Statements of Total Return Year ended 31 December 2024 CapitaLand Ascott REIT Group CapitaLand Ascott BT Group Stapled Group Note 2024 2023 2024 2023 2024 2023 $’000 $’000 $’000 $’000 $’000 $’000 Gross revenue 22 633,336 586,420 197,616 171,683 809,520 744,558 Direct expenses 23 (318,413) (295,387) (131,192) (113,188) (438,571) (406,309) Gross profit 314,923 291,033 66,424 58,495 370,949 338,249 Depreciation of land and buildings, plant and machinery – – (17,954) (19,904) (22,670) (24,620) Finance income 24 4,240 3,125 2,020 1,318 6,181 4,434 Other income 7,893 3,147 1,295 – 8,784 3,031 Finance costs 24 (100,044) (80,795) (10,875) (12,433) (105,352) (86,830) Managers’ management fees 25 (30,591) (29,590) (5,223) (4,627) (35,814) (34,217) Trustee’s fee (806) (749) (165) (162) (971) (911) Professional fees 26 (4,499) (5,549) (865) (881) (5,364) (6,431) Audit fees (2,844) (3,211) (665) (447) (3,509) (3,658) Foreign exchange (loss)/gain (16,825) 22,553 (3,761) 3,616 (20,586) 26,169 Other operating expenses (7,898) (3,648) (1,480) (693) (9,782) (5,589) Net income before share of results of associate 163,549 196,316 28,751 24,282 181,866 209,627 Share of results of associate (net of tax) 10 15 7 – – 15 7 Net income 27 163,564 196,323 28,751 24,282 181,881 209,634 Net change in fair value of investment properties, investment properties under development and assets held for sale 23,758 109,405 24,161 1,746 51,106 101,132 Revaluation deficit on land and buildings – – (1,134) – (1,134) – Net change in fair value of financial derivatives (5,295) (25,283) – 956 (5,295) (24,327) Net change in fair value of investment securities (477) 38 – – – – Profit/(loss) from divestments 28 64,239 16,016 (1,925) – 62,687 16,016 Investment properties written off 4 (441) (1,478) – – (37) (230) Total return for the year before income tax 245,348 295,021 49,853 26,984 289,208 302,225 Income tax expense 29 (34,191) (71,541) (10,731) (903) (44,922) (72,444) Total return for the year 211,157 223,480 39,122 26,081 244,286 229,781 Total return/(loss) attributable to: Stapled Securityholders and perpetual securities holders 208,342 225,085 38,895 26,078 241,175 231,255 Non-controlling interests 9 2,815 (1,605) 227 3 3,111 (1,474) 211,157 223,480 39,122 26,081 244,286 229,781 Earnings per Stapled Security (cents) 30 Basic 5.99 6.10 Diluted 5.95 6.07 The accompanying notes form an integral part of these financial statements. 114 CapitaLand Ascott Trust
RkJQdWJsaXNoZXIy NTkwNzg=