Financial Highlights
| Consolidated Statement of Total Return For the Financial Year Ended |
FY2024 S$ million |
FY2023 S$ million |
Change % |
|---|---|---|---|
| Gross Revenue | 301.0 | 288.9 | 4.2 |
| Net Property Income | 224.7 | 215.1 | 4.5 |
| Income Available for Distributions | 181.0 | 135.6 | 33.5 |
| Distribution per Unit (cents) | 6.501 | 5.02 | 29.5 |
| Consolidated Statement of Financial Position | 31 Dec 2024 S$ million |
31 Dec 2023 S$ million |
Change % |
|---|---|---|---|
| Total Assets | 4,314.5 | 4,268.7 | 1.1 |
| Total Liabilities | 1,639.7 | 1,377.5 | 19.0 |
| Borrowings | 1,526.9 | 1,268.7 | 20.4 |
| Unitholder's fund | 2,664.3 | 2,577.6 | 3.4 |
| Number of Units in Issue (million) | 2,839.0 | 2,833.4 | 0.2 |
| Net Asset Value per Unit (S$) | 0.94 | 0.91 | 3.2 |
| Financial Ratios | FY2024 | FY2023 |
|---|---|---|
| Total Annual Distribution Yield (%) | ||
| • Based on closing price2 | 7.391 | 5.67 |
| Gearing Ratio (%) | 35.3 | 29.6 |
| Interest Cover Ratio (times)3 | 3.4 | 3.5 |
| Average All-in-Cost of Debt (% per annum) | 4.40 | 4.30 |
| Average Term to Maturity for Debt (years) | 1.8 | 2.1 |
Note
- Includes Special Distribution of 1.85 cents.
- Based on closing price of S$0.88 per unit on 31 December 2024 (29 December 2023: S$0.885).
- The ratio is calculated by dividing the trailing 12 months EBITDA by the trailing 12 months interest expense (excluding FRS 116 finance expense) in accordance with MAS guidelines.