Metro Holdings Ltd · SGX:M01
Metro — FY2025 Earnings Presentation
34 slides from Metro's earnings presentation, May 23, 2025
Slide 1: FY2025 Results Presentation
FY2025 Results Presentation Metro Holdings Limited 23 May 2025
Slide 2: Contents
Contents 1. Metro at a Glance 2. Investments in FY2025 3. Overcoming Adversity, Strengthening Resilience 4. Financial Highlights 5. Sustainability
Slide 3: Metro at a Glance
1: Metro at a Glance 4 [A] METRO
Slide 4: About Metro
About Metro Listed on the Mainboard of the SGX-ST since 1973 & headquartered in Singapore, Metro is a property investment and development group with a diversified net asset portfolio valued at S$1.2 billion & a turnover of S$104.5 million for the financial year ended 31 March 2025. Founded in 1957 b
Slide 5: Vision Strategy
Vision Metro aims to be a leading property investment and development group in the region, building on the synergies of our rich retail experience, strong foothold in our core markets, & our strategic partnerships. Strategy 1. Continuing to grow in Singapore, China, Indonesia, the UK & Australia 2.
Slide 6: Diversification Through Geography & Sector
Diversification Through Geography & Sector United Kingdom London 5 Chancery Lane China Shanghai Guangzhou Metro City GIE Tower Manchester Middlewood Locks Metro Tower Bay Valley Chengdu Shanghai Plaza The Atrium Mall Sheffield Endeavour, Sheffield Digital Campus Singapore Asia Green Bristol Warwick
Slide 7: Diversification Through Partnerships
Diversification Through Partnerships China United Kingdom (1993) (2014) (2004) (2018) (2007) (2011) (2020) (2018) Indonesia (2019) (2001) (2019) Singapore (2017) (2012) Australia Evia Real Estate (2019) (2019) (2020) (2022) (2023) Note: Year in brackets refer to year where partnership was establishe
Slide 8: Investments in FY2025
2: Investments in FY2025 4 [A] METRO
Slide 9: 1 Castlereagh Street, Australia
1 Castlereagh Street, Australia 1 Castlereagh Street 27-storey freehold prime office property with retail on ground levels Description located at 1 Castlereagh Street, Sydney, New South Wales, Australia Partner / Asset Manager / % owned by Group 30% Net Lettable Area 12,418 sqm Tenure Freehold Occup
Slide 10: Acquisition of Additional 25% Interest in Fairbriar
Acquisition of Additional 25% Interest in Fairbriar Middlewood Locks Fairbriar Real Estate Limited and its subsidiaries currently own and develop Description of Fairbriar the Middlewood Locks mixed-use development in Manchester, UK Partner 50% % owned by Group (First 25% acquired on 2 July 2014, add
Slide 11: Overcoming Adversity, Strengthening Resilience
3: Overcoming Adversity, Strengthening Resilience
Slide 12: Investment Properties
Investment Properties GIE Tower Metro City Metro Tower Asia Green 广州国际电子大厦 美罗城 美罗大厦 Singapore Guangzhou, China Shanghai, China Shanghai, China Type of Development Commercial Retail Commercial Commercial Two blocks of premium Part of a 7-storey shopping Lifestyle entertainment Grade-A office spread a
Slide 13: Investment Properties (cont'd)
Investment Properties (cont’d) Expiry Profile and Tenant Mix GIE Tower Metro City Metro Tower Asia Green 广州国际电子大厦 美罗城 美罗大厦 Singapore Guangzhou, China Shanghai, China Shanghai, China Expiry 1H FY2026 13.1% 8.4% 5.9% 8.7% Profile 2H FY2026 31.1% 20.5% 4.3% 1.4% 6.6% 11.1% 6.5% 2.4% 9.5% 24.4% 16.7% 14
Slide 14: Investment Properties (cont'd)
Investment Properties (cont’d) Bay Valley Shanghai Plaza The Atrium Mall 5 Chancery Lane 杨浦 上海广场 晶融汇 London, UK Shanghai, China Shanghai, China Chengdu, China Type of Commercial Mixed-use Retail Commercial Development Office buildings (A4, C7 & LEED Gold® certified Retail mall, centrally located Key
Slide 15: Overview of Australian Portfolio
Overview of Australian Portfolio Quality Freehold Properties Comprising 13 Defensive Retail Centres & 5 Offices ➢ Located in New South Wales, Victoria, Queensland & Western Australia Valuation(2): A$1,396m (S$1,178m) ➢ NLA(1): 176,279 sqm 2 30% owned by Metro Ropes Crossing Village, NSW ➢ Portfolio
Slide 16: Overview of Boustead Industrial Fund (BIF) Portfolio
Overview of Boustead Industrial Fund (“BIF”) Portfolio Diversified Portfolio Of 15 Properties Across Singapore(1) ➢ Comprising 1 Business Park, 5 High-Spec Industrial, 6 Industrial & 3 Logistics Properties Valuation(2): S$763.2m ➢ NLA(2): 2,168,938 sq ft 26% owned by Metro ➢ Portfolio WALE by income
Slide 17: Overview of Purpose-Built Student Accommodation (PBSA)
Overview of Purpose-Built Student Accommodation (“PBSA”) Building Scale In Defensive UK PBSA Segment ➢ Six freehold properties under UK PBSA Fund “Paideia Capital UK Trust” Valuation(2): £149m (~S$259m) ➢ No. of Beds(1): 902 30% owned by Metro ➢ Partners/Fund Manager: / (33.3% owned Occupancy(1,3):
Slide 18: Trading Properties
