Frasers Property TQ5
Financials
Annual Report 2025
Explore the statements
28 tablesConsolidated statement of profit or loss
24 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income statement | |||
| REVENUE$’000 | 3,403,519 | 4,214,846 | PDF p. 148 |
| Cost of sales$’000 | (2,060,045) | (2,721,446) | PDF p. 148 |
| Gross profit$’000 | 1,343,474 | 1,493,400 | PDF p. 148 |
| Other income/(losses)$’000 | 51,376 | 19,204 | PDF p. 148 |
| Administrative expenses$’000 | (426,426) | (444,866) | PDF p. 148 |
| TRADING PROFIT$’000 | 968,424 | 1,067,738 | PDF p. 148 |
| Share of results of joint ventures and associates, net of tax$’000 | 217,825 | 284,493 | PDF p. 148 |
| PROFIT BEFORE INTEREST, FAIR VALUE CHANGE, TAX AND EXCEPTIONAL ITEMS$’000 | 1,186,249 | 1,352,231 | PDF p. 148 |
| Interest income$’000 | 84,467 | 103,317 | PDF p. 148 |
| Interest expense$’000 | (662,049) | (627,775) | PDF p. 148 |
| Net interest expense$’000 | (577,582) | (524,458) | PDF p. 148 |
| PROFIT BEFORE FAIR VALUE CHANGE, TAX AND EXCEPTIONAL ITEMS$’000 | 608,667 | 827,773 | PDF p. 148 |
| Fair value change and gain on disposal of investment properties$’000 | 9,395 | (198,630) | PDF p. 148 |
| PROFIT BEFORE TAX AND EXCEPTIONAL ITEMS$’000 | 618,062 | 629,143 | PDF p. 148 |
| Exceptional items$’000 | (36,989) | 23,244 | PDF p. 148 |
| PROFIT BEFORE TAX$’000 | 581,073 | 652,387 | PDF p. 148 |
| Tax credit/(expense)$’000 | 1,200 | (132,875) | PDF p. 148 |
| PROFIT FOR THE FINANCIAL YEAR$’000 | 582,273 | 519,512 | PDF p. 148 |
| Attributable profit | |||
| Owners of the Company – Before fair value change and exceptional items$’000 | 239,421 | 218,156 | PDF p. 148 |
| – Fair value change$’000 | 37,227 | (27,317) | PDF p. 148 |
| – Exceptional items$’000 | (33,550) | 15,492 | PDF p. 148 |
| Subtotal$’000 | 243,098 | 206,331 | PDF p. 148 |
| Non-controlling interests$’000 | 339,175 | 313,181 | PDF p. 148 |
| Income statement | |||
| PROFIT FOR THE FINANCIAL YEAR$’000 | 582,273 | 519,512 | PDF p. 148 |
Definitions & sources
Original report: PDF p. 148 ↗
Earnings per share
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Earnings per share | |||
| Basic earnings per sharecents per share | 5.9 | 4.2 | PDF p. 148 |
| Diluted earnings per sharecents per share | 5.9 | 4.2 | PDF p. 148 |
Definitions & sources
Original report: PDF p. 148 ↗
Consolidated statement of comprehensive income
13 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Comprehensive income | |||
| PROFIT FOR THE FINANCIAL YEAR$’000 | 582,273 | 519,512 | PDF p. 149 |
| Other comprehensive income; items that may be reclassified subsequently to profit or loss | |||
| Effective portion of changes in fair value of cash flow hedges$’000 | (184,309) | (407,536) | PDF p. 149 |
| Net change in fair value of cash flow hedges reclassified to profit or loss$’000 | 50,791 | 87,850 | PDF p. 149 |
| Foreign currency translation$’000 | (179,974) | 118,329 | PDF p. 149 |
| Share of other comprehensive income of joint ventures and associates$’000 | (32,080) | (40,111) | PDF p. 149 |
| Realisation of foreign currency translation reserve and hedging reserve on disposal of a subsidiary, a joint venture and associates$’000 | 20,302 | 15,230 | PDF p. 149 |
| Subtotal$’000 | (325,270) | (226,238) | PDF p. 149 |
| Other comprehensive income; items that will not be reclassified subsequently to profit or loss | |||
| Change in fair value of equity investments at fair value through other comprehensive income$’000 | (4,202) | (6,956) | PDF p. 149 |
| Comprehensive income | |||
| Total other comprehensive income for the financial year, net of tax$’000 | (329,472) | (233,194) | PDF p. 149 |
| TOTAL COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR$’000 | 252,801 | 286,318 | PDF p. 149 |
| Attributable comprehensive income | |||
| Owners of the Company$’000 | 10,612 | (31,568) | PDF p. 149 |
| Non-controlling interests$’000 | 242,189 | 317,886 | PDF p. 149 |
| Comprehensive income | |||
| TOTAL COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR$’000 | 252,801 | 286,318 | PDF p. 149 |
Definitions & sources
Original report: PDF p. 149 ↗
Statements of financial position
45 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Non-current assets | |||||
| Investment properties$’000 | 24,577,385 | 24,111,245 | 2,220 | 2,130 | PDF p. 150 |
| Property, plant and equipment$’000 | 2,029,818 | 2,151,743 | 9 | 11 | PDF p. 150 |
| Investments in | |||||
| – Subsidiaries$’000 | – | – | 1,659,576 | 1,664,526 | PDF p. 150 |
| – Joint ventures$’000 | 3,811,765 | 3,388,850 | 60,632 | 60,632 | PDF p. 150 |
| – Associates$’000 | 1,327,522 | 1,270,628 | – | – | PDF p. 150 |
| Non-current assets | |||||
| Other non-current assets$’000 | 53,115 | 97,996 | 25,702 | 22,783 | PDF p. 150 |
| Intangible assets$’000 | 571,585 | 577,532 | – | – | PDF p. 150 |
| Other receivables$’000 | 684,857 | 619,785 | 4,525,123 | 4,646,352 | PDF p. 150 |
| Deferred tax assets$’000 | 43,422 | 40,905 | – | – | PDF p. 150 |
| Derivative financial instruments$’000 | 91,266 | 163,279 | 147,402 | 129,058 | PDF p. 150 |
| Subtotal$’000 | 33,190,735 | 32,421,963 | 6,420,664 | 6,525,492 | PDF p. 150 |
| Current assets | |||||
| Properties held for sale$’000 | 2,774,517 | 3,338,653 | – | – | PDF p. 150 |
| Contract assets$’000 | 76,066 | 108,813 | – | – | PDF p. 150 |
| Other current assets$’000 | 100,029 | 75,820 | – | – | PDF p. 150 |
| Trade and other receivables$’000 | 716,541 | 851,273 | 316,211 | 249,564 | PDF p. 150 |
| Derivative financial instruments$’000 | 29,187 | 54,362 | 246 | – | PDF p. 150 |
| Bank deposits$’000 | 6,933 | 1,289 | – | – | PDF p. 150 |
| Cash and cash equivalents$’000 | 2,350,382 | 2,717,191 | 9,319 | 12,192 | PDF p. 150 |
| Assets held for sale$’000 | 503,228 | 67,748 | – | – | PDF p. 150 |
| Subtotal$’000 | 6,556,883 | 7,215,149 | 325,776 | 261,756 | PDF p. 150 |
| Financial position | |||||
| TOTAL ASSETS$’000 | 39,747,618 | 39,637,112 | 6,746,440 | 6,787,248 | PDF p. 150 |
| Current liabilities | |||||
| Trade and other payables$’000 | 2,299,577 | 2,250,060 | 280,838 | 218,672 | PDF p. 150 |
| Contract liabilities$’000 | 2,022 | 6,993 | – | – | PDF p. 150 |
| Derivative financial instruments$’000 | 43,237 | 9,754 | 246 | – | PDF p. 150 |
| Provision for tax$’000 | 163,575 | 197,371 | 1,016 | 4,403 | PDF p. 150 |
| Lease liabilities$’000 | 27,214 | 34,405 | – | – | PDF p. 150 |
| Loans and borrowings$’000 | 2,796,697 | 3,618,157 | – | – | PDF p. 150 |
| Liabilities held for sale$’000 | 1,201 | – | – | – | PDF p. 150 |
| Subtotal$’000 | 5,333,523 | 6,116,740 | 282,100 | 223,075 | PDF p. 150 |
| Financial position | |||||
