From GlobeNewswire: 2025-05-13 18:21:00

Melcor Developments Ltd. reported Q1 results for 2025, with $50.74 million in revenue, a 2.0% increase over 2024. The Land division contributed 44.5% of total revenue, while the Properties and REIT divisions saw a 5.6% decrease in revenue. Melcor closed the acquisition of Melcor REIT for $71.30 million on April 23, 2025.

In 2025, Melcor will focus on divesting assets to reduce borrowings. The company repurchased shares, declared a dividend of $0.11 per share, and acquired its unowned equity interest in Melcor REIT for $5.50 per Unit. Melcor REIT’s Units were delisted from the TSX on April 24, 2025.

Financial highlights for Q1 2025 include a net income of $5.02 million, down 60.8% from 2024, and FFO of $13.43 million, down 2.3% from 2024. Melcor’s general debt decreased by 18.6% in the past 12 months, with a debt to equity ratio of 0.64 on March 31, 2025.

Melcor’s Land division revenue increased by 10.5% in Q1 2025, driven by sales in the US region and Canadian market. The Properties division saw a fair value gain of $1.06 million from construction and leasing activities. Golf division revenues were $0.10 million in Q1 2025.

Melcor continues to focus on returning value to shareholders, with share repurchases and a dividend declaration. The company is committed to building communities that enrich quality of life and has been in the real estate industry since 1923. Melcor trades on the Toronto Stock Exchange under the symbol MRD.



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