LHN (41O) Q1 2026 earnings summary

Executive summary

• 1QFY2026 opened with strong occupancy across most properties, including 96.5% at Coliwoo, alongside portfolio expansion and new facilities-management contracts.

• Growth initiatives span space optimisation, co-living, facilities management and energy, with joint-venture acquisitions and a shift toward asset-light operations.

Outlook and guidance

• Targeting 4,000 Coliwoo rooms by end-2026, from 3,200 rooms at 31 Dec 2025.

• Four co-living projects are scheduled to open from 2QFY2026 through 1QFY2028, adding 865 rooms; Coliwoo Midtown (212 rooms) is expected in March 2026 and 159 Loyang Besar (380 rooms) in Q3FY2026.

• 50 Armenian Street is slated for conversion into a 120-room boutique hotel, with operations expected to begin in 2028; 1 King George's Avenue is expected to add an estimated 153 rooms.

• FY2026 plans include adding ~10,000 sqft of air-conditioned storage and expanding Work + Store through acquisitions.

• Roadmap includes wider technology and automation adoption in facilities management, entry into new sectors and strategic M&A; post-quarter contracts cover two solar systems totalling ~0.6 MW.

Segment performance

• Coliwoo operated 3,200 rooms across 27 Singapore locations: 822 owned, 1,853 leased and 525 managed.

• Work + Store had 2,014 storage units across seven facilities, with 295,000 sqft of storage NLA.

• Facilities Management served 119 clients, secured 14 new contracts and renewed 100 in 1QFY2026; air-conditioning and solar-panel maintenance were added services.

• Carpark management covered 105 carparks and ~28,500 lots at quarter-end, after adding two sites and more than 750 lots; Ngee Ann Polytechnic and Ibis Bencoolen operations began 1 Jan 2026, adding over 1,200 lots.

• Energy operations included 10.8 MW of solar capacity and 19 EV charging points at 31 Dec 2025; solar operations and maintenance services were launched.