Landmark REIT (D5IU) AGM 2026 presentation summary

Financial performance highlights

• Rental revenue increased by 2.5% to S$110.85 million in FY25, with gross revenue up 5.4% to S$205.01 million, reflecting higher asset contributions.

• Net property income rose 4.5% to S$120.91 million, supported by improved operational metrics.

• Average exchange rate for FY25 was SGD1.00 to IDR12,595.60, compared to SGD1.00 to IDR11,854.02 in FY24.

Operational summary

• Portfolio occupancy improved to 86.5% in FY25 from 81.2% in FY24, with 3,092 tenants.

• Portfolio valuation remained stable at Rp 18,578.6 billion.

• Weighted average lease expiry (WALE) by NLA was 2.9 years, with average rental reversion at 4.7%.

• Shopper traffic increased to 132.0 million, up from 125.9 million in FY24.

Capital management and debt profile

• Rights issue raised S$63.0 million, with S$34.19 million used to repay loans and S$0.91 million for working capital.

• 2026 Notes fully redeemed in February 2026; transitioned to IDR-denominated capital structure for natural hedging.

• Leverage ratio improved to 43.54% and interest coverage ratio to 2.01 as of 31 December 2025.

• Total debt stood at S$649.1 million with a weighted average maturity of 5.73 years; cessation of distributions on perpetual securities continued.