OVERVIEW PERFORMANCE SUSTAINABILITY FINANCIALS APPENDIX 5-Year Financial Summary 2024 2023 2022 2021 2020 Profit or Loss (S$ million) Revenue 115.9 200.9 161.3 119.9 111.2 Earnings Before Interest and Tax 187.1 250.8 138.5 135.5 111.7 Profit After Tax and Minority Interest 10.8 29.1 9.1 5.9 19.0 Financial Position (S$ million) Investment properties 4,254.8 4,148.3 4,385.9 4,230.3 3,524.7 Development properties 1,051.6 1,023.5 1,067.0 1,189.7 1,138.1 Associates and joint ventures 2,513.5 2,481.5 2,297.6 2,315.4 2,345.1 Cash and cash equivalents 107.0 216.4 94.8 99.2 123.2 Other assets 518.6 389.9 399.5 653.1 645.8 Total assets 8,445.5 8,259.6 8,244.8 8,487.7 7,776.9 Equity attributable to owners of the Company 3,006.3 2,573.0 2,631.6 3,029.1 2,840.1 Total borrowings 3,199.4 3,153.4 3,320.1 3,223.8 2,869.8 Non-controlling interests and other liabilities 2,239.8 2,533.2 2,293.1 2,234.8 2,067.0 Total equities & liabilities 8,445.5 8,259.6 8,244.8 8,487.7 7,776.9 Financial Ratios Earnings per share (cents) 0.65 1.75 0.55 0.36 1.15 Net asset value per share (S$) 1.81 1.55 1.58 1.82 1.71 Return on equity (%) 0.4 1.1 0.3 0.2 0.7 Return on total assets (%) 2.2 3.0 1.7 1.7 1.5 Debt equity ratio (net of cash) (times) 0.71 0.74 0.82 0.70 0.66 Interest cover (times) 1.1 1.5 1.3 2.1 1.4 Dividend Ordinary dividend per share (cents) 0.3 0.5 0.2 0.1 0.4 Debt Maturity Profile (As at 31 December 2024) 3,500 3,000 2,500 2,000 1,500 1,000 500 0 2028 41 >2029 155 MTN China Loan Singapore Loan S$’M Total 3,186 2025 1,624 2027 977 2026 389 DEBT PROFILE Perennial Holdings’ borrowings are predominantly denominated in SGD, with 91.7% in SGD and 8.3% in RMB. Where practicable, Perennial Holdings will borrow in the same functional currencies required of its overseas projects to achieve a natural foreign currency hedge. The weighted average interest rate on its borrowings for the financial year was about 5.7% (FY2023: 5.8%) per annum, while the weighted average debt maturity profile as at end December 2024 is 1.61 years. About S$1.6 billion of loans will mature in 2025. The loans due in 2025 comprised secured loans of S$0.9 billion and unsecured loans of S$0.7 billion. Perennial Holdings is in active discussions with the respective lenders to refinance the loans that are coming due in the next six months. 37 ANNUAL REPORT 2024
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