Sasseur REIT’s DPU dips 2.7% YoY in FY2024

DPU for the period stood at $0.06082.

Sasseur REIT posted a distribution per unit (DPU) of $0.06082 for FY2024, dropping 2.7% year-on-year (YoY).

Distributable income for the period was $83.3m, dropping 0.1% YoY from $83.4m in FY2023.

The decline was due to a lower DPU in H1 2024, as well as higher retention to support onshore loan principal amortisation and future capital expenditures.

EMA rental income also dropped 0.4% YoY in Singapore terms to $124.5m mainly due to currency translation effects.

In renminbi terms, EMA rental income rose 0.9% YoY to RMB664.1m ($122m) driven by a rise in the fixed component, which offset a 3.7% YoY decline in the variable component, in line with a 3.9% drop in the portfolio’s outlet sales.

In addition, the REIT achieved an all-time high portfolio occupancy rate of 38.9% in 2024, up 1.3 percentage points from 2023.

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