Link: https://links.sgx.com/1.0.0/corporate-announcements/IJZKGVDO7NMPWB00/525ef11c42aa3735c8153cefb9e0f53ed89e815749a625d186fc05ba855db2fa

Summary:

• Core profit after tax surged 62.6% to S$22.9 million in FY2025 from S$14.1 million despite revenue declining 10.4% to S$46.7 million, driven by improved operational efficiency and gross profit margin expansion to 70.9%

• Portfolio expanded to 2,933 rooms across 25 strategic locations with average occupancy climbing to 96.1% from 92.5%, though 714 rooms currently under renovation are expected operational by FY2026

• Operating cash flow jumped 61.5% to S$24.8 million from S$15.4 million reflecting stronger underlying profitability, while gearing improved significantly to 61.1% from 74.4% and net gearing dropped to 50.9% from 68.4%

• Successfully executed capital recycling strategy with disposal of 115 Geylang Road subsidiary for S$25.8 million to provide working capital and improve liquidity position

• Launched new products in FY2025 including 24-room Coliwoo Hotel Kampong Glam in May and 62-room Coliwoo Bukit Timah Fire Station serviced apartments in October, diversifying beyond core co-living model

• Aggressive expansion pipeline includes 212-room Coliwoo Midtown launching 2Q FY2026, 382-room resort-style facility at Jalan Loyang Besar in 3Q FY2026, and 50:50 joint venture to acquire and convert REHAU Building at 1 King George's Avenue

• Proposed final dividend of 2.0 Singapore cents per share representing 3.5% yield at current share price of 56.5 cents, with net asset value per share at 40.30 cents

• Asset-light growth strategy targets minimum 800 new rooms annually over next three years through master leases and management contracts while actively recycling capital from stabilized assets