Yinson Annual Report 2020

59 Annual Report 2020 PATAMI It is the Group’s strategy to invite strategic partners to participate in our projects to maximise shareholder value whilst maintaining operational control. Thus, shareholders should refer to PATAMI to determine the amount of profit attributable to them. Reduction in PATAMI was visible in FYE 2019 when a Japanese consortium led by Sumitomo took up a 26% stake in FPSO JAK for a consideration of USD117 million. The Group recorded lower PATAMI and Core PATAMI in FYE 2020 of RM209.91 million and RM241.46 million respectively due to the full year effect of FPSO JAK’s profit generation after attribution to the Japanese consortium in accordance to their stake in the project. EPS of the Group computed based on PATAMI reflected similar trends to the aforementioned. Profit after tax and minority interest (“PATAMI”) PATAMI (RM’000) 209,909 234,896 292,179 197,048 224,663 FYE 2020 FYE 2019 FYE 2018 FYE 2017 FYE 2016 Core PATAMI (RM’000) 241,462 266,328 345,861 231,662 173,609 FYE 2020 FYE 2019 FYE 2018 FYE 2017 FYE 2016 Basic earnings per share (“EPS”) (sen) 19.24 21.43 26.85 18.07 21.05 FYE 2020 FYE 2019 FYE 2018 FYE 2017 FYE 2016 Nevertheless, the strong operation management of our other assets and the successful deployment of FPSO Helang in Q4 kept the Group’s PAT stable at RM261.30 million for FYE 2020 – a mere drop of 1.17% against the previous financial year. The Group’s results are often crowded by financial elements which the Management classifies as non-core financial items to be excluded in calculating its Core Adjusted EBITDA and Core PAT. Core results are more reflective of Yinson’s actual business operations performance during the year. Likewise, Adjusted Core EBITDA and Core PAT achieved for the past two financial years have been stable with the Group recording RM865.36 million and RM292.85 million respectively for FYE 2020. Reported & Core Profit After Tax charts (pg 57)