Mapletree reports 6.2% y-o-y rise in net profits to $1.96 billion
Throughout the FY, Mapletree increased US$ 2 billion from private funds, with the profitable syndication of Mapletree US Income Commercial Trust (MUSIC), a US$ 552 million office fund in the US, and Mapletree United States Logistics Private Trust (MUSLOG), a US$ 1.4 billion logistics fund also in the United States. In relations to funding recycling, the group unloaded $946 many logistics investments to Mapletree Logistics Trust.
Furthermore, Mapletree reinforced its international logistics footprint with its initial logistics land purchase in India, a 49.7-acre place in Hoskote, Bengalaru with a growth possibility of 107,941 square metres in overall GFA. The group additionally increased its overseas logistics AUM with 2 profile buys in the US at approximately US$ 3 billion ($4 billion).
Mapletree had 2 effective M&A s. Unitholders of Mapletree Commercial Trust (MCT) and Mapletree North Asia Commercial Trust (MNACT) elected overwhelmingly for the strategy of plan, and also MCT unitholders additionally voted in favour of the adjustment in payment structure. Elsewhere, Mapletree was part of a consortium, Cuscaden Peak, that acquired Singapore Press Holdings.
As at March 31, 2022, the group’s revenue reserves stood at $2,070.4 million and also its unpaid debt to equity ratio reduced by 2.2 percentage points to 58.3%. Shareholder’s funds have even increased by 10.5% y-o-y to $19,519.9 million, primarily due to higher Patmi in FY2022.
Mapletree Investments declared a 6.2% y-o-y rise in net revenue to $1.96 billion for the one year to March 31, its FY2022, involving $1.1 billion in estate revaluation gains. Omitting revaluation increases, persisting revenues grew 27.9% y-o-y to $810.2 million.
Investments under control grew by $12.4 billion to $78.7 billion. Income went up 4.6% y-o-y to $2,861.1 million in FY2022. Group Ebit and also joint projects grew by 9.5% to $2,040.1 million, mainly due to its four Singapore-listed REITs and payments from recent procurements in the US and Europe. ROE sustained at over 10%.
In FY2022, Mapletree developed its student lodging profile with a number of purchases in the UK and US. As at March 31, the group’s student room portfolio constitutes 57 assets with over 24,000 beds all over 38 cities in Canada, the UK and also the United States. Mapletree likewise made several critical acquisitions of building real estates in the US, China and also Japan, at a complete negotiable worth of approximately $704 million.