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FINANCIAL
HIGHLIGHTS
K e y F i n a n c i a l F i g u r e s
FY2012
1
FY2011
2
Forecast
3
S$’000
Gross revenue
81,768
76,945
68,889
Net property income
76,937
73,074
66,155
Distributable income
59,395
60,603
55,361
Annualised DPU (cents)
9.28
8.67
8.67
Annualised distribution yield (%)
- IPO price at S$1.05
8.84
8.26
8.25
- Closing price of S$1.14 on 31 Dec 2012
8.14
7.61
7.61
S e l e c t e d B a l a n c e S h e e t D a t a
As at 31
December
2012
As at 31
December
2011
Pro Forma
4
as at Listing
Date
S$’000
Total assets
1,156,538 1,082,316 884,636
Debt, at amortised costs
420,800
359,865
215,126
Net assets attributable to Unitholders
702,857
681,782
627,769
Units in issue and to be issued entitled to
distribution (‘000)
641,523
637,295
632,800
NAV per Unit (S$)
1.10
1.07
0.99
Adjusted NAV per Unit (S$)
1.07
1.05
0.99
Market capitalisation
730,159
556,627
664,440
D e b t P r o f i l e
As at 31
December 2012
As at 31
December 2011
Aggregate leverage
5
37.6%
34.1%
Total debt
S$432.8 million
S$364.8 million
Fixed as % of total debt
100.0%
96.7%
Weighted average all-in fnancing cost
4.3%
4.4%
Weighted average tenor of debt
3.2 years
2.2 years
Interest cover
6
5.4 times
7.4 times
Unencumbered investment properties
S$108.8 million
S$46.8 million
1
For the year ended 31 December 2012.
2
For the period from 26 November 2010 to 31 December 2011.
3
Based on the fgures for Projection Year 2012 as stated in the IPO Prospectus dated 22 November 2010 (“Prospectus”).
4
Based on unaudited pro forma balance sheet on the listing date as disclosed in Prospectus.
5
Ratio of total borrowings and deferred payments over deposited property as defned in the Property Funds Appendix of the
Code on Collective Investment Schemes.
6
Ratio of net property income over interest expense (excluding amortisation and other fees).
S$1.2
billion
in Total Assets
30.7% Higher
Since Listing Date
S$59.4
million
Distributable
Income
7.3% Higher
Than Forecast
S$81.8
million
in Gross
Revenue
18.7% Higher
Than Forecast
9.28
cents
DPU
7.0% Higher
Than Forecast
S$76.9
million
Net Property
Income (“NPI”)
16.3% Higher
Than Forecast
7
SABANA REIT
Annual Report 2012
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