CapitaLand Investment (CLI) has reported a total revenue of $496 million for the 1QFY2025 ended March 31, a 24% y-o-y decline due to the deconsolidation of CapitaLand Ascott Trust(CLAS).
Likewise, revenue for its real estate investment business (REIB) declined 6% y-o-y for 1QFY2025 after adjusting for CLAS deconsolidation, mainly due to the divestment of on-balance sheet assets including 16 USA multifamily assets and Ascendas iHub Suzhou.
Overall, the group's total revenue declined on CLAS deconsolidation, but the higher fee revenue partially offsets the lower REIB revenue.
The group's fee income-related business revenue grew 3% y-o-y to $281 million for the reporting period. Fee income for listed fund management, lodging management and commercial management all grew y-o-y, except private funds management.
CLI's balance sheet assets moving forward has 75% in China, with the rest across Europe, Southeast Asia and India.
The group most recently applied for the listing of CapitaLand Commercial C-REIT (CLCR) in April 2025 - the first international-sponsored China REIT to invest in income-producing retail properties in the PRC.
For the reporting period ended March, the group has an average debt maturity of 3.6 years. Its interest coverage ratio is 3.6 times, and fixed debt rate is 72%.
The group's net debt to equity ratio is 0.39 times. It has $480 million in sustainable financing, $255 million operating cashflow, and $7.4 billion of capital available for deployment.
Shares in CapitaLand Investment closed 7 cents higher or 2.612% up at $2.75 on Apr 30.
