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Commercial Property

Staff Reporter

, Singapore

Published:

1 year ago

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Yanlord Land posts $633m loss in FY2024

Revenue for the year also fell 16.1% to $6.73b.

Yanlord Land Group Limited reported a net loss of $633m (RMB3.422b) for the full year ended 31 December 2024.

The group attributed the decline mainly to a $1.05b (RMB 5.696b) pre-tax hit from property write-downs, financial asset impairments, and fair value losses on investment properties.

Revenue for the year fell 16.1% year-on-year to $6.73b (RMB 36.397b). Income from property development, the company’s core segment, declined 18.1% to $5.78b (RMB 31.243b). In contrast, property investment and hotel operations saw a 4.8% increase to $338.7m ($1.831b ), whilst property management revenue rose 14.4% to $265.1m (RMB 1.433b). Other segments reported a 16.3% drop to $349.4m (RMB 1.890b).

Total contracted pre-sales, including joint ventures and associates, fell 31.4% to $4.11b (RMB 22.206b).

As of 31 December 2024, total debt fell 21.1% to $4.88b (RMB 26.375b ). Cash and cash equivalents stood at $1.88b (RMB 10.190b ), while the net gearing ratio improved by 5.4 percentage points to 41.3%.

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