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Annual Report 2011

TABLE OF CONTENTS
1 2 4 5 8 12 15 18 21 30 32 33 Vision & Mission Group Financial Highlights Significant Events Geographical Presence Message from Executive Chairman & Group CEO Board of Directors Key Management Financial Review Operating Review Corporate Social Responsibility Investor Relations Financial Statements

HYFLUX LTD ANNUAL REPORT 2011

OUR VISION
To be the leading company the world seeks for innovative and effective environmental solutions.

OUR MISSION
To provide efficient and cost-effective solutions to meet our clients’ needs through innovation and technological advancement.

1

DELIVERING INNOVATIVE SOLUTIONS LEADING THE WAY

GROUP FINANCIAL HIGHLIGHTS
KEY FINANCIAL DATA for year ended 31 December (S$’000) Revenue Profit before tax Profit after tax Profit attributable to shareholders Shareholders’ equity Total assets Net assets Net asset value per share (cents) (1)(2) Earnings per share (cents) (2)

2007 192,786 38,693 36,645 32,949 239,772 549,500 247,067 30.50 4.21 1.26 17.1 13.7

2008 554,224 70,375 62,218 59,036 297,547 846,555 307,899 37.80 7.50 2.29 10.7 19.8

2009 524,814 82,972 74,291 75,036 365,244 1,072,563 393,402 46.10 9.51 3.33 14.3 20.5

2010 569,737 100,473 88,885 88,510 502,501 1,359,702 514,507 58.60 10.52 4.17 15.5 17.6

2011 481,975

62,043

53,027 920,591

55,725

2,032,465

935,567 60.60 2.77

4.30

Dividend per share (cents) (2) Return on revenue (%) Return on equity (%) (1) (2)

11.6 5.8

Net asset value excludes non-controlling interests and is adjusted for Class A Cumulative Perpetual Preference Shares of S$400 million for FY2011 FY2007 to 2009 were restated to include the December 2010 issue of one bonus share for every two existing ordinary shares

GROUP REVENUE BY COUNTRY & REGION (S$ million)

600 500 400 300 200 100 0
2

16.5 223.0

13.0 330.5

75.1 343.8 226.9

Singapore / Others MENA China

314.7 27.6 114.4 181.3 150.8

8.2 157.0

140.7

FY07

FY08

FY09

FY10

FY11

HYFLUX LTD ANNUAL REPORT 2011

GROUP FINANCIAL HIGHLIGHTS

$53.0m
100 90 80 70 60 50 40 30 20 10 0
FY07 FY08 32.9 59.0

PROFIT ATTRIBUTABLE TO SHAREHOLDERS (S$ million)
88.5 75.0 53.0

60.6 cents
70 60 50 40 30 20 10
30.5 37.8 46.1

NET ASSET VALUE PER SHARE (1) (2) (Singapore cents)
58.6 60.6

FY09

FY10

FY11

0

FY07

FY08

FY09

FY10

FY11

4.30 cents
EARNINGS PER SHARE (Singapore cents)
12 10 8 6 4 2 0
FY07 FY08 4.21 7.50 9.51

(2)

2.77 cents
10.52

DIVIDEND PER SHARE (2) (Singapore cents)
4.17 3.33 2.77 2.29 1.26

4.5 4.0 3.5 3.0 2.5
4.30

2.0 1.5 1.0 0.5 0.0

FY09

FY10

FY11

FY07

FY08

FY09

FY10

FY11

5.8%
25 20 15 10 5 0
FY07 13.7

RETURN ON EQUITY (%)
20.5 17.6

19.8

5.8

FY08

FY09

FY10

FY11

(1) (2)

Net asset value excludes non-controlling interests and is adjusted for Class A Cumulative Perpetual Preference Shares of S$400 million for FY2011 FY2007 to 2009 were restated to include the December 2010 issue of one bonus share for every two existing ordinary shares 3

DELIVERING INNOVATIVE SOLUTIONS LEADING THE WAY

SIGNIFICANT EVENTS

JANUARY

Hyflux signed three concession agreements with the People’s Government of Chongqing City, Hechuan District to develop two 20,000 m3/day wastewater treatment plants and a 50,000 m3/day potable water treatment plant at the Hechuan Industrial Park in Chongqing City, China.

APRIL

Hyflux and PUB signed a 25-year water purchase agreement for Tuaspring Desalination Plant. Under the agreement, Tuaspring Pte Ltd, a whollyowned subsidiary of Hyflux, will deliver desalinated water from 2013 to 2038. Hyflux successfully closed an offer for S$400 million of 6% Cumulative, Non-Convertible, Non-Voting, Perpetual Class A Preference Shares. This was the first non-financial, corporate perpetual preference share issued in Singapore.

OCTOBER

Hyflux launched the new...
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