ESR(01821)2025-03-25 09:14Financial Performance - ESR Group Limited reported total revenue of 871.326 million in 2023[5]. - The company recorded a net loss of 268.056 million in 2023, representing a 371.0% change[5]. - The adjusted EBITDA for 2024 was a loss of 885.331 million in 2023[5]. - The group's revenue decreased by 26.7% from 639 million in FY2024, primarily due to lower management fees, which fell by 32.4% from 497.8 million[28]. - EBITDA dropped from a profit of 415.6 million in FY2024, representing a decline of 157.4%[31]. - PATMI decreased from a profit of 699.8 million in FY2024, a reduction of 403.1%[31]. - The company reported a net loss attributable to equity holders of 230,849,000 in 2023, marking a significant decline[88]. - Basic loss per share was 0.05 per share in 2023[88]. Asset Management and Fundraising - The total assets under management related to management fee income reached 5.4 billion in fundraising despite a challenging capital-raising environment, with capital raised across Australia, Korea, Japan, mainland China, and Singapore[11]. - The core asset management fee income continued to grow, contributing over 75% to the total revenue, despite a decrease in fund management EBITDA due to the absence of performance fees in 2024[14]. - ESR Group recorded fund management revenue of 5.4 billion, with new economy fundraising performing strongly at 2 billion data center project in Osaka, Japan, with a total capacity of 130 megawatts, highlighting its commitment to operational execution[13]. - The occupancy rate of new economy assets was maintained at 87% as of December 31, 2024, with a weighted average lease expiry of approximately 4.4 years by income and 3.8 years by area[18]. - The group recorded approximately 8 million square meters of lease renewals and new leases during the fiscal year 2024, an increase compared to the fiscal year 2023, with a weighted average rental growth rate of approximately 12.6%[18]. - The total amount of projects commenced and completed in the fiscal year 2024 was 3.6 billion, respectively, with 23% of the commenced projects being data center projects[20]. Financial Position and Liabilities - Total assets decreased from 14.8 billion as of December 31, 2024, a reduction of 8.6%[36]. - The group's total equity decreased from 7.5 billion as of December 31, 2024, primarily due to an annual net loss of 14,822,964,000 in 2024 from 5,234,343,000 in 2024 from 7,206,324 thousand in 2023 to 6.1 billion as of December 31, 2024, from $6.0 billion as of December 31, 2023, mainly due to delayed collection of capital cycle transaction proceeds[40]. Strategic Initiatives and Governance - The group aims to leverage its logistics real estate, data centers, and infrastructure platforms to capture the next phase of growth amid a challenging economic outlook[25]. - The group has made significant progress on its ESG 2030 development blueprint, with a female representation rate of approximately 47% in the workforce for the fiscal year 2024, an increase of 1% year-on-year[22]. - The company completed the proposed spin-off of logistics assets through a publicly offered infrastructure securities investment fund, which is set to list on the Shanghai Stock Exchange[44]. - The company has adopted corporate governance practices in line with the applicable code provisions throughout the fiscal year ending December 31, 2024[110]. - The board of directors includes both executive and non-executive members, ensuring diverse governance[117].