Dipula Properties Income Statement

Financials in millions ZAR. Fiscal year is September - August.

Millions ZAR. Fiscal year is Sep - Aug.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug '25 Aug 31, 2025	Aug '24 Aug 31, 2024	Aug '23 Aug 31, 2023	Aug '22 Aug 31, 2022	Aug '21 Aug 31, 2021
Rental Revenue	1,130	1,110	1,103	1,070	1,050
Tenant Reimbursements	387.03	344.99	292.39	282.17	263.54
Total Revenue	1,517	1,455	1,395	1,352	1,314
Revenue Growth (YoY	4.27%	4.32%	3.19%	2.89%	1.74%
Property Expenses	591.96	552.65	474	453.43	405.24
Selling, General & Administrative	51.9	48.63	61.08	46.58	42.33
Total Operating Expenses	655.24	615.79	546.2	505.48	489.15
Operating Income	862.19	839.52	848.84	846.5	824.81
Interest Expense	-368.66	-379.66	-332.72	-156.24	-223.81
Interest & Investment Income	22.37	19.36	15.55	15.27	14.45
Other Non-Operating Income	-1.55	-1.55	-1.68	3.57	-11.52
EBT Excluding Unusual Items	514.35	477.68	530	709.1	603.93
Asset Writedown	453.51	302.58	148.72	368.76	-35.01
Pretax Income	967.86	780.26	678.71	1,078	568.92
Income Tax Expense	-	-	0.26	-	85.72
Earnings From Continuing Operations	967.86	780.26	678.45	1,078	483.2
Minority Interest in Earnings	-35.99	-5.96	-90.42	2.66	-53.74
Net Income	931.87	774.3	588.03	1,081	429.45
Net Income to Common	931.87	774.3	588.03	1,081	429.45
Net Income Growth	20.35%	31.68%	-45.58%	151.60%	260.67%
Basic Shares Outstanding	910	910	912	894	529
Diluted Shares Outstanding	910	910	912	894	529
Shares Change (YoY)	-	-0.17%	2.04%	68.84%	-0.59%
EPS (Basic)	1.02	0.85	0.64	1.21	0.81
EPS (Diluted)	1.02	0.85	0.64	1.21	0.81
EPS Growth	20.35%	31.90%	-46.67%	49.01%	262.81%
Dividend Per Share	0.515	0.490	0.513	0.732	0.897
Dividend Growth	5.26%	-4.50%	-29.96%	-18.40%	-21.65%
Operating Margin	56.82%	57.69%	60.85%	62.61%	62.77%
Profit Margin	61.41%	53.21%	42.15%	79.92%	32.68%
EBITDA	870.43	847.47	855.84	852.03	868
EBITDA Margin	57.36%	58.23%	61.35%	63.02%	66.06%
D&A For Ebitda	8.24	7.94	7	5.54	43.19
EBIT	862.19	839.52	848.84	846.5	824.81
EBIT Margin	56.82%	57.69%	60.85%	62.61%	62.77%
Funds From Operations (FFO)	514.08	489.45	507.16	544.29	460.43
Adjusted Funds From Operations (AFFO)	514.08	489.45	507.16	544.29	460.43
FFO Payout Ratio	94.64%	98.82%	105.76%	108.08%	65.62%
Effective Tax Rate	-	-	0.04%	-	15.07%
Revenue as Reported	1,513	1,487	1,395	1,352	1,314

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