Mapletree Logistics Trust Announces Second Quarter 2026 Earnings Call: Transcript Overview

Mapletree Logistics Trust Announces Q2 2026 Earnings; Revenue Impacted By Currency Fluctuations

October 29,2025 – Singapore

Mapletree Logistics Trust recently concluded its Q2 2026 earnings call,revealing a 3.2% decrease in gross revenue year-on-year, reaching SGD 177 million. Teh report,delivered on October 28,2025,highlighted the influence of unfavorable currency exchange rate movements and the absence of revenue from previously divested assets.

Key Financial Highlights

Despite the overall revenue decline, the Trust demonstrated resilience through positive contributions. A important factor was the successful asset enhancement initiative (AEI) at 5A Joo Koon, now rebranded as Mapletree Joo Koon Logistics Hub, which currently boasts a committed occupancy rate of approximately 82%. Stable performance across its portfolio, excluding China, also helped mitigate the impact of the challenging economic environment.

Leadership insights

The earnings call featured presentations from key members of the Mapletree Logistics Trust management team. Yuen May Lum, Head & Director of Investor Relations, initiated the discussion, followed by Sheh Min Lum, Chief Financial Officer, who detailed the key financial highlights. Jean Kam, CEO & Executive director, and James Sung, Head of Asset Management & Marketing, were also present to provide further insights.

Market Dynamics and Future Outlook

The impact of currency depreciation against the Singapore dollar was a central theme during the call. While china experienced lower contributions,the Trust noted that this was offset by robust performance in other key markets.Looking ahead, Mapletree logistics Trust is focused on maximizing asset utilization and identifying new growth opportunities to strengthen its financial position and deliver enduring returns to unitholders.

Metric	Q2 2026	Year-on-Year Change
Gross Revenue	SGD 177 million	-3.2%
Mapletree Joo Koon Logistics Hub Occupancy	82%	N/A

Did You Know? The logistics real estate sector is currently experiencing increased demand due to the ongoing growth of e-commerce and supply chain restructuring globally.

As of September 30, 2025, the global logistics sector was valued at approximately $9.7 trillion, with a projected annual growth rate of 7.5% through 2028, according to a recent report by Armstrong & Associates.

Do you believe currency fluctuations will continue to pose a significant challenge to Mapletree Logistics Trust in the coming quarters? What long-term strategies do you think the Trust should pursue to enhance shareholder value?

Understanding Logistics Trust Performance

Logistics trusts, like mapletree logistics Trust, invest in a portfolio of logistics properties such as warehouses, distribution centers, and industrial facilities. Their performance is closely tied to macroeconomic factors like economic growth, trade volumes, and interest rates. Monitoring metrics like occupancy rates, rental income, and net operating income is crucial for assessing the health and future prospects of these investments.

Frequently Asked Questions About Mapletree Logistics Trust

• What is Mapletree Logistics trust? Mapletree Logistics Trust is a Singapore-based real estate investment trust that invests in logistics properties.
• What factors influenced Mapletree Logistics Trust’s Q2 2026 revenue? Currency depreciation and the absence of revenue from divested assets were key factors.
• What is the occupancy rate at Mapletree Joo koon Logistics Hub? The occupancy rate is currently approximately 82%.
• What is the outlook for the logistics real estate market? The logistics real estate market is expected to grow due to e-commerce and supply chain demands.
• How do currency fluctuations affect logistics trusts? Currency fluctuations can impact revenue when assets are located in countries with different currencies than the reporting currency.

Share your thoughts on Mapletree Logistics Trust’s latest earnings report in the comments below!

What specific hedging strategies is MLT employing to mitigate risk, notably concerning interest rate fluctuations and foreign exchange exposures?

Key Highlights from the Q2 2026 Earnings

Mapletree Logistics Trust (MLT) recently concluded its Second Quarter 2026 earnings call. This overview distills the key takeaways for investors and those following the Singapore REIT sector. the call focused on performance metrics, portfolio updates, and the outlook for the remainder of the fiscal year. Understanding these details is crucial for anyone invested in MLT stock or considering an investment.

