FTREIT Announces 8.3% Year-on-Year Growth in Total Revenue to reach THB 1,812.8 Million in 1HFY2022 driven by high short-term demands for warehouses

  • FTREIT recorded year-on-year (“Y-o-Y”) growth of 8.3% in its total revenue to THB 1,812.8 million for the first half of its fiscal year ended 31 March 2022, while net profit on investment increased by 9.9% Y-o-Y to THB 1,270.8 million.
  • Average occupancy rate in 1HFY2022 (October 2021 - March 2022) remains strong at 87.0% due to the growing demand from logistics, automotive and electronics sectors.
  • 0.1750 Baht per unit distribution payment from the second quarter operations was announced.

BANGKOK, 10 May 2022

Frasers Property Industrial REIT Management (Thailand) Company Limited or “FIRM” as the REIT manager of Frasers Property Thailand Industrial Freehold & Leasehold REIT or “FTREIT” reported a robust set of results for 2QFY2022 (January – March 2022), with an increase in total revenue of 4.9% or THB 42.7 million Y-o-Y to THB 907.0 million. Net profit on investment also rose 2.1% or THB 13.3 million to THB 635.0 million on the back of an increase in assets under management and higher occupancy rate driven by the growing demand from logistics, automotive and electronics sectors. In 1HFY2022 (October 2021 – March 2022), FTREIT delivered total revenue of THB 1,812.8 million, an increase of 8.3% or THB 138.5 million Y-o-Y, while its net profit on investment increased by 9.9% or THB 114.9 million Y-o-Y to THB 1,270.8 million.

The distribution payment from the second quarter operations of THB 0.1750 per unit will be paid on 1 June 2022. The accumulated distribution of FTREIT for 1QFY2022 and 2QFY2022 is THB 0.3450 per unit.

Currently, FTREIT’s assets under management portfolio comprises 641 units of high-quality factories and warehouses with a combined total leasable area of 2.06 million sqm. FTREIT’s assets are located in strategic locations for industrial and logistics industries served by good transportation links, i.e. in Ayutthaya, Pathumthani, Samutprakan, Prachinburi and provinces in the Eastern Economic Corridor.

Mr. Thanarat Boonyakosol, Managing Director of FIRM, said: “As the REIT manager, we are satisfied with the performance in the first half of the fiscal year 2022 as we maintained average occupancy at 87.0%. As the Covid-19 pandemic and the war between Russia and Ukraine prolong, the business sector has slowed down exports due to the higher logistics cost caused byrising oil prices. FTREIT is a beneficiary of this short-term spike in demand for warehouses, which is expected to continue until the end of 2022.”

“For the second half of the fiscal year 2022, FIRM and the property manager (Frasers Property Thailand) will target to add new tenants from growing sectors as part of our active portfolio management. Furthermore, we have invested in asset enhancement projects to improve our current properties to drive occupancy rate and rental rate. This year, FIRM also has investment plans to acquire assets from Frasers Property Thailand and other companies in strategic areas to support FTREIT’s further growth and generate sustainable returns to the trust unitholders,” Mr. Thanarat Boonyakosol concluded.


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