CLI’s total profit plunges 70% in 2025 on lower portfolio gains, higher revaluation losses

China losses drive a steep fall in company earnings.

CapitaLand Investment (CLI) reported its total PATMI fell 70% to $145m in 2025—compared to $479m in 2024—amidst revaluation losses and impairments of $439m within the China portfolio.

This is despite reporting an operating profit after tax and minority interests (PATMI) of $539m for the financial year ended 31 December 2025, up from $510m in 2024, according to a financial statement.

The strong operating PATMI was offset by lower portfolio gains from asset sales, which reached $45m, down from $230m in the previous year, whilst total revenue declined to $2.13b from $2.82b in 2024.

Basic earnings per share fell to 2.9 cents from 9.5 cents in 2024. CLI proposed a dividend of 12.0 cents per share, compared to 18.5 cents in the prior year.

Funds under management grew 7% to $125b, supported by fundraising momentum as total equity raised nearly doubled to $6.5b, the statement said.

Acquisitions during the year included Wingate Group Holdings and a 40% stake in SC Capital Partners. The group also listed CapitaLand Commercial C-REIT in September 2025.

Net debt-to-equity stood at 0.43x, whilst bank borrowings totalled $5.97b, with 72% of debt at fixed interest rates and an implied interest cost of 3.9%. Available debt headroom reached $6.4b.

Revenue from fee-related businesses amounted to $1.21b, whilst real estate investment revenue totalled $1.02b.

Artificial intelligence-enabled initiatives generated $12m in revenue and delivered $5m in cost savings.

Lee Chee Koon, Group CEO of CLI, said the company will focus on divestments and capital redeployment in 2026 to increase recurring fees.

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CapitaLand Investment Limited

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