| NET CURRENT ASSETS$’000 | 1,223,360 | 1,098,409 | 43,676 | 38,681 | PDF p. 150 |
| Non-current liabilities | |||||
| Other payables$’000 | 263,098 | 278,103 | 476,700 | 430,010 | PDF p. 150 |
| Derivative financial instruments$’000 | 361,457 | 234,056 | 147,402 | 129,058 | PDF p. 150 |
| Deferred tax liabilities$’000 | 981,760 | 1,064,667 | – | – | PDF p. 150 |
| Lease liabilities$’000 | 793,164 | 802,798 | – | – | PDF p. 150 |
| Loans and borrowings$’000 | 14,866,104 | 13,670,976 | – | – | PDF p. 150 |
| Subtotal$’000 | 17,265,583 | 16,050,600 | 624,102 | 559,068 | PDF p. 150 |
| Financial position | |||||
| NET ASSETS$’000 | 17,148,512 | 17,469,772 | 5,840,238 | 6,005,105 | PDF p. 150 |
| Share capital and reserves | |||||
| Share capital$’000 | 2,987,858 | 2,987,858 | 2,987,858 | 2,987,858 | PDF p. 150 |
| Retained earnings$’000 | 7,499,391 | 7,543,435 | 2,828,826 | 2,996,168 | PDF p. 150 |
| Other reserves$’000 | (1,190,000) | (896,875) | 23,554 | 21,079 | PDF p. 150 |
| Equity attributable to owners of the Company$’000 | 9,297,249 | 9,634,418 | 5,840,238 | 6,005,105 | PDF p. 150 |
| Perpetual securities$’000 | 496,396 | 297,978 | – | – | PDF p. 150 |
| Subtotal$’000 | 9,793,645 | 9,932,396 | 5,840,238 | 6,005,105 | PDF p. 150 |
| Non-controlling interests$’000 | 7,354,867 | 7,537,376 | – | – | PDF p. 150 |
| TOTAL EQUITY$’000 | 17,148,512 | 17,469,772 | 5,840,238 | 6,005,105 | PDF p. 150 |
Definitions & sources
Original report: PDF p. 150 ↗
Consolidated statement of changes in equity — Group, 2025
27 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, Share capital (Note 28) | 2025Group, Retained earnings | 2025Group, Other reserves (Note 29) | 2025Group, Equity attributable to owners of the Company | 2025Group, Perpetual securities (Note 31) | 2025Group, Total | 2025Group, Non-controlling interests | 2025Group, Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|
| Opening balance | |||||||||
| As at 1 October 2024$’000 | 2,987,858 | 7,543,435 | (896,875) | 9,634,418 | 297,978 | 9,932,396 | 7,537,376 | 17,469,772 | PDF p. 151 |
| Profit for the financial year | |||||||||
| Profit for the financial year$’000 | – | 243,098 | – | 243,098 | – | 243,098 | 339,175 | 582,273 | PDF p. 151 |
| Other comprehensive income | |||||||||
| Effective portion of changes in fair value of cash flow hedges$’000 | – | – | (137,447) | (137,447) | – | (137,447) | (46,862) | (184,309) | PDF p. 151 |
| Net change in fair value of cash flow hedges reclassified to profit or loss$’000 | – | – | 44,502 | 44,502 | – | 44,502 | 6,289 | 50,791 | PDF p. 151 |
| Foreign currency translation$’000 | – | – | (132,387) | (132,387) | – | (132,387) | (47,587) | (179,974) | PDF p. 151 |
| Share of other comprehensive income of joint ventures and associates$’000 | – | – | (25,893) | (25,893) | – | (25,893) | (6,187) | (32,080) | PDF p. 151 |
| Realisation of foreign currency translation reserve and hedging reserve on disposal of a subsidiary and a joint venture$’000 | – | – | 20,302 | 20,302 | – | 20,302 | – | 20,302 | PDF p. 151 |
| Change in fair value of equity investments at fair value through other comprehensive income$’000 | – | – | (1,563) | (1,563) | – | (1,563) | (2,639) | (4,202) | PDF p. 151 |
| Other comprehensive income subtotal | |||||||||
| Other comprehensive income for the financial year$’000 | – | – | (232,486) | (232,486) | – | (232,486) | (96,986) | (329,472) | PDF p. 151 |
| Total comprehensive income | |||||||||
| Total comprehensive income for the financial year$’000 | – | 243,098 | (232,486) | 10,612 | – | 10,612 | 242,189 | 252,801 | PDF p. 151 |
| Contributions by and distributions to owners and other capital transactions | |||||||||
| Employee share-based payment expense$’000 | – | – | (803) | (803) | – | (803) | – | (803) | PDF p. 151 |
| Reclassification of share-based compensation plan from equity-settled to cash-settled$’000 | – | 445 | (445) | – | – | – | – | – | PDF p. 151 |
| Dividend paid (Note 32)$’000 | – | (176,672) | – | (176,672) | – | (176,672) | (398,416) | (575,088) | PDF p. 151 |
| Transfer between reserves$’000 | – | (10,432) | 10,432 | – | – | – | – | – | PDF p. 151 |
| Contributions by and distributions to owners and other capital transactions subtotal | |||||||||
| Total contributions by and distributions to owners and other capital transactions$’000 | – | (186,659) | 9,184 | (177,475) | – | (177,475) | (398,416) | (575,891) | PDF p. 151 |
| Changes in ownership interests in subsidiaries | |||||||||
| Issue of units/shares to non-controlling interests$’000 | – | – | – | – | – | – | 357,937 | 357,937 | PDF p. 151 |
| Capital reduction by subsidiaries with non-controlling interests$’000 | – | – | – | – | – | – | (516) | (516) | PDF p. 151 |
| Disposal of a subsidiary with non-controlling interests$’000 | – | – | – | – | – | – | (51,397) | (51,397) | PDF p. 151 |
| Change in interests in subsidiaries without change in control$’000 | – | (85,249) | (69,823) | (155,072) | – | (155,072) | (328,880) | (483,952) | PDF p. 151 |
| Issuance costs incurred by a subsidiary$’000 | – | (2,094) | – | (2,094) | – | (2,094) | (3,426) | (5,520) | PDF p. 151 |
| Changes in ownership interests in subsidiaries subtotal | |||||||||
| Total changes in ownership interests in subsidiaries$’000 | – | (87,343) | (69,823) | (157,166) | – | (157,166) | (26,282) | (183,448) | PDF p. 151 |
| Transactions with owners | |||||||||
| Total transactions with owners in their capacity as owners$’000 | – | (274,002) | (60,639) | (334,641) | – | (334,641) | (424,698) | (759,339) | PDF p. 151 |
| Contributions by and distributions to perpetual securities holders | |||||||||
| Issuance of perpetual securities, net of costs$’000 | – | – | – | – | 198,418 | 198,418 | – | 198,418 | PDF p. 151 |
| Distributions attributable to perpetual securities holders$’000 | – | (13,140) | – | (13,140) | 13,140 | – | – | – | PDF p. 151 |
| Distributions paid to perpetual securities holders$’000 | – | – | – | – | (13,140) | (13,140) | – | (13,140) | PDF p. 151 |
| Contributions by and distributions to perpetual securities holders subtotal | |||||||||
| Total contributions by and distributions to perpetual securities holders$’000 | – | (13,140) | – | (13,140) | 198,418 | 185,278 | – | 185,278 | PDF p. 151 |
| Closing balance | |||||||||
| As at 30 September 2025$’000 | 2,987,858 | 7,499,391 | (1,190,000) | 9,297,249 | 496,396 | 9,793,645 | 7,354,867 | 17,148,512 | PDF p. 151 |
Definitions & sources
Original report: PDF p. 151 ↗
For the financial year ended 30 September 2025.
The accompanying notes form an integral part of the financial statements.
