Mapletree reports 6.2% y-o-y rise in net profits to $1.96 billion
During the FY, Mapletree built up US$ 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 also Mapletree United States Logistics Private Trust (MUSLOG), a US$ 1.4 billion logistics fund likewise in the United States. In relations to financing recycling, the group divested $946 million of logistics assets to Mapletree Logistics Trust.
Assets under control climbed by $12.4 billion to $78.7 billion. Profits grew 4.6% y-o-y to $2,861.1 million in FY2022. Group Ebit as well as joint ventures increased by 9.5% to $2,040.1 million, largely due to its four Singapore-listed REITs as well as contributions from new purchases in the US and Europe. ROE preserved at above 10%.
In FY2022, Mapletree broadened its student accommodation profile with numerous purchases in the UK as well as US. As at March 31, the group’s school rental portfolio makes up 57 possessions with over 24,000 beds across 38 cities in Canada, the UK and also the United States. Mapletree additionally made multiple vital acquisitions of business assets in the United States, China and Japan, at a total transactional market value of roughly $704 million.
Mapletree Investments disclosed a 6.2% y-o-y surge in net gain to $1.96 billion for the year to March 31, its FY2022, involving $1.1 billion in residential property revaluation gains. Leaving out revaluation profits, recurring earnings grew 27.9% y-o-y to $810.2 million.
As at March 31, 2022, the group’s money reserves ranked at $2,070.4 million and its financial obligation to equity ratio minimized by 2.2 percent indicate 58.3%. Shareholder’s funds have even raised by 10.5% y-o-y to $19,519.9 million, mostly as a result of higher Patmi in FY2022.
Mapletree had two successful M&A s. Unitholders of Mapletree Commercial Trust (MCT) as well as Mapletree North Asia Commercial Trust (MNACT) elected overwhelmingly for the plan of arrangement, as well as MCT unitholders likewise enacted favour of the modification in cost system. Hence, Mapletree became part of a consortium, Cuscaden Height, that obtained Singapore Press Holdings.
On top of that, Mapletree increased its multinational logistics presence with its initial logistics land acquisition in India, a 49.7-acre location in Hoskote, Bengalaru with a growth possibility of 107,941 square metres in whole GFA. The group also rose its global logistics AUM with 2 portfolio buys in the US at about US$ 3 billion ($4 billion).