Heriot REIT Limited (JSE: HET)

Heriot REIT Income Statement

Financials in millions ZAR. Fiscal year is July - June.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Dec 31, 2023	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019
Rental Revenue	760.61	484.87	450.24	398.72	401.74	377.58
Tenant Reimbursements	141.09	141.09	125.74	105.42	106.35	95.58
Total Revenue	917.07	625.96	575.98	504.13	508.09	473.16
Revenue Growth (YoY	53.06%	8.68%	14.25%	-0.78%	7.38%	15.23%
Property Expenses	302.19	202.03	192.62	154.62	139.42	119.51
Selling, General & Administrative	61.32	46.71	48.1	40.62	39.17	33.54
Other Operating Expenses	-17.62	-12.47	-9.63	-8.6	-12.96	-7.67
Total Operating Expenses	345.89	236.28	231.09	186.64	165.63	145.38
Operating Income	571.18	389.68	344.89	317.49	342.46	327.78
Interest Expense	-310.52	-201.87	-125.36	-112.51	-155.5	-140.71
Interest & Investment Income	11.46	10.31	11.83	10.69	7.56	10.56
Income (Loss) on Equity Investments	52.92	78.12	114.89	-2.27	0.27	-3
Other Non-Operating Income	-0.5	-0.39	-5.85	-0.98	1.28	1.36
EBT Excluding Unusual Items	324.53	275.85	340.41	212.43	196.05	195.98
Gain (Loss) on Sale of Investments	-47.71	-47.71	-70.21	20.32	-	-
Total Insurance Settlements	-	-	5	-	-	-
Asset Writedown	295.82	289.31	338.87	91.5	-106.28	23.4
Other Unusual Items	464.29	464.29	-	-	-	-
Pretax Income	1,037	981.74	614.08	324.25	89.77	219.38
Income Tax Expense	5.22	4.33	-0.15	1.85	1.71	5.46
Earnings From Continuing Operations	1,032	977.41	614.23	322.4	88.06	213.92
Minority Interest in Earnings	-54.13	-13.39	-4.65	-9.37	-5.35	-4.72
Net Income	977.58	964.02	609.58	313.03	82.71	209.2
Net Income to Common	977.58	964.02	609.58	313.03	82.71	209.2
Net Income Growth	44.44%	58.15%	94.74%	278.46%	-60.46%	-54.53%
Basic Shares Outstanding	255	255	255	255	255	255
Diluted Shares Outstanding	255	255	255	255	255	255
Shares Change (YoY)	-	-	-	-	-	1.20%
EPS (Basic)	3.83	3.77	2.39	1.23	0.32	0.82
EPS (Diluted)	3.83	3.77	2.39	1.23	0.32	0.82
EPS Growth	44.44%	58.15%	94.74%	278.46%	-60.46%	-55.07%
Dividend Per Share	1.042	1.063	1.020	0.907	0.842	0.809
Dividend Growth	0.47%	4.19%	12.49%	7.74%	4.12%	10.52%
Operating Margin	62.28%	62.25%	59.88%	62.98%	67.40%	69.27%
Profit Margin	106.60%	154.01%	105.83%	62.09%	16.28%	44.21%
Free Cash Flow Margin	26.73%	42.07%	43.15%	50.18%	43.38%	43.12%
EBITDA	578	396.35	347.24	319.55	343.98	329.07
EBITDA Margin	63.03%	63.32%	60.29%	63.39%	67.70%	69.55%
D&A For Ebitda	6.82	6.67	2.34	2.06	1.53	1.29
EBIT	571.18	389.68	344.89	317.49	342.46	327.78
EBIT Margin	62.28%	62.25%	59.88%	62.98%	67.40%	69.27%
Effective Tax Rate	0.50%	0.44%	-	0.57%	1.91%	2.49%
Revenue as Reported	917.07	625.96	575.98	504.13	508.09	473.16

Source: S&P Capital IQ. Real Estate template. Financial Sources.