Group Financials
Group Income Statements
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In 2018, Temasek adopted the International Financial Reporting Standards (IFRS), in line with Singapore's convergence with IFRS. This included the adoption of IFRS 9: Financial Instruments in 2018 and IFRS 16: Leases in 2019. You can find out more information here.
For the year ended 31 March 2023, Temasek Group recorded a Group net loss of S$7.3 billion, due to unrealised mark to market (MTM) losses of sub-20% investments of S$22.0 billion. Excluding the unrealised MTM losses, Temasek Group’s operating profit was S$14.7 billion, which reflects the profitability of Temasek and our portfolio companies.
| (From 2002 to 2023) | In S$ billion |
|---|
| For year ended 31 March On 1 April 2018, the Group adopted International Financial Reporting Standards (IFRS). The Group also adopted new and amended IFRS and Interpretations of IFRS that were mandatory for application for the financial year ended 31 March 2019, which included IFRS 1: First-time adoption of IFRS, IFRS 9: Financial Instruments, and IFRS 15: Revenue from Contracts with Customers. Changes in accounting policies as a result of IFRS 1 and IFRS 15 were applied retrospectively to the Group financial statements for the year ended 31 March 2018. The effects of adoption of IFRS 9 were recognised in the shareholder equity as at 1 April 2018. Comparative financial statements for the years ended 31 March 2002 to 2017 were prepared based on Singapore Financial Reporting Standards. |
|---|
| Revenue |
| Cost of sales |
| Gross profit |
| Other income, net |
| Expenses: |
| Selling & Distribution |
| Administrative |
| Finance |
| Other expenses |
| Profit/(loss) before share of results of associates, partnerships and joint ventures |
| Share of results of associates and partnerships |
| Share of results of joint ventures |
| Profit/(loss) before income tax |
| Tax expense |
| Profit/(loss) for the year |
| (Profit)/loss attributable to non-controlling interests |
| Group net profit/(loss) |
Additional Information: |
| Group net profit/(loss), including unrealised mark to market losses/(gains) of sub-20% investments |
| Unrealised mark to market losses/(gains) of sub-20% investments |
| Group net profit, excluding unrealised mark to market losses/(gains) of sub-20% investments |
| 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 42.6 | 49.6 | 56.5 | 67.5 | 79.8 | 74.6 | 83.3 | 79.6 | 76.7 | 83.5 | 83.5 | 94.3 | 92.4 | 101.6 | 101.5 | 97.0 | 107.4 | 114.6 | 118.6 | 110.9 | 134.9 | 167.4 |
