BVMF:HBRE3 Income Statement

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

Millions BRL. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	540.3	532.61	162.98	137.33	138.8	99.52
Other Revenue	10.61	-6.96	-1.15	-2.45	-17.22	-16.73
Total Revenue	550.92	525.65	161.83	134.88	121.58	82.79
Revenue Growth (YoY	225.45%	224.82%	19.98%	10.93%	46.86%	-9.93%
Property Expenses	334.45	323.49	33	29.1	22.3	14.05
Selling, General & Administrative	48.46	48.83	49.55	45.99	32.81	28.13
Other Operating Expenses	-1.19	-1.2	2.06	10.52	1.03	-15.89
Total Operating Expenses	381.71	371.12	84.61	85.62	56.14	26.29
Operating Income	169.2	154.53	77.22	49.26	65.45	56.5
Interest Expense	-205.14	-195.55	-143.8	-122.68	-121.75	-123.44
Interest & Investment Income	21.24	20.09	17.06	28.01	44.37	24.25
Other Non-Operating Income	-8.18	-7.36	-2.88	-2.13	-	-
EBT Excluding Unusual Items	-22.88	-28.29	-52.4	-47.55	-11.94	-42.69
Gain (Loss) on Sale of Investments	-0.52	-0.52	15.73	-3.78	-	-
Gain (Loss) on Sale of Assets	-2.09	-2.09	-0.18	-	-	-
Asset Writedown	185.74	185.74	189.16	388.18	159.13	253.04
Pretax Income	161.46	154.84	152.31	336.85	147.2	210.35
Income Tax Expense	59.33	58.02	16.79	69.64	26.72	29.87
Earnings From Continuing Operations	102.13	96.82	135.52	267.22	120.48	180.48
Minority Interest in Earnings	-72.14	-69.33	-87.88	-135.4	-57.45	-24.32
Net Income	29.98	27.5	47.65	131.82	63.04	156.16
Net Income to Common	29.98	27.5	47.65	131.82	63.04	156.16
Net Income Growth	-15.46%	-42.29%	-63.85%	109.11%	-59.63%	-
Basic Shares Outstanding	103	103	103	103	103	103
Diluted Shares Outstanding	103	103	103	103	103	103
Shares Change (YoY)	-1.47%	-	-	-	-	58.78%
EPS (Basic)	0.29	0.27	0.46	1.28	0.61	1.51
EPS (Diluted)	0.29	0.27	0.46	1.28	0.61	1.51
EPS Growth	-14.19%	-42.29%	-63.85%	109.11%	-59.63%	-
Dividend Per Share	-	1.165	-	-	-	-
Operating Margin	30.71%	29.40%	47.72%	36.52%	53.83%	68.25%
Profit Margin	5.44%	5.23%	29.44%	97.73%	51.85%	188.63%
EBITDA	176.26	161.57	81.76	51.23	66.36	57.12
EBITDA Margin	31.99%	30.74%	50.52%	37.99%	54.58%	69.00%
D&A For Ebitda	7.05	7.04	4.54	1.98	0.92	0.62
EBIT	169.2	154.53	77.22	49.26	65.45	56.5
EBIT Margin	30.71%	29.40%	47.72%	36.52%	53.83%	68.25%
Effective Tax Rate	36.75%	37.47%	11.02%	20.67%	18.15%	14.20%
Revenue as Reported	19.19	-	-	153.38	140.87	87.9

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