Consolidated statement of changes in equity — Group, 2024
26 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group, Share capital (Note 28) | 2024Group, Retained earnings | 2024Group, Other reserves (Note 29) | 2024Group, Equity attributable to owners of the Company | 2024Group, Perpetual securities (Note 31) | 2024Group, Total | 2024Group, Non-controlling interests | 2024Group, Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|
| Opening balance | |||||||||
| As at 1 October 2023$’000 | 2,987,858 | 7,568,732 | (661,682) | 9,894,908 | 896,134 | 10,791,042 | 7,408,871 | 18,199,913 | PDF p. 152 |
| Profit for the financial year | |||||||||
| Profit for the financial year$’000 | – | 206,331 | – | 206,331 | – | 206,331 | 313,181 | 519,512 | PDF p. 152 |
| Other comprehensive income | |||||||||
| Effective portion of changes in fair value of cash flow hedges$’000 | – | – | (341,502) | (341,502) | – | (341,502) | (66,034) | (407,536) | PDF p. 152 |
| Net change in fair value of cash flow hedges reclassified to profit or loss$’000 | – | – | 88,196 | 88,196 | – | 88,196 | (346) | 87,850 | PDF p. 152 |
| Foreign currency translation$’000 | – | – | 50,693 | 50,693 | – | 50,693 | 67,636 | 118,329 | PDF p. 152 |
| Share of other comprehensive income of joint ventures and associates$’000 | – | – | (29,378) | (29,378) | – | (29,378) | (10,733) | (40,111) | PDF p. 152 |
| Realisation of foreign currency translation reserve on disposal of associates$’000 | – | – | 946 | 946 | – | 946 | 14,284 | 15,230 | PDF p. 152 |
| Change in fair value of equity investments at fair value through other comprehensive income$’000 | – | – | (6,854) | (6,854) | – | (6,854) | (102) | (6,956) | PDF p. 152 |
| Other comprehensive income subtotal | |||||||||
| Other comprehensive income for the financial year$’000 | – | – | (237,899) | (237,899) | – | (237,899) | 4,705 | (233,194) | PDF p. 152 |
| Total comprehensive income | |||||||||
| Total comprehensive income for the financial year$’000 | – | 206,331 | (237,899) | (31,568) | – | (31,568) | 317,886 | 286,318 | PDF p. 152 |
| Contributions by and distributions to owners and other capital transactions | |||||||||
| Employee share-based payment expense$’000 | – | – | (279) | (279) | – | (279) | – | (279) | PDF p. 152 |
| Reclassification of share-based compensation plan from equity-settled to cash-settled$’000 | – | 1,356 | (1,215) | 141 | – | 141 | – | 141 | PDF p. 152 |
| Dividend paid (Note 32)$’000 | – | (176,672) | – | (176,672) | – | (176,672) | (377,684) | (554,356) | PDF p. 152 |
| Transfer between reserves$’000 | – | (6,997) | 6,997 | – | – | – | – | – | PDF p. 152 |
| Contributions by and distributions to owners and other capital transactions subtotal | |||||||||
| Total contributions by and distributions to owners and other capital transactions$’000 | – | (182,313) | 5,503 | (176,810) | – | (176,810) | (377,684) | (554,494) | PDF p. 152 |
| Changes in ownership interests in subsidiaries | |||||||||
| Issue of units/shares to non-controlling interests$’000 | – | – | – | – | – | – | 206,183 | 206,183 | PDF p. 152 |
| Capital reduction by subsidiaries with non-controlling interests$’000 | – | – | – | – | – | – | (71) | (71) | PDF p. 152 |
| Change in interests in subsidiaries without change in control$’000 | – | (3,006) | (2,797) | (5,803) | – | (5,803) | (15,772) | (21,575) | PDF p. 152 |
| Issuance costs incurred by subsidiaries$’000 | – | (1,327) | – | (1,327) | – | (1,327) | (2,037) | (3,364) | PDF p. 152 |
| Changes in ownership interests in subsidiaries subtotal | |||||||||
| Total changes in ownership interests in subsidiaries$’000 | – | (4,333) | (2,797) | (7,130) | – | (7,130) | 188,303 | 181,173 | PDF p. 152 |
| Transactions with owners | |||||||||
| Total transactions with owners in their capacity as owners$’000 | – | (186,646) | 2,706 | (183,940) | – | (183,940) | (189,381) | (373,321) | PDF p. 152 |
| Contributions by and distributions to perpetual securities holders | |||||||||
| Redemption of perpetual securities$’000 | – | (1,844) | – | (1,844) | (598,156) | (600,000) | – | (600,000) | PDF p. 152 |
| Distributions attributable to perpetual securities holders$’000 | – | (43,138) | – | (43,138) | 43,138 | – | – | – | PDF p. 152 |
| Distributions paid to perpetual securities holders$’000 | – | – | – | – | (43,138) | (43,138) | – | (43,138) | PDF p. 152 |
| Contributions by and distributions to perpetual securities holders subtotal | |||||||||
| Total contributions by and distributions to perpetual securities holders$’000 | – | (44,982) | – | (44,982) | (598,156) | (643,138) | – | (643,138) | PDF p. 152 |
| Closing balance | |||||||||
| As at 30 September 2024$’000 | 2,987,858 | 7,543,435 | (896,875) | 9,634,418 | 297,978 | 9,932,396 | 7,537,376 | 17,469,772 | PDF p. 152 |
Definitions & sources
Original report: PDF p. 152 ↗
For the financial year ended 30 September 2025.
The comparative 2024 statement is on physical page 152. Its original page text was truncated in the tool response, so its rows are not extracted here.
Consolidated statement of cash flows — page 153
34 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Cash flows from operating activities | |||
| Profit for the financial year$’000 | 582,273 | 519,512 | PDF p. 153 |
| Cash flows from operating activities — Adjustments for | |||
| Depreciation of property, plant and equipment and right-of-use assets$’000 | 74,435 | 74,098 | PDF p. 153 |
| Fair value change and gain on disposal of investment properties$’000 | (9,395) | 198,630 | PDF p. 153 |
| Gain on change in use of properties held for sale$’000 | (39,794) | – | PDF p. 153 |
| Share of results of joint ventures and associates, net of tax$’000 | (217,825) | (284,493) | PDF p. 153 |
| Amortisation of intangible assets$’000 | 4,977 | 5,521 | PDF p. 153 |
| Write-off of intangible assets$’000 | 44 | 141 | PDF p. 153 |
| Reversal of impairment of property, plant and equipment$’000 | – | (33,772) | PDF p. 153 |
| (Gain)/Loss on disposal of property, plant and equipment$’000 | (8,243) | 51 | PDF p. 153 |
| Net allowance for impairment on trade receivables$’000 | 6,270 | 4,119 | PDF p. 153 |
| Bad debts written off$’000 | 913 | 842 | PDF p. 153 |
| Net write-down to net realisable value of properties held for sale$’000 | 58,782 | 52,342 | PDF p. 153 |
| Employee share-based payment expense$’000 | 30,102 | 26,632 | PDF p. 153 |
| Gain on disposal of subsidiaries$’000 | (34,063) | (15,963) | PDF p. 153 |
| Gain on disposal of joint ventures$’000 | – | (6,712) | PDF p. 153 |
| Loss on disposal of associates$’000 | – | 15,816 | PDF p. 153 |
| Net fair value change on derivative financial instruments$’000 | 54,822 | 97,719 | PDF p. 153 |
| Net fair value change on debt instrument at fair value through profit or loss$’000 | (666) | (904) | PDF p. 153 |
| Impairment of investment in a joint venture$’000 | 20,000 | – | PDF p. 153 |
| Interest income$’000 | (84,467) | (103,317) | PDF p. 153 |
| Interest expense$’000 | 662,049 | 627,775 | PDF p. 153 |
| Tax (credit)/expense$’000 | (1,200) | 132,875 | PDF p. 153 |
| Exchange difference$’000 | 3,957 | (95,111) | PDF p. 153 |
| Cash flows from operating activities | |||
| Operating profit before working capital changes$’000 | 1,102,971 | 1,215,801 | PDF p. 153 |
| Change in trade and other receivables$’000 | (54,858) | (55,940) | PDF p. 153 |
| Change in contract costs$’000 | 5,476 | 22,493 | PDF p. 153 |
| Change in contract assets$’000 | 32,747 | 104,252 | PDF p. 153 |
| Change in contract liabilities$’000 | (4,971) | (254,027) | PDF p. 153 |
| Change in properties held for sale$’000 | 23,451 | 379,889 | PDF p. 153 |
| Change in inventories$’000 | 414 | (372) | PDF p. 153 |
| Change in trade and other payables$’000 | 44,339 | 154,651 | PDF p. 153 |
| Cash generated from operations$’000 | 1,149,569 | 1,566,747 | PDF p. 153 |
| Income taxes paid$’000 | (118,918) | (322,558) | PDF p. 153 |
| Net cash generated from operating activities$’000 | 1,030,651 | 1,244,189 | PDF p. 153 |
Definitions & sources
Original report: PDF p. 153 ↗
For the financial year ended 30 September 2025.
The accompanying notes form an integral part of the financial statements.
