JARDINE MATHESON
Annual Report 2020
Download the report Share
Highlights

Highlights

  • Underlying net profit attributable to shareholders down 32% to US$1,085 million and underlying earnings per share down 30% to US$2.95
  • Southeast Asian businesses and Mandarin Oriental severely impacted by the pandemic, but resilience in Hongkong Land, Dairy Farm, Jardine Pacific and Jardine Motors
  • Continued investment for the long-term exemplified by US$4.5 billion investment by Hongkong Land in West Bund in Shanghai
  • Dividend maintained at US$1.72 per share for the year, reflecting Board’s confidence in long-term strength of underlying businesses and balance sheet
  • Separate announcement of offer to acquire remaining c.15% of Jardine Strategic for US$33 per share in cash

Analysis of Underlying Profit attributable to Shareholders of US$1,085 million

By Business*
By Sector*

%

US$422m
Property

%

US$257m
Motor vehicles

%

US$229m
Engineering,
heavy equipment,
mining & construction

%

US$248m
Retail & restaurants

%

US$71m
Financial services

(%)

(US$138m)
Hotels

%

US$23m
Others

By Geographical Area*

2020 Financial Highlights

US$m

Gross revenue
 

US$m

Underlying profit before tax
 

US$m

Underlying profit attributable to shareholders

US$m

Total assets
 

US$m

Shareholders’ funds
 

US$m

Net borrowings#
 

People employed
 

US$m

Total capital investment†
 

Results
2020
US$m
2019
US$m
Change
%
Gross revenue including 100% of associates and joint ventures
90,906
103,308
(12)
Revenue
32,647
40,922
(20)
Underlying profit before taxΩ
2,786
4,678
(40)
Underlying profit attributable to shareholdersΩ
1,085
1,589
(32)
(Loss) / profit attributable to shareholders
(394)
2,838
n/a
Shareholders’ funds
29,387
30,351
(3)

US$

US$

%
Underlying earnings per shareΩ
2.95
4.23
(30)
(Loss) / earnings per share
(1.07)
7.56
n/a
Dividends per share
1.72
1.72
–
Net asset value per share§
81.32
81.90
(1)
Underlying Earnings per Share (US$)
2016
3.71
2017
4.10
2018
4.40
2019
4.23
2020
2.95
Net Asset Value per Share (US$)
2016
58.19
2017
68.19
2018
69.19
2019
81.90
2020
81.32

*Based on underlying profit attributable to shareholders before corporate and other interests, which amounted to US$1,112 million.

#Excluding net borrowings of financial services companies.

†Including expenditure on properties for sale and associates and joint ventures.

ΩThe Group uses ‘underlying profit’ in its internal financial reporting to distinguish between ongoing business performance and non-trading items, as more fully described in note 41 to the financial statements. Management considers this to be a key measure which provides additional information to enhance understanding of the Group’s underlying business performance.

§Net asset value per share is based on the book value of shareholders’ funds.

Chairman's Statement
Copyright © Jardine Matheson 2021. All rights reserved. Terms of use | Privacy | Cookie policy