Trade Estates REIC Income Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Rental Revenue	41.12	37.52	23.92	18.89	13.3
Other Revenue	11.14	8.09	2.92	3.09	0.45
Total Revenue	52.26	45.61	26.84	21.98	13.75
Revenue Growth (YoY	14.58%	69.94%	22.10%	59.88%	-
Property Expenses	15.44	11.37	4.71	3.57	0.78
Selling, General & Administrative	0.62	1.06	1.31	0.42	-
Depreciation & Amortization	0.65	0.5	0.28	0.19	0.03
Other Operating Expenses	5.13	4.74	3.74	2.47	1.39
Total Operating Expenses	21.84	17.67	10.04	6.66	2.2
Operating Income	30.42	27.93	16.8	15.32	11.55
Interest Expense	-13.38	-16.27	-7.22	-3.52	-1.01
Interest & Investment Income	5.12	5.48	0.59	0.27	-
Currency Exchange Gain (Loss)	-0.01	-0.01	-0.01	-	-
Other Non-Operating Income	-0.21	-0.63	-0.29	-0.53	-0.02
EBT Excluding Unusual Items	21.94	16.52	9.87	11.53	10.52
Gain (Loss) on Sale of Investments	2.35	-	-	-	-
Asset Writedown	18.32	10.95	30.24	13.58	6.07
Pretax Income	42.61	27.47	40.11	25.11	16.59
Income Tax Expense	2.7	3.44	2.4	1.1	0.99
Net Income	39.91	24.04	37.71	24.01	15.6
Net Income to Common	39.91	24.04	37.71	24.01	15.6
Net Income Growth	66.04%	-36.26%	57.09%	53.86%	-
Basic Shares Outstanding	121	121	94	87	87
Diluted Shares Outstanding	121	121	94	87	87
Shares Change (YoY)	0.00%	28.83%	7.83%	-	-
EPS (Basic)	0.33	0.20	0.40	0.28	0.18
EPS (Diluted)	0.33	0.20	0.40	0.28	0.18
EPS Growth	65.48%	-50.52%	45.68%	53.88%	-
Dividend Per Share	0.195	0.100	0.080	-	0.120
Dividend Growth	95.27%	25.00%	-	-	-
Operating Margin	58.20%	61.25%	62.59%	69.69%	83.98%
Profit Margin	76.37%	52.70%	140.51%	109.22%	113.49%
EBITDA	30.62	28.13	16.91	15.37	11.55
EBITDA Margin	58.59%	61.68%	63.00%	69.93%	83.98%
D&A For Ebitda	0.2	0.2	0.11	0.05	-
EBIT	30.42	27.93	16.8	15.32	11.55
EBIT Margin	58.20%	61.25%	62.59%	69.69%	83.98%
Funds From Operations (FFO)	21.97	15.23	8.91	9.87	10.83
Adjusted Funds From Operations (AFFO)	21.97	15.23	8.91	9.87	-
FFO Payout Ratio	54.86%	63.32%	83.88%	52.73%	-
Effective Tax Rate	6.34%	12.50%	5.99%	4.38%	5.96%
Revenue as Reported	51.87	46.19	26.69	20.81	13.98

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.