Mapletree reports 6.2% y-o-y rise in net profits to $1.96 billion
Mapletree had two successful M&A s. Unitholders of Mapletree Commercial Trust (MCT) and also Mapletree North Asia Commercial Trust (MNACT) recommended overwhelmingly for the strategy of setup, and also MCT unitholders likewise voted in favour of the change in premium framework. In other places, Mapletree belonged to a consortium, Cuscaden Height, that attained Singapore Press Holdings.
Assets under supervision grew by $12.4 billion to $78.7 billion. Revenue rose 4.6% y-o-y to $2,861.1 million in FY2022. Group Ebit and also shared investings rose by 9.5% to $2,040.1 million, primarily due to its four Singapore-listed REITs and also contributions from new purchases in the US and Europe. ROE sustained at over 10%.
Mapletree Investments disclosed a 6.2% y-o-y increase in net return to $1.96 billion for the year to March 31, its FY2022, including $1.1 billion in property revaluation gains. Omitting revaluation profits, recurring earnings rose 27.9% y-o-y to $810.2 million.
As at March 31, 2022, the group’s cash reserves set at $2,070.4 million and its unpaid debt to equity ratio lessened by 2.2 portion indicate 58.3%. Investor’s funds have even enhanced by 10.5% y-o-y to $19,519.9 million, largely because of higher Patmi in FY2022.
In FY2022, Mapletree broadened its school lodging portfolio with numerous acquisitions in the UK and also US. As at March 31, the group’s student room portfolio sums up 57 properties with over 24,000 beds all over 38 cities in Canada, the UK and the US. Mapletree likewise made several vital purchases of business assets in the United States, China as well as Japan, at a total negotiable value of about $704 million.
Throughout the FY, Mapletree built up US$ 2 billion from exclusive funds, with the profitable syndication of Mapletree US Income Commercial Trust (MUSIC), a US$ 552 million workplace fund in the United States, as well as Mapletree US Logistics Private Trust (MUSLOG), a US$ 1.4 billion logistics fund likewise in the US. In relations to capital recycling, the group divested $946 numerous logistics assets to Mapletree Logistics Trust.
In addition, Mapletree reinforced its overseas logistics presence with its first logistics land acquisition in India, a 49.7-acre location in Hoskote, Bengalaru with an advancement capacity of 107,941 square metres in whole GFA. The group likewise rose its overseas logistics AUM with 2 portfolio acquisitions in the US at approximately US$ 3 billion ($4 billion).