Stock Analysis
Suntec Real Estate Investment Trust Full Year 2023 Earnings: Beats Expectations
Suntec Real Estate Investment Trust (SGX:T82U) Full Year 2023 Results
Key Financial Results
- Revenue: S$498.7m (down 13% from FY 2022).
- Net income: S$171.4m (down 63% from FY 2022).
- Profit margin: 34% (down from 81% in FY 2022).
- EPS: S$0.059 (down from S$0.16 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Suntec Real Estate Investment Trust Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) also surpassed analyst estimates by 6.9%.
The primary driver behind last 12 months revenue was the Office - Suntec City Singapore segment contributing a total revenue of S$144.5m (29% of total revenue). The most substantial expense, totaling S$107.1m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how T82U's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 1.0% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the REITs industry in Asia.
Performance of the market in Singapore.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
What about risks? Every company has them, and we've spotted 4 warning signs for Suntec Real Estate Investment Trust (of which 1 is concerning!) you should know about.
New: Manage All Your Stock Portfolios in One Place
We've created the ultimate portfolio companion for stock investors, and it's free.
• Connect an unlimited number of Portfolios and see your total in one currency
• Be alerted to new Warning Signs or Risks via email or mobile
• Track the Fair Value of your stocks
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
About SGX:T82U
Suntec Real Estate Investment Trust
Listed on 9 December 2004, Suntec REIT holds properties in Suntec City, Singapore’s largest integrated commercial development (including one of Singapore’s largest shopping mall), a 66.3% interest in Suntec Singapore Convention & Exhibition Centre, a one-third interest in One Raffles Quay and a one-third interest in Marina Bay Financial Centre Towers 1 and 2 and the Marina Bay Link Mall.
