Mapletree reports 6.2% y-o-y rise in net profits to $1.96 billion
Properties under control increased by $12.4 billion to $78.7 billion. Profits went up 4.6% y-o-y to $2,861.1 million in FY2022. Group Ebit as well as joint ventures rose by 9.5% to $2,040.1 million, primarily due to its 4 Singapore-listed REITs as well as contributions from new purchases in the US as well as Europe. ROE preserved at above 10%.
Mapletree had 2 effective M&A s. Unitholders of Mapletree Commercial Trust (MCT) as well as Mapletree North Asia Commercial Trust (MNACT) recommended overwhelmingly for the program of arrangement, as well as MCT unitholders also voted in favour of the change in premium structure. Elsewhere, Mapletree became part of a consortium, Cuscaden Top, that received Singapore Press Holdings.
As at March 31, 2022, the group’s funds reserves stood at $2,070.4 million and also its unpaid debt to equity ratio minimized by 2.2 percentage points to 58.3%. Shareholder’s funds have even expanded by 10.5% y-o-y to $19,519.9 million, mainly due to greater Patmi in FY2022.
Furthermore, Mapletree improved its global logistics impact with its initial logistics land procurement in India, a 49.7-acre spot in Hoskote, Bengalaru with a development capability of 107,941 square metres in total GFA. The group additionally expanded its international logistics AUM with 2 portfolio procurements in the United States at around US$ 3 billion ($4 billion).
In FY2022, Mapletree widened its student room portfolio with a number of buys in the UK and United States. As at March 31, the group’s school room portfolio sums up 57 properties with over 24,000 beds throughout 38 cities in Canada, the UK and also the US. Mapletree additionally made a number of critical purchases of office assets in the United States, China as well as Japan, at an entire negotiable market value of roughly $704 million.
Mapletree Investments revealed a 6.2% y-o-y rise in net profit to $1.96 billion for the one year to March 31, its FY2022, including $1.1 billion in building revaluation gains. Excluding revaluation increases, reoccuring revenues increased 27.9% y-o-y to $810.2 million.
During the FY, Mapletree boosted US$ 2 billion from private funds, with the profitable syndication of Mapletree US Income Commercial Trust (MUSIC), a US$ 552 million workplace fund in the US, and also Mapletree US Logistics Private Trust (MUSLOG), a US$ 1.4 billion logistics fund additionally in the US. In terms of financing recycling, the group lost $946 many logistics assets to Mapletree Logistics Trust.