Non-operational losses push Mapletree to $577.2m net loss in FY23/24

It saw valuation declines in its US, Europe, and Australia office portfolios.

Mapletree Investments posted a net loss of $577.2m in FY23/24

Elevated interest rates and the prolonged work-from-home trend have impacted Mapletree Investments’ financial standing, resulting in a net loss of $577.2 million in FY23/24.

Mapletree saw valuation declines within its office portfolios, especially in the United States, Europe, and Australia Markets.

The company also suffered revelation losses for the year due to expansion in real estate capitalisation rates in most markets.

“These non-operational losses have impacted our overall profitability for the year,” Mapletree said.

Despite challenges, the company reported maintaining prudent hedging practices and enhancing operating performance to optimise earnings, alleviating revaluation pressures through contributions from high-performing assets in Asia and logistics.

In FY23/24, the company reported a sustained revenue of S$2.8 billion and Recurring PATMI1 of S$715.6 million.