Annual Report 2022

240 Transport International Holdings Limited 2022 Annual Report FINANCIAL SUMMARY For the years ended 31 December (Expressed in Hong Kong dollars) 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 $’M $’M $’M $’M $’M $’M $’M $’M $’M $’M (Restated) Note (c) Note (b) Note (a) Statement of profit or loss Continuing operations Revenue 6,607 7,202 6,191 8,112 8,009 7,888 7,744 7,780 7,557 7,420 Profit before taxation 56 272 1,722 699 837 1,008 1,016 747 508 458 Income tax credit/(expense) 88 (27) 182 (94) (117) (148) (150) (128) (69) (55) Profit for the year from continuing operations 144 245 1,904 605 720 860 866 619 439 403 Discontinued operations Profit/(loss) for the year from discontinued operations – – – – – 429 (42) – – – Profit for the year 144 245 1,904 605 720 1,289 824 619 439 403 Non-controlling interests – – – – – 6 7 10 (24) (32) Profit attributable to equity shareholders of the Company 144 245 1,904 605 720 1,295 831 629 415 371 Statement of financial position Investment properties, investment property under development, interest in leasehold land and other property, plant and equipment 12,383 11,976 10,954 10,154 9,841 9,261 8,875 6,133 4,817 4,487 Intangible assets 529 420 365 365 361 132 132 132 135 132 Goodwill 84 84 84 84 84 84 84 84 84 84 Non-current prepayments – – – – – – 2 15 7 12 Interest in associates 600 682 657 612 611 625 602 634 740 724 Interest in joint venture 751 751 751 – – – – – – – Other financial assets 1,716 1,354 1,474 1,264 1,709 1,493 1,207 112 183 229 Employee benefit assets 1,541 1,959 1,701 1,307 913 1,287 626 577 861 1,018 Net current assets/(liabilities) 235 (39) 229 1,369 711 438 377 1,321 2,112 2,009 Employment of funds 17,839 17,187 16,215 15,155 14,230 13,320 11,905 9,008 8,939 8,695 Financed by: Share capital 475 465 458 447 435 422 412 404 404 404 Reserves 12,903 13,213 12,728 10,525 9,761 9,120 7,414 6,804 6,793 6,704 Total equity attributable to equity shareholders of the Company 13,378 13,678 13,186 10,972 10,196 9,542 7,826 7,208 7,197 7,108 Non-controlling interests – – – – – – 146 154 190 192 Total equity 13,378 13,678 13,186 10,972 10,196 9,542 7,972 7,362 7,387 7,300 Contingency provision – insurance 148 178 218 244 241 285 253 251 274 298 Long-term bank loans 3,293 2,139 1,684 2,707 2,625 2,353 2,724 589 545 399 Employee benefit liabilities – – – – 3 – 9 9 6 – Other liabilities 1,020 1,192 1,127 1,232 1,165 1,140 947 797 727 698 Funds employed 17,839 17,187 16,215 15,155 14,230 13,320 11,905 9,008 8,939 8,695 Earnings/(loss) per share ($) 0.31 0.53 4.21 1.38 1.68 3.11 2.04 1.56 1.03 0.92 – From continuing operations 0.31 0.53 4.21 1.38 1.68 2.07 2.12 – – – – From discontinued operations – – – – – 1.04 (0.08) – – – Dividends per share ($) 0.50 0.50 0.50 1.00 1.20 1.25 1.25 1.20 0.90 0.60 Total assets per share ($) 44.53 42.85 42.16 37.40 35.46 34.69 32.34 27.42 25.28 25.36 Net assets per share ($) 28.17 29.39 28.80 24.55 23.46 22.59 19.36 18.24 18.30 18.09 Notes: (a) The disposal of RoadShow Holdings Limited in 2017 constituted a discontinued operation. In accordance with HKFRS 5, Non-current assets held for sale and discontinued operations , the Group has re-presented the comparative information in 2016 in this regard. (b) The Group has initially applied HKFRS 9, Financial instruments , at 1 January 2018. Under the transition method chosen, comparative information was not restated. (c) As a result of the adoption of HKFRS 16, Leases , with effect from 1 January 2019, the Group has changed its accounting policies in respect of the lessee accounting model. In accordance with the transitional provisions of the standard, the changes in accounting policies were adopted by way of recognising right-of-use assets and lease liabilities as at 1 January 2019. After initial recognition of these assets and liabilities, the Group as a lessee is required to recognise interest expense accrued on the outstanding balance of the lease liability, and the depreciation of the right-of-use asset, instead of the previous policy of recognising rental expenses incurred under operating leases on a straight-line basis over the lease term. Under the transition method chosen, comparative information was not restated.