CapitaLand Ascott Trust lifts FY2025 income available for distribution 11% to S$256.7m, holds DPS at 6.10 cents with 6.4% yield
Summary:
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Income available for distribution rose 11% year-on-year to S$256.7 million in FY2025, driven by higher gross profit from stronger operating performance, portfolio reconstitution and higher non-periodic items.
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Total distribution was S$233.5 million after retaining S$23.2 million of non-periodic gains to fund AEIs and working capital, keeping full-year DPS flat at 6.10 cents and implying a 6.4% yield on the 31 December 2025 closing price of S$0.955.
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FY2025 revenue and gross profit grew 3% and 4% respectively, while REVPAU increased 3% to S$161 for the year and 2% to S$180 in 4Q2025 on higher occupancy.
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CLAS completed about S$300 million of divestments at a significant premium to book, unlocking over S$50 million in net gains, and redeployed more than S$210 million into accretive acquisitions including two hotels and three Japanese rental housing properties with over 95% occupancy.
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Gearing improved to 37.7% with average cost of debt at 2.9%, 78% of borrowings on fixed rates and interest cover at 3.0 times, positioning CLAS to pursue AEIs and further growth while sustaining stable distributions.