AIMS APAC REIT (O5RU) Q2 2025 earnings summary

Executive summary

• Achieved resilient financial and portfolio performance with a strengthened balance sheet in 1H FY2025, supported by portfolio rejuvenation and growth strategies including asset enhancement initiatives.

• Revenue, net property income, and distributions to unitholders all grew year-over-year, driven by strong rental growth in logistics, warehouse, and industrial segments.

• Portfolio occupancy remained high at 95.0%, with a weighted average lease expiry (WALE) of 5.0 years and committed leases occupancy at 96.7% excluding asset enhancement initiatives and tenant transitions.

• Tenant retention rate improved to 78.6% from 70.1% in the prior year.

• 11 new and 29 renewal leases executed, totaling 82,623 sqm, representing 10.6% of total portfolio NLA.

Financial highlights

• Revenue: S$93.5 million, up 7.7% year-over-year; Net property income: S$67.6 million, up 5.1% year-over-year.

• Distributions to unitholders: S$38.0 million, up 5.0% year-over-year; DPU: 4.670 Singapore cents, up 0.4% year-over-year.

• Portfolio occupancy stood at 95.0% as of 30 September 2024.

• 11 new and 29 renewal leases executed, totaling 82,623 sqm.

Outlook and guidance

• Positive macroeconomic outlook for Singapore, with 4.1% GDP growth in 3Q 2024 and strong manufacturing sector performance.

• Australia expected to benefit from new infrastructure and stable demand, with the RBA holding rates steady amid moderate inflation and the upcoming Brisbane Olympics supporting property demand.

• Strategy focuses on selective investments, active asset management, prudent capital and risk management, and strategic partnerships.

• The new S$400 million and A$150 million Sustainability Linked Loan provides financial flexibility for acquisitions and asset enhancements.