ARA LOGOS Logistics Trust : Financial Statement (1367 KB)

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.

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