Lippo Malls Indonesia Retail Trust ( (LPMDF) ) has released its Q2 earnings. Here is a breakdown of the information Lippo Malls Indonesia Retail Trust presented to its investors.
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Lippo Malls Indonesia Retail Trust (LMIR Trust) is a Singapore-based real estate investment trust focused on owning and investing in a diversified portfolio of income-producing retail properties in Indonesia. The trust’s portfolio consists of 29 retail properties located across Indonesia.
In its latest earnings report for the second quarter and half-year ending June 30, 2025, LMIR Trust reported a slight increase in gross revenue, driven by a notable rise in car park revenue. However, the trust faced challenges with a decrease in net property income and a decision to withhold distributions to unitholders and perpetual securities holders due to ongoing economic uncertainties.
Key financial highlights include a 4.5% increase in gross revenue for the second quarter compared to the previous year, with car park revenue nearly doubling. Despite this, net property income saw a decline of 1.0% due to increased property operating expenses. The trust also completed significant refinancing exercises, reducing its US dollar-denominated debt and converting to an IDR-denominated structure.
The trust’s management remains cautious about the future, citing elevated global and domestic economic uncertainties, high interest rates, and volatile foreign exchange environments as potential risks. The management plans to continue exploring options to maintain a sustainable capital structure while withholding distributions to conserve cash.
Looking forward, LMIR Trust’s management is focused on navigating the challenging retail environment and ensuring financial stability. The trust aims to maintain positive cash flows and explore refinancing options to meet its debt obligations, while cautiously monitoring economic conditions.