CapitaLand Ascott Trust Achieves 6% Year-on-Year Growth in Gross Profit

CapitaLand Ascott Trust (CLAS) has reported a 6% increase in gross profit compared to the previous year, totaling S$182.5 million for the first half of 2025. Revenue rose 3% year-on-year to S$398.5 million. The growth in gross profit and revenue is primarily due to enhanced operational performance, the effectiveness of CLAS’s asset management strategies, and ongoing asset improvements.

On a same-store basis, gross profit and revenue both saw a 4% increase in the first half of the year. CLAS’s Revenue Per Available Unit (REVPAU) for this period climbed by 3% to S$150 compared to H1-2024. Additionally, the Q2-2025 REVPAU grew to S$159, reflecting higher average occupancy rates across key markets.

Furthermore, CLAS reinforced its commitment to stable core distributions, distributing S$91.6 million in total core distributions during the first half of the year. The total distribution remains steady at S$96.5 million.

Strategic Insights

Lui Chong Chee, Chair of CapitaLand Ascott Trust Management Limited, remarked, “CLAS continues to deliver consistent growth, achieving higher revenue and gross profit in H1-2025. Despite global uncertainties, CLAS remains resilient, supported by a diversified portfolio across various markets and asset types.”

CEO Serena Teo noted the ongoing strategic initiatives aimed at enhancing the portfolio’s value and reinforcing earnings stability, including upcoming asset enhancement initiatives planned for 2025 and 2026. CLAS’s strategy involves acquiring properties with a forecasted accrual of 1.6% to its distribution per stapled security through recent investments.

Overall, these strategies and performance metrics indicate a solid outlook for CLAS as they continue to navigate through market challenges.