OUE loss widens to S$314.7 million in H2 FY2025

[SINGAPORE] OUE reported a loss of S$314.7 million in H2 FY2025, 65 per cent more than the S$190.7 million in red ink in the preceding financial year.

The real estate and healthcare group on Friday (Feb 27) reported a drop in half-year revenue to S$324.3 million from S$332 million the year prior.

It attributed the drop to a lower contribution from the real estate segment, from the absence of Lippo Plaza Shanghai’s contribution following its divestment in December 2024.

The board proposed a dividend of S$0.01 a share; together with the interim dividend of S$0.01 a share, the total cash dividend for the year would be S$0.02 per share, subject to shareholders’ approval.

Factoring in the S$35.6 million in profit booked in H1, FY2025 losses came in at S$279.1 million, narrower by 2.7 per cent from the S$286.8 million loss previously.

This came mainly from the absence of a fair-value loss recognised for Lippo Plaza Shanghai from its divestment, and lower finance expenses.

This was partially offset by a higher share of losses from its associated company, Gemdale Properties and Investment Corporation (GPI), and a S$20 million impairment loss on its investment in GPI.

Revenue for the full year fell 4.6 per cent to S$617 million, from S$646.5 million in FY2024. This was the result of lower contributions from the real estate segment, including the absence of contributions from the divested Lippo Plaza Shanghai, though this was partially offset by higher contributions from the commercial portfolio in Singapore.

As a result, the group’s investment properties and fund management division recorded a 7.4 per cent decline in FY2025 revenue to S$192.2 million, from S$207.5 million in FY2024.

Revenue from the hospitality division was 4.4 per cent lower in FY2025 at S$220 million, from S$230.2 million in FY2024. This was due to a higher base from the previous year’s surge in concert-driven tourism and the commencement of the visa-free arrangement between Singapore and China.

The FY2025 revenue for the healthcare segment grew 0.3 per cent to S$152.7 million from S$152.2 million in FY2024, on the back of a stronger performance from specialist clinics in Singapore and contributions from its newly acquired cardiopulmonary physiotherapy business.

However, this was partially offset by depreciation of the rupiah and the yen against the Singapore dollar, and the absence of contribution from the closure of a pharmaceutical distribution business in China.

Revenue from the company’s “others” segment for FY2025 – primarily contributions from its food and beverage operations – came in at S$52 million, up 9.8 per cent from the S$47.4 million in FY2024.

This increase was mainly driven by contributions from newly opened dining outlets and the full-year contribution from the dining concepts launched in 2024.

In late December 2025, the group strengthened its healthcare portfolio with the acquisition of an additional 19.32 per cent stake in OUE Healthcare, increasing its total interest to 89.68 per cent.

In a bourse filing, OUE said that the global and domestic economic environment remains challenging against the backdrop of heightened trade tensions and policy uncertainty.

Its portfolio, comprising commercial properties, hospitality and retail assets, as well as its healthcare segment, is expected to provide a stable performance in 2026.

Shares of OUE closed down S$0.02 or 1.7 per cent down at S$1.17 on Friday.