FRA:4WF Income Statement

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

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Rental Revenue	12,818	12,912	13,306	12,459	16,043	15,515
Total Revenue	12,818	12,912	13,306	12,459	16,043	15,515
Revenue Growth (YoY	-3.87%	-2.96%	6.80%	-22.34%	3.40%	-3.29%
Property Expenses	2,722	2,572	2,622	2,481	5,338	4,378
Selling, General & Administrative	415	425	461	860	1,311	878
Depreciation & Amortization	221	224	230	277	330	286
Total Operating Expenses	3,358	3,221	3,313	3,618	6,979	5,542
Operating Income	9,460	9,691	9,993	8,841	9,064	9,973
Interest Expense	-1,698	-1,728	-2,098	-1,775	-662	-1,322
Income (Loss) on Equity Investments	-298	-256	-168	-68	-125	-75
Currency Exchange Gain (Loss)	-320	74	-233	378	40	-284
Other Non-Operating Income	-113	-63	-72	39	-9	-209
EBT Excluding Unusual Items	7,031	7,718	7,422	7,415	8,308	8,083
Asset Writedown	-6,365	-5,665	-1,640	-14,990	-2,270	-15,016
Pretax Income	666	2,053	5,782	-7,575	6,038	-6,933
Income Tax Expense	1,199	1,178	1,138	1,368	1,599	1,205
Earnings From Continuing Operations	-533	875	4,644	-8,943	4,439	-8,138
Minority Interest in Earnings	70	16	122	87	-48	284
Net Income	-463	891	4,766	-8,856	4,391	-7,854
Net Income to Common	-463	891	4,766	-8,856	4,391	-7,854
Net Income Growth	-	-81.31%	-	-	-	-
Basic Shares Outstanding	3,036	3,036	3,036	3,036	3,036	3,036
Diluted Shares Outstanding	3,036	3,036	3,036	3,036	3,036	3,036
EPS (Basic)	-0.15	0.29	1.57	-2.92	1.45	-2.59
EPS (Diluted)	-0.15	0.29	1.57	-2.92	1.45	-2.59
EPS Growth	-	-81.31%	-	-	-	-
Dividend Per Share	1.260	1.240	1.280	1.310	1.310	1.470
Dividend Growth	0.80%	-3.13%	-2.29%	-	-10.88%	-27.59%
Operating Margin	73.80%	75.05%	75.10%	70.96%	56.50%	64.28%
Profit Margin	-3.61%	6.90%	35.82%	-71.08%	27.37%	-50.62%
EBITDA	9,681	9,915	10,223	9,121	9,394	10,267
EBITDA Margin	75.53%	76.79%	76.83%	73.21%	58.55%	66.17%
D&A For Ebitda	221	224	230	280	330	294
EBIT	9,460	9,691	9,993	8,841	9,064	9,973
EBIT Margin	73.80%	75.05%	75.10%	70.96%	56.50%	64.28%
Effective Tax Rate	180.03%	57.38%	19.68%	-	26.48%	-

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