Group Five-year Financial Summary – Singtel Annual Report 2018

	Financial Year ended 31 March
	2018	Restated ⁽¹⁾ 2017	2017	2016	2015	2014
Income Statement (S$ million)
Group operating revenue	17,532	16,711	16,711	16,961	17,223	16,848
Singtel	8,396	7,928	7,928	7,663	7,348	6,912
Optus	9,136	8,784	8,784	9,298	9,875	9,936
Optus (A$ million)	8,710	8,425	8,425	9,115	8,790	8,466
Group EBITDA	5,089	4,998	4,998	5,013	5,091	5,155
Singtel	2,181	2,213	2,213	2,187	2,146	2,223
Optus	2,909	2,784	2,784	2,825	2,945	2,932
Optus (A$ million)	2,774	2,669	2,669	2,771	2,624	2,502
Share of associates' pre-tax profits	2,461	2,886	2,942	2,791	2,579	2,201
Group EBITDA and share of associates' pre-tax profits	7,550	7,884	7,939	7,804	7,670	7,357
Group EBIT	5,210	5,645	5,701	5,655	5,508	5,224
Net profit after tax	5,451	3,853	3,853	3,871	3,782	3,652
Underlying net profit ⁽²⁾	3,544	3,871	3,915	3,805	3,779	3,610
Exchange rate (A$ against S$) ⁽³⁾	1.049	1.043	1.043	1.020	1.123	1.174

Cash Flow (S$ million)
Group free cash flow ⁽⁴⁾	3,606	3,054	3,054	2,718	3,549	3,249
Singtel	1,126	1,040	1,040	869	1,379	1,181
Optus	989	514	514	631	1,070	1,020
Optus (A$ million)	948	500	500	617	976	903
Associates' dividends (net of withholding tax)	1,492	1,500	1,500	1,218	1,100	1,048
Cash capital expenditure	2,349	2,261	2,261	1,930	2,238	2,102
Balance Sheet (S$ million)
Total assets	48,254	48,294	48,294	43,566	42,067	39,320
Shareholders' funds	29,679	28,214	28,214	24,989	24,733	23,868
Net debt	9,820	10,384	10,384	9,142	7,963	7,534
Key Ratios
Proportionate EBITDA from outside Singapore (%)	77	75	75	74	74	73
Return on invested capital (%) ⁽⁵⁾	14.7	10.9	11.1	11.7	12.1	11.6
Return on equity (%)	18.8	14.5	14.5	15.6	15.6	15.3
Return on total assets (%)	11.2	8.3	8.3	9.0	9.3	9.2
Net debt to EBITDA and share of associates' pre-tax profits (number of times)	1.3	1.3	1.3	1.2	1.0	1.0
EBITDA and share of associates' pre-tax profits to net interest expense (number of times)	20.2	23.4	23.6	25.3	29.2	28.7
Per Share Information (S cents)
Earnings per share - basic	33.40	23.96	23.96	24.29	23.73	22.92
Earnings per share - underlying net profit ⁽²⁾	21.71	24.07	24.35	23.88	23.71	22.65
Net assets per share	182	173	173	157	155	150
Dividend per share - ordinary	17.5	17.5	17.5	17.5	17.5	16.8
Dividend per share - special	3.0	-	-	-	-	-

''Singtel'' refers to the Singtel Group excluding Optus.

Notes:

(1)FY 2017 have been restated to reclassify AIS’ 3G/4G handset subsidy costs from exceptional items of the Group to share of associates’ profits to be consistent with FY 2018.
(2)Underlying net profit is defined as net profit before exceptional items.
(3)Average A$ rate for translation of Optus' operating revenue.
(4)Free cash flow refers to cash flow from operating activities, including dividends from associates, less cash capital expenditure.
(5)Return on invested capital is defined as EBIT (post-tax) divided by average capital. For FY 2018, EBIT included the gain on disposal of economic interest in NetLink Trust.