OUE REIT lifts 2H 2025 DPU 10.6% to 1.25 cents on stronger core performance and lower finance costs
Summary:
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2H 2025 DPU rose 10.6% year-on-year to 1.25 cents, with core DPU (ex‑capital distribution) up 15.7% on resilient operating performance and proactive capital management in a declining rate environment.
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2H 2025 revenue and NPI slipped 4.2% and 2.3% respectively to S$142.5 million and S$114.2 million, mainly due to the absence of contributions from divested Lippo Plaza Shanghai, but like-for-like revenue and NPI grew 2.9% and 5.2%.
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Finance costs for 2H 2025 fell 18.0% year-on-year to S$42.5 million, helping lift the amount to be distributed for the period by 11.4% to S$69.4 million.
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For FY 2025, OUE REIT will distribute S$123.8 million, translating to DPU of 2.23 cents and a 6.2% yield based on the year-end unit price of S$0.360, with property valuations down a modest 1.2% to S$5.08 billion and NAV per unit at S$0.56.
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Aggregate leverage declined to 38.5% and weighted average cost of debt eased to 3.9%, supported by an October 2025 issue of S$150 million 7‑year green notes at 2.75% which extended average debt tenor to 3.3 years.