Overview of Waypoint REIT FY23 results and outlook

Waypoint REIT (ASX: $WPR) has reported FY23 results with distributable earnings per security (Distributable EPS) of 16.48 cents, in line with guidance. The distributable earnings amounted to $110.7 million, reflecting a 4.7% decline from FY22. The statutory net loss stood at $79.1 million, primarily influenced by valuation movements on the investment property portfolio and derivative financial instruments. The net tangible assets per security at 31 December 2023 were $2.73, marking a 9.6% decrease since 31 December 2022. Looking ahead, Waypoint REIT anticipates delivering Distributable Earnings per security of 16.32 cents to 16.48 cents in 2024.

Executive commentary on FY23 results and 2024 outlook

The FY23 results reflect a challenging year for Waypoint REIT, marked by a decline in distributable earnings and a statutory net loss. The valuation movements on the investment property portfolio and derivative financial instruments significantly impacted the financials. However, we remain focused on maximizing long-term returns from the portfolio for the benefit of all securityholders. For 2024, we anticipate delivering distributable earnings within the range of 16.32 to 16.48 cents, subject to various factors such as potential asset sales, interest rates, and the operating environment.

Summary of Waypoint REIT FY23 results and future expectations

Waypoint REIT's FY23 results revealed a decline in distributable earnings and a statutory net loss, primarily influenced by valuation movements on the investment property portfolio and derivative financial instruments. The company aims to deliver Distributable Earnings per security of 16.32 to 16.48 cents in 2024, contingent on factors such as potential asset sales, interest rates, and the operating environment. Waypoint REIT's objective remains focused on maximizing long-term returns from the portfolio for the benefit of all securityholders.