| (29.3) | (34.6) | (37.7) | (43.8) | (53.3) | (49.3) | (53.3) | (57.5) | (50.7) | (53.0) | (56.3) | (64.5) | (63.7) | (70.4) | (73.3) | (68.6) | (74.7) | (85.0) | (87.4) | (80.5) | (104.2) | (130.4) |
| 13.3 | 15.0 | 18.8 | 23.7 | 26.5 | 25.3 | 30.0 | 22.1 | 26.0 | 30.5 | 27.2 | 29.8 | 28.7 | 31.2 | 28.2 | 28.4 | 32.7 | 29.6 | 31.2 | 30.4 | 30.7 | 37.0 |
| 5.5 | 2.7 | 5.9 | 4.1 | 9.4 | 8.3 | 15.8 | 16.2 | 4.5 | 4.9 | 6.3 | 5.5 | 6.0 | 9.2 | 11.0 | 10.0 | 13.3 | 7.2 | 7.3 | 56.4 | 5.2 | (10.6) |
| (2.6) | (3.3) | (3.6) | (3.9) | (4.1) | (4.3) | (5.2) | (5.0) | (5.3) | (5.8) | (5.6) | (5.2) | (4.7) | (5.0) | (4.4) | (3.7) | (3.3) | (3.4) | (3.5) | (2.4) | (2.7) | (3.4) |
| (4.4) | (5.2) | (5.7) | (7.0) | (8.0) | (8.1) | (8.6) | (8.1) | (8.7) | (7.3) | (8.0) | (8.7) | (8.9) | (9.6) | (8.0) | (8.4) | (8.7) | (8.4) | (8.4) | (11.3) | (9.3) | (10.4) |
| (1.5) | (1.7) | (1.7) | (2.1) | (2.4) | (2.6) | (3.2) | (2.7) | (2.4) | (2.6) | (2.6) | (2.6) | (2.3) | (2.1) | (2.7) | (2.8) | (3.2) | (3.7) | (4.7) | (4.7) | (4.8) | (6.2) |
| (3.2) | (7.6) | (4.2) | (5.0) | (4.9) | (5.1) | (8.7) | (15.3) | (10.0) | (6.2) | (7.1) | (6.7) | (7.5) | (8.1) | (16.0) | (8.9) | (9.5) | (7.4) | (10.5) | (18.8) | (10.9) | (14.1) |
| 7.1 | (0.1) | 9.5 | 9.8 | 16.5 | 13.5 | 20.1 | 7.2 | 4.1 | 13.5 | 10.2 | 12.1 | 11.3 | 15.6 | 8.1 | 14.6 | 21.3 | 13.9 | 11.4 | 49.6 | 8.2 | (7.7) |
| 0.4 | 0.7 | 1.5 | 1.4 | 1.2 | (0.8) | 3.2 | 1.3 | 2.4 | 2.6 | 3.0 | 2.5 | 4.3 | 3.5 | 4.4 | 3.3 | 6.8 | 2.6 | 3.5 | 5.9 | 6.7 | 4.7 |
| – | 0.5 | 0.8 | 1.0 | 1.3 | 1.6 | 2.2 | 1.9 | 2.0 | 1.7 | 1.6 | 1.9 | 1.9 | 2.1 | 2.2 | 2.4 | 2.3 | 2.2 | 0.3 | 1.0 | 3.0 | 2.8 |
| 7.5 | 1.1 | 11.8 | 12.2 | 19.0 | 14.3 | 25.5 | 10.4 | 8.5 | 17.8 | 14.8 | 16.5 | 17.5 | 21.2 | 14.7 | 20.3 | 30.4 | 18.7 | 15.2 | 56.5 | 17.9 | (0.2) |
| (2.0) | (0.3) | (2.1) | (1.8) | (2.5) | (1.3) | (3.0) | (1.3) | (1.7) | (2.0) | (1.4) | (2.0) | (2.3) | (2.5) | (2.1) | (2.6) | (2.8) | (2.8) | (2.9) | (2.3) | (4.2) | (3.3) |
| 5.5 | 0.8 | 9.7 | 10.4 | 16.5 | 13.0 | 22.5 | 9.1 | 6.8 | 15.8 | 13.4 | 14.5 | 15.2 | 18.7 | 12.6 | 17.7 | 27.6 | 15.9 | 12.3 | 54.2 | 13.7 | (3.5) |
| (0.6) | (0.6) | (2.3) | (2.9) | (3.7) | (3.9) | (4.3) | (2.9) | (2.2) | (3.1) | (2.7) | (3.8) | (4.3) | (4.2) | (4.2) | (3.5) | (5.9) | (4.1) | (3.5) | 2.3 | (3.1) | (3.8) |
| 4.9 | 0.2 | 7.4 | 7.5 | 12.8 | 9.1 | 18.2 | 6.2 | 4.6 | 12.7 | 10.7 | 10.7 | 10.9 | 14.5 | 8.4 | 14.2 | 21.7 | 11.8 | 8.8 | 56.5 | 10.6 | (7.3) |
| 11.8 | 8.8 | 56.5 | 10.6 | (7.3) | |||||||||||||||||
| 1.0 | 2.6 | (45.5) | 10.3 | 22.0 | |||||||||||||||||
| 4.9 | 0.2 | 7.4 | 7.5 | 12.8 | 9.1 | 18.2 | 6.2 | 4.6 | 12.7 | 10.7 | 10.7 | 10.9 | 14.5 | 8.4 | 14.2 | 21.7 | 12.8 | 11.4 | 11.0 | 20.9 | 14.7 |
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