Singapore · Delayed Price · Currency is SGD City Developments Earnings Call Transcripts
Fiscal Year 2026
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Revenue and PATMI surged in H1 2026, led by strong Singapore property development and resilient hotel and commercial segments. Gearing rose due to land acquisitions, but liquidity remains robust. Capital recycling and a strategic review are set to drive future growth.
Fiscal Year 2025
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Revenue rose 9.7% to SGD 3.6 billion and PATMI surged over 200% to SGD 630 million, driven by record Singapore residential sales and strong capital recycling. A new dividend policy sets a minimum 35% payout of reported PATMI, with a total SGD 0.28 per share for FY2025.
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First half 2025 saw improved core earnings, strong Singapore property sales, and over SGD 1.5B in divestments, despite significant FX losses. Gearing rose slightly, but capital recycling and a special dividend supported shareholder returns. Further divestments and selective investments are expected.
Fiscal Year 2024
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Revenue and profits declined in H1 2024 due to the absence of a major EC project, construction delays, and high financing costs, but the group remains focused on capital recycling and selective investments. Hotel and investment property segments performed well, and gearing rose to 69%.