Al-`Aqar Healthcare REIT | Annual Report 2024 BUSINESS OVERVIEW MANAGEMENT DISCUSSION & ANALYSIS MALAYSIAN SEGMENT The Malaysian segment was the Group’s main revenue source, contributing 99.2% in FY2024 (FY2023: 95.2%). This segment reported revenue of RM116.2 million which is an increase of 0.9% (FY2023: RM115.2 million). The increase was attributed to the annual increment on rental income. The Net Property Income (NPI) contributed by the Malaysian segment was RM103.8 million, which translated to a increase of 1.8% (FY2023: RM102.0 million). 18 KEY FINANCIAL RESULTS THE GROUP FY2023 RM’000 FY2024 RM’000 GROWTH % Gross revenue 121,022 117,216 (3.1) Net property income 105,441 101,543 (3.7) Profit for the year (realised) 63,246 62,223 (1.6) EPU (realised) (sen) 7.76 7.41 (4.5) THE FUND Income available for distribution 64,694 64,171 (0.8) DPU (sen) 7.90 7.27 (8.0) PERFORMANCE BY SEGMENT Al-`Aqar operates across two geographical segments based on the location of its customers and assets: • Malaysia – The core market, contributing the majority of revenue and earnings. • Australia – A smaller segment, primarily represented by aged care assets, with performance influenced by local market conditions. Management closely monitors the operating results of each segment separately to guide strategic decisions on resource allocation and performance assessment. Segmental performance is evaluated based on operating profit, ensuring a focused approach to growth and sustainability in both markets. REVENUE FY2023 RM’000 FY2024 RM’000 GROWTH % Malaysia 115,250 116,249 0.9 Australia 5,772 967 (83.2) NET PROPERTY INCOME (NPI) FY2023 RM’000 FY2024 RM’000 GROWTH % Malaysia 102,033 103,833 1.8 Australia 3,408 (2,290) (167.2) SECTION 1: FINANCIAL REVIEW
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