CapitaLand Investment H1 profit down 13% at S$287 million on lower revenue

[SINGAPORE] CapitaLand Investment (CLI) on Thursday (Aug 14) posted a net profit of S$287 million for its first half ended Jun 30, 2025, 13 per cent lower than S$331 million in the year-ago period.

This translated to a basic earnings per share (EPS) of S$0.058, 11 per cent down from a basic EPS of S$0.065 in H1 2024.

Revenue for H1 fell 24 per cent to S$1.04 billion from S$1.37 billion.

The declines were partly due to the deconsolidation of CapitaLand Ascott Trust (Clas) alongside the loss of contributions from divested assets in the US and China. Excluding these effects, revenue would have risen by 7 per cent or S$69 million, amid higher fee income from the fee income-related business and improved performance of lodging properties under the real estate investment business segment, CLI said.

Following CLI’s sale of around 4.9 per cent of its stake in Clas in December 2024, the stapled group is no longer consolidated as a CLI subsidiary and is now accounted as an associate. As a result of the deconsolidation, CLI’s revenue declined by S$322 million and its earnings before interest, taxes, depreciation and amortisation fell by S$161 million.

Cost of sales rose 7 per cent on the year, excluding the impact of the divestments and Clas’ deconsolidation.

For the period, administrative expenses fell to S$222 million from S$231 million, due to higher write-back of listing and restructuring expenses and lower impairment loss on trade receivables. These comprised mainly staff costs, depreciation, amortisation and other expenses.

The company did not declare any dividend for the six-month period, the same as the previous year.

Shares of CLI finished Wednesday 2.5 per cent or S$0.07 higher at S$2.82.