Banyan Tree (B58) investor relations material

Executive summary

• 1H26 revenue rose 14% YoY to S$235.2m; operating profit increased 30% to S$56.2m, supported by stronger Residences revenue recognition.

• PATMI rose 51% YoY to S$13.6m; core operating profit increased 38% to S$54.2m from S$39.4m.

Financial highlights

• Revenue increased S$29.1m YoY to S$235.2m; total costs and expenses rose S$14.3m to S$181.0m, mainly on higher property sales activity and cost of properties sold.

• Profit after tax rose 47% to S$16.9m; higher operating profit and lower net finance costs were partly offset by higher depreciation and tax and lower associate results.

• Other income fell to S$2.0m from S$3.9m, mainly due to the absence of prior-year fair value and bargain-purchase gains; 1H26 included S$1.2m of earthquake-related insurance compensation.

Outlook and guidance

• Residences net sales rose 38% YoY; S$610.8m of unrecognised revenue supports future earnings visibility, subject to project progress, completion milestones and market conditions.

• Up to US$1bn of luxury residential projects in Phuket is anticipated over the next 2–3 years; disciplined, selective expansion and operational consistency remain priorities.

• Further openings include Ubuyu, Banyan Tree Mount Emei and planned properties in China, Indonesia and Vietnam.