FY 2014
FY 2013
Revenue Gross Profit
Revenue Gross Profit
S$’m
S$’m
S$’m
S$’m
Australia
0.4
0.4
–
–
France
39.0
36.2
38.2
35.5
Germany
9.8
8.6
9.3
8.3
Japan
8.0
5.9
1.4
1.0
Singapore
9.1
7.3
9.0
7.3
Master Leases
66.3
58.4
57.9
52.1
Belgium
12.9
3.1
11.7
2.3
Spain
7.7
3.2
6.8
3.2
United Kingdom
56.6
25.2
50.9
21.6
Management contracts with guarantee
77.2
31.5
69.4
27.1
Australia
5.6
2.1
5.0
1.8
China
55.9
16.0
39.1
12.7
Indonesia
15.9
5.7
15.5
4.6
Japan
37.9
22.2
31.0
16.6
Malaysia
3.2
1.1
–
–
Philippines
30.2
10.4
30.1
10.6
Singapore
27.1
12.5
28.1
12.6
Vietnam
37.9
20.3
40.5
23.1
Management contracts
213.7
90.3
189.3
82.0
Group
357.2
180.2
316.6
161.2
DISTRIBUTIONS
Ascott Reit achieved unitholders’ distributions of S$125.6 million for FY 2014, S$10.8 million or 9%
higher as compared to FY 2013. The increase was mainly attributed to the 2013 Acquisitions and
2014 Acquisitions and stronger performance from the existing properties.
DPU for FY 2014 was 8.20 cents, 2% lower than FY 2013. Excluding the effects from the rights issue
in December 2013 (the “Rights Issue”) and one-off items (mainly pertaining to realised exchange
gain arising from repayment of foreign currency bank loans), the DPU for FY 2014 would have been
7.61 cents and 6% higher than the adjusted DPU for FY 2013 of 7.19 cents.
Ascott Reit continued to pay out 100% of unitholders’ distribution, demonstrating a firm commitment
to deliver stable returns to unitholders.
Financial Review
56 | Ascott Residence Trust Annual Report 2014
