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Yearly Financial Highlights
(Extracted from Annual Report 2023)
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 2023, PLife REIT owns a resilient portfolio of 63 high-quality healthcare and aged care properties valued at approximately S$2.23 billion1.
Note:
- Based on latest appraised values (excludes adjustment for the right-of-use assets)
- Total portfolio value as at 31 December of each year
- As part of our asset recycling initiatives, we have divested seven Japan nursing homes in FY14, four Japan nursing homes in FY16 and a non-core Japan industrial property in FY21
Financial Performance At A Glance
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 2023)
Note:
- Excludes lease liabilities, if any. For the avoidance of doubt, this does not take into account the amount of loan facilities which have put in place but yet to draw down as at 31 December 2023.
- Post terming out long-term loans due in 2024 and 2025 via new loan facilities (inclusive of 2 new loan facilities secured in January 2024).
- As at 31 December 2023, short term loan amounted to JPY1.359b ($12.6m) was drawn down for capital expenditure and working capital purposes.
- Total Debts (exclude lease liabilities, if any) before transaction costs ÷ Total Assets.
- With effect from 1 January 2022, the gearing limit for S-REITs shall be 45% and 50% for adjusted-ICR of below 2.5x or at least 2.5x respectively.