03
Ascott Residence Trust
Annual Report 2015
Financial Highlights
Overview
Sustainability
Business
Review
Portfolio
Details
Corporate
Governance &
Transparency
Financials &
Additional
Information
For the Financial Year
2011
2012
2013
2014
2015
Gross Revenue (S$ million)
288.7
303.8
316.6
357.2
421.1
Gross Profit (S$ million)
157.5
159.1
161.2
180.2
204.6
Unitholders' Distribution (S$ million)
96.2
99.7
114.8
125.6
123.3
Distribution Per Unit (DPU) (cents)
8.53
8.76
8.40
8.20
7.99
Distribution Yield
1
(%)
8.62
6.40
6.94
6.46
6.71
DPU (adjusted for Rights Issue)
2
(cents)
8.34
8.55
8.30
8.20
7.99
Balance Sheet
As at 31 December
2011
2012
2013
2014
2015
Total Assets (S$ million)
3,023.0 3,002.5 3,582.0 4,121.9
4,724.6
Unitholders' Funds (S$ million)
1,537.0 1,547.4 2,093.1 2,106.1
2,189.7
Total Borrowings (S$ million)
1,204.6 1,170.8 1,197.1 1,550.9
1,815.2
Financial Ratios
As at 31 December
2011
2012
2013
2014
2015
Net Asset Value (NAV) Per Unit (S$)
1.36
1.35
1.37
1.37
1.41
Aggregate Leverage (%)
40.8
40.1
34.0
38.5
39.3
Interest Cover Ratio
3
(times)
3.8
3.9
4.0
4.3
4.1
Management Expense Ratio
4
(%)
1.3
1.2
1.0
1.1
1.2
Financial Derivatives as a Percentage of NAV
5
(%)
1.2
1.3
0.5
0.7
0.5
Others
As at 31 December
2011
2012
2013
2014
2015
Market Capitalisation
1
(S$ million)
1,118.6 1,554.2 1,842.2 1,949.5
1,843.0
Number of Units in Issue (million)
1,129.9 1,142.8 1,522.5 1,535.0
1,548.7
1
Based on the closing unit price of S$0.99 on 31 December 2011, S$1.36 on 31 December 2012, S$1.21 on 31 December 2013, S$1.27 on
31 December 2014 and S$1.19 on 31 December 2015.
2
The figures have been restated for the underwritten and renounceable 1-for-5 Rights Issue, through which 253,749,218 units were issued on
12 December 2013.
3
Refers to EBITDA (earnings before net interest expense, tax, depreciation and amortisation) before change in fair value of financial derivatives,
change in fair value of serviced residence properties and assets held for sale, and foreign exchange differences over net interest expense.
4
Refers to the expenses of Ascott Residence Trust (excluding direct expenses, foreign exchange differences, net interest expense, change in fair value of
financial derivatives, change in fair value of serviced residence properties and assets held for sale, assets written off and income tax expense).
5
Financial derivatives refer to the cross currency swaps, interest rate swaps and interest rate caps which the Group has entered into.
