Financial Performance - The audited revenue for the year ended December 31, 2021, was approximately SGD 71.6 million, a decrease of about SGD 1.0 million or 1.4% compared to SGD 72.6 million for the year ended December 31, 2020[3]. - The audited profit after tax for the year ended December 31, 2021, was approximately SGD 5.1 million, a decrease of about SGD 3.7 million or 41.9% compared to SGD 8.8 million for the year ended December 31, 2020[3]. - Basic and diluted earnings per share for the year ended December 31, 2021, were SGD 0.0026, compared to SGD 0.005 for the year ended December 31, 2020[3]. - Total comprehensive income for the year ended December 31, 2021, was SGD 5.1 million, compared to SGD 8.8 million for the year ended December 31, 2020[6]. - The company's operating profit for the year ended December 31, 2021, was SGD 6.1 million, down from SGD 9.6 million for the year ended December 31, 2020[6]. - The net profit attributable to the company's owners for 2021 was 5,145 thousand SGD, a decrease of 41.5% compared to 8,798 thousand SGD in 2020[47]. - Basic and diluted earnings per share for 2021 were 0.26 SGD, down from 0.50 SGD in 2020, indicating a decline of 48%[47]. - The net profit for the year ended December 31, 2021, was approximately SGD 5.1 million, a decrease of about 41.9% compared to SGD 8.8 million for the year ended December 31, 2020[81]. Dividends - The board proposed a final dividend of SGD 0.00075 per share for the year ended December 31, 2021[4]. - The company declared a final dividend of 0.00075 SGD per ordinary share for the year ended December 31, 2021, compared to 0.0015 SGD in 2020, a reduction of 50%[52]. Assets and Liabilities - Total assets as of December 31, 2021, were SGD 56.5 million, an increase from SGD 50.2 million as of December 31, 2020[12]. - Total equity attributable to owners of the company as of December 31, 2021, was SGD 37.7 million, compared to SGD 32.6 million as of December 31, 2020[12]. - The company’s cash and cash equivalents as of December 31, 2021, were SGD 31.0 million, an increase from SGD 20.1 million as of December 31, 2020[12]. - The company’s total liabilities as of December 31, 2021, were SGD 18.8 million, compared to SGD 17.6 million as of December 31, 2020[14]. - As of December 31, 2021, the group's current assets were approximately SGD 51.6 million, with cash and cash equivalents of about SGD 31.0 million[83]. Revenue and Expenses - The group's revenue for 2021 was 71,605 thousand SGD, a decrease of 1.4% from 72,611 thousand SGD in 2020[26]. - Revenue from Singapore was 70,347 thousand SGD in 2021, down from 71,144 thousand SGD in 2020, representing a decline of 1.1%[29]. - Total expenses for 2021 were 65,669 thousand SGD, an increase from 62,946 thousand SGD in 2020, representing a rise of 4.3%[49]. - The cost of sales for the year ended December 31, 2021, was approximately SGD 57.2 million, an increase of about 13.3% from approximately SGD 50.5 million for the year ended December 31, 2020[76]. - Gross profit decreased from approximately SGD 22.2 million for the year ended December 31, 2020, to approximately SGD 14.5 million for the year ended December 31, 2021, with a gross margin decline from 30.5% to 20.2%[77]. Employee and Administrative Expenses - Employee benefits expenses increased to 47,541 thousand SGD in 2021, up from 41,897 thousand SGD in 2020, reflecting a rise of 13.5%[40]. - The administrative and listing expenses decreased from approximately SGD 12.5 million for the year ended December 31, 2020, to approximately SGD 8.5 million for the year ended December 31, 2021[78]. - The company maintained approximately 2,475 employees as of December 31, 2021, a decrease from 2,553 employees in the previous year[95]. Credit and Receivables - Trade receivables decreased from 13,292,000 SGD in 2020 to 11,095,000 SGD in 2021, a decline of approximately 16.6%[53]. - Expected credit loss provision reduced significantly from 445,000 SGD in 2020 to 170,000 SGD in 2021, representing a decrease of about 61.8%[54]. - Total trade and other receivables decreased from 23,151,000 SGD in 2020 to 20,611,000 SGD in 2021, a reduction of approximately 11.0%[53]. - The aging analysis of trade receivables showed that amounts overdue by more than 120 days decreased from 1,880,000 SGD in 2020 to 556,000 SGD in 2021, a decline of about 70.4%[54]. - The group confirmed expected credit loss provision of 170,000 SGD for the year ended December 31, 2021, compared to 445,000 SGD in the previous year, indicating improved credit quality[54]. Government Support and Grants - Deferred government grant income was recorded as zero in 2021, down from 1,361,000 SGD in 2020, indicating a significant change in government support[60]. - The group received government subsidies related to the job support scheme, which were recognized in the financial statements for the year ended December 31, 2021[57]. - The group received a total of approximately SGD 2.1 million in one-time government subsidies for the year ended December 31, 2021, down from SGD 9.8 million for the year ended December 31, 2020[77]. Corporate Governance and Compliance - The audit committee confirmed compliance with applicable accounting principles and standards for the financial year ending December 31, 2021[100]. - The company has adopted a corporate governance code to ensure transparency and accountability to shareholders[98]. - The company has not engaged in the purchase, sale, or redemption of its listed securities during the financial year ending December 31, 2021[104]. - The company has maintained the required public float as per listing rules as of the announcement date[105]. Future Outlook - The company expects that the application of new and revised International Financial Reporting Standards will not have a significant impact on the consolidated financial statements in the foreseeable future[22]. - The group has not applied certain new and revised International Financial Reporting Standards that have been issued but are not yet effective, which may affect future financial reporting[21]. - The group aims to continue establishing and enhancing its market position in the environmental services industry in 2022[73].
HYGIEIAGROUP(01650) - 2021 Q4 - 年度财报