Suntec Real Estate Investment Trust Full Year 2023 Earnings: Beats Expectations

Suntec Real Estate Investment Trust (SGX:T82U) Full Year 2023 Results

Key Financial Results

• Revenue: S$498.7m (down 13% from FY 2022).

• Net income: S$171.4m (down 63% from FY 2022).

• Profit margin: 34% (down from 81% in FY 2022).

• EPS: S$0.059 (down from S$0.16 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Suntec Real Estate Investment Trust Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) also surpassed analyst estimates by 6.9%.

The primary driver behind last 12 months revenue was the Office – Suntec City Singapore segment contributing a total revenue of S$144.5m (29% of total revenue). The most substantial expense, totaling S$107.1m were related to Non-Operating costs. This indicates that a significant portion of the company’s costs is related to non-core activities. Explore how T82U’s revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 1.0% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the REITs industry in Asia.

Performance of the market in Singapore.

The company’s share price is broadly unchanged from a week ago.

Risk Analysis

Be aware that Suntec Real Estate Investment Trust is showing 4 warning signs in our investment analysis and 1 of those is potentially serious…

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