AIMS APAC REIT (O5RU) H1 2027 earnings summary

Executive summary

• 1H FY2027 gross revenue rose 8.5% YoY to S$101.648m, NPI increased 11.1% to S$75.921m, and DPU grew 4.0% to 4.908 Singapore cents.

• Results benefited from acquisitions, completed asset enhancement initiatives, lower property expenses and positive rental reversions.

• Total return after tax increased 15.7% to S$54.531m; net income rose 16.9% to S$58.751m.

Financial highlights

• Gross revenue was S$101.648m versus S$93.703m; NPI was S$75.921m versus S$68.358m, with NPI margin improving to 74.7% from 73.0%.

• Distributions to Unitholders rose 4.9% to S$40.459m; H1 DPU increased to 4.908 Singapore cents from 4.720 cents.

• Total return before tax rose 19.0% to S$56.694m; after-tax return increased 15.7% to S$54.531m.

• Net income increased 16.9% to S$58.751m; basic and diluted EPU were both 4.96 cents versus 4.27 cents.

• Units in issue and to be issued rose 0.9% YoY to 824.697m.

Outlook and guidance

• Selective acquisition opportunities remain under review, prioritising accretive assets aligned with portfolio strategy and resilience.

• Strategic priorities include stable rental income, asset enhancement and development, acquisitions, and data-centre optionality.

• Demand for well-connected Australian industrial assets is expected to remain resilient; more than half of portfolio lease expiries extend beyond FY2030.

• A 2.571-cent distribution for 1 July–30 September 2026 was declared, comprising 2.411 cents taxable income and 0.160 cents capital distribution; payment is scheduled for 11 December 2026.