Singapore Press Holdings Ltd.

Company Background

Singapore Press Holdings is the country's largest and most influential newspaper and publishing company. SPH was formed in 1984 through a merger of local newspaper and publishing companies. It publishes nine daily newspapers, ranging from general broadsheet and business daily to evening tabloid and free paper, covering all four of the country's official languages. Although print circulation, including The Straits Times, has been declining, the company has focused on developing online versions of its major papers, and the number of paid subscribers for its online news services is growing. Another pillar of its business is property development. SPH Reit, real estate investment trust with shopping malls under its umbrella, was listed in Singapore in July 2013.

SPH is regulated by the Newspaper and Printing Presses Act. In Singapore, shareholdings of larger than 5% are not allowed without a minister's approval, and none of the company's large shareholders hold more than 2% stakes. Special shares called "management shares," which give holders 200 times more voting power than ordinary shares on the appointment and dismissal of directors or any members of staff, are owned mainly by major Singaporean banks, insurance companies and universities. The Singaporean government has strong ties to SPH's management. Current Chairman Lee Boon Yang held many ministerial posts, and CEO Alan Chan is a former high-ranking civil servant.

Business Summary

Singapore Press Holdings Ltd. engages in the publishing, printing, and distributing of newspapers, magazines, and books. It also provides multimedia content and services, and management services to its subsidiaries. The firm operates through the following segments: Media; Retail & Commercial; PBSA; and Others. The Media segment involves the production of content for distribution on print and other media platforms. The Retail & Commercial segment holds, manages, and develops properties in the retail and residential sectors. The PBSA segment holds, manages and develops properties in the student accommodation sector. The Other segment includes the group’s businesses and investments in online classifieds, events and exhibitions, and the new media fund. The company was founded on August 4, 1984 and is headquartered in Singapore.

Financial Highlights

Aug 2021	SGD	USD
Revenue	449.92M	335.09M
Gross Profit	363.52M	270.74M
Operating income	260.52M	194.03M
Income before tax	318.33M	237.08M
Net income	194.38M	144.77M
EBITDA	275.73M	205.36M
Diluted EPS	0.04	0.03
Dividends Per Share	0.06	0.04
Total Assets	8,914.22M	6,627.18M
Total liabilities	4,089.12M	3,040.01M
Total equity	3,629.03M	2,697.96M
Operating cash flow	319.32M	237.82M
	Currency in SGD	Currency in USD

Historical Data

SGD | USD

	Aug 2017	Aug 2018	Aug 2019	Aug 2020	Aug 2021
Revenue	1,032.51M	982.55M	959.25M	420.51M	449.92M
Gross Profit	470.07M	451.67M	455.64M	302.19M	363.52M
Operating income	304.97M	283.25M	257.75M	202.42M	260.52M
Income before tax	431.49M	368.89M	298.28M	-77.19M	318.33M
Net income	350.08M	278.38M	211.52M	-96.21M	194.38M
EBITDA	353.79M	319.59M	293.20M	221.26M	275.73M
Diluted EPS	0.22	0.17	0.13	-0.06	0.04
Dividends Per Share	0.15	0.13	0.12	0.02	0.06
Total Assets	6,110.62M	6,154.20M	7,107.39M	8,849.72M	8,914.22M
Total liabilities	1,887.30M	1,962.77M	2,550.75M	4,350.27M	4,089.12M
Total equity	3,488.39M	3,430.27M	3,488.45M	3,313.52M	3,629.03M
Operating cash flow	305.66M	259.82M	283.81M	161.97M	319.32M

	Aug 2017	Aug 2018	Aug 2019	Aug 2020	Aug 2021
Revenue	740.06M	731.94M	701.99M	303.67M	335.09M
Gross Profit	336.93M	336.47M	333.44M	218.22M	270.74M
Operating income	218.59M	211.00M	188.63M	146.17M	194.03M
Income before tax	309.27M	274.80M	218.28M	-55.74M	237.08M
Net income	250.92M	207.37M	154.79M	-69.47M	144.77M
EBITDA	253.58M	238.07M	214.56M	159.78M	205.36M
Diluted EPS	0.15	0.12	0.09	-0.04	0.03
Dividends Per Share	0.10	0.09	0.08	0.01	0.04
Total Assets	4,499.72M	4,491.95M	5,123.55M	6,509.06M	6,627.18M
Total liabilities	1,389.76M	1,432.63M	1,838.77M	3,199.67M	3,040.01M
Total equity	2,568.77M	2,503.76M	2,514.74M	2,437.12M	2,697.96M
Operating cash flow	219.09M	193.55M	207.69M	116.96M	237.82M

Valuation Measures

Aug 2021
PER	47.20
ROA	2.18%
ROE	5.59%
Operating margin	57.90%
Profit margin	43.20%

Key executives

Chief Executive Officer & Executive Director: Yat Chung Ng
Group Chief Financial Officer: Hwee Song Chua
Chief Technology Officer: Glen Gary Francis
Executive Vice President-Corporate Development: Sung Sung Wu
Chief Product Officer: Gaurav Sachdeva

Shareholders

Dimensional Fund Advisors LP (1.7%)
Norges Bank Investment Management (1.5%)
Lee Foundation (1.4%)
The Vanguard Group, Inc. (1.3%)
CHAN SIEW KIM ALICE (0.6%)
HENG SIEW ENG /SINGAPORE/ (0.3%)
LIM SIEW BENG /SINGAPORE/ (0.3%)
YONG SIEW YOON (0.3%)
Gan Teck Yeow Sdn. Bhd. (0.2%)
Great Eastern Life Assurance Co. Ltd. (0.2%)

Contact Details

Website:http://www.sph.com.sg
Address: 1000 Toa Payoh North, News Centre, Singapore, 318994, Singapore
Phone: +65.6319.6319

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Last Updated on 19 May, 2022