Mapletree reports 6.2% y-o-y rise in net profits to $1.96 billion
Throughout the FY, Mapletree got US$ 2 billion from exclusive funds, with the effective syndication of Mapletree US Income Commercial Trust (MUSIC), a US$ 552 million office fund in the US, and Mapletree US Logistics Private Trust (MUSLOG), a US$ 1.4 billion logistics fund likewise in the US. In relations to financing recycling, the group unloaded $946 numerous logistics properties to Mapletree Logistics Trust.
Possessions under management increased by $12.4 billion to $78.7 billion. Income rose 4.6% y-o-y to $2,861.1 million in FY2022. Group Ebit and also joint investings developed by 9.5% to $2,040.1 million, mainly as a result of its four Singapore-listed REITs as well as contributions from new acquisitions in the United States and Europe. ROE preserved at above 10%.
Mapletree Investments revealed a 6.2% y-o-y growth in net revenue to $1.96 billion for the year to March 31, its FY2022, consisting of $1.1 billion in residential property revaluation gains. Omitting revaluation gains, recurring earnings rose 27.9% y-o-y to $810.2 million.
In FY2022, Mapletree expanded its student room portfolio with several purchases in the UK as well as United States. As at March 31, the group’s student rental portfolio sums up 57 properties with over 24,000 beds throughout 38 cities in Canada, the UK and the US. Mapletree also made a number of critical procurements of building estates in the United States, China and Japan, at a total negotiable value of about $704 million.
As at March 31, 2022, the group’s cash reserves stood at $2,070.4 million and also its debt to equity ratio decreased by 2.2 percent points to 58.3%. Shareholder’s funds have additionally raised by 10.5% y-o-y to $19,519.9 million, mainly because of greater Patmi in FY2022.
Mapletree had 2 great M&A s. Unitholders of Mapletree Commercial Trust (MCT) as well as Mapletree North Asia Commercial Trust (MNACT) elected extremely for the scheme of arrangement, and MCT unitholders additionally voted in favour of the modification in payment structure. In other places, Mapletree was part of a consortium, Cuscaden Optimal, that acquired Singapore Press Holdings.
On top of that, Mapletree strengthened its worldwide logistics footprint with its initial logistics land purchase in India, a 49.7-acre site in Hoskote, Bengalaru with an advancement capacity of 107,941 square metres in total GFA. The group likewise increased its international logistics AUM with 2 portfolio procurements in the United States at around US$ 3 billion ($4 billion).