Consolidated statement of cash flows — page 154
41 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Cash flows from investing activities | |||
| Purchase of/development expenditure on investment properties$’000 | (846,325) | (1,004,029) | PDF p. 154 |
| Purchase of property, plant and equipment$’000 | (44,826) | (59,163) | PDF p. 154 |
| Proceeds from disposal of investment properties$’000 | 553,154 | 550,692 | PDF p. 154 |
| Proceeds from disposal of property, plant and equipment$’000 | 91,950 | 533 | PDF p. 154 |
| Investments in/loans to joint ventures and associates$’000 | (462,757) | (448,943) | PDF p. 154 |
| Repayments from loans to joint venture partner, joint ventures and associates$’000 | 397,779 | 210,696 | PDF p. 154 |
| Dividends from joint ventures and associates$’000 | 154,939 | 128,382 | PDF p. 154 |
| Settlement of hedging instruments$’000 | 25,773 | (30,125) | PDF p. 154 |
| Proceeds from disposal/(purchase) of financial assets$’000 | 8,177 | (20) | PDF p. 154 |
| Purchase of intangible assets$’000 | (4,037) | (5,000) | PDF p. 154 |
| Interest received$’000 | 104,747 | 103,003 | PDF p. 154 |
| Acquisition of a subsidiary, net of cash acquired (Note A)$’000 | (138,982) | (2,565) | PDF p. 154 |
| Acquisition of non-controlling interests$’000 | – | (21,575) | PDF p. 154 |
| Disposal of subsidiaries, net of cash disposed of (Note B)$’000 | 349,056 | 188,710 | PDF p. 154 |
| Proceeds from disposal of a joint venture and associates$’000 | – | 51,155 | PDF p. 154 |
| Placement of structured deposits$’000 | (5,569) | (766) | PDF p. 154 |
| Net cash generated from/(used in) investing activities$’000 | 183,079 | (339,015) | PDF p. 154 |
| Cash flows from financing activities | |||
| Issue of units/shares to non-controlling interests$’000 | 357,421 | 206,112 | PDF p. 154 |
| Change in interests in subsidiaries without change in control$’000 | (483,952) | – | PDF p. 154 |
| Dividends paid to non-controlling interests$’000 | (398,416) | (377,684) | PDF p. 154 |
| Dividends paid to shareholders$’000 | (176,672) | (176,672) | PDF p. 154 |
| Payment of lease liabilities$’000 | (23,206) | (59,689) | PDF p. 154 |
| Proceeds from bank borrowings, net of costs$’000 | 8,268,309 | 7,613,246 | PDF p. 154 |
| Repayments of bank borrowings$’000 | (8,642,442) | (7,051,121) | PDF p. 154 |
| Proceeds from issue of medium term notes and other bonds, net of costs$’000 | 736,912 | 561,210 | PDF p. 154 |
| Repayments of medium term notes and other bonds$’000 | (729,458) | (317,694) | PDF p. 154 |
| Proceeds from issue of perpetual securities, net of costs$’000 | 198,418 | – | PDF p. 154 |
| Distributions to perpetual securities holders$’000 | (13,140) | (43,138) | PDF p. 154 |
| Redemption of perpetual securities$’000 | – | (600,000) | PDF p. 154 |
| Interest paid$’000 | (664,667) | (598,023) | PDF p. 154 |
| Issuance costs$’000 | (5,520) | (3,364) | PDF p. 154 |
| Net cash used in financing activities$’000 | (1,576,413) | (846,817) | PDF p. 154 |
| Cash flows | |||
| Net change in cash and cash equivalents$’000 | (362,683) | 58,357 | PDF p. 154 |
| Cash and cash equivalents as at beginning of financial year$’000 | 2,716,431 | 2,657,534 | PDF p. 154 |
| Effects of exchange rate movements on opening cash and cash equivalents$’000 | (4,034) | 540 | PDF p. 154 |
| Cash and cash equivalents as at end of financial year$’000 | 2,349,714 | 2,716,431 | PDF p. 154 |
| Cash and cash equivalents as at end of financial year | |||
| Fixed deposits, current$’000 | 551,154 | 438,837 | PDF p. 154 |
| Cash and bank balances$’000 | 1,799,228 | 2,278,354 | PDF p. 154 |
| Cash/bank balances plus current fixed deposits — original unlabelled subtotal (Note23); before overdrafts | |||
| Subtotal$’000 | 2,350,382 | 2,717,191 | PDF p. 154 |
| Cash and cash equivalents as at end of financial year | |||
| Bank overdrafts, unsecured$’000 | (668) | (760) | PDF p. 154 |
| Cash and cash equivalents as at end of financial year$’000 | 2,349,714 | 2,716,431 | PDF p. 154 |
Definitions & sources
Original report: PDF p. 154 ↗
For the financial year ended 30 September 2025.
The accompanying notes form an integral part of the financial statements.
Financial highlights
16 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Financial highlights; scope not explicitly labelled | 2022Financial highlights; scope not explicitly labelled | 2023Financial highlights; scope not explicitly labelled | 2024Financial highlights; scope not explicitly labelled | 2025Financial highlights; scope not explicitly labelled | Source |
|---|---|---|---|---|---|---|
| Financial highlights | ||||||
| Revenue$’m | 3,763.8 | 3,877.0 | 3,947.1 | 4,214.8 | 3,403.5 | PDF p. 13 |
| Profit before interest, fair value change on investment properties, tax and exceptional items$’m | 1,424.7 | 1,249.2 | 1,313.2 | 1,352.2 | 1,186.2 | PDF p. 13 |
| Profit before tax | ||||||
| Before fair value change and exceptional items$’m | 1,048.0 | 918.9 | 884.1 | 827.8 | 608.7 | PDF p. 13 |
| After fair value change and exceptional items$’m | 2,027.4 | 2,129.5 | 400.8 | 652.4 | 581.1 | PDF p. 13 |
| Attributable profit | ||||||
| Before fair value change and exceptional items$’m | 399.5 | 398.8 | 350.3 | 218.2 | 239.4 | PDF p. 13 |
| After fair value change and exceptional items$’m | 833.1 | 928.3 | 173.1 | 206.3 | 243.1 | PDF p. 13 |
| Earnings per share | ||||||
| Attributable profit before fair value change and exceptional itemscents | 10.0 | 8.7 | 7.7 | 4.5 | 5.8 | PDF p. 13 |
| Attributable profit after fair value change and exceptional itemscents | 22.6 | 22.2 | 3.1 | 4.2 | 5.9 | PDF p. 13 |
| Financial highlights | ||||||
| Dividend per ordinary sharecents | 2.0 | 3.0 | 4.5 | 4.5 | 4.5 | PDF p. 13 |
| Net asset value (shareholders’ equity)$’m | 9,544.2 | 10,345.9 | 9,894.9 | 9,634.4 | 9,297.2 | PDF p. 13 |
| Net asset value per share$ per share | 2.44 | 2.64 | 2.52 | 2.45 | 2.37 | PDF p. 13 |
| Return on average shareholders’ equity | ||||||
| Attributable profit before fair value change and exceptional items% | 4.0 | 3.4 | 3.0 | 1.8 | 2.4 | PDF p. 13 |
| Attributable profit after fair value change and exceptional items% | 9.1 | 8.8 | 1.2 | 1.7 | 2.4 | PDF p. 13 |
| Financial highlights | ||||||
| Net debt over total equity% | 73.7 | 64.8 | 75.8 | 83.4 | 89.2 | PDF p. 13 |
| Net debt over property assets% | 39.7 | 37.5 | 40.4 | 42.1 | 43.7 | PDF p. 13 |
| Net interest covertimes | 3.8 | 3.8 | 3.1 | 2.6 | 2.1 | PDF p. 13 |
Definitions & sources
Original report: PDF p. 13 ↗
1 Earnings after distributions to perpetual securities holders over the weighted average number of ordinary shares in issue. In 2021, 2022, 2023, 2024 and 2025, the weighted average number of shares was 3,432,010,000, 3,923,832,000, 3,926,042,000, 3,926,042,000 and 3,926,042,000, respectively. The weighted average number of ordinary shares in issue in 2021 has been adjusted for the bonus element arising from the rights issue.
2 Return after distributions to perpetual securities holders over the average shareholders’ equity.
3 Includes net debt of consolidated SGX-listed REITs.
4 Includes non-controlling interests (primarily related to consolidated SGX-listed REITs) and perpetual securities.
5 Property assets comprise investment properties, property, plant and equipment, investments in joint ventures and associates, shareholder loans to/from joint ventures and associates, properties held for sale and assets held for sale.
6 Calculated by dividing PBIT over net interest for the financial year. Net interest refers to net interest in the statement of profit or loss excluding mark-to-market adjustments on interest rate derivatives and capitalised interest.
Source Financial highlights does not explicitly label Group/Company scope. Original row units and 2021–2025 order are retained.
Selected Financials
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025FY25 | 2024FY24 | Source |
|---|---|---|---|
| Selected Financials | |||
| Revenue$ million | 3,403.5 | 4,214.8 | PDF p. 356 |
| PBIT1$ million | 1,186.2 | 1,352.2 | PDF p. 356 |
| Attributable profit before fair value change and exceptional items (“APBFE”)$ million | 239.4 | 218.2 | PDF p. 356 |
| Fair value (“FV”) change (net)$ million | 37.2 | (27.3) | PDF p. 356 |
| Exceptional items (“EI”)$ million | (33.5) | 15.4 | PDF p. 356 |
| Attributable profit2$ million | 243.1 | 206.3 | PDF p. 356 |
Definitions & sources
Original report: PDF p. 356 ↗
1 PBIT is not expanded in the Selected Financials table. Footnote 10 on this page states: “Excluding the Group’s share of FV change and EI of JVs and associates.”
2 The page does not provide a definition for this row in the Selected Financials table. The multi-year Financial highlights table distinguishes attributable profit before and after fair value change and exceptional items.
