FTREIT announces 9-month performance with total revenue of THB 2,800 million with a dividend of 3QFY2023 at THB 0.1870 per unit

  • FTREIT's total revenue of THB 2,810.2 million (October 2022 – June 2023), a 3.1% increase Y-o-Y, and THB 1,887.8 million net profit on investment
  • Performance for the period of 3QFY2023 recorded total revenue of THB 942.8 million with a 3.2% increase Y-o-Y and net profit on investment of THB 616.2 million
  • FTREIT announced 3QFY2023 dividend payment at THB 0.1870 per unit

BANGKOK, 3 August 2023

Frasers Property Industrial REIT Management (Thailand) Company Limited ("FIRM"), REIT manager of Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT), reported a 9-month FY2023 (October 2022 – June 2023) total revenue of THB 2,810.2 million, an increase of 3.1% or THB 84 million Y-o-Y with net profit on investment of THB 1,887.8 million. As for Q3FY2023 (April – June 2023) total revenue rose by 3.2% or THB 29.5 million comparing Y-o-Y with total revenue of THB 942.8 million, and the net profit on investment of THB 616.2 million. FTREIT has maintained its high average occupancy rate of 87.1%.

The dividend payment from the third quarter operations is announced at THB 0.1870 per trust unit, which will be paid on 31 August 2023. The accumulated dividend for the first three quarters of FY2023 is THB 0.5610 per trust unit.

"Our performance shows consistent growth in rentals, which continue to rise. FTREIT's investment in acquiring high-potential industrial assets from Frasers Property Thailand ("FPT") and the non-sponsored is also progressing as planned," said Mr. Thanarat Boonyakosol, Managing Director of FIRM. With a positive economic outlook and the recovery of the consumer and travel markets, coupled with the expansion of the industrial sector, there is an increased demand for warehouse and factory rentals, particularly in the industrial areas of Ayutthaya province and the Eastern Economic Corridor."

For 4QFY2023 (July – September 2023), FTREIT is anticipating an increase in revenue from its investment in TIP 9 project which comprises nine factory and warehouse buildings, encompassing a lease area exceeding 70,000 sqm. The transaction for this investment was successfully concluded on 30 June 2023.

In addition, following the approval of the proposal to acquire high-potential assets including factories and warehouses from Frasers Property Thailand ("FPT"), FIRM is expected to complete its THB 1,5501 million investment by September 2023. The assets comprise 25 units of factories and warehouses which span 58,000 sqm. in total.

1Exclusive of expenses in relation to the investment in the additional investment assets, i.e., appraiser fees, legal advisor fees, independent financial advisor fees.

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