Yinson Annual Report 2021

92 YINSON HOLDINGS BERHAD SECTION 05 : OUR CAPITALS FINANCIAL CAPITAL PAT AND EBITDA (NON-EPCIC) (RM MILLION) PAT AND EBITDA (EPCIC) (RM MILLION) EPCIC business activities contributed significantly with an increase of RM295 million to record a PAT of RM302 million. FPSO Abigail-Joseph delivered a one-off PAT of RM105 million and FPSO Anna Nery contributed RM197 million through progression of its construction work. FYE 2021 FYE 2020 FYE 2019 FYE 2018 FYE 2017 325 259 317 412 217 Reported PAT FYE 2021 FYE 2020 302 7 Reported PAT FYE 2021 FYE 2020 FYE 2019 FYE 2018 FYE 2017 943 743 821 738 268 Reported EBITDA FYE 2021 FYE 2020 468 7 Reported EBITDA FYE 2021 FYE 2020 FYE 2019 FYE 2018 FYE 2017 528 283 331 399 237 Core PAT FYE 2021 FYE 2020 310 7 Core PAT FYE 2021 FYE 2020 FYE 2019 FYE 2018 FYE 2017 1,079 758 815 717 296 Core EBITDA FYE 2021 FYE 2020 476 7 Core EBITDA Non-EPCIC business activities comprise leasing of vessels and marine-related services, which are areas that the Group has extensive experience and a strong track record. FPSO Abigail-Joseph is Yinson’s newest operating asset, which officially went on charter in October 2020. In FYE 2021, EBITDA and PAT grew by 27% and 25% respectively. Besides the added contribution from FPSO Abigail-Joseph’s lease commencement, the growth is also driven by FPSO Helang completing its first full financial year of operations as well as contributions from charter arrangements of two VLCC tankers during the year. Contribution from VLCC tankers in the coming financial year will be lower as the Group has resolved to retain only one VLCC tanker for prospective projects in our pipeline.