Entering text into the input field will update the search result below

Ascendas Real Estate Investment Trust (ACDSF) CEO William Tay on Q2 2022 Results - Earnings Call Transcript

Aug. 03, 2022 12:51 AM ETCapitaLand Ascendas REIT (ACDSF)
SA Transcripts profile picture
SA Transcripts

Ascendas Real Estate Investment Trust (OTCPK:ACDSF) Q2 2022 Earnings Conference Call August 2, 2022 5:30 AM ET

Company Participants

Yeow Kit Peng - Head, Capital Markets & Investor Relations

William Tay - Chief Executive Officer

James Goh - Head of Portfolio Management

Conference Call Participants

Mervin Song - JPMorgan

Nicholas Teh - Credit Suisse AG

Jonathan - UOB Kay Hian

David Lum - Daiwa Securities

Dale Lai - DBS

Yew Kiang - CLSA

Tan Xuan - Goldman

Brandon I. Lee - Citigroup

Joy - HSBC

Yeow Kit Peng

Good evening, everyone. Welcome to Ascendas REIT First-Falf FY’2022 Financial Results Briefing. Okay, we are pleased to report 6.3% growth in distributable income to S$330.7 million and a 2.8% increase in DPU to 7.873 cents. Total investment properties as at June, increased 4.4% to S$16.6 billion. Gearing is healthy at 36.7%. Ascendas REIT has a high level of natural hedge for our overseas investments, which accounts for 40% of our total investment properties, so that was out to be S$6.6 billion. Operationally, portfolio occupancy improved to 94%, leases that were due for renewal during the first half achieved 9.4% positive rental revision.

So let's take a look at the financial performance in detail. Gross revenue increased 13.7% in the first half of 2022 versus the first half of 2021 and this is mainly contributed by new acquisitions in 2021. So that would include Galaxis, which is a Business Park property in Singapore. The 11 data centers in Europe and 11 logistics properties in Kansas City, U.S. MPI increased by a lower 7% due to higher net utilities expenses from the properties in Singapore. Total amount available for distribution increase in tandem with the increase in NPI, all in with a higher number of applicable units, DPU increased 2.8% to 7.87 cents.


Recommended For You


To report an error in this transcript, .Contact us to add your company to our coverage or use transcripts in your business. Learn more about Seeking Alpha transcripts here. Your feedback matters to us!
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.