Mapletree's profits down 18% to $1.78b in FY2020

It was driven by lower asset revaluation and disposal gains.

Mapletree Investments saw its profit after tax and minority interests (PATMI) fall 18% YoY to $1.78b in FY2020 from $2.16b in FY2019, a press release revealed. Group revenue inched up 1% YoY to $3.88b from $3.82b over the same period.

The decline in PATMI was driven by lower asset revaluation and disposal gains. Mapletree also stated that it delivered the highest recurring earnings of $752m in five years, which shows a 5% YoY growth.

Due to lower asset revaluation and disposal gains, PATMI dropped by 18% from the historical peak of $2.16b recorded in the previous financial year.

“A significant proportion (~35% of AUM) of our portfolio is in logistics and data centres which are
relatively less affected by the pandemic. This has cushioned our expected reduction in profitability going forward,” said Hiew Yoon Khong, Mapletree Group CEO.

Meanwhile, its earnings before interest and tax plus share of operating profit or loss of associated companies and joint ventures (EBIT+SOA) rose 10% YoY to $2.31b, thanks to the stable performance of the group’s four REITs, contributions from Europe and the US logistics and data centre businesses, and fees from their capital management business.

ROIE jumped to 21.6% from 10.4% in FY2019 as a result of higher disposal gains from the divestment of Mapletree Bay Point in Hong Kong SAR in May 2019 and Mapletree Business City II (MBC II) in Singapore last November 2019.

The group’s AUM also edged up to $60.5b from $55.7b in FY2019.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia