Keppel DC REIT's NPI climbed 12.4% to $177.28m in 2019

Full- year contributions from Keppel DC Singapore 5 boosted its distributable income.

Keppel DC REIT popped the champagne as net property income (NPI) inched up 12.4% YoY to $177.28m in FY2019 from $157.67m in 2018, according to an SGX filing. NPI for Q4 2019 rose 14.3% YoY to $48.53m from $42.47m in Q4 2018.

Distributable income in FY2019 also jumped 17.8% YoY to $113.2m in FY2019 from FY2018’s $96.1m, supported by the new acquisitions and full year contributions from Keppel DC Singapore 5 and maincubes data centre in Offenbach am Main, Germany.

Its gross revenue came at $194.83m, which is 11% YoY higher than $175.54m in 2018.

Keppel DC REIT declared a distribution per unit (DPU) of 7.61 cents for the same period, which is 4% higher than 7.32 cents in 2018. Based on the closing price of $2.080 on the last trading day of 2019, the REIT’s distribution yield was 3.66%.

On Q4 2019, it posted 20.4% YoY distributable income growth at $31.5m from $26.1m in 2018. This was boosted by the acquisitions of Keppel DC Singapore 4 and DC1, which were completed in the same quarter.