Mapletree reports 6.2% y-o-y rise in net profits to $1.96 billion
Mapletree Investments introduced a 6.2% y-o-y rise in net profit to $1.96 billion for the year to March 31, its FY2022, consisting of $1.1 billion in property revaluation gains. Excluding revaluation increases, persisting earnings went up 27.9% y-o-y to $810.2 million.
Mapletree had 2 outstanding M&A s. Unitholders of Mapletree Commercial Trust (MCT) and Mapletree North Asia Commercial Trust (MNACT) voted overwhelmingly for the scheme of arrangement, and MCT unitholders also voted in favour of the update in fee structure. Elsewhere, Mapletree became part of a consortium, Cuscaden Top, that acquired Singapore Press Holdings.
In FY2022, Mapletree developed its student lodging profile with several buys in the UK and also US. As at March 31, the group’s student rental portfolio sums up 57 assets with over 24,000 beds around 38 cities in Canada, the UK and the US. Mapletree additionally made a number of vital acquisitions of office assets in the United States, China and Japan, at an overall negotiable market value of approximately $704 million.
Additionally, Mapletree increased its global logistics footprint with its initial logistics land buy in India, a 49.7-acre site in Hoskote, Bengalaru with an advancement capacity of 107,941 square metres in entire GFA. The group also expanded its overseas logistics AUM with two portfolio procurements in the US at roughly US$ 3 billion ($4 billion).
Possessions under supervision went up by $12.4 billion to $78.7 billion. Income increased 4.6% y-o-y to $2,861.1 million in FY2022. Group Ebit and shared projects developed by 9.5% to $2,040.1 million, primarily because of its four Singapore-listed REITs and also payments from latest purchases in the US as well as Europe. ROE managed at over 10%.
As at March 31, 2022, the group’s cash reserves ranked at $2,070.4 million and also its liability to equity ratio lowered by 2.2 percent indicate 58.3%. Shareholder’s funds have also boosted by 10.5% y-o-y to $19,519.9 million, primarily because of greater Patmi in FY2022.
During the FY, Mapletree built up US$ 2 billion from exclusive funds, with the profitable syndication of Mapletree US Income Commercial Trust (MUSIC), a US$ 552 million office fund in the US, and Mapletree US Logistics Private Trust (MUSLOG), a US$ 1.4 billion logistics fund additionally in the United States. In regards to capital recycling, the group divested $946 many logistics investments to Mapletree Logistics Trust.