Grand City Properties 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	601.46	597.02	607.74	582.51	524.63
Other Revenue	-	-	-	-	3.95
Total Revenue	601.46	597.02	607.74	582.51	528.58
Revenue Growth (YoY	0.74%	-1.76%	4.33%	10.20%	-1.93%
Property Expenses	254.01	253.71	279.05	266.29	218.06
Selling, General & Administrative	10.61	10.63	10.91	10.69	11.14
Depreciation & Amortization	6.64	6.31	9.32	10.49	8.24
Total Operating Expenses	271.26	270.65	299.28	287.46	237.44
Operating Income	330.2	326.37	308.46	295.04	291.14
Interest Expense	-65.57	-58.85	-56.81	-46.91	-46.45
Other Non-Operating Income	-45.89	-11.25	-86.09	-137.13	-
EBT Excluding Unusual Items	218.74	256.28	165.56	110.99	244.69
Gain (Loss) on Sale of Assets	-4.15	-5.53	-8.64	2.72	63.69
Asset Writedown	276.67	49.56	-881.38	115.04	631.15
Other Unusual Items	-	-	-	-	-148.64
Pretax Income	491.26	300.31	-724.46	228.76	790.9
Income Tax Expense	-96.35	58.18	-86.39	49.65	173.81
Earnings From Continuing Operations	587.61	242.13	-638.07	179.1	617.09
Minority Interest in Earnings	-75.73	-3.14	124.26	-25.14	-68.53
Net Income	511.88	238.99	-513.81	153.96	548.56
Preferred Dividends & Other Adjustments	41.45	42.36	33.7	24.75	25.04
Net Income to Common	470.43	196.63	-547.51	129.21	523.52
Net Income Growth	114.19%	-	-	-71.93%	38.85%
Basic Shares Outstanding	176	173	172	168	168
Diluted Shares Outstanding	176	173	172	172	182
Shares Change (YoY)	2.04%	0.30%	0.44%	-5.50%	0.04%
EPS (Basic)	2.67	1.14	-3.18	0.77	3.12
EPS (Diluted)	2.67	1.14	-3.18	0.76	2.90
EPS Growth	134.36%	-	-	-73.94%	44.09%
Dividend Per Share	-	-	-	-	0.834
Dividend Growth	-	-	-	-	1.31%
Operating Margin	54.90%	54.67%	50.76%	50.65%	55.08%
Profit Margin	78.22%	32.93%	-90.09%	22.18%	99.04%
EBITDA	336.84	332.68	317.79	305.53	299.38
EBITDA Margin	56.00%	55.72%	52.29%	52.45%	56.64%
D&A For Ebitda	6.64	6.31	9.32	10.49	8.24
EBIT	330.2	326.37	308.46	295.04	291.14
EBIT Margin	54.90%	54.67%	50.76%	50.65%	55.08%
Funds From Operations (FFO)	350.81	205.18	255.71	200.82	287.55
Adjusted Funds From Operations (AFFO)	105.2	104.64	107.33	121.68	123.24
FFO Payout Ratio	-	-	-	28.05%	18.68%
Effective Tax Rate	-	19.37%	-	21.70%	21.98%

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