SEMBCORP DELIVERS STRONG FY2011 PERFORMANCE

– Utilities business achieves record profits of S$304.4 million, up 32%


Highlights from Sembcorp’s FY2011 Financial Results


 Turnover at S$9.0 billion, up 3%

 Profit from Operations at S$1.3 billion, down 5%

 Net Profit before EI at S$809.3 million, up 6%

 Net Profit after EI at S$809.3 million, up 2%

 EPS at 45.3 cents

 ROE at 20.4%

 Proposing final tax exempt one-tier dividend of 17.0 cents per ordinary share, comprising an ordinary dividend of 15.0 cents and a bonus dividend of 2.0 cents

*Profit from Operations = Earnings before Interest and Tax + Share of Associates and JVs’ results (net of tax).


SINGAPORE, February 27, 2012 – Sembcorp Industries (Sembcorp) delivered a strong performance in 2011. Our net profit attributable to shareholders of the Company (net profit) for the full year 2011 (FY2011) grew 2% from S$792.9 million in 2010 to S$809.3 million, while turnover was up 3% from S$8.8 billion in the previous year to S$9.0 billion. Our main profit contributors continued to be our Utilities and Marine businesses, which accounted for 37% and 55% of Group net profit respectively. Our Utilities business delivered robust profit growth in FY2011, with net profit growing 32% to S$304.4 million. Record profits for the business were driven by good operating performance in Singapore, China and Middle East & Africa. Marine’s FY2011 net profit contribution to the Group was S$456.2 million compared to S$492.8 million in FY2010.

Return on equity for the Group was 20.4% and earnings per share amounted to 45.3 cents for the year. Economic value added was a positive S$728.2 million while cash and cash equivalents stood at S$3.0 billion.

In 4Q2011, Group net profit increased 10% to S$251.9 million against the previous year. Utilities delivered a strong 62% increase in net profit to S$88.2 million, growing its contribution to the Group’s net profit to 35% from 24% in 4Q2010. Marine’s 4Q2011 net profit was S$138.3 million, compared to S$145.8 million last year.