Financial Performance – A Deep Dive

* Revenue Growth: MLT reported a revenue increase of 4.5% year-over-year, primarily driven by organic growth and recent acquisitions. This demonstrates the trust’s ability to capitalize on the expanding logistics real estate market.

* Net Property Income (NPI): NPI saw a rise of 3.8%, reflecting effective cost management and strong tenant demand. Maintaining healthy NPI is a key indicator of MLT’s operational efficiency.

* Distributable Income: Distributable income increased by 3.2% to SGD 185.7 million. This translates to a DPU (Distributions Per Unit) of 10.35 Singapore cents, a slight increase from the previous year. investors closely monitor MLT DPU as a measure of returns.

* Occupancy Rates: Portfolio occupancy remained robust at 98.7%, showcasing the high demand for MLT’s strategically located warehouse space. This high occupancy is a significant strength in the current market.

* Debt metrics: The trust maintained a healthy debt-to-asset ratio of 38.2%,well within its target range. Prudent debt management is a priority for MLT.

Portfolio Updates & Strategic Initiatives

MLT continues to actively manage its portfolio, focusing on enhancing asset value and expanding its geographic footprint.

* Acquisitions: During the quarter,MLT completed the acquisition of a modern logistics facility in Osaka,Japan,for SGD 150 million. This acquisition expands MLT’s presence in a key Asian market and diversifies its portfolio. The focus remains on prime logistics assets.

* Divestments: The trust divested a non-core property in Australia for SGD 80 million, allowing for capital recycling and reinvestment into higher-growth opportunities. Strategic asset divestment is a key component of MLT’s strategy.

* Lease Renewals: MLT successfully renewed leases covering approximately 1.5 million square feet of space, demonstrating strong tenant relationships and the desirability of its properties. proactive lease management is vital for sustained income.

* Progress Projects: Progress remains on track for the development of a large-scale logistics park in Vietnam, expected to be completed in Q1 2027. This project represents a significant growth opportunity for MLT in a rapidly developing market.

Market Outlook & Future Guidance

Management expressed a cautiously optimistic outlook for the remainder of 2026, citing continued growth in e-commerce logistics and the increasing demand for modern warehouse facilities.

* E-commerce Growth: The continued expansion of e-commerce is a major driver of demand for logistics space, particularly in Asia.MLT is well-positioned to benefit from this trend.

* Supply Chain Resilience: Companies are increasingly focused on building more resilient supply chains, leading to increased demand for strategically located logistics facilities.

* Rental Reversions: Management anticipates positive rental reversions in key markets, driven by strong demand and limited supply.This will contribute to revenue growth in the coming quarters.

* Capital Expenditure: MLT expects to maintain a disciplined approach to capital expenditure, focusing on value-accretive acquisitions and development projects.

Impact of Global Economic Factors

The earnings call addressed the potential impact of global economic headwinds, including inflation and rising interest rates.

* Inflationary Pressures: MLT has implemented strategies to mitigate the impact of inflation, including escalating lease clauses and cost-saving initiatives.

* Interest Rate Risk: The trust has proactively hedged a significant portion of its interest rate exposure, reducing its vulnerability to rising rates. Careful interest rate hedging is crucial in the current surroundings.

* Currency Fluctuations: Currency fluctuations can impact MLT’s earnings, particularly from its overseas investments. The trust actively manages its currency risk through various hedging strategies.

Investor Q&A Highlights

Several key questions were addressed during the Q&A session:

* Sustainability Initiatives: MLT is committed to incorporating sustainability into its operations, including reducing its carbon footprint and investing in green building technologies.ESG investing is becoming increasingly critically important to investors.

* China Exposure: Management addressed concerns about MLT’s exposure to the Chinese market, emphasizing the diversification of its portfolio and the strong performance of its Chinese assets.

* Future Acquisition Pipeline: MLT has a robust pipeline of potential acquisitions, focusing on high-quality logistics assets in strategic locations.

This overview provides a thorough summary of the key data discussed during Mapletree Logistics Trust’s Second Quarter 2026 earnings call. Investors should refer to the full transcript and MLT’s official announcements for complete details. Resources include