Keppel DC REIT 9M25 - UOB Kay Hian 2025-10-27: Margin Expansion From Pivot To Hyperscale Data Centres

• Keppel DC REIT (SGX:AJBU) reported DPU of 7.67 cents for 9M25 (+8.8% y-o-y), which is in line with our expectation.
• NPI grew 42.2% y-o-y in 9M25 due to:
  1. - Read this at SGinvestors.io -
  2. the acquisition of Tokyo Data Centre 1 (completion: 31 Jul 24); and
  3. contract renewals and rental escalation in 2024.
• This was partially offset by the divestment of Intellicentre Campus in Sydney, Australia (completion: 24 Jun 24) and Kelsterbach Data Centre in Germany (completion: 24 Mar 25).

Dublin provided healthy rental reversion.

• Keppel DC REIT achieved a positive rental reversion of 10% in 3Q25, driven mainly by lease renewals for its data centres in Dublin.
• - Read this at SGinvestors.io -

Margin expansion from pivot to hyperscale data centres.

• Read more at SGinvestors.io.

Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2026-02-02 Keppel DC REIT - Generating Sustainable Growth In 2026.

Price targets by 3 other brokers at Keppel DC REIT Target Prices.

Listing of research reports at Keppel DC REIT Analyst Reports.

Relevant links:
Keppel DC REIT Share Price History,
Keppel DC REIT Announcements,
Keppel DC REIT Dividend Payout Dates & Corporate Actions,
Keppel DC REIT News