Logotype for Link Real Estate Investment Trust

Link Real Estate Investment Trust (823) investor relations material

Link Real Estate Investment Trust H2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Link Real Estate Investment Trust
H2 2025 earnings summary27 May, 2025

Executive summary

  • Delivered solid results with distributable income up 4.6%, DPU up 3.7%, and NPI up 5.5% year-over-year, despite valuation pressures and macroeconomic headwinds in Hong Kong and Mainland China.

  • Maintained a robust financial position with net gearing around 21.2%-21.5%, strong credit ratings, and ample liquidity, supported by a diversified portfolio across Hong Kong, Mainland China, Australia, Singapore, and the UK.

  • Advanced sustainability initiatives, including progress toward a 2035 net-zero target, expanded green building certifications, and enhanced climate risk scenario planning.

  • Continued diversification and operational efficiency, with significant growth in portfolio value and total return since IPO.

  • Strengthened stakeholder trust through transparent reporting, proactive engagement, and robust risk management frameworks.

Financial highlights

  • Revenue rose 4.8% year-over-year to HK$14.2B, NPI reached HK$10.6B (+5.5% YoY), and distributable amount was HK$7.0B (+4.6% YoY).

  • DPU increased 3.7% year-over-year to HK$2.72, with portfolio value at HK$226B and NAV per unit at HK$63.3.

  • Maintained high occupancy rates: Hong Kong retail 97.8%, Mainland China retail 95.9%, Australia retail 99.0%, Singapore retail 99.6%.

  • Average all-in borrowing cost decreased to 3.6%, and total debt was reduced by HK$6.5B.

  • G&A expenses rose 19.5% year-over-year, mainly due to LTI adjustments, legal/consultant fees, and uncapitalized M&A expenses.

Outlook and guidance

  • Market conditions in Hong Kong and Mainland China expected to remain challenging, with negative rental reversions likely to persist in low to mid-single digits.

  • Management remains focused on operational efficiency, cost control, portfolio optimization, and disciplined capital deployment.

  • Continued execution of Link 3.0 strategy and REIM business growth, with no AUM target disclosed for the new fund management business.

  • Committed to the 2035 operational net-zero target, with interim milestones for 2025/2026 and 2030.

  • Ongoing investment in energy efficiency, renewable energy, and climate resilience, aiming for 100% green building certification by 2025/2026.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Link Real Estate Investment Trust earnings date

Logotype for Link Real Estate Investment Trust
H1 20265 Nov, 2025
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Link Real Estate Investment Trust earnings date

Logotype for Link Real Estate Investment Trust
H1 20265 Nov, 2025

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage