AIMS APAC REIT (O5RU) Q4 2025 earnings summary

Executive summary

• FY2025 saw robust operational performance, with distributions to unitholders rising 5.2% year-over-year and DPU up 2.6% to 9.600 Singapore cents, driven by strong rental reversions and portfolio rejuvenation initiatives.

• Portfolio occupancy remained high at 93.6%–95.8%, supported by new long-term leases and asset enhancement initiatives.

• Sustainability progress included solar PV installations (3.65 MWp), EV charging stations, water-efficient fittings, and smart metering systems across multiple properties.

Financial highlights

• Gross revenue reached S$186.6 million, up 5.3% year-over-year; net property income was S$133.7 million, up 2.1%.

• Distributions to unitholders totaled S$78.2 million, up 5.2% year-over-year; DPU was 9.600 Singapore cents, up 2.6%.

• Portfolio valuation declined by 1.5% to S$2.13 billion, mainly due to cap rate expansion and AUD softening, partially offset by higher Singapore valuations.

• Number of units in issue grew 0.7% to 816.6 million.

Outlook and guidance

• Management expects continued resilience from a diversified, high-quality portfolio and strong balance sheet, enabling execution of asset management initiatives and selective acquisitions.

• Singapore industrial spaces remain resilient amid constrained supply and positive rental growth, though growth is expected to moderate.

• Australia’s business parks benefit from infrastructure investment and innovation initiatives, supporting long-term demand.

• Singapore GDP growth forecast for 2025 downgraded to 0.0–2.0% amid global trade policy uncertainty.