ESR revenue climbs 6% YoY in FY2023

The company’s EBITDA experienced a decline due to fair value losses and rising interest costs.

ESR reported a revenue of $1.17b (US$871m) in FY2023, reflecting a 6% YoY increase from $1.10b (US$821m) in FY2022.

However, ESR's EBITDA and PATMI for the period decreased YoY, affected by reduced fair value gains in major markets and increased interest costs from significant changes in the interest rate landscape.

Meanwhile, the company’s fee-related AUM grew 6.3% YoY to  $109.2b (US$81.1b) whilst total AUM increased 7.3% to $210b (US$156.1b).

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ESR also saw a 2% growth in the fund management EBITDA of $779m (US$579m) in FY2023, comprising nearly 60% of ESR’s total segmental EBITDA.

Amongst its markets in the APAC region, North Asia accounted for 36% of the company's fee income, followed by India/Southeast Asia at 22%, and Australia & New Zealand at 21%.