Full source footnotes printed on page 356: 11 521 567 | 8 Includes total value of assets; call-option properties based on date of 13 Based on FPL closing share price of $0.885 on 12 Nov 24. | 9 Includes total value of assets sold to third parties; call-option 15 Attributable profit before fair value change and exceptional items. | 10 Excluding the Group’s share of FV change and EI of JVs and associates. 18 Includes non-controlling interests (primarily related to consolidated | 11 Calculated by dividing PBIT over net interest for the financial year. SGX-listed REITs) and perpetual securities. | 12 Consists of China and the UK. 19 Includes debt that is hedged.
Key Ratios
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025As at 30 Sep 25 | 2024As at 30 Sep 24 | Source |
|---|---|---|---|
| Key Ratios | |||
| Net asset value per share$ per share | 2.37 | 2.45 | PDF p. 356 |
| Earnings per share (“EPS”) after FV change and EIcents per share | 5.9 | 4.2 | PDF p. 356 |
| Net interest cover11times | 2.1 | 2.6 | PDF p. 356 |
Definitions & sources
Original report: PDF p. 356 ↗
11 Calculated by dividing PBIT over net interest for the financial year.
Full source footnotes printed on page 356: 11 521 567 | 8 Includes total value of assets; call-option properties based on date of 13 Based on FPL closing share price of $0.885 on 12 Nov 24. | 9 Includes total value of assets sold to third parties; call-option 15 Attributable profit before fair value change and exceptional items. | 10 Excluding the Group’s share of FV change and EI of JVs and associates. 18 Includes non-controlling interests (primarily related to consolidated | 11 Calculated by dividing PBIT over net interest for the financial year. SGX-listed REITs) and perpetual securities. | 12 Consists of China and the UK. 19 Includes debt that is hedged.
Dividends
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025FY25 | 2024FY24 | Source |
|---|---|---|---|
| Dividends | |||
| First and final dividendSingapore cents | 4.5 | 4.5 | PDF p. 356 |
| Dividend yield% | 4.3 | 5.1 | PDF p. 356 |
| Payout ratio (based on Core Earnings15,16 )% (approximately) | 74 | 81 | PDF p. 356 |
Definitions & sources
Original report: PDF p. 356 ↗
13 Based on FPL closing share price of $0.885 on 12 Nov 24.
14 Based on FPL closing share price of $1.04 on 13 Nov 25.
15 Attributable profit before fair value change and exceptional items.
16 Before distributions to perpetual securities holders.
Full source footnotes printed on page 356: 11 521 567 | 8 Includes total value of assets; call-option properties based on date of 13 Based on FPL closing share price of $0.885 on 12 Nov 24. | 9 Includes total value of assets sold to third parties; call-option 15 Attributable profit before fair value change and exceptional items. | 10 Excluding the Group’s share of FV change and EI of JVs and associates. 18 Includes non-controlling interests (primarily related to consolidated | 11 Calculated by dividing PBIT over net interest for the financial year. SGX-listed REITs) and perpetual securities. | 12 Consists of China and the UK. 19 Includes debt that is hedged.
Payout ratios are approximate: the original report prints ~74% for FY25 and ~81% for FY24. Core Earnings is APBFE before distributions to perpetual securities holders (source notes 15–16).
Capital Management
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025As at 30 Sep 25 | 2024As at 30 Sep 24 | 2025Change; original row unit | Source |
|---|---|---|---|---|
| Capital Management | ||||
| Net debt17 / Total equity18% (2025/2024); percentage points (change) | 89.2 | 83.4 | 5.8 | PDF p. 356 |
| Net debt17 / Property assets% (2025/2024); percentage points (change) | 43.7 | 42.1 | 1.6 | PDF p. 356 |
| Fixed rate debt19% (2025/2024); percentage points (change) | 75.0 | 72.9 | 2.1 | PDF p. 356 |
| Weighted average debt maturityyears | 2.5 | 2.5 | – | PDF p. 356 |
| Average cost of debt on portfolio basis% p.a. | 4.0 | 3.9 | 0.1 | PDF p. 356 |
Definitions & sources
Original report: PDF p. 356 ↗
17 Includes net debt of consolidated SGX-listed REITs.
18 Includes non-controlling interests (primarily related to consolidated SGX-listed REITs) and perpetual securities.
19 Includes debt that is hedged.
Full source footnotes printed on page 356: 11 521 567 | 8 Includes total value of assets; call-option properties based on date of 13 Based on FPL closing share price of $0.885 on 12 Nov 24. | 9 Includes total value of assets sold to third parties; call-option 15 Attributable profit before fair value change and exceptional items. | 10 Excluding the Group’s share of FV change and EI of JVs and associates. 18 Includes non-controlling interests (primarily related to consolidated | 11 Calculated by dividing PBIT over net interest for the financial year. SGX-listed REITs) and perpetual securities. | 12 Consists of China and the UK. 19 Includes debt that is hedged.
The first three change figures are percentage points, not percent changes. The original upward markers indicate increases; these printed changes are retained with their own units.
Average cost of debt is stated in % p.a. in the original source, including its change column. Weighted average debt maturity is in years.
PBIT by Business Segments
10 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025FY25 | 2024FY24 | Source |
|---|---|---|---|
| Profit before interest, fair value change, tax and exceptional items by business segment | |||
| Singapore$ million | 486.8 | 501.1 | PDF p. 356 |
| Australia$ million | 94.4 | 78.3 | PDF p. 356 |
| Industrial$ million | 414.1 | 409.3 | PDF p. 356 |
| Hospitality$ million | 111.2 | 132.6 | PDF p. 356 |
| Thailand & Vietnam$ million | 125.8 | 191.2 | PDF p. 356 |
| Others12$ million | 71.2 | 153.3 | PDF p. 356 |
| China$ million | 51.7 | 184.8 | PDF p. 356 |
| UK$ million | 19.5 | (31.5) | PDF p. 356 |
| Corporate and others$ million | (117.3) | (113.6) | PDF p. 356 |
| Total$ million | 1,186.2 | 1,352.2 | PDF p. 356 |
Definitions & sources
Original report: PDF p. 356 ↗
PBIT¹ by Business Segments ($ million). Footnote ¹ appears as a superscript marker in the heading and is not part of the label.
Full source footnotes printed on page 356: 11 521 567 | 8 Includes total value of assets; call-option properties based on date of 13 Based on FPL closing share price of $0.885 on 12 Nov 24. | 9 Includes total value of assets sold to third parties; call-option 15 Attributable profit before fair value change and exceptional items. | 10 Excluding the Group’s share of FV change and EI of JVs and associates. 18 Includes non-controlling interests (primarily related to consolidated | 11 Calculated by dividing PBIT over net interest for the financial year. SGX-listed REITs) and perpetual securities. | 12 Consists of China and the UK. 19 Includes debt that is hedged.
Others comprises China and UK (source note 12); the two constituent rows must not be added again when summing business segments.
Sustaining value (stacked chart) — printed five-year chart values
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group; original Sustaining value (stacked chart) | 2022Group; original Sustaining value (stacked chart) | 2023Group; original Sustaining value (stacked chart) | 2024Group; original Sustaining value (stacked chart) | 2025Group; original Sustaining value (stacked chart) | Source |
|---|---|---|---|---|---|---|
| Sustaining value (stacked chart) — stacked-bar total | ||||||
| Subtotal$ million | 1,442 | 1,412 | 1,286 | 1,387 | 1,173 | PDF p. 356 |
| Sustaining value (stacked chart) — original legend series | ||||||
| Realised net fair value change before tax$ million | 80 | 177 | 25 | 136 | 46 | PDF p. 356 |
| PBIT from non-recurring income$ million | 442 | 292 | 275 | 322 | 161 | PDF p. 356 |
| PBIT from recurring income$ million | 920 | 943 | 986 | 929 | 966 | PDF p. 356 |
Definitions & sources
Original report: PDF p. 356 ↗
Amounts are $ million. Original bar values, year positions and legend series were independently rebound and visually reviewed. Only printed year/series values are included; unprinted segments are not assigned zero.
These charts have their own reported definitions. Sustaining-value series includes realised net fair-value changes; it must not be substituted for the separate financial-statement PBIT measure.
Capital recycling initiatives (asset values) — printed five-year chart values
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group; original Capital recycling initiatives (asset values) | 2022Group; original Capital recycling initiatives (asset values) | 2023Group; original Capital recycling initiatives (asset values) | 2024Group; original Capital recycling initiatives (asset values) | 2025Group; original Capital recycling initiatives (asset values) | Source |
|---|---|---|---|---|---|---|
| Capital recycling initiatives (asset values) — stacked-bar total | ||||||
| Subtotal$ million | 921 | 97 | 315 | 1,392 | 1,378 | PDF p. 356 |
| Capital recycling initiatives (asset values) — original legend series | ||||||
| FCT$ million | 230 | 68 | 58 | 521 | 567 | PDF p. 356 |
Definitions & sources
Original report: PDF p. 356 ↗
Amounts are $ million. Original bar values, year positions and legend series were independently rebound and visually reviewed. Only printed year/series values are included; unprinted segments are not assigned zero.
