Yinson Annual Report 2020

130 Yinson Holdings Berhad SECTION 5 STRATEGIC REVIEW Management Discussion & Analysis Financial performance FYE 2020 FYE 2019 Change RM’000 RM’000 RM’000 % Extract from Income Statements Revenue 2,519,340 1,034,899 1,484,441 143.44% Cost of sales 1,929,736 440,454 1,489,282 338.12% Gross profit 589,604 594,445 (4,841) -0.81% EBITDA * 770,195 801,160 (30,965) -3.87% Profit before tax 331,118 343,861 (12,743) -3.71% Profit after tax 261,297 264,379 (3,082) -1.17% Core profit after tax 292,850 295,811 (2,961) -1.00% Gross profit margin 23.40% 57.44% -34.04% -59.26% Net profit margin 10.37% 25.55% -15.18% -59.41% Core profit margin 11.62% 28.58% -16.96% -59.34% Extract from Statements of Financial Position Total assets 9,515,405 8,083,300 1,432,105 17.72% Current assets 2,194,419 1,848,842 345,577 18.69% Liquid investments 188,762 72,226 116,536 161.35% Cash and bank balances 1,276,190 1,217,279 58,911 4.84% Total liabilities 5,741,536 4,459,323 1,282,213 28.75% Current liabilities 1,514,321 1,318,707 195,614 14.83% Loans and borrowings 3,830,403 3,149,730 680,673 21.61% Total equity 3,773,869 3,623,977 149,892 4.14% Extract from Statements of Cash Flow Net cash flows generated from operating activities 917,426 647,233 270,193 41.75% Net cash flows used in investing activities (1,234,675) (730,874) (503,801) 68.93% Net cash flows generated from financing activities 477,189 507,168 (29,979) -5.91% FYE 2020 FYE 2019 Change Financial Indicators % Return on equity 6.92% 7.30% -0.38% -5.21% Current ratio (times) 1.45 1.40 0.05 3.57% Gearing ratio (times) 1.01 0.87 0.14 16.09% Net gearing ratio (times) 0.63 0.51 0.12 23.53% Net debt/EBITDA ratio (times) 3.07 2.32 0.75 32.33% * Earnings Before Interest, Tax, Depreciation & Amortisation