Appendix
Total Return and
Distribution
FY
02/03
FY
03/04
FY
04/05
FY
05/06
FY
06/07
FY
07/08
FY
08/09
FY
09/10
FY
10/11
FY
11/12
(1)
FY
12/13
(1)
FY
13/14
(1,2)
FY
14/15
(1,2)
FY
15/16
(1,2)
Gross Revenue
(S$m)
22.8 65.9 129.0 227.2 283.0 322.3 396.5 413.7 447.6 503.3 575.8 613.6 673.5 761.0
Net Property
Income (S$m)
16.5 50.3 96.1 173.6 210.3 243.5 296.6 320.0 339.4 368.3 408.8 436.0 462.7 533.7
Total Amount
Available for
Distribution
(S$m)
15.2 45.5 84.2 142.6 163.8 187.3 210.9 234.9 248.0 281.7 305.6 342.0 351.1 378.3
Distribution per
Unit (cents)
7.630
(3)
8.160 9.560 11.680 12.750 14.130 15.180 13.100 13.230 13.560 13.740 14.240 14.600 15.357
As at
31 March
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
(1)
2013
(1)
2014
(1,2)
2015
(1,2)
2016
(1,2)
Number of
Properties in
Portfolio
8 16 36 64 77 84 89 93 93 102 103 105
107
133
Total Assets
(S$m)
636 1,021 2,112 2,808 3,307 4,205 4,548 4,854 5,420 6,564 6,959 7,358 8,160 9,870
Number of Units
in Issue (m)
545 707 1,161 1,277 1,322 1,326 1,684 1,871 1,874 2,085 2,399 2,403 2,406 2,666
Net Asset Value
per Unit (S$)
(4)
0.91 0.98 1.23 1.34 1.49 1.84 1.61 1.57 1.76 1.88 1.94 2.02
2.08
2.06
Total Gross
Borrowings
(S$m)
(5)
125 264 556 970 1,185 1,562 1,591 1,522 1,900 2,401 1,971 2,208 2,735 3,675
Aggregate
Leverage
(6)
19.6% 28.9% 30.2% 36.7% 37.3% 38.2% 35.5% 31.6% 35.2% 36.6% 28.3% 30.0% 33.5% 37.3%
Notes:
(1)
With effect from FY11/12, results include the consolidation of the Trust’s wholly owned subsidiaries.
(2)
The Group adopted FRS 110 Consolidated Financial Statements with effect from 1 April 2014 which results in the Group consolidating Ruby Assets Pte. Ltd.
and Emerald Assets Limited since 1Q FY14/15. FY13/14 figures have been restated on a similar basis for comparison.
(3)
Annualised based on actual distibution per Unit of 2.78 cents for the 133 days ended 31 March 2003.
(4)
Prior to distribution of distributable income.
(5)
Excludes fair value changes and amortised costs. Borrowings denominated in foreign currencies are translated at the prevailing exchange rates except for JPY/
HKD-denominated debt issues, which are translated at the cross-currency swap rates that A-REIT has committed to.
(6)
Includes total borrowings and deferred payments on acquisition of properties but excludes fair value adjustments of the collateral loan.
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A-REIT ANNUAL REPORT
2015/2016
