GuocoLand (F17) investor relations material

Executive summary

• FY2026 revenue fell 25% to S$1,434.0m; underlying operating profit was S$367.2m, down 2%, excluding a S$207.2m China development loss allowance.

• Property Investment revenue rose 4% to S$292.5m; more than S$3b in sold residential value remains to be recognised as construction progresses.

• Proposed final dividend increased to 8 Singapore cents per share from 7 cents for FY2025.

Financial highlights

• Revenue was S$1,434.0m versus S$1,916.4m; operating profit was S$125.0m versus S$298.8m, and PBT was S$111.2m versus S$172.6m.

• Profit attributable to equity holders fell 11% to S$95.2m; basic EPS was 7.36 cents versus 8.43 cents.

• Underlying operating profit was S$367.2m versus S$376.5m, including associates/JVs and excluding the China development loss allowance.

• Share of associates/JVs profit was S$32.4m; proportionate revenue from Singapore equity-accounted projects rose to S$391m from S$211m.

Outlook and guidance

• Substantially sold Singapore residential projects are expected to contribute progressively as construction advances and revenue is recognised.

• Lentor Central, with potential for 553 units, is expected to launch in 1H 2027; Lentor Modern mall leases are commencing progressively.

• Near-term growth and investment focus remains on Singapore; Malaysia and China opportunities will be assessed as conditions evolve.

• China’s near-term residential outlook remains challenging; Chongqing residential assets are being monetised while longer-term opportunities are evaluated selectively.