Singapore · Delayed Price · Currency is SGD CapitaLand Investment Earnings Call Transcripts
Fiscal Year 2025
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Core operating profit grew 6% year-on-year, driven by record fundraising, strong fee growth, and robust listed/private fund performance. China asset write-downs and divestments weighed on total profit, but recurring fee income and cash flow remain strong. Outlook is for continued mid-single-digit profit growth and accelerated asset-light transformation.
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First-half results reflect lower operating PATMI due to divestments and fee pressure, but strong recurring income and capital deployment support a positive H2 outlook. Private credit and India are key growth drivers, with $500M+ China divestments targeted.
Fiscal Year 2024
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PATMI and total profits saw strong year-over-year growth, supported by robust fee income, strategic divestments, and disciplined capital management. The business is well-positioned for growth with significant dry powder, a strong balance sheet, and a focus on expanding in APAC and India.
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The group is executing a strategic transformation to double FUM to SGD 200 billion by 2028, focusing on Asia-Pacific growth, disciplined M&A, and operational excellence. Board oversight emphasizes governance, culture, and talent, while financial targets prioritize fee income, capital efficiency, and long-term value creation.
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Fee-related income grew 8% year-on-year, now 63% of earnings, while divestments reached $1.7 billion, keeping the group on track to exceed its $3 billion annual target. Strategic focus remains on capital recycling, reducing China exposure, and expanding in Asia ex-China.