Mapletree reports 6.2% y-o-y rise in net profits to $1.96 billion
As at March 31, 2022, the group’s cash reserves ranked at $2,070.4 million and its debt to equity ratio lessened by 2.2 percentage points to 58.3%. Investor’s funds have even increased by 10.5% y-o-y to $19,519.9 million, mostly as a result of greater Patmi in FY2022.
Mapletree had two outstanding M&A s. Unitholders of Mapletree Commercial Trust (MCT) and Mapletree North Asia Commercial Trust (MNACT) voted overwhelmingly for the plan of arrangement, and MCT unitholders likewise voted in favour of the modification in cost structure. Hence, Mapletree was part of a consortium, Cuscaden Top, that got Singapore Press Holdings.
Additionally, Mapletree reinforced its multinational logistics presence with its very first logistics land procurement in India, a 49.7-acre area in Hoskote, Bengalaru with a development capability of 107,941 square metres in entire GFA. The group likewise expanded its worldwide logistics AUM with 2 portfolio acquisitions in the US at around US$ 3 billion ($4 billion).
Mapletree Investments disclosed a 6.2% y-o-y increase in final revenue to $1.96 billion for the 12 months to March 31, its FY2022, involving $1.1 billion in estate revaluation gains. Excluding revaluation gains, repeating revenues climbed 27.9% y-o-y to $810.2 million.
Throughout the FY, Mapletree raised US$ 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, and also Mapletree US Logistics Private Trust (MUSLOG), a US$ 1.4 billion logistics fund likewise in the United States. In terms of funding recycling, the group divested $946 million of logistics investments to Mapletree Logistics Trust.
Investments under control went up by $12.4 billion to $78.7 billion. Return climbed 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 payments from recent procurements in the US and Europe. ROE kept at above 10%.
In FY2022, Mapletree expanded its student room portfolio with numerous purchases in the UK and also US. As at March 31, the group’s student rental portfolio comprises 57 possessions with over 24,000 beds throughout 38 cities in Canada, the UK as well as the US. Mapletree additionally made multiple vital purchases of building real estates in the US, China and also Japan, at a total negotiable market value of around $704 million.