ESR-Reit 9M distributable income up 6.8% at S$134.6 million
Net property income rises 28.6% on the year to S$247.8 million, from S$192.7 million
[SINGAPORE] The manager of ESR Real Estate Investment Trust (ESR-Reit) posted a distributable income of S$134.6 million for the nine months of FY2025 ended Sep 30. This was 6.8 per cent higher than the S$126 million in the previous corresponding period.
The improvements were mainly due to the acquisitions of 100 per cent of trust beneficiary interest in ESR Yatomi Kisosaki Distribution Centre, and of a 51 per cent stake in 20 Tuas South Avenue 14, completed in November 2024, the manager said on Wednesday (Oct 29).
However, this was partially offset by additional funding drawn to finance the acquisitions and lower capital gains distribution compared with the year-ago period.
For the nine months, net property income (NPI) stood at S$247.8 million, up 28.6 per cent from S$192.7 million in the same period in 2024.
This came amid higher NPI contributions from existing properties and the completion of asset enhancement initiatives for 7002 Ang Mo Kio Avenue 5 in the third quarter of 2023 and for 21B Senoko Loop in the first quarter of 2024.
Revenue for the nine-month period stood at S$334.5 million, up 22.7 per cent from the previous corresponding period.
Units of ESR-Reit closed on Tuesday 0.7 per cent or S$0.02 higher at S$2.89, before the news.
