---
title: "Mapletree Industrial Trust full-year DPU falls 6.3%"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/284651594.md"
description: "Mapletree Industrial Trust reported a 6.3% decline in full-year distribution per unit (DPU) to 12.71 cents for FY25/26, with gross revenue falling 5.5% to $673.0 million and net property income down 5.9% to $500.4 million. Profit attributable to unitholders dropped 37.1% to $211.2 million. The fourth quarter saw an 8.0% decrease in DPU to 3.09 cents, alongside a $65.5 million loss due to a $134.5 million fair value loss on investment properties. Aggregate leverage improved to 34.0%, but near-term performance is expected to be impacted by lease non-renewals and higher borrowing costs."
datetime: "2026-04-29T22:00:54.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/284651594.md)
  - [en](https://longbridge.com/en/news/284651594.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/284651594.md)
---

# Mapletree Industrial Trust full-year DPU falls 6.3%

**Revenue declined after portfolio divestments.**

Mapletree Industrial Trust’s full-year distribution per unit (DPU) fell 6.3% to 12.71 cents in FY25/26, as revenue declined after portfolio divestments and lease non-renewals.

Gross revenue fell 5.5% to $673.0m, whilst net property income declined 5.9% to $500.4m. Profit attributable to unitholders fell 37.1% to $211.2m, with earnings per unit at 7.40 cents, down from 11.81 cents.

For the fourth quarter, DPU fell 8.0% YoY to 3.09 cents, whilst gross revenue dropped 7.9% to $163.8m. Net property income declined 8.6% to $119.9m.

The weaker performance was mainly due to the Singapore Portfolio Divestment, lease non-renewals in North America, and depreciation of the US dollar against the Singapore dollar.

These were partly offset by revenue from the Tokyo property acquired in October 2024, completion of the Osaka Data Centre fitting-out works, and new leases and renewals in Singapore.

MIT recorded a fourth-quarter loss attributable to unitholders of $65.5m, compared with a $51.5m profit a year earlier, after booking a $134.5m fair value loss on investment properties.

For the full year, net fair value loss on investment properties was $131.5m, mainly due to lower valuations of some North American properties.

Aggregate leverage improved to 34.0% as at 31 March 2026 from 40.1% a year earlier, whilst interest coverage stood at 4.0 times.

MIT said confirmed lease non-renewals in North America and higher borrowing costs from repricing maturing interest rate swaps are expected to affect near-term performance.

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