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Suntec Real Estate Investment Trust Full Year 2023 Earnings: Beats Expectations

editorial-team@simplywallst.com (Simply Wall St)
·1-min read

Suntec Real Estate Investment Trust (SGX:T82U) Full Year 2023 Results

Key Financial Results

  • Revenue: S$498.7m (down 13% from FY 2022).

  • Net income: S$171.4m (down 63% from FY 2022).

  • Profit margin: 34% (down from 81% in FY 2022).

  • EPS: S$0.059 (down from S$0.16 in FY 2022).

revenue-and-expenses-breakdown
revenue-and-expenses-breakdown

All figures shown in the chart above are for the trailing 12 month (TTM) period

Suntec Real Estate Investment Trust Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) also surpassed analyst estimates by 6.9%.

The primary driver behind last 12 months revenue was the Office - Suntec City Singapore segment contributing a total revenue of S$144.5m (29% of total revenue). The most substantial expense, totaling S$107.1m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how T82U's revenue and expenses shape its earnings.

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Looking ahead, revenue is forecast to grow 1.0% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the REITs industry in Asia.

Performance of the market in Singapore.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Be aware that Suntec Real Estate Investment Trust is showing 4 warning signs in our investment analysis and 1 of those is potentially serious...

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.