Mapletree reports 6.2% y-o-y rise in net profits to $1.96 billion
As at March 31, 2022, the group’s revenue reserves ranked at $2,070.4 million and also its unpaid debt to equity ratio minimized by 2.2 percentage points to 58.3%. Investor’s funds have also boosted by 10.5% y-o-y to $19,519.9 million, mostly as a result of better Patmi in FY2022.
Mapletree Investments declared a 6.2% y-o-y growth in net gain to $1.96 billion for the year to March 31, its FY2022, containing $1.1 billion in residential property revaluation gains. Leaving out revaluation profits, recurring profits went up 27.9% y-o-y to $810.2 million.
During the FY, Mapletree got US$ 2 billion from private funds, with the successful 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 terms of funding recycling, the group unloaded $946 million of logistics properties to Mapletree Logistics Trust.
In FY2022, Mapletree widened its student room portfolio with several purchases in the UK and United States. As at March 31, the group’s school rental portfolio consists of 57 possessions with over 24,000 beds throughout 38 cities in Canada, the UK and also the US. Mapletree likewise made many tactical purchases of office assets in the United States, China and Japan, at a whole transactional price of roughly $704 million.
On top of that, Mapletree improved its multinational logistics impact with its initial logistics land acquisition in India, a 49.7-acre spot in Hoskote, Bengalaru with an advancement capability of 107,941 square metres in entire GFA. The group also grew its overseas logistics AUM with two profile purchases in the US at about US$ 3 billion ($4 billion).
Investments under management climbed by $12.4 billion to $78.7 billion. Return grew 4.6% y-o-y to $2,861.1 million in FY2022. Group Ebit as well as joint investings developed by 9.5% to $2,040.1 million, largely due to its 4 Singapore-listed REITs and contributions from recent purchases in the US and also Europe. ROE kept at above 10%.
Mapletree had two successful M&A s. Unitholders of Mapletree Commercial Trust (MCT) and Mapletree North Asia Commercial Trust (MNACT) voted overwhelmingly for the scheme of setup, and also MCT unitholders likewise voted in favour of the improvement in premium system. Anywhere else, Mapletree was part of a consortium, Cuscaden Optimal, that obtained Singapore Press Holdings.