Exemplar REITail 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	1,436	1,331	1,220	1,047	884.61	789.21
Other Revenue	1.83	-	-	-	-	-
Total Revenue	1,437	1,331	1,220	1,047	884.61	789.21
Revenue Growth (YoY	12.59%	9.14%	16.44%	18.41%	12.09%	8.45%
Property Expenses	501.66	459.64	428.37	348.98	329.78	289.55
Selling, General & Administrative	85.61	81.79	71.66	56.95	43.79	35.25
Other Operating Expenses	-57.22	-49.96	-27.58	-33.03	-22.94	-16.83
Total Operating Expenses	530.05	491.47	472.46	372.9	350.64	307.97
Operating Income	907.29	839.74	747.24	674.59	533.97	481.23
Interest Expense	-357.35	-339.66	-287.03	-200.41	-166.06	-159.51
Interest & Investment Income	28.07	20.72	15.9	34.67	15.75	23.75
Other Non-Operating Income	-18.16	7.62	-42.87	12.23	13.82	-51.69
EBT Excluding Unusual Items	559.85	528.43	433.23	521.08	397.48	293.78
Total Insurance Settlements	-	-	-	91.52	343.71	-
Asset Writedown	702.6	690.55	360.76	467.61	265.13	-39.52
Other Unusual Items	-	-	-	-0	-0.06	-1.1
Pretax Income	1,262	1,219	793.99	1,080	1,006	253.15
Income Tax Expense	26.53	40.78	39.97	51.49	11.3	17.34
Earnings From Continuing Operations	1,236	1,178	754.03	1,029	994.96	235.81
Minority Interest in Earnings	-73.61	-67.22	-45.33	-53.38	-80.69	-4.29
Net Income	1,162	1,111	708.69	975.34	914.27	231.52
Net Income to Common	1,162	1,111	708.69	975.34	914.27	231.52
Net Income Growth	61.51%	56.77%	-27.34%	6.68%	294.91%	-35.94%
Basic Shares Outstanding	334	332	332	332	332	327
Diluted Shares Outstanding	342	341	342	338	332	327
Shares Change (YoY)	0.05%	-0.21%	1.18%	1.75%	1.67%	1.48%
EPS (Basic)	3.48	3.34	2.13	2.94	2.75	0.71
EPS (Diluted)	3.40	3.25	2.07	2.88	2.75	0.71
EPS Growth	61.42%	57.10%	-28.18%	4.84%	288.43%	-36.88%
Dividend Per Share	1.510	1.363	1.213	1.411	1.176	0.850
Dividend Growth	18.62%	12.36%	-14.04%	20.00%	38.30%	-7.84%
Operating Margin	63.12%	63.08%	61.26%	64.40%	60.36%	60.98%
Profit Margin	80.86%	83.46%	58.10%	93.11%	103.35%	29.34%
EBITDA	911.16	842.9	748.96	675.83	534.81	481.77
EBITDA Margin	63.39%	63.32%	61.41%	64.52%	60.46%	61.05%
D&A For Ebitda	3.87	3.15	1.73	1.24	0.84	0.54
EBIT	907.29	839.74	747.24	674.59	533.97	481.23
EBIT Margin	63.12%	63.08%	61.26%	64.40%	60.36%	60.98%
Effective Tax Rate	2.10%	3.35%	5.03%	4.77%	1.12%	6.85%

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