625 1,459 1,940 6,767 2,814 2,563 2,440 2,479 10,296
EBITDA 334 292 238 168 1,032 464 479 425 366 1,734
Operating profit 278 234 185 98 795 398 414 371 331 1,514
Profit before tax 278 285 286 206 1,055 455 498 470 574 1,997
Attributable profit 211 205 225 143 784 360 397 363 405 1,525
Earnings per share (cents) 11.6 11.3 12.4 7.9 43.2 19.8 21.9 20.0 22.3 84.0
2016 2015 % Change
For the year ($m)
Revenue 6,767 10,296 -34%
Profit
EBITDA 1,032 1,734 -40%
Operating 795 1,514 -47%
Before tax 1,055 1,997 -47%
Net profit 784 1,525 -49%
Operating cash flow 330 (785) n.m.
Free cash flow* 576 (694) n.m.
Economic value added (140) 648 n.m.
Per share
Earnings ($) 0.43 0.84 -49%
Net assets ($) 6.42 6.13 +5%
Net tangible assets ($) 6.34 6.07 +4%
At year-end ($m)
Shareholders’ funds 11,659 11,096 +5%
Non-controlling interests 675 830 -19%
Total equity 12,334 11,926 +3%
Net debt 6,966 6,366 +9%
Net gearing ratio (times) 0.56 0.53 +6%
Return on shareholders’ funds (%)
Profit before tax 8.8 17.7 -50%
Net profit 6.9 14.2 -51%
Shareholders’ value
Distribution (cents per share)
Interim dividend 8.0 12.0 -33%
Final dividend 12.0 22.0 -45%
Total distribution 20.0 34.0 -41%
Share price ($) 5.79 6.51 -11%
Total shareholder return (%) (6.3) (22.3) n.m.
n.m. = not meaningful
* Free cash flow excludes expansionary acquisitions and capex, and major divestments.