Temasek Review 2021
Group Financials

Group Income Statements

In 2018, Temasek adopted the International Financial Reporting Standards (IFRS), in line with Singapore's convergence with IFRS. This included the adoption of IFRS 9: Financial Instruments in 2018 and IFRS 16: Leases in 2019. You can find out more information here.

(From 2002 to 2021) In S$ billion
For year ended
31 March

On 1 April 2018, the Group adopted International Financial Reporting Standards (IFRS). The Group also adopted new and amended IFRS and Interpretations of IFRS that were mandatory for application for the financial year ended 31 March 2019, which included IFRS 1: First-time adoption of IFRS, IFRS 9: Financial Instruments and IFRS 15: Revenue from Contracts with Customers. Changes in accounting policies as a result of IFRS 1 and IFRS 15 were applied retrospectively to the Group financial statements for the year ended 31 March 2018. The effects of adoption of IFRS 9 were recognised in the shareholder equity as at 1 April 2018. Comparative financial statements for the years ended 31 March 2002 to 2017 were prepared based on Singapore Financial Reporting Standards.

Revenue
Cost of sales
Gross profit
Other income
Expenses:
Selling & Distribution
Administrative
Finance
Other expenses
Profit before share of results of associates, partnerships and joint ventures
Share of results
of associates and partnerships
Share of results
of joint ventures
Profit before
income tax
Tax expense
Profit for the year
(Profit)/Loss attributable to non-controlling interests
Group net profit
Additional Information:
Unrealised mark to market losses/(gains) of sub-20% investments
Group net profit, excluding unrealised mark to market losses/(gains) of sub-20% investments
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
42.6 49.6 56.5 67.5 79.8 74.6 83.3 79.6 76.7 83.5 83.5 94.3 92.4 101.6 101.5 97.0 107.4 114.6 118.6 110.9
(29.3) (34.6) (37.7) (43.8) (53.3) (49.3) (53.3) (57.5) (50.7) (53.0) (56.3) (64.5) (63.7) (70.4) (73.3) (68.6) (74.7) (85.0) (87.4) (80.5)
13.3 15.0 18.8 23.7 26.5 25.3 30.0 22.1 26.0 30.5 27.2 29.8 28.7 31.2 28.2 28.4 32.7 29.6 31.2 30.4
5.5 2.7 5.9 4.1 9.4 8.3 15.8 16.2 4.5 4.9 6.3 5.5 6.0 9.2 11.0 10.0 13.3 7.2 7.3 56.4
(2.6) (3.3) (3.6) (3.9) (4.1) (4.3) (5.2) (5.0) (5.3) (5.8) (5.6) (5.2) (4.7) (5.0) (4.4) (3.7) (3.3) (3.4) (3.5) (2.4)
(4.4) (5.2) (5.7) (7.0) (8.0) (8.1) (8.6) (8.1) (8.7) (7.3) (8.0) (8.7) (8.9) (9.6) (8.0) (8.4) (8.7) (8.4) (8.4) (11.3)
(1.5) (1.7) (1.7) (2.1) (2.4) (2.6) (3.2) (2.7) (2.4) (2.6) (2.6) (2.6) (2.3) (2.1) (2.7) (2.8) (3.2) (3.7) (4.7) (4.7)
(3.2) (7.6) (4.2) (5.0) (4.9) (5.1) (8.7) (15.3) (10.0) (6.2) (7.1) (6.7) (7.5) (8.1) (16.0) (8.9) (9.5) (7.4) (10.5) (18.8)
7.1 (0.1) 9.5 9.8 16.5 13.5 20.1 7.2 4.1 13.5 10.2 12.1 11.3 15.6 8.1 14.6 21.3 13.9 11.4 49.6
0.4 0.7 1.5 1.4 1.2 (0.8) 3.2 1.3 2.4 2.6 3.0 2.5 4.3 3.5 4.4 3.3 6.8 2.6 3.5 5.9
0.5 0.8 1.0 1.3 1.6 2.2 1.9 2.0 1.7 1.6 1.9 1.9 2.1 2.2 2.4 2.3 2.2 0.3 1.0
7.5 1.1 11.8 12.2 19.0 14.3 25.5 10.4 8.5 17.8 14.8 16.5 17.5 21.2 14.7 20.3 30.4 18.7 15.2 56.5
(2.0) (0.3) (2.1) (1.8) (2.5) (1.3) (3.0) (1.3) (1.7) (2.0) (1.4) (2.0) (2.3) (2.5) (2.1) (2.6) (2.8) (2.8) (2.9) (2.3)
5.5 0.8 9.7 10.4 16.5 13.0 22.5 9.1 6.8 15.8 13.4 14.5 15.2 18.7 12.6 17.7 27.6 15.9 12.3 54.2
(0.6) (0.6) (2.3) (2.9) (3.7) (3.9) (4.3) (2.9) (2.2) (3.1) (2.7) (3.8) (4.3) (4.2) (4.2) (3.5) (5.9) (4.1) (3.5) 2.3
4.9 0.2 7.4 7.5 12.8 9.1 18.2 6.2 4.6 12.7 10.7 10.7 10.9 14.5 8.4 14.2 21.7 11.8 8.8 56.5
1.0 2.6 (45.5)
4.9 0.2 7.4 7.5 12.8 9.1 18.2 6.2 4.6 12.7 10.7 10.7 10.9 14.5 8.4 14.2 21.7 12.8 11.4 11.0