FTREIT announces improved 9-month performance with total revenue of THB 3 billion, plans THB 1.92 billion new acquisition for its portfolio

For 3QFY2025 (April - June 2025), total revenue rose by 7.2% or THB 72.3 million Y-o-Y to THB 1,071.3 million. Net profit on investment was THB 718.5 million, an increase of 8.3% or THB 55.3 million Y-o-Y. Dividend payment from third quarter operations was announced at THB 0.1930 per trust unit, which will be paid on 9 September 2025. The accumulated dividend for the first three quarters of FY2025 is THB 0.5690 per trust unit.

Mr. Bhumpharn Arunthammakul, Managing Director of FIRM, said, "For the first nine months of FY2025, despite tariff uncertainties affecting large-scale investment in Thailand, factories and warehouses for rent have continued to attract investors due to lower capital investment requirements, in turn sustaining growth in the factory and warehouse rental business. This trend has been a strong driver of FTREIT's robust growth. In the first nine months of FY2025, FTREIT achieved a high average occupancy rate of approximately 90%, an increase of 4% compared to the same period last year."

Thailand's economic outlook in the first half of this year has been driven by expanding exports. This export growth was spurred by manufacturers accelerating production to export products before tariffs took effect in August 2025. This was also reflected in the THB 1 trillion in investment promotion applications submitted to the Thailand Board of Investment (BOI) in the first half of 2025. These investments were primarily in Digital, Electronics and Electrical Appliances, and Automotive Parts industries, demonstrating strong confidence in Thailand's manufacturing and industrial sectors, which underpinned logistics industry growth.

For 4QFY2025 (July - September 2025), FTREIT expects to acquire assets from its sponsor, Frasers Property (Thailand) Public Company Limited, in line with approval from Unitholders' Meeting No. 1/2025. The investment is valued at THB 1,921.6(1) million, which is the value equivalent to the lowest appraised value of the Additional Investment Assets. The assets consist of freehold ownership of land and 36 units of factory and warehouse with net leasable area of 78,075 sqm. These properties are in strategic industrial and logistics locations which tend to attract interest from investors and tenants. After the completion of this acquisition, FTREIT's assets under management will increase to 745 units on a leasable area of 2.37 million sqm with a portfolio value at around THB 52,700 million, The transfer of the assets into FTREIT is expected to proceed in September 2025 and be completed by December 2025.

Mr. Bhumpharn, added, "In this quarter, FIRM will continue to monitor further tariff-related developments. Thailand has successfully negotiated a lowered 19% tariff rate, comparable to other countries in the region and is due to reveal further details of tariff conditions. In the interim, the REIT manager will manage FTREIT through uncertainty by duly considering existing risks to ensure sustainable growth for unitholders."

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