Aggregate leverage as at Dec 31 was a tad lower at 37.7% from the end-June level of 37.8% and interest coverage ratio (ICR) was a tad higher at 3.6x for the latest trailing 12 months compared to 3.5x for the trailing 12 months to end-June 2024. ICR remains robust even under stress scenarios. A 10% decrease in Ebitda or a 100 basis points (bps) rise in weighted average interest rates leads to an ICR of 3.3x and 2.8x respectively.
CapitaLand Ascendas REIT’s (CLAR) FY2024 DPU rose 0.3% to 15.205 cents on a 2.2% y-o-y rise in distributable income to $668.8 million, and despite a 1.9% increase in the number of units. In 2H2024 DPU improved by 2.1% y-o-y to 7.681 cents.
For the full year, revenue rose by 2.9% to $1,523 million while net property income rose by 2.6% to $1,049.9 million.
