CapitaLand Investment
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CapitaLand Investment (9CI) investor relations material

CapitaLand Investment Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary11 Feb, 2026

Executive summary

  • Achieved 6% year-on-year growth in core operating profit, reversing a multi-year decline and signaling a positive inflection point.

  • Funds under management (FUM) reached S$125B, up 7% year-on-year, driven by organic growth, record fundraising, and strategic investments in SCCP and Wingate.

  • Transitioned further to an asset-light model, with significant divestments, especially in China, and increased focus on recurring fee income.

  • Maintained a stable dividend of S$0.12 per share, supported by robust operating cash flow exceeding S$900 million.

  • Digital and AI-driven initiatives delivered over S$12M in incremental revenue and over S$5M in cost savings.

Financial highlights

  • Core operating profit reached S$539 million, up 6% year-on-year, driven by listed funds and private fund growth.

  • Fee income grew 6%, with private funds up 24% and listed funds up 8%; commercial management margins improved.

  • Portfolio gains fell 80% due to fewer large divestments and higher China losses; China asset sales were at a 13% average discount to book value.

  • China asset revaluations down S$545 million, offset by gains in Singapore and India.

  • Interest costs declined from 4.4% to 3.9%, with further modest savings expected.

Outlook and guidance

  • Targeting S$200B FUM by FY2028, with continued organic growth, new REIT listings, and scaling third-party capital.

  • Expecting continued mid-single-digit growth in core operating profit and double-digit fund management revenue growth.

  • Targeting accelerated China divestments and further reduction in balance sheet exposure.

  • Lodging business expected to reach S$500 million in fee income as new signings open, with EBITDA margin targeted above 30% by 2028–2029.

  • Growth acceleration to be supported by available debt headroom and disciplined capital deployment.

Given M&A focus, what specific ROE targets guide deal selection?
Assess China's asset value stability for next 12 months
Detail private funds' FUM growth drivers for 2026
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Frequently asked questions

CapitaLand Investment Limited is a Singapore-based real estate investment management company focused on managing and developing a diverse portfolio of assets across residential, retail, office, and hospitality sectors. The company operates in key markets globally, including Asia, Europe, and North America, offering property management, investment, and fund management services to institutional and retail investors. The company is headquartered in Singapore, and its shares are listed on the Singapore Exchange.

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