Financial Highlights
Summary of Results
| FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|
| Revenue (S$'000) | 241,507 | 249,884 | 292,007 | 257,329 | 176,396 | 176,297 |
| Net Property Income (S$'000) | 196,915 | 204,205 | 231,890 | 204,951 | 138,187 | 138,186 |
| Share of Joint Venture Results (S$'000) | 37,108 | 13,236 | - | - | - | - |
| Amount to be Distributed1 (S$'000) | 116,2262 | 136,6323 | 132,8224 | 123,214 | 71,290 | 69,950 |
| Distribution per Unit (Singapore cents) | 2.12 | 2.60 | 2.43 | 3.31 | 3.48 | 4.67 |
Balance Sheet (As at 31 December)
| FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|
| Total Assets (S$'000) | 5,989,105 | 5,832,521 | 6,766,398 | 6,888,193 | 4,571,142 | 3,573,570 |
| Total Borrowings4 (S$'000) | 2,320,733 | 2,256,624 | 2,664,142 | 2,687,127 | 1,675,037 | 1,221,058 |
| Unitholders' Funds (S$'000) | 3,240,073 | 3,127,996 | 3,177,972 | 3,318,417 | 2,038,092 | 1,407,285 |
| Market Capitalisation (S$'000) | 1,830,776 | 2,394,747 | 2,087,280 | 3,038,555 | 1,313,750 | 1,111,689 |
| Number of Units in Issue and to be Issued (‘000) | 5,470,950 | 5,449,685 | 5,427,850 | 5,392,459 | 2,861,589 | 1,546,769 |
Key Financial Ratios (As at 31 December)
| FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|
| Net Asset Value per Unit (S$) | 0.59 | 0.57 | 0.59 | 0.62 | 0.71 | 0.91 |
| Aggregate Leverage Ratio (%) | 38.8 | 38.7 | 41.2 | 40.3 | 39.3 | 37.3 |
| Weighted Average All-in Cost of Debt (% per annum) | 3.7 | 3.2 | 3.0 | 3.4 | 3.5 | 3.5 |
| Weighted Average Debt Maturity (years) | 2.9 | 3.0 | 2.3 | 2.2 | 3.5 | 2.7 |
| Interest Coverage Ratio (times) | 2.6 | 2.8 | 2.7 | 3.3 | 3.0 | 3.2 |
| Adjusted Interest Coverage Ratio (times) | 2.5 | 2.7 | 2.6 | - | - |
Notes
- Net of working capital requirements in relation to the hospitality segment
- Including S$4.6 million capital distribution from divestment of OUE Bayfront in March 2021
- Including release of S$5.0 million of distribution retained in FY 2020 and S$5.4 million capital distribution from divestment of OUE Bayfront in March 2021
- S$5.0 million of distribution was retained to preserve financial flexibility in view of uncertainties posed by the COVID-19 situation
- Includes OUE C-REIT's share of OUB Centre Limited's loan and OUE Allianz Bayfront LLP’s loan. OUE C-REIT’s interest in One Raffles Place and OUE Bayfront are held via its indirect interest in OUB Centre Limited and direct interest in OUE Allianz Bayfront LLP, respectively.
