Coliwoo Holdings has established itself as Singapore's co-living market leader with 19.5% share based on the number of rooms, managing close to 3,000 rooms across 25 locations in Singapore. |
1H2025: Profits Jump by 81.9%
Coliwoo’s Adjusted PATMI (Profit Attributable to Equity Holders) for 1H2025 rocketed up to S$15.1 million, an 81.9% increase compared to the S$8.3 million earned in the first half of FY2024.
What’s more, the S$15.1 million already surpassed the Adjusted PATMI generated in the entire FY2024 (S$14.4 million).
The Adjusted PATMI exclusion list only covers:
- Fair value gains/losses on investment properties
- Impairment/write-off of assets
- Non-recurring and one-off items
- (Listing expenses are added back)
The Adjusted PATMI strips out non-cash items that can swing profits wildly, such as fair value gains or losses on investment properties.
“Other gains – net and other income” -- which amounted to S$8.4 million in 1HFY25 does not fall into any of those buckets.
Revenue growth in 1HFY25, too, showed good momentum, increasing by 16.3% to S$23.1 million.
So, why? Two simple reasons, according to the IPO prospectus:
- Portfolio Expansion: The lift in revenue was largely thanks to new sites that started bringing in cash towards the end of FY2024, and the full period revenue contribution from one property in 1H2025.
This means the higher performance level is structural and built upon a newly expanded asset base. - High Occupancy: The demand for Coliwoo's co-living spaces remains consistently high.
Overall average occupancy rate was 96.8% in 1H2025, making predictions of consistent future income easier.
Based on the total post-IPO share count of 480,800,000 shares. On a base case, the dividend yield is ~4% for a holding period of less than 3 months since the dividend is expected to be paid in early 2026 after the FY25 AGM. |
A caveat: While the company plans a 40% minimum distribution, remember that this is not a legally binding obligation, as the final decision depends on factors including cash levels, capital expenditure plans, and financial conditions.
In addition:
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→ See also: Big Leap: Why LHN's Co-Living Brand is Getting Its Own Listing
