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JARDINE MATHESON
Annual Report
2021
2021
Group Overview
Jardine Matheson is a diversified Asian-based group with unsurpassed experience in the region. We comprise a broad portfolio of market-leading businesses, whose activities are closely aligned to the growing middle class and urbanisation in our key markets. We are committed to providing the support and resources for our Group companies to achieve sustainable long-term growth, as well as to make a difference to and improve the communities we engage in.
#Excluding net borrowings of financial services companies.
†Including expenditure on properties for sale and associates and joint ventures.
Highlights
- Underlying net profit up 39% against 2020, 5% below 2019
- Increased earnings per share and enhanced corporate governance through simplification of Group’s parent company structure
- Underlying earnings per share US$4.83, up 64% against prior year and 14% higher than 2019
- Full year dividend at US$2.00, up 16%
Creating Value at Jardines
Jardine Matheson has maintained a sustainable balance of both growth and developed markets. We have deep roots across the region and have been partnering with founders and management for 190 years. Today, we have over 400,000 employees and generate a gross revenue of over US$109 billion. This section details Jardines’ approach to business and how we create value, both at a Group level and for our investee companies.
Chairman’s Statement
Jardines faced major challenges in 2021 as a result of the ongoing pandemic, but the dedication and hard work of our colleagues across the Group enabled us to continue to adapt to the changing trading environment and deliver significant improvements in the underlying performance of our businesses. The Company also deployed substantial levels of capital to acquire 100% of Jardine Strategic, which both enhanced corporate governance and created significant value for our shareholders, while also increasing the Group’s operational and financial flexibility.
Group Managing Director’s Review
We remain confident in our long-term strategy, rooted in the growth markets of China and Southeast Asia, and we will continue to focus our core priorities of driving operational excellence, evolving the Group’s portfolio and finding new growth opportunities, in order to deliver long-term value.
Financial Reivew
The Group’s underlying net profit and underlying earnings per share in 2021 were up by 39% and 64%, respectively, from 2020 as the performance and profitability of the Group’s businesses through the COVID-19 pandemic started to improve.
Sustainability
Our sustainability strategy, entitled ‘Building Towards 2030’, encompasses the Group’s response to social and environmental megatrends that are shaping the communities we serve, and has three core pillars – Leading Climate Action, Driving Responsible Consumption and Shaping Social Inclusion.