These charts have their own reported definitions. Sustaining-value series includes realised net fair-value changes; it must not be substituted for the separate financial-statement PBIT measure.
Capital recycling initiatives (asset values) — printed chart values for 2021, 2022, 2024, 2025
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group; original Capital recycling initiatives (asset values) | 2022Group; original Capital recycling initiatives (asset values) | 2024Group; original Capital recycling initiatives (asset values) | 2025Group; original Capital recycling initiatives (asset values) | Source |
|---|---|---|---|---|---|
| Capital recycling initiatives (asset values) — original legend series | |||||
| FLCT$ million | 152 | 11 | 189 | 58 | PDF p. 356 |
Definitions & sources
Original report: PDF p. 356 ↗
Amounts are $ million. Original bar values, year positions and legend series were independently rebound and visually reviewed. Only printed year/series values are included; unprinted segments are not assigned zero.
These charts have their own reported definitions. Sustaining-value series includes realised net fair-value changes; it must not be substituted for the separate financial-statement PBIT measure.
Capital recycling initiatives (asset values) — printed chart values for 2021, 2022, 2023, 2024
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group; original Capital recycling initiatives (asset values) | 2022Group; original Capital recycling initiatives (asset values) | 2023Group; original Capital recycling initiatives (asset values) | 2024Group; original Capital recycling initiatives (asset values) | Source |
|---|---|---|---|---|---|
| Capital recycling initiatives (asset values) — original legend series | |||||
| FTREIT$ million | 539 | 18 | 227 | 34 | PDF p. 356 |
Definitions & sources
Original report: PDF p. 356 ↗
Amounts are $ million. Original bar values, year positions and legend series were independently rebound and visually reviewed. Only printed year/series values are included; unprinted segments are not assigned zero.
These charts have their own reported definitions. Sustaining-value series includes realised net fair-value changes; it must not be substituted for the separate financial-statement PBIT measure.
Capital recycling initiatives (asset values) — printed chart values for 2023, 2024, 2025
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Group; original Capital recycling initiatives (asset values) | 2024Group; original Capital recycling initiatives (asset values) | 2025Group; original Capital recycling initiatives (asset values) | Source |
|---|---|---|---|---|
| Capital recycling initiatives (asset values) — original legend series | ||||
| Capital partnerships$ million | 30 | 290 | 365 | PDF p. 356 |
Definitions & sources
Original report: PDF p. 356 ↗
Amounts are $ million. Original bar values, year positions and legend series were independently rebound and visually reviewed. Only printed year/series values are included; unprinted segments are not assigned zero.
These charts have their own reported definitions. Sustaining-value series includes realised net fair-value changes; it must not be substituted for the separate financial-statement PBIT measure.
Capital recycling initiatives (asset values) — printed chart values for 2024, 2025
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group; original Capital recycling initiatives (asset values) | 2025Group; original Capital recycling initiatives (asset values) | Source |
|---|---|---|---|
| Capital recycling initiatives (asset values) — original legend series | |||
| Sales to third parties$ million | 358 | 388 | PDF p. 356 |
Definitions & sources
Original report: PDF p. 356 ↗
Amounts are $ million. Original bar values, year positions and legend series were independently rebound and visually reviewed. Only printed year/series values are included; unprinted segments are not assigned zero.
These charts have their own reported definitions. Sustaining-value series includes realised net fair-value changes; it must not be substituted for the separate financial-statement PBIT measure.
Segment information — Operating segments, financial year ended 30 September 2025
21 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Singapore | 2025Australia | 2025Industrial | 2025Hospitality | 2025Thailand & Vietnam | 2025Others | 2025Corporate & others | 2025Elimination | 2025Total | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating segments | ||||||||||
| Revenue – external$’000 | 742,351 | 567,717 | 655,090 | 745,983 | 543,054 | 146,689 | 2,635 | – | 3,403,519 | PDF p. 191 |
| Revenue – inter-segment$’000 | 13,017 | 2,659 | 145 | 320 | 7 | 3,505 | 47,273 | (66,926) | – | PDF p. 191 |
| Trading profit/(loss)$’000 | 394,400 | 91,759 | 364,804 | 107,800 | 91,634 | 15,863 | (97,836) | – | 968,424 | PDF p. 191 |
| Share of results of joint ventures and associates, net of tax$’000 | 92,425 | 2,636 | 49,305 | 3,429 | 34,158 | 55,318 | (19,446) | – | 217,825 | PDF p. 191 |
| Profit/(Loss) before interest, fair value change, tax and exceptional items$’000 | 486,825 | 94,395 | 414,109 | 111,229 | 125,792 | 71,181 | (117,282) | – | 1,186,249 | PDF p. 191 |
| Fair value change and gain on disposal of investment properties$’000 | (45,459) | 30,380 | 83,766 | 5,558 | (14,379) | (50,561) | 90 | – | 9,395 | PDF p. 191 |
| Exceptional items$’000 | (20,024) | – | (6,732) | (574) | (10,314) | 524 | 131 | – | (36,989) | PDF p. 191 |
| Segment assets | ||||||||||
| Investments in joint ventures and associates$’000 | 1,858,237 | 294,831 | 614,102 | 37,569 | 1,288,876 | 864,984 | 180,688 | – | 5,139,287 | PDF p. 191 |
| Other operating segment assets$’000 | 8,833,955 | 2,868,535 | 11,297,312 | 3,720,579 | 3,871,451 | 1,362,586 | 253,176 | – | 32,207,594 | PDF p. 191 |
| Reportable segment assets$’000 | 10,692,192 | 3,163,366 | 11,911,414 | 3,758,148 | 5,160,327 | 2,227,570 | 433,864 | – | 37,346,881 | PDF p. 191 |
| Other segment information | ||||||||||
| Additions to investment properties and property, plant and equipment$’000 | 1,274,642 | 67,936 | 515,367 | 52,829 | 180,460 | 11,587 | 26 | – | 2,102,847 | PDF p. 191 |
| Additions to intangible assets$’000 | 1,118 | 226 | – | 10 | 1,131 | – | 1,552 | – | 4,037 | PDF p. 191 |
| Additions to investment in joint ventures and associates$’000 | 174,894 | 102,179 | 212,159 | – | 71,527 | 55,084 | 44,327 | – | 660,170 | PDF p. 191 |
| Depreciation of property, plant and equipment and right-of-use assets$’000 | (43) | (4,628) | (4,107) | (53,140) | (8,067) | (1,693) | (2,757) | – | (74,435) | PDF p. 191 |
| Amortisation of intangible assets$’000 | (801) | (1,293) | (15) | (404) | (858) | (87) | (1,519) | – | (4,977) | PDF p. 191 |
| Gain on change in use of properties held for sale$’000 | – | 39,794 | – | – | – | – | – | – | 39,794 | PDF p. 191 |
| Net write-down to net realisable value of properties held for sale$’000 | – | – | (2,557) | – | (29,720) | (26,505) | – | – | (58,782) | PDF p. 191 |
| Attributable profit | ||||||||||
| Attributable profit/(loss) before fair value change and exceptional items (1)$’000 | 146,212 | 23,101 | 26,180 | 3,110 | (2,881) | 72,749 | (29,050) | – | 239,421 | PDF p. 191 |
| Fair value change$’000 | (2,032) | 21,264 | 64,836 | 8,968 | 442 | (56,341) | 90 | – | 37,227 | PDF p. 191 |
| Exceptional items$’000 | (20,024) | – | (6,732) | 2,344 | (9,793) | 524 | 131 | – | (33,550) | PDF p. 191 |
| Attributable profit/(loss) to owners of the Company$’000 | 124,156 | 44,365 | 84,284 | 14,422 | (12,232) | 16,932 | (28,829) | – | 243,098 | PDF p. 191 |
Definitions & sources
Original report: PDF p. 191 ↗
Segment assets are presented net of inter-segment balances. Rows with only one value (interest income/expense, profit before tax, tax, total assets, etc.) are printed only in the Total column.
(1) The attributable profit/(loss) disclosed includes inter-segment interest income and expense in order to reflect the cost of financing of the Group’s internal funds between segments.
(2) Others in operating segment include China, whose contribution to the Group’s external revenue, PBIT, attributable profit, investments in joint ventures and associates and other operating segment assets amount to $25,726,000, $51,651,000, $101,723,000, $864,984,000 and $89,019,000, respectively.
Elimination column printed as – where nil.
