CapitaLand Investment profit surges 165% YoY in FY2024

Revenue rose to $2.82b.

CapitaLand Investment Limited (CLI) reported a 165% jump in total profit after tax and minority interests (PATMI) to $479m for FY2024, driven by $230m in net portfolio gains from asset divestments.

Operating PATMI fell slightly to $510m due to the absence of contributions from divested properties.

Revenue rose to $2.82b, with fee-related business revenue up 9% to $1.17b. All four FRB segments, including listed and private funds management, lodging, and commercial management, grew, with private funds revenue increasing 10%. EBITDA surged 29% to $1.42b.

In 2024, CLI made $5.4b in investments, including $450m in strategic mergers and acquisitions (M&A). The lodging business achieved a record 11,700 unit openings across 54 properties, with RevPAU rising 6% year-on-year.

CLI has proposed a total dividend of $0.18 per share, including a core dividend of 12 cents and a special dividend-in-specie of 0.031 CapitaLand Integrated Commercial Trust (CICT) units per share.