Landmark REIT (D5IU) Q3 2026 earnings summary

Executive summary

• 3Q26 performance grew in IDR terms as rental revenue and occupancy rose; SGD results declined amid 8.1% IDR depreciation against SGD.

• Portfolio occupancy was 86.1% at 30 Sep 2026, above the 77.7% industry average.

Financial highlights

• 3Q26 rental revenue was S$27.265m, down 1.4% YoY; IDR380,304m, up 8.0% YoY.

• 3Q26 gross revenue was S$50.294m, down 2.4% YoY; IDR701,323m, up 6.9% YoY.

• 3Q26 NPI was S$30.511m, down 1.8% YoY; IDR425,230m, up 7.6% YoY.

Outlook and guidance

• Focus remains on stable operations and targeted AEIs to improve mall attractiveness, sustain shopper traffic and support tenant sales.

• Manager intends to resume Unitholder distributions in FY2027, subject to improved financial position and cash flow and resumed perpetual security distributions; this is not a commitment.

• Distribution timing, frequency and amount depend on operating performance, FX movements, capex, debt service, funding needs and market conditions.