Segment information — Geographical segments, financial year ended 30 September 2025
12 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Singapore | 2025Australia | 2025Europe | 2025China | 2025Thailand | 2025Others | 2025Total | Source |
|---|---|---|---|---|---|---|---|---|
| Geographical segments | ||||||||
| Revenue – external$’000 | 923,082 | 1,012,881 | 778,163 | 36,461 | 503,272 | 149,660 | 3,403,519 | PDF p. 192 |
| PBIT$’000 | 418,968 | 332,613 | 245,169 | 57,151 | 84,891 | 47,457 | 1,186,249 | PDF p. 192 |
| Segment assets | ||||||||
| Non-current assets(5)$’000 | 12,262,299 | 8,216,170 | 6,654,976 | 940,662 | 3,253,918 | 1,000,896 | 32,328,921 | PDF p. 192 |
| Other geographical segment assets$’000 | 504,885 | 2,282,703 | 417,498 | 111,182 | 1,601,267 | 100,425 | 5,017,960 | PDF p. 192 |
| Reportable segment assets$’000 | 12,767,184 | 10,498,873 | 7,072,474 | 1,051,844 | 4,855,185 | 1,101,321 | 37,346,881 | PDF p. 192 |
| Other segment information | ||||||||
| Additions to investment properties and property, plant and equipment$’000 | 1,434,827 | 323,464 | 162,239 | 1,620 | 75,718 | 104,979 | 2,102,847 | PDF p. 192 |
| Additions to intangible assets$’000 | 2,670 | 226 | – | 10 | 1,111 | 20 | 4,037 | PDF p. 192 |
| Depreciation of property, plant and equipment and right-of-use assets$’000 | (12,398) | (13,751) | (36,220) | (387) | (7,366) | (4,313) | (74,435) | PDF p. 192 |
| Amortisation of intangible assets$’000 | (2,541) | (1,293) | (177) | (100) | (763) | (103) | (4,977) | PDF p. 192 |
| Gain on change in use of properties held for sale$’000 | – | 39,794 | – | – | – | – | 39,794 | PDF p. 192 |
| Net write-down to net realisable value of properties held for sale$’000 | – | – | (23,049) | (6,013) | (29,720) | – | (58,782) | PDF p. 192 |
| Exceptional items$’000 | (30,415) | 6,058 | (2,318) | – | – | (10,314) | (36,989) | PDF p. 192 |
Definitions & sources
Original report: PDF p. 192 ↗
Geographical segment revenue is based on the geographical location of the customers. Geographical segment assets are based on the geographical location of the assets.
(3) Europe includes the UK and continental Europe.
(4) Others in geographical segment include Vietnam, Japan, New Zealand, Indonesia, Hong Kong and Malaysia.
(5) Non-current assets exclude financial instruments and deferred tax assets.
Single-value rows (Tax assets, Bank deposits, Cash and cash equivalents, Total assets) printed only in Total column.
Segment information — Operating segments, financial year ended 30 September 2024
20 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Singapore | 2024Australia | 2024Industrial | 2024Hospitality | 2024Thailand & Vietnam | 2024Others | 2024Corporate & others | 2024Eliminations | 2024Total | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating segments | ||||||||||
| Revenue – external$’000 | 1,230,228 | 734,113 | 644,652 | 781,662 | 525,700 | 296,780 | 1,711 | – | 4,214,846 | PDF p. 193 |
| Revenue – inter-segment$’000 | 14,631 | 3,781 | 470 | 681 | 7 | 4,398 | 46,316 | (70,284) | – | PDF p. 193 |
| Trading profit/(loss)$’000 | 421,323 | 63,065 | 371,499 | 131,875 | 112,223 | 52,905 | (85,152) | – | 1,067,738 | PDF p. 193 |
| Share of results of joint ventures and associates, net of tax$’000 | 79,728 | 15,233 | 37,838 | 770 | 78,997 | 100,363 | (28,436) | – | 284,493 | PDF p. 193 |
| Profit/(Loss) before interest, fair value change, tax and exceptional items$’000 | 501,051 | 78,298 | 409,337 | 132,645 | 191,220 | 153,268 | (113,588) | – | 1,352,231 | PDF p. 193 |
| Fair value change and gain on disposal of investment properties$’000 | 101,030 | (287,127) | 35,422 | 14,496 | 30,054 | (92,325) | (180) | – | (198,630) | PDF p. 193 |
| Exceptional items$’000 | (16,765) | (3,351) | 184 | 36,928 | 6,495 | – | (247) | – | 23,244 | PDF p. 193 |
| Segment assets | ||||||||||
| Investments in joint ventures and associates$’000 | 1,893,249 | 202,174 | 374,832 | 34,495 | 1,182,023 | 819,602 | 153,103 | – | 4,659,478 | PDF p. 193 |
| Other operating segment assets$’000 | 7,752,077 | 2,821,174 | 11,579,961 | 3,890,113 | 4,372,676 | 1,552,753 | 249,495 | – | 32,218,249 | PDF p. 193 |
| Reportable segment assets$’000 | 9,645,326 | 3,023,348 | 11,954,793 | 3,924,608 | 5,554,699 | 2,372,355 | 402,598 | – | 36,877,727 | PDF p. 193 |
| Other segment information | ||||||||||
| Additions to investment properties and property, plant and equipment$’000 | 65,507 | 100,811 | 550,722 | 140,538 | 197,613 | 21,384 | 15,525 | – | 1,092,100 | PDF p. 193 |
| Additions to intangible assets$’000 | 541 | – | – | 451 | 617 | – | 3,391 | – | 5,000 | PDF p. 193 |
| Additions to investments in joint ventures and associates$’000 | 292,099 | 46,188 | 79,545 | 7,831 | 26,810 | 139,162 | 39,832 | – | 631,467 | PDF p. 193 |
| Depreciation of property, plant and equipment and right-of-use assets$’000 | (57) | (5,151) | (4,381) | (51,524) | (9,083) | (1,637) | (2,265) | – | (74,098) | PDF p. 193 |
| Amortisation of intangible assets$’000 | (740) | (1,355) | (15) | (433) | (962) | (167) | (1,849) | – | (5,521) | PDF p. 193 |
| Net reversal of write-down/(write-down) to net realisable value of properties held for sale$’000 | – | 5,315 | – | – | (508) | (57,149) | – | – | (52,342) | PDF p. 193 |
| Attributable profit | ||||||||||
| Attributable profit/(loss) before fair value change and exceptional items (1)$’000 | 139,399 | 7,759 | 31,875 | (9,648) | 14,422 | 50,217 | (15,868) | – | 218,156 | PDF p. 193 |
| Fair value change$’000 | 100,778 | (200,989) | 79,132 | 26,402 | 61,265 | (93,725) | (180) | – | (27,317) | PDF p. 193 |
| Exceptional items$’000 | (1,959) | (2,346) | 184 | 16,996 | 2,864 | – | (247) | – | 15,492 | PDF p. 193 |
| Attributable profit/(loss) to owners of the Company$’000 | 238,218 | (195,576) | 111,191 | 33,750 | 78,551 | (43,508) | (16,295) | – | 206,331 | PDF p. 193 |
Definitions & sources
Original report: PDF p. 193 ↗
Segment assets are presented net of inter-segment balances. Single-value rows are printed only in the Total column.
(1) The attributable profit/(loss) disclosed included inter-segment interest income and expense in order to reflect the cost of financing of the Group’s internal funds between segments.
(2) Others in operating segment included China, whose contribution to the Group’s external revenue, PBIT, attributable profit, investments in joint ventures and associates and other operating segment assets amounted to $150,101,000, $184,816,000, $143,324,000, $819,602,000 and $171,053,000, respectively.
Segment information — Geographical segments, financial year ended 30 September 2024
11 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Singapore | 2024Australia | 2024Europe | 2024China | 2024Thailand | 2024Others | 2024Total | Source |
|---|---|---|---|---|---|---|---|---|
| Geographical segments | ||||||||
| Revenue – external$’000 | 1,448,164 | 1,191,119 | 794,682 | 160,630 | 496,753 | 123,498 | 4,214,846 | PDF p. 194 |
| PBIT$’000 | 475,570 | 323,029 | 186,082 | 187,713 | 161,686 | 18,151 | 1,352,231 | PDF p. 194 |
| Segment assets | ||||||||
| Non-current assets(5)$’000 | 10,921,815 | 8,731,726 | 6,493,193 | 891,496 | 3,291,195 | 1,177,081 | 31,506,506 | PDF p. 194 |
| Other geographical segment assets$’000 | 783,294 | 2,086,553 | 457,642 | 195,280 | 1,714,337 | 134,115 | 5,371,221 | PDF p. 194 |
| Reportable segment assets$’000 | 11,705,109 | 10,818,279 | 6,950,835 | 1,086,776 | 5,005,532 | 1,311,196 | 36,877,727 | PDF p. 194 |
| Other segment information | ||||||||
| Additions to investment properties and property, plant and equipment$’000 | 84,276 | 441,532 | 292,252 | 152 | 99,097 | 174,791 | 1,092,100 | PDF p. 194 |
| Additions to intangible assets$’000 | 4,383 | – | – | – | 617 | – | 5,000 | PDF p. 194 |
| Depreciation of property, plant and equipment and right-of-use assets$’000 | (12,006) | (15,693) | (33,457) | (371) | (8,291) | (4,280) | (74,098) | PDF p. 194 |
| Amortisation of intangible assets$’000 | (2,838) | (1,355) | (252) | (102) | (861) | (113) | (5,521) | PDF p. 194 |
| Net reversal of write-down/(write-down) to net realisable value of properties held for sale$’000 | – | 5,315 | (71,955) | 14,806 | (508) | – | (52,342) | PDF p. 194 |
| Exceptional items$’000 | (17,446) | 15,490 | 479 | – | 6,495 | 18,226 | 23,244 | PDF p. 194 |
Definitions & sources
Original report: PDF p. 194 ↗
(3) Europe included the UK and continental Europe.
