Afine Investments Income Statement

Financials in millions ZAR. Fiscal year is March - February.

Millions ZAR. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug '25 Aug 31, 2025	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022	Feb '21 Feb 28, 2021
Rental Revenue	52.05	48.07	44.77	43.29	29.69	-
Other Revenue	0.07	-	-	-	3.64	-47.42
Total Revenue	52.12	48.07	44.77	43.29	33.33	-47.42
Revenue Growth (YoY	16.28%	7.37%	3.43%	29.90%	-	-
Property Expenses	2.58	2.58	3.62	2.93	2.02	-
Selling, General & Administrative	2.11	2.11	1.74	1.83	2.46	-
Depreciation & Amortization	-	-	0.03	0.05	-	-
Other Operating Expenses	1.36	1.06	0.39	0.47	0.56	-
Total Operating Expenses	6.05	5.75	5.79	3.15	5.04	-
Operating Income	46.07	42.33	38.98	40.15	28.28	-47.42
Interest Expense	-11.26	-11.78	-12.11	-10.01	-5.06	-
Interest & Investment Income	0.01	0.01	0.1	0.19	0.28	-
Currency Exchange Gain (Loss)	-	-	-	-	0.09	-
Other Non-Operating Income	-	-	-	-	-0	-
EBT Excluding Unusual Items	34.82	30.55	26.98	30.32	23.59	-47.42
Gain (Loss) on Sale of Investments	-	-	-	-	30.48	-
Asset Writedown	37.92	39.22	41.71	-6.5	130.41	-
Other Unusual Items	-	-	-	1.06	25.15	33.07
Pretax Income	72.74	69.77	68.69	24.88	209.63	-14.35
Income Tax Expense	-	-	-	0.05	-29.77	-
Net Income	72.74	69.77	68.69	24.83	239.4	-14.35
Net Income to Common	72.74	69.77	68.69	24.83	239.4	-14.35
Net Income Growth	4.26%	1.57%	176.62%	-89.63%	-	-
Basic Shares Outstanding	73	73	73	73	51	64
Diluted Shares Outstanding	73	73	73	73	51	64
Shares Change (YoY)	-	-	-	42.12%	-20.25%	-
EPS (Basic)	1.00	0.96	0.95	0.34	4.69	-0.22
EPS (Diluted)	1.00	0.96	0.95	0.34	4.69	-0.22
EPS Growth	4.27%	1.57%	176.66%	-92.70%	-	-
Dividend Per Share	0.448	0.428	0.410	0.399	0.528	-
Dividend Growth	9.27%	4.39%	2.76%	-24.43%	-	-
Operating Margin	88.39%	88.05%	87.06%	92.73%	84.86%	-
Profit Margin	139.58%	145.13%	153.42%	57.36%	718.30%	-
EBITDA	-	42.36	39.02	40.2	-	-
EBITDA Margin	-	88.12%	87.14%	92.85%	-	-
D&A For Ebitda	-	0.03	0.03	0.05	-	-
EBIT	46.07	42.33	38.98	40.15	28.28	-47.42
EBIT Margin	88.39%	88.05%	87.06%	92.73%	84.86%	-
Funds From Operations (FFO)	31.54	31.54	-	-	-	-
Adjusted Funds From Operations (AFFO)	-	31.54	-	-	-	-
FFO Payout Ratio	98.44%	94.30%	-	-	-	-
Effective Tax Rate	-	-	-	0.20%	-	-

Updated Aug 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.