Coliwoo Holdings (W8W) H1 2026 earnings summary

Executive summary

• H1 FY2026 revenue rose 16.6% YoY to S$26.870m; adjusted PATMI increased 13.9% to S$8.621m, with average occupancy at 97.0%.

• Portfolio comprised 3,568 rooms across 28 properties at 31 March 2026; 1,021 rooms were under renovation.

Financial highlights

• Gross profit rose 14.9% to S$19.131m; gross margin declined 1.0 percentage point to 71.2%.

• PATMI increased 43.9% to S$13.444m; profit before tax rose 51.1% to S$17.6m. Net profit increased 69.6% to S$16.2m, including a S$5.9m fair-value gain.

• EPS was 2.80 Singapore cents versus 2.99 cents YoY; NAV per share was 47.32 Singapore cents at 31 March 2026.

• Leased-property rental income rose 19.7% to S$19.144m; owned-property rental income declined 1.5% to S$3.716m. Management-services revenue rose 44.1% to S$2.314m and facilities-services revenue rose 1.1% to S$1.683m.

Outlook and guidance

• Targets include approximately 4,000 rooms in Singapore by end-2026, at least 800 room acquisitions annually over three years, and more than 10,000 rooms by 2030.

• Pipeline launches: 380 rooms at 159 Jalan Loyang Besar in 3Q FY2026; 368 at 2 Changi Business Park Avenue 1 in 1Q FY2027; 153 at 1 King George’s Avenue in 4Q FY2027; 120 at 50 Armenian Street in 1Q FY2028.

• Growth priorities include master leases, management contracts, capital recycling, selective acquisitions and regional gateway cities.

• Most of the 1,021 rooms under renovation were expected to be operational by FY2026.