Balwin Properties Income Statement

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

Millions ZAR. Fiscal year is Mar - Feb.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Feb '26 Feb 28, 2026	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022
Revenue	2,693	2,221	2,356	3,327	3,125
Revenue Growth (YoY)	21.27%	-5.75%	-29.18%	6.45%	15.73%
Cost of Revenue	1,953	1,549	1,691	2,367	2,293
Gross Profit	740.36	672.17	665.66	960.15	832.56
Selling, General & Admin	390.85	350.95	351.18	392.77	301.63
Other Operating Expenses	-34.46	-9.09	-24.54	-11.15	-16.24
Operating Expenses	356.4	341.86	326.64	381.62	319.51
Operating Income	383.96	330.31	339.02	578.53	513.05
Interest Expense	-53.25	-50.04	-50.33	-32.12	-31.08
Interest & Investment Income	18.82	17.62	30.06	36.76	33.37
Earnings From Equity Investments	-	-	-	0.33	3.51
Other Non Operating Income (Expenses)	-	-0.3	-0.29	-0.26	-
EBT Excluding Unusual Items	349.53	297.58	318.46	583.24	518.85
Gain (Loss) on Sale of Investments	-	-	-	2.46	-
Gain (Loss) on Sale of Assets	-	16.69	-8.21	1.62	-
Asset Writedown	-	-	-	3.27	-
Other Unusual Items	-	-	-	6.88	-
Pretax Income	349.53	314.27	310.26	597.46	518.85
Income Tax Expense	95.03	80.25	92.88	160.11	155.72
Earnings From Continuing Operations	254.51	234.02	217.37	437.35	363.12
Minority Interest in Earnings	-9.2	-1.35	-1.7	-1.09	-0.55
Net Income	245.31	232.68	215.67	436.27	362.58
Net Income to Common	245.31	232.68	215.67	436.27	362.58
Net Income Growth	5.43%	7.89%	-50.57%	20.32%	7.86%
Shares Outstanding (Basic)	469	468	467	465	469
Shares Outstanding (Diluted)	480	483	467	466	471
Shares Change (YoY)	-0.61%	3.36%	0.27%	-1.08%	-0.29%
EPS (Basic)	0.52	0.50	0.46	0.94	0.77
EPS (Diluted)	0.51	0.48	0.46	0.94	0.77
EPS Growth	6.08%	4.37%	-50.70%	21.65%	8.18%
Free Cash Flow	151.78	-277.95	-356.34	158.71	-220.77
Free Cash Flow Per Share	0.32	-0.58	-0.76	0.34	-0.47
Dividend Per Share	-	-	-	0.240	0.209
Dividend Growth	-	-	-	14.83%	-41.62%
Gross Margin	27.49%	30.26%	28.25%	28.86%	26.64%
Operating Margin	14.26%	14.87%	14.39%	17.39%	16.42%
Profit Margin	9.11%	10.48%	9.15%	13.11%	11.60%
Free Cash Flow Margin	5.63%	-12.52%	-15.12%	4.77%	-7.06%
EBITDA	416.72	363.06	364.77	599.07	526.54
EBITDA Margin	15.47%	16.35%	15.48%	18.01%	16.85%
D&A For EBITDA	32.76	32.76	25.75	20.54	13.49
EBIT	383.96	330.31	339.02	578.53	513.05
EBIT Margin	14.26%	14.87%	14.39%	17.39%	16.42%
Effective Tax Rate	27.19%	25.53%	29.94%	26.80%	30.01%

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