• Keppel average gross margin for 2019 was 30.8%, a 1.05% decline from 2018.
• Keppel average gross margin for 2018 was 30.48%, a 13.43% increase from 2017.
• Keppel average gross margin for 2017 was 35.21%, a 0.57% decline from 2016.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.