LHN (41O) Q3 2025 earnings summary

Executive summary

• Industrial, commercial and Coliwoo occupancy reached 97.9%, 92.7% and 97.2%, respectively, as at 30 June 2025; excludes JV properties and sites under progressive handover.

• Coliwoo managed 2,960 Singapore rooms; the broader portfolio totaled 3,289 rooms, including 329 overseas rooms, with 776 under renovation.

• Space optimisation, facilities management, parking and energy operations remained active, with expansion across facilities and contracts.

Segment performance

• Space Optimisation managed over 330,000 sqft of commercial and over 1.8 million sqft of industrial properties; renewed master leases at Depot Lane and Woodlands Mandai Estate.

• Work + Store launched its first climate-controlled facility at 202 Kallang Bahru and added 168 air-conditioned units at Ang Mo Kio; managed unit area exceeded 300,000 sq ft.

• Coliwoo Hotel Kampong Glam began operations; a new master lease at 159 Jalan Loyang Besar added 382 rooms.

• Facilities Management secured 17 new and renewed 9 contracts in 3QFY2025; ICFM served 126 clients, up from 115 year over year.

• Parking operations covered 100 car parks and over 27,000 lots; Energy had 19 EV charging points and a 9.6 MW solar portfolio as at 30 June 2025.

Outlook and guidance

• Target to add at least 800 rooms annually through master leases or selective acquisitions while moving toward an asset-light AUM model.

• Residential pipeline: 62 rooms at 260 Upper Bukit Timah Road in 4QFY2025; 212 at 141 Middle Road in 2QFY2026; 382 at 159 Jalan Loyang Besar in 3QFY2026; 120 at 50 Armenian Street in 1QFY2028.

• Three new car park contracts began in August 2025, adding 844 lots; another site was expected to start in October.

• Solar capacity was 9.6 MW as at 30 June 2025; plans include using open-space car parks and other non-rooftop surfaces for generation.

• A 54,283 sqft industrial master lease at 6A Jalan Papan began in July 2025 for three years, with an option to renew.