In 2HFY2023, DPU fell by 23% y-o-y to 1.186 cents. The lower DPU is a result of lower revenue and net property income (NPI) from the divestment of non-core assets, higher interest cost and the depreciation of the AUD against the SGD. Revenue declined by 3.1% to $189.5 million while NPI fell by 6.5% to $132.3 million.
ESR-LOGOS REIT (E-LOG) announced distributions per unit (DPU) for FY2023 of 2.564 cents, down 14.5% y-o-y mainly due to new units issued for the equity fund raising (accounting for 13.6% of total outstanding units) and divestments of non-core assets, with proceeds planned for future deployment
Revenue in FY2023 rose by 12.6% to $386.4 million and net property income (NPI) rose 11.8% y-o-y to $273.2 million. The higher revenue and NPI in the full year were due to the merger with ARA-LOGOS Trust in April 2022 and the acquisition of ESR Sakura Distribution Centre in October 2022, partially offset by loss of income from divestment of non-core assets.
