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(Extracted from Annual Report 2024)

STRONG, STABLE GROWTH OVER THE YEARS

PLife REIT has consistently performed up to expectations and has successfully delivered yet another year of stable growth. Its robust fundamentals, focused growth strategy and prudent financial management strategies will support sustainable returns for Unitholders.

As at 31 December 2024, PLife REIT owns a resilient portfolio of 75 high-quality healthcare and aged care properties valued at approximately S$2.46 billion1.

Financial Performance At A Glance

Note:
  1. Based on latest appraised values (excludes adjustment for the right-of-use assets)
  2. Total portfolio value as at 31 December of each year
  3. As part of our asset recycling initiatives, we have divested seven Japan nursing homes in FY14, four Japan nursing homes in FY16 and a Japan industrial property in FY21
  4. On the back of enlarged unit base post equity fund raising completed in Q4 2024

Sound Fundamentals

PLife REIT maintains a robust balance sheet which provides greater financial flexibility to explore compelling investment opportunities in line with its mission to deliver regular and stable returns for its Unitholders.

Key Metrics

(As at 31 December 2024)

DEBT MATURITY PROFILE1 (S$MILLION)

(As at 31 December 2024)

  • A well-spread debt maturity profile with no more than 30% of debts due in a single year
  • No long-term debt refinancing needs till September 2026

DEBT HEADROOM (ASSET S$MILLION)

(As at 31 December 2024)

  • Healthy gearing3 of 34.8%
  • Ample debt headroom of S$472.2 million and S$774.3 million before reaching 45% and 50%4 gearing respectively

Note:
  1. Exclude lease liabilities, if any
  2. As at 31 December 2024, short term loan amounted to ¥2.058 billion billion ($17.8 million) was drawn down for working capital purposes
  3. Total Debts (exclude lease liabilities, if any) before transaction costs - Total Assets
  4. With effect from 28 November 2024, the gearing limit for S-REITs shall be 50% with a minimum interest coverage ratio of 1.5x