(4) Others in geographical segment included Vietnam, Japan, New Zealand, Indonesia, Hong Kong and Malaysia.
(5) Non-current assets excluded financial instruments and deferred tax assets.
Single-value rows printed only in Total column.
Borrowings — Note 27 Loans and borrowings (Group)
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Weighted average effective interest rate, % | 2024Weighted average effective interest rate, % | 2025Group, $'000 | 2024Group, $'000 | Source |
|---|---|---|---|---|---|
| Repayable within one year: Unsecured | |||||
| Bank loans% / $'000 | 3.5 | 4.5 | 2,067,571 | 2,479,258 | PDF p. 226 |
| Medium term notes and other bonds% / $'000 | 3.4 | 2.7 | 646,090 | 555,443 | PDF p. 226 |
| Repayable within one year: Secured | |||||
| Bank loans% / $'000 | 3.1 | 4.0 | 82,368 | 582,696 | PDF p. 226 |
| Repayable after one year: Unsecured | |||||
| Bank loans% / $'000 | 3.8 | 5.0 | 10,077,453 | 9,823,193 | PDF p. 226 |
| Medium term notes and other bonds% / $'000 | 3.4 | 3.6 | 3,186,775 | 3,236,892 | PDF p. 226 |
| Repayable after one year: Secured | |||||
| Bank loans% / $'000 | 2.4 | 4.0 | 1,572,776 | 581,346 | PDF p. 226 |
| Medium term notes% / $'000 | 4.8 | 4.8 | 29,100 | 29,545 | PDF p. 226 |
Definitions & sources
Original report: PDF p. 226 ↗
(a) The secured bank loans and medium term notes are secured by certain subsidiaries by way of fixed and floating charges over certain assets and/or freehold and leasehold land and properties as disclosed in Notes 12, 13 and 20.
(c) Group and Company have interest rate swaps in place, which have the economic effect of converting borrowings from variable rates to fixed rates (Notes 22 and 36).
(d) Non-current loans and borrowings require compliance with covenants principally relating to balance sheet ratios, including net gearing and consolidated net tangible assets; the Group complied throughout the year.
(e) Medium term notes and other bonds are denominated mainly in Singapore Dollars, Thai Baht, Malaysia Ringgit and Japanese Yen.
Rate cells are blank for bank overdrafts as printed.
Borrowings — Note 27(b) Maturity of non-current loans and borrowings (Group)
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, $'000 | 2024Group, $'000 | Source |
|---|---|---|---|
| Maturity of non-current loans and borrowings | |||
| Between 1 and 2 years$'000 | 4,403,338 | 2,410,750 | PDF p. 226 |
| Between 2 and 5 years$'000 | 9,990,556 | 11,045,881 | PDF p. 226 |
| After 5 years$'000 | 472,210 | 214,345 | PDF p. 226 |
Definitions & sources
Original report: PDF p. 226 ↗
Total printed as 14,866,104 (2025) and 13,670,976 (2024).
Borrowings — Note 35(b) Liquidity risk - contractual undiscounted cash flows, Group, 30 September 2025
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group carrying amount, $'000 | 2025Group total contractual undiscounted cash flows, $'000 | 2025Group 1 year or less, $'000 | 2025Group 1 to 5 years, $'000 | 2025Group over 5 years, $'000 | Source |
|---|---|---|---|---|---|---|
| Financial liabilities, at amortised cost | ||||||
| Loans and borrowings$'000 | (17,662,801) | (19,236,775) | (3,371,927) | (15,355,682) | (509,166) | PDF p. 242 |
| Lease liabilities$'000 | (820,378) | (1,940,093) | (56,278) | (215,167) | (1,668,648) | PDF p. 242 |
Definitions & sources
Original report: PDF p. 242 ↗
Includes interest payments; excludes netting agreements.
Borrowings — Note 35(b) Liquidity risk - contractual undiscounted cash flows, Group, 30 September 2024
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group carrying amount, $'000 | 2024Group total contractual undiscounted cash flows, $'000 | 2024Group 1 year or less, $'000 | 2024Group 1 to 5 years, $'000 | 2024Group over 5 years, $'000 | Source |
|---|---|---|---|---|---|---|
| Financial liabilities, at amortised cost | ||||||
| Loans and borrowings$'000 | (17,289,133) | (19,354,948) | (4,318,116) | (14,784,997) | (251,835) | PDF p. 243 |
| Lease liabilities$'000 | (837,203) | (2,181,633) | (58,801) | (209,575) | (1,913,257) | PDF p. 243 |
Definitions & sources
Original report: PDF p. 243 ↗
Includes interest payments; excludes netting agreements.
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend policy | Frasers Property’s policy is to recommend dividends of up to 75% of Frasers Property’s net profit after tax after considering a number of factors, including Frasers Property’s level of cash and reserves, results of operations, business prospects, capital requirements and surplus, general financial condition, contractual restrictions, the absence of any circumstances which might reduce the amount of reserves available to pay dividends and other factors considered to be relevant by the Board, including the expected financial performance of Frasers Property. | Group policy | PDF p. 132 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| first and final dividend | 4.5 Singapore cents per share | FY25 (financial year ended 30 September 2025), proposed, Singapore cents per share | PDF p. 132 |
| Final dividend resolution | final tax-exempt (one-tier) dividend of 4.5 cents per share | FY25, financial year ended 30 September 2025 | PDF p. 333 |
| Tax-exempt ordinary dividend of 4.5 cents per share paid in respect of financial year ended 30 September 2024 | 4.5 cents per share | FY24 comparative (financial year ended 30 September 2024), paid in 2025, Group and Company | PDF p. 235 |
| A first and final tax-exempt dividend | A first and final tax-exempt dividend of 4.5 cents (2024: 4.5 cents) per share is proposed by the Directors after the reporting date | FY25 vs FY24, Group and Company | PDF p. 235 |
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| approximately 74% of APBFE before distribution to perpetual securities holders | approximately 74% of APBFE before distribution to perpetual securities holders | FY25 proposed dividend | PDF p. 132 |
Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.
Auditor’s report
Audit & risk signals
Audit opinion
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Auditor | KPMG LLP | Group and Company, FY ended 30 September 2025 | PDF p. 147 |
| Engagement partner | Lo Mun Wai | Group and Company, FY ended 30 September 2025 | PDF p. 147 |
| Opinion | unmodified | Group and Company, FY ended 30 September 2025 | PDF p. 143 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Valuation of investment properties | Investment properties are stated at fair values based on independent external valuations. | Group, 30 September 2025 | PDF p. 143 |
| Valuation of properties held for sale | Properties held for sale are stated at the lower of cost and net realisable value. | Group, 30 September 2025 | PDF p. 144 |
| Valuation of property, plant and equipment | Estimating the recoverable amount of a hotel property involves significant judgement, in determining the appropriate valuation method and the underlying assumptions to be applied. | Group, 30 September 2025 | PDF p. 144 |
| Valuation of intangible assets | Estimating the recoverable amount involves significant judgement in determining the significant underlying assumptions to be applied. | Group, 30 September 2025 | PDF p. 145 |
Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.
How to read these figures
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
FY2025 official annual report, financial year ended 30 September 2025; SGD unless original row states otherwise. Source thousands, millions, cents, percentages, percentage points and multiples are retained.
The report presents Group income, comprehensive income, cash flow and changes in equity; Company has a separate statement of financial position. No separate Company income/OCI/cash-flow/equity statement appears in the complete primary section.
Five-year highlights use original ascending 2021–2025 years; this summary does not explicitly label Group/Company scope. Original historical reports remain pending backfill.
Printed charts are separate reported definitions; include only original labelled values, never infer zero for an unlabelled segment. Approximate payout ratios and capital-management change units are explicitly indicated.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.