Chamwe Kaira
Oryx Properties Limited profit for the year ended 30 June dropped to N$90 million compared to N$416 million last year.
The company said reported profit, earnings per share, and headline earnings were hit mainly by the derecognition of deferred tax assets. This followed legislative changes that limit the carry-forward period for assessed losses to five years.
“Although further amendments may be required on an annual basis, they are not expected to be material relative to the adjustments made in the current year. Had these legislative changes not occurred, the Group’s profit for the year, earnings per share, and headline earnings would have amounted to N$85,347 million, 183.45 cents per linked unit, and 120.99 cents per linked unit, respectively,” the company said.
Fair value adjustments totalled N$96 million, compared to N$341 million in 2024.
The company said this reflected continued market stability and portfolio quality, though at lower levels than the previous year, and contributed to the drop in earnings.
Despite the decline, interest distributions per linked unit rose 4.9% year-on-year. The group reported a total return of 21%, made up of 12% capital growth and 9% income return, outperforming the yield on 10-year government bonds.
The year also marked the close of the group’s three-year strategy, with the investment property portfolio valued at N$4.7 billion, up from N$4.2 billion in 2024.
A key milestone was the acquisition of Platz am Meer for N$290 million on 30 June 2025, expected to yield 11%, or about N$31.9 million in net operating income. During the year, Oryx invested N$146 million in maintaining and upgrading properties, compared to N$138 million in 2024.
“This reflects an increase in distributions, supported by stable operational performance and disciplined capital management. The Group remains focused on delivering sustainable long-term growth and enhancing value for unitholders, with an emphasis on maintaining predictable and reliable distributions,” the group said.
Oryx has launched a new three-year strategy aimed at increasing distributions to unitholders.
The plan focuses on nodal developments designed to transform urban areas into integrated hubs combining residential, commercial, and recreational facilities.
“With a strengthened asset base and an active development pipeline, the group is well-positioned to make a meaningful contribution to Namibia’s built environment and deliver long-term value to its stakeholders,” the company said.
Caption
Legislative changes affected the profit of Oryx Properties in the year ended 30 June.
- Photo: Oryx Properties