Trading Properties Trans Park Juanda, Bekasi, Jakarta, Trans Park Bintaro, Indonesia Jakarta, Indonesia Type of Development Residential Residential 5,686 units with total saleable GFA(1) of 162,754 sqm 2 residential towers comprising 1,260 Key Project Description apartment and 170 SoHo units with Fi
Slide 19: Trading Properties (cont'd)
Trading Properties (cont’d) Middlewood Locks Endeavour, Sheffield Digital Campus VisionCrest Orchard Manchester, UK Sheffield, UK Singapore Type of Development Mixed-use Commercial Commercial 11-storey freehold, LEED Gold® 2,215 units, and an additional 1,000 Certified Grade-A office building with n
Slide 20: Retail: Outlook
Retail: Outlook • Singapore’s retail trade sector reversed from a 1.3% in 2023 to a 0.4% contraction in 2024, weighed down by more cautious spending amid high cost and global uncertainties(1,2) • Department stores’ sales volume contracted 3.2% in 2024(1) as compared to the flat growth in 2023(3) • D
Slide 21: Financial Highlights
Financial Highlights 4 [A] METRO
Slide 22: Key Financial Highlights – FY2025
Key Financial Highlights – FY2025 Revenue decreased 9.8% from S$115.9m in FY2024 to S$104.5m in FY2025, mainly due Revenue (S$’M) 1 to: 9.8% • Lower sales from Retail Division’s two department stores in Singapore, Metro FY2025 104.5 Paragon & Metro Causeway, amid the challenges confronting Singapore
Slide 23: Key Financial Highlights – FY2025
Key Financial Highlights – FY2025 Basic EPS NAV Per /(Loss Per Share) Share (27.2) cents S$1.40 N.M. -18.6% YoY FY2024 FY2024 1.8 cents S$1.72 Return on Return on Total Assets(1) Equity(1) -10.4% -17.4% N.M. N.M. FY2024 FY2024 0.6% 1.0% Remarks: N.M. = Not meaningful (1) In calculating return on equ
Slide 24: Fiscal Discipline & Resilience
Fiscal Discipline & Resilience(1) Healthy cash balance, available undrawn facilities and disciplined financial management positions us well to weather future economic headwinds and capitalise on opportunities Strong Balance Sheet, S$313.5m S$1.2b Healthy Cash & Banking Lines Cash & Cash Equivalents
Slide 25: Key Financial Highlights – FY2025 Proposed Dividend
Key Financial Highlights – FY2025 Proposed Dividend(1) S$16.6 million Comprises: • Ordinary Dividend 0% YoY - 2.0 cents FY2024 S$16.6 million Remarks: (1) FY2025’s proposed dividend subject to shareholders’ approval at the AGM 25
Slide 26: Dividend Payout
Dividend Payout Cents per Share 6 Ordinary Special 120% 100% 4 80% 3 2.5 60% 1 2 0.25 0.25 40% 2 2 2 2 2 2 2 2 20% 0 0% FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025* Payout 26.0% 38.7% 51.4% 50.7% 104.8% 74.1% 113.8% n.m. Ratio: *FY2025 proposed dividend subject to shareholders’ approval
Slide 27: Consolidated Income Statement
Consolidated Income Statement 2nd Half Year Ended Full Year Ended (S$ ’000) 31-Mar-25 31-Mar-24 Change 31-Mar-25 31-Mar-24 Change Revenue 56,154 65,747 (14.6%) 104,504 115,908 (9.8%) (Loss)/Profit Before Tax (226,847) 8,780 n.m. (219,843) 19,724 n.m. Comprising:- Metro City, Metro Tower, GIE Tower,
Slide 28: Balance Sheet Highlights
Balance Sheet Highlights As at (S$ million) Change 31-Mar-25 31-Mar-24 Investment Property 98.7 102.4 (3.6%) Associates 631.8 847.4 (25.4%) Joint Ventures 433.2 373.6 16.0% Other Non-current Assets 102.9 160.7 (36.0%) Current Assets 789.1 826.0 (4.5%) Total Assets 2,055.7 2,310.1 (11.0%) Current Lia
Slide 29: Key Financial Highlights – 2HFY2025
Key Financial Highlights – 2HFY2025 Revenue (S$’M) 1 Revenue decreased 14.6% from S$65.7m in 2HFY2024 to S$56.2m in 2HFY2025, -14. 6% mainly due to: FY2025 56.2 • Lower sales from Retail Division’s Point two department stores in Singapore, Metro Paragon & Metro Causeway, amid the challenges confront
Slide 30: Sustainability
5D: Sustainability 4 [A] METRO
Slide 31: Our Commitment to Sustainability: Initiatives & Progress
Our Commitment to Sustainability: Initiatives & Progress Continuing to build a resilient and resource-efficient real estate portfolio Asia Green, Singapore GSK Asia House, Singapore 351 on Braddell, Singapore 50 Margaret Street, NSW, Australia BCA Green Mark Platinum BCA Green Mark Gold Plus BCA Gre
Slide 32: Our Commitment To Sustainability: Initiatives & Progress
Our Commitment To Sustainability: Initiatives & Progress Metro (Private) Limited: 1. Received Progressive Wage Mark accreditation on 10 October 2024 for paying progressive wages to uplift lower-wage workers 2. Ranked 3rd in Department Store category in the Singapore’s Best Customer Service 2024/2025
Slide 33: Our Commitment To Sustainability: Initiatives & Progress
Our Commitment To Sustainability: Initiatives & Progress (continued from previous) Metro (Private) Limited: 5. Supported Food From the Heart (FFTH)’s Food Packing Sessions with 90 volunteers in 2024 over 8 sessions, and with Food Donation Collection Points at each of Metro Paragon and Metro Causeway
Slide 34: Thank You
Thank You 4 [A] METRO