Revenues grew 5 percent to P1.9 billion, while earnings before interest, taxes, depreciation, and amortization rose 4 percent to P1.8 billion and net income edged up 2 percent to P1.4 billion.
Headline numbers
• Revenue growth was driven by guaranteed leases from 7 solar properties and stronger power generation.
• CREIT maintained full occupancy across 7.1 million sqm of land, with 5.1 million sqm tied to solar farm projects.
• Average lease term exceeds 20 years, ensuring stable, long-term income.
• Declared a record P0.055 per share dividend in Q4, totaling P0.202 per share for 2024 with a 6.6 percent yield.
• Paid out 106 percent of income for the third straight year, topping REIT law’s 90 percent requirement.
Management’s view
“CREIT’s continued stability in 2024 reflects its resiliency amidst fluctuating market conditions and current challenges faced by traditional REITs,” said Oliver Tan, president and CEO of CREIT.
“Our operation in a crisis-proof and essential industry has translated to consistent, above-market dividends for our investors in our three years since listing,” he added.
