Shinhan Alpha REIT Income Statement

Financials in millions KRW. Fiscal year is October - September.

Millions KRW. Fiscal year is Oct - Sep.

Fiscal Year	FY 2025	FY 2025	FY 2024	FY 2024	FY 2023
Period Ending	Sep '25 Sep 30, 2025	Mar '25 Mar 31, 2025	Sep '24 Sep 30, 2024	Mar '24 Mar 31, 2024	Sep '23 Sep 30, 2023
Revenue	165,704	137,259	116,612	106,839	95,718
Revenue Growth (YoY)	20.72%	17.71%	9.15%	11.62%	-5.18%
Cost of Revenue	3,988	3,169	2,565	2,043	2,297
Gross Profit	161,716	134,091	114,047	104,796	93,421
Selling, General & Admin	32,507	27,169	24,289	26,494	23,686
Other Operating Expenses	10,455	2,035	9,058	1,613	7,658
Operating Expenses	59,544	43,920	46,492	40,446	43,142
Operating Income	102,172	90,170	67,555	64,350	50,279
Interest Expense	-82,601	-68,929	-60,910	-49,673	-35,141
Interest & Investment Income	2,774	2,784	2,905	3,239	1,587
Other Non Operating Income (Expenses)	248.64	684.17	-381.28	574.46	95.82
EBT Excluding Unusual Items	22,594	24,709	9,168	18,491	16,821
Gain (Loss) on Sale of Investments	30.36	148.05	136.71	127.09	61.33
Pretax Income	22,624	24,857	9,305	18,618	16,883
Earnings From Continuing Operations	22,624	24,857	9,305	18,618	16,883
Earnings From Discontinued Operations	-	-	-	470.05	122,068
Net Income to Company	22,624	24,857	9,305	19,088	138,951
Minority Interest in Earnings	-9,120	-5,287	-3,074	-3,082	-3,082
Net Income	13,504	19,570	6,231	16,006	135,868
Preferred Dividends & Other Adjustments	3,304	-	3,304	3,304	-
Net Income to Common	10,200	19,570	2,927	12,702	135,868
Net Income Growth	-31.00%	214.08%	-61.07%	-88.22%	626.19%
Shares Outstanding (Basic)	121	138	88	88	88
Shares Outstanding (Diluted)	121	138	88	88	88
Shares Change (YoY)	-12.25%	56.43%	-	0.38%	18.88%
EPS (Basic)	84.34	142.00	33.22	144.17	1548.00
EPS (Diluted)	84.34	142.00	33.22	144.17	1548.00
EPS Growth	-40.61%	327.43%	-76.96%	-90.69%	641.09%
Free Cash Flow	-927,491	42,358	-409,603	-344,150	12,551
Free Cash Flow Per Share	-7669.01	307.35	-4649.29	-3906.35	143.00
Dividend Per Share	358.000	696.000	350.000	1656.000	-
Dividend Growth	-48.56%	98.86%	-78.86%	-	-
Gross Margin	97.59%	97.69%	97.80%	98.09%	97.60%
Operating Margin	61.66%	65.69%	57.93%	60.23%	52.53%
Profit Margin	6.16%	14.26%	2.51%	11.89%	141.95%
Free Cash Flow Margin	-559.73%	30.86%	-351.25%	-322.12%	13.11%
EBITDA	118,754	104,887	80,700	76,689	63,000
EBITDA Margin	71.67%	76.42%	69.20%	71.78%	65.82%
D&A For EBITDA	16,582	14,716	13,145	12,339	12,721
EBIT	102,172	90,170	67,555	64,350	50,279
EBIT Margin	61.66%	65.69%	57.93%	60.23%	52.53%

Updated Feb 7, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.