The Wharf (Holdings) Income Statement

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

Millions HKD. 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
Other Revenue	9,180	10,218	16,920	16,547	21,047
Total Revenue	10,997	12,115	18,950	18,064	22,378
Revenue Growth (YoY	-9.23%	-36.07%	4.91%	-19.28%	6.58%
Property Expenses	3,805	4,343	9,898	9,221	11,064
Selling, General & Administrative	1,497	1,499	1,529	1,605	2,109
Depreciation & Amortization	627	629	627	635	669
Total Operating Expenses	5,929	6,471	12,054	11,461	13,842
Operating Income	5,068	5,644	6,896	6,603	8,536
Interest Expense	-952	68	-870	-527	-181
Income (Loss) on Equity Investments	274	-213	-1,450	-100	968
Currency Exchange Gain (Loss)	-43	-388	-72	-208	-69
Other Non-Operating Income	573	-111	-33	-173	-30
EBT Excluding Unusual Items	4,920	5,000	4,471	5,595	9,224
Gain (Loss) on Sale of Investments	-340	-221	-1,041	-432	1,226
Gain (Loss) on Sale of Assets	-	-	-	-	1,105
Asset Writedown	-4,539	-11,095	-1,235	-4,937	-2,318
Pretax Income	41	-6,316	2,195	226	9,237
Income Tax Expense	-78	-3,705	1,090	1,660	2,898
Earnings From Continuing Operations	119	-2,611	1,105	-1,434	6,339
Minority Interest in Earnings	-69	-613	-160	-271	-320
Net Income	50	-3,224	945	-1,705	6,019
Net Income to Common	50	-3,224	945	-1,705	6,019
Net Income Growth	-	-	-	-	55.77%
Basic Shares Outstanding	3,056	3,056	3,056	3,056	3,055
Diluted Shares Outstanding	3,056	3,056	3,056	3,056	3,055
Shares Change (YoY)	-	-	-	0.03%	0.16%
EPS (Basic)	0.02	-1.05	0.31	-0.56	1.97
EPS (Diluted)	0.02	-1.05	0.31	-0.56	1.97
EPS Growth	-	-	-	-	55.52%
Dividend Per Share	0.400	0.400	0.400	0.400	0.400
Operating Margin	46.09%	46.59%	36.39%	36.55%	38.15%
Profit Margin	0.46%	-26.61%	4.99%	-9.44%	26.90%
EBITDA	5,732	6,307	7,556	7,277	9,250
EBITDA Margin	52.12%	52.06%	39.87%	40.28%	41.34%
D&A For Ebitda	664	663	660	674	714
EBIT	5,068	5,644	6,896	6,603	8,536
EBIT Margin	46.09%	46.59%	36.39%	36.55%	38.15%
Effective Tax Rate	-	-	49.66%	734.51%	31.37%

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