Investor Presentaiton
1H 2023 - Financial Performance by Contract Types
Stronger performance across all contract types
Revenue (S$'mil)
Gross Profit (GP) (S$'mil)
RevPAU1 (S$)
1H 2023
1H 2022 % Change
1H 2023
1H 2022
% Change
1H 2023
1H 2022
% Change
9%
39.5
36.1
9%
n.a.
n.a.
n.a.
Master Leases
43.6
39.9
Management Contracts with
Minimum Guaranteed
56.9
38.9
46%
24.8
20.2
23%
230
142
62%
Income (MCMGI)²
Management Contracts
246.4
188.6
31%
90.1
61.9
46%
123
89
38%
Total
346.9
267.4
30%
154.4
118.2
31%
138
96
44%
•
Master Leases (26% of total GP): Revenue and gross profit increased mainly due to new acquisitions.
•
•
MCMGI (16% of total GP): Revenue and gross profit increased mainly due to the recovery from Covid-19. Higher revenue was partially offset by higher staff costs, property
tax expense (due to absence of property tax waiver) and operation and maintenance expenses.
Management Contracts (58% of total GP): Revenue and gross profit were higher due to new acquisitions and stronger performance across key markets. Higher revenue
was partially offset by higher staff costs, operation & maintenance expenses, marketing expense, property tax expense.
•
Revenue and gross profit growth was partially offset by the depreciation of various currencies against S$.
Notes:
1.
2.
Revenue per available unit of properties under management contracts and MCMGI, excludes master leases, rental housing and student accommodation
The master lease for Ascott Orchard Singapore was converted to MCMGI from Dec 2022. For comparison purposes, the revenue and gross profit amounts for 1H 2022 were reclassified from master lease to MCMGI
CapitaLand Ascott Trust
1H 2023 Financial Results
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