Mapletree Logistics Trust posts 7% fall in Q4 DPU to S$0.01819

[SINGAPORE] The manager of Mapletree Logistics Trust (MLT) on Thursday (Apr 30) posted a distribution per unit (DPU) of S$0.01819 for the fourth quarter ended March, down 7 per cent from S$0.01955 in the year-ago period.

This brings total DPU for FY2026 to S$0.07262, down 9.8 per cent year on year. Distribution for Q4 will be paid on Jun 23.

Distributable income fell 6.1 per cent to S$93 million for Q4, from S$99.1 million in the same period the year before, amid an enlarged unit base.

Revenue was down 1.7 per cent on year at S$176.6 million and net property income (NPI) fell 0.9 per cent to S$151.4 million in Q4. The declines were primarily due to an absence of contributions from divested properties and weaker regional currencies, said the manager.

In FY2026, MLT divested six properties at an average premium to valuation of about 20 per cent. The properties sold include 1 Genting Lane, 8 Tuas View Square and Mapletree Logistics Centre-Yeoju in South Korea.

Excluding the impact of divestments and currency volatility, MLT would have registered growth in revenue and NPI of S$3.6 million and S$4.1 million, respectively.

This would have come amid higher contributions from the existing portfolio and contribution from the newly completed redevelopment project in Singapore, said the manager.

For the full-year, revenue was down 2.6 per cent at S$708.3 million in FY2026, from S$727 million the year before. NPI fell 2.4 per cent to S$610.2 million in FY2026, from S$625.3 million.

Distributable income for FY2026 was S$370.1 million, down 8.9 per cent from the previous year’s S$406.4 million.

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“In light of the ongoing Middle East conflict and broader supply chain uncertainties, we remain vigilant and focused on execution,” said Jean Kam, chief executive officer of MLT’s manager.

“Our immediate priorities are to preserve portfolio stability through tenant retention, prudent cost management and active lease management, while continuing our portfolio rejuvenation strategy to unlock value and position MLT for sustainable long-term growth,” she added.

Units of MLT ended Thursday 0.8 per cent or S$0.01 lower at S$1.22, before the release of the results.