ARA LOGOS Logistics Trust
and its subsidiaries
(Constituted in the Republic of Singapore pursuant to a trust deed dated 11 February 2010 (as amended))
Interim Financial Information
Year ended 31 December 2021
ARA LOGOS Logistics Trust and its subsidiaries
Review of Interim Financial Information
Six-month period and year ended 31 December 2021
Statements of financial position
As at 31 December 2021
Group | Trust | ||||
31 December | 31 December | 31 December | 31 December | ||
Note | 2021 | 2020 | 2021 | 2020 | |
$'000 | $'000 | $'000 | $'000 | ||
Non-current assets | |||||
Investment properties | 3 | 1,723,312 | 1,355,864 | 897,965 | 909,525 |
Investment in property | |||||
funds | 4 | 289,838 | - | - | - |
Plant and equipment | 384 | 520 | 384 | 520 | |
Subsidiaries | 5 | - | - | 450,999 | 188,710 |
Amounts due from | |||||
subsidiaries | - | - | 131,129 | 112,202 | |
Derivative assets | 6 | 3,895 | - | 694 | - |
2,017,429 | 1,356,384 | 1,481,171 | 1,210,957 | ||
Current assets | |||||
Trade and other receivables | 7 | 78,055 | 20,684 | 4,036 | 17,725 |
Amounts due from | |||||
subsidiaries | - | - | 11,298 | 49 | |
Derivative assets | 6 | 617 | 9,001 | 617 | 9,001 |
Cash and cash equivalents | 15,536 | 26,397 | 12,753 | 17,383 | |
94,208 | 56,082 | 28,704 | 44,158 | ||
Total assets | 2,111,637 | 1,412,466 | 1,509,875 | 1,255,115 | |
Current liabilities | |||||
Trade and other payables | 8 | 26,277 | 20,321 | 20,524 | 15,612 |
Amount due to subsidiaries | - | - | 20 | 29 | |
Borrowings | 9 | 110,141 | 69,456 | 106,700 | 66,915 |
Derivative liabilities | 6 | 47 | 2,796 | 47 | 2,796 |
Lease liabilities | 10 | 12,701 | 3,310 | 3,307 | 3,310 |
149,166 | 95,883 | 130,598 | 88,662 | ||
Non-current liabilities | |||||
Trade and other payables | 8 | 2,157 | 3,052 | 1,969 | 2,968 |
Deferred tax liabilities | 11 | 35,057 | - | - | - |
Borrowings | 9 | 632,295 | 449,311 | 377,696 | 307,635 |
Derivative liabilities | 6 | 5,009 | 12,613 | 5,009 | 12,050 |
Lease liabilities | 10 | 209,183 | 71,515 | 67,558 | 71,515 |
883,701 | 536,491 | 452,232 | 394,168 | ||
Total liabilities | 1,032,867 | 632,374 | 582,830 | 482,830 | |
Net assets | 1,078,770 | 780,092 | 927,045 | 772,285 |
The accompanying notes form an integral part of these interim financial information.
FS1
ARA LOGOS Logistics Trust and its subsidiaries
Review of Interim Financial Information
Six-month period and year ended 31 December 2021
Statement of total return
Six-month period and year ended 31 December 2021
Group | |||||
1 July 2021 | 1 July 2020 1 January 2021 1 January 2020 | ||||
to | to | to | to | ||
31 December | 31 December | 31 December | 31 December | ||
Note | 2021 | 2020 | 2021 | 2020 | |
$'000 | $'000 | $'000 | $'000 | ||
Gross revenue | 14 | 68,681 | 59,647 | 135,233 | 117,432 |
Property expenses | (15,207) | (13,578) | (30,344) | (27,442) | |
Net property income | 53,474 | 46,069 | 104,889 | 89,990 | |
Income from investment | |||||
in property funds | 5,020 | - | 7,636 | - | |
Other income | - | - | 5 | - | |
Finance income | 5 | 22 | 49 | 30 | |
Finance expenses | (16,769) | (9,508) | (29,490) | (19,842) | |
Net financing costs | 15 | (16,764) | (9,486) | (29,441) | (19,812) |
Manager's base fees | (4,683) | (3,325) | (8,669) | (6,492) | |
Manager's performance fee | (686) | (641) | (1,387) | (1,255) | |
Trustee fees | (426) | (286) | (751) | (556) | |
Audit fees | (690) | (174) | (903) | (410) | |
Valuation fees | (613) | (70) | (698) | (135) | |
Other trust expenses | (3,019) | (1,583) | (3,996) | (2,707) | |
Net foreign exchange | |||||
(loss)/gain | (4,059) | 6,898 | (3,831) | 7,980 | |
(14,176) | 819 | (20,235) | (3,575) |
The accompanying notes form an integral part of these interim financial information.
FS3
ARA LOGOS Logistics Trust and its subsidiaries
Review of Interim Financial Information
Six-month period and year ended 31 December 2021
Statement of total return (continued)
Six-month period and year ended 31 December 2021
Group | |||||
1 July 2021 | 1 July 2020 1 January 2021 1 January 2020 | ||||
to | to | to | to | ||
Note | 31 December | 31 December | 31 December | 31 December | |
2021 | 2020 | 2021 | 2020 | ||
$'000 | $'000 | $'000 | $'000 | ||
Net income | 27,554 | 37,402 | 62,854 | 66,603 | |
Gain on disposal of | |||||
investment properties | - | - | 1,483 | - | |
Net change in fair value of | |||||
investment properties | 3 | 21,692 | (15,250) | 97,155 | (16,830) |
Net change in fair value of | |||||
investment in property | |||||
funds | 4 | 33,619 | - | 101,535 | - |
Net change in fair value of | |||||
financial derivatives | 6,151 | 16 | 6,960 | (3,006) | |
Total return for the | |||||
period/year before tax | |||||
and distribution | 89,016 | 22,168 | 269,987 | 46,767 | |
Tax expense | 16 | (37,172) | (1,177) | (38,863) | (2,136) |
Total return for the | |||||
period/year after tax, | |||||
before distribution | 51,844 | 20,991 | 231,124 | 44,631 | |
Attributable to: | |||||
Unitholders and perpetual | |||||
securities holders | 51,844 | 20,991 | 231,124 | 44,631 | |
Earnings per Unit (cents) | 17 | ||||
Basic | 3.38 | 1.62 | 16.13 | 3.53 | |
Diluted | 3.38 | 1.61 | 16.10 | 3.50 |
The accompanying notes form an integral part of these interim financial information.
FS4
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ARA LOGOS Logistics Trust published this content on 25 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 January 2022 22:30:02 UTC.