Annual Results 2024/2025 Analyst Presentation 27 May 2025
2
01
Highlights
02
Business & Strategy
03
Financials
04
Link REIT Portfolio Highlights
05
Outlook
06
Q&A
07
Appendix
Announcement
Presentation
AgendaKai Tin Shopping Centre, Hong Kong
01
Highlights
4
Highlights
Solid results: NPI +5.5% YoY and DPU +3.7% YoY
Hong Kong and Mainland China businesses faced challenges
Valuation pressures across most operating markets
Intensifying macro headwinds and heightened uncertainty
Robust financial position and management priorities to weather challenges and seize opportunities
Diversification strategy has contributed to earnings resilience
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Solid Results amid Intensifying Challenges
FY2024/2025 Performance Highlights
Revenue
HK$14.2B
4.8% YoY
Net Property Income
HK$10.6B
5.5% YoY
Distributable Amount
HK$7.0B
4.6% YoY
Distribution Per Unit
HK$2.72
3.7% YoY
NAV Per Unit
HK$63.3
9.6% YoY
Portfolio Value
HK$226B
6.6% YoY
Average All-in Borrowing Cost 3.6%
(31 Mar 2024: 3.8%)
Credit Ratings
'A' rated
By International Agencies
Net Gearing Ratio
21.5%
(31 Mar 2024: 19.5%)
Note:
(1) All figures for the year ended or as at 31 March 2025 unless stated otherwise.