This printed article is located at http://investor.ascottreit.com/financial_highlights.html

Financial Highlights

 

Information updated based on latest annual report


For the Financial Year 2013 2014 2015 2016 2017
Gross Revenue (S$ million) 316.6 357.2 421.1 475.6 496.3
Gross Profit (S$ million) 161.2 180.2 204.6 222.4 226.9
Unitholders' Distribution (S$ million) 114.8 125.6 123.3 135.0 152.2
Distribution Per Unit (DPU) (cents) 8.40 8.20 7.99 8.27 7.09
Distribution Yield1 (%) 6.94 6.46 6.71 7.32 5.81
DPU (adjusted for Rights Issue)2 (cents) 8.15 7.96 7.75 8.03 7.09
DPU (adjusted for one-off items and Rights Issue) (cents) 7.19 7.61 8.06 7.59 7.99

Balance Sheet
As at 31 December 2013 2014 2015 2016 2017
Total Assets (S$ million) 3,582.0 4,121.9 4,724.6 4,791.3 5,493.1
Unitholders' Funds (S$ million) 2,093.1 2,106.1 2,189.7 2,200.6 2,685.1
Total Borrowings (S$ million) 1,197.1 1,550.9 1,815.2 1,862.6 1,945.4

Financial Ratios
As at 31 December 2013 2014 2015 2016 2017
Net Asset Value (NAV) Per Unit (S$) 1.37 1.37 1.41 1.33 1.25
Aggregate Leverage (%) 34.0 38.5 39.3 39.8 36.2
Interest Cover Ratio3 (times) 4.0 4.3 4.1 4.3 4.7
Management Expense Ratio4 (%) 1.0 1.1 1.2 1.3 1.2
Financial Liabilities as a Percentage of NAV5 (%) 0.5 0.7 0.5 0.5 0.3

Others
As at 31 December 2013 2014 2015 2016 2017
Market Capitalisation1 (S$ million) 1,842.2 1,949.5 1,843.0 1,868.4 2,622.6
Number of Units in Issue (million) 1,522.5 1,535.0 1,548.7 1,653.5 2,149.7

  1. Based on the closing unit price of S$1.21 on 31 December 2013, S$1.27 on 31 December 2014, S$1.19 on 31 December 2015, S$1.13 on 31 December 2016 and S$1.22 on 31 December 2017.
  2. The figures have been restated for the underwritten and renounceable Rights Issue, through which 481,688,010 units were issued on 11 April 2017.
  3. Refers to EBITDA (earnings before net interest expense, tax, depreciation and amortisation) before change in fair value of financial derivatives, change in fair value of serviced residence properties and assets held for sale, and foreign exchange differences over net interest expense.
  4. Refers to the expenses of Ascott Residence Trust and its subsidiaries (Group) (excluding direct expenses, foreign exchange differences, net interest expense, change in fair value of financial derivatives, change in fair value of serviced residence properties and assets held for sale, assets written off and income tax expense).
  5. Financial derivatives refer to the cross currency interest rate swaps, foreign currency forward contracts and interest rate swaps which the Group has entered into.