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CapitaLand Investment (9CI) investor relations material
CapitaLand Investment Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Platform scale expanded to S$117B FUM (+17% YoY), targeting S$200B by 2028, with growth in listed and private funds and strategic acquisitions of SCCP (40% stake) and Wingate (100% subsidiary) to strengthen hospitality and private credit verticals.
Capital deployment and equity raised up 1.3x YoY, with focus on lodging, logistics, self-storage, and private credit; robust pipeline for the next 12 months.
Listed funds platform grew to S$71B FUM, with strong investment activity and positive rental reversions, especially in Japan and India.
Lodging business saw robust signings and openings, with RevPAU up 5% YoY, driven by higher occupancy and ADR in key markets.
Ongoing efforts to diversify across core markets: Singapore, China, India, Korea, Australia, and Japan.
Financial highlights
Operating PATMI down 12% YoY due to divestments, lower fund performance, and absence of prior year tax write-back, partially offset by new investments and lower finance costs.
Revenue for 1H 2025 was S$1,040M (down 24% YoY), with fee income-related business accounting for 52% and recurring fee income up 5% YoY.
EBITDA declined 29% YoY to $581M, reflecting lower portfolio gains and loss of contributions from divested assets.
Interest costs and finance costs declined, with further reductions expected as rates fall in key markets.
Net cash from operating activities: $74M (down from $226M YoY).
Outlook and guidance
Confident in stronger second half performance, with anticipated gains from recent M&A, new fund launches, and portfolio divestments.
Progressing toward S$200B FUM by 2028, with organic growth in private credit and potential infrastructure verticals.
Focus on building large thematic funds, capturing synergies from recent acquisitions, and scaling products in APAC, India, and China.
S$50M cost savings targeted via organisational streamlining and AI-driven productivity.
Dividend policy remains at $0.12 per share, with no interim dividend planned; share buybacks deprioritized in favor of growth investments.
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