FTREIT Announces FY2020 Revenue of THB 3,048.4 Million and DPU of 4QFY2020 at THB 0.1680 Per Trust Unit
- FTREIT announced FY20 results (October 1, 2019 – September 30, 2020) (“FY2020”) with THB 3,048.4 million in total revenue, an increase of 8.6% Y-o-Y, and THB 2,099 million in net investment income, an increase of 20% Y-o-Y.
- FTREIT acquired high-potential assets worth THB 4,908 million from Frasers Property Thailand and third party, maintaining its position as the largest industrial and logistics REIT in Thailand with total assets worth THB 41,6 million.
- FTREIT announced the distribution payment (“DPU”) for the fourth quarter at THB 0.1680 per trust unit. The accumulated distribution of FTREIT for the FY2020 is THB 0.6690 per trust unit.
BANGKOK, 5 November 2020
Frasers Property Industrial REIT Management (Thailand) Company Limited or “FIRM”, the REIT manager of Frasers Property Thailand Industrial Freehold & Leasehold REIT or “FTREIT”, today announced a robust performance for the full financial year which ended 30 September 2020. FTREIT delivered total revenue of THB 3,048.4 million, an increase of 8.6% or THB 241.3 million Y-o-Y, while its net investment income rose by 20% or THB 349.6 million Y-o-Y to THB 2,099 million. FTREIT has a better operating performance and the acquisitions of assets in the fiscal year 2020 drove the growth of earnings.
In FY2020, FTREIT has shown significant growth through the investment worth THB 4,908 million on the acquisitions of high-potential industrial and logistics assets. The investment was divided into:
- The acquisition of 24 warehouse units of Sahathai Property & Development Company Limited’s which is worth THB 2,050 million which have location nearly to laem Chabang deep sea port and laem Chabang industrial estate in Chonburi province; and
- The acquisition of 36 factory and warehouse units of Frasers Property Thailand which assets located in industrial and logistic strategic locations in Ayutthaya, Pathumthani, Chonburi and Rayong province, worth THB 2,858 million. The remaining assets that unitholders approved in Extraordinary General Meeting (No.1/2020) will be completely transferred and lease registration within in February 2021.
As at September 30, 2020, FTREIT continues to cement its leadership as Thailand’s largest industrial and logistics REIT with total assets worth THB 41,143.6 million, comprising 614 units of high-quality factories and warehouses with a combined leasable area of over 1.87 million sqm.
FTREIT has proven its excellent portfolio management through challenging circumstances especially during the peak of COVID-19 pandemic. It successfully maintains a healthy occupancy rate at 82.2% as at September 30, 2020.
The distribution payment from the fourth quarter results is THB 0.1680 per trust unit and will be paid on December 2, 2020. The accumulated distribution of FTREIT for FY2020 is THB 0.6690 per trust unit.
Mr. Peerapat Srisukont, Managing Director of FIRM, said, “FTREIT underwent economic and political challenges amidst a COVID-19 pandemic in the fiscal year 2020. Unlike some other industry sectors who have been hit hardest, our factory and warehouse tenants are in the manufacturing and logistics sectors, which have been partially financially affected by the situation. Nevertheless, to aid our tenants during these difficult times, FTREIT has offered tenants a rent relief scheme in case by case based on their financial position and operation that effect from COVID-19, rent relief scheme include reducing rental rates and delaying rental payments.”
“We are confident that FTREIT will continue to create sustainable returns to our trust unitholders and stakeholders with our robust portfolio. Our Tris rating at A Stable Outlook and listing in the FTSE Global Equity Index Series (GEIS) will continue to attract investment opportunities from a wider group of local and international institutional investors,” Peerapat concluded.
