LON:0K1E Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Rental Revenue	2,209	2,191	2,148	2,020	1,778
Total Revenue	2,209	2,191	2,148	2,020	1,778
Revenue Growth (YoY	0.83%	1.98%	6.37%	13.60%	5.96%
Property Expenses	912.59	892.13	835.93	789.16	726.9
Selling, General & Administrative	54.81	56.52	58.58	58.83	52.88
Depreciation & Amortization	622.3	585.62	565.06	543	533.43
Total Operating Expenses	1,590	1,534	1,460	1,391	1,313
Operating Income	619.44	656.75	688.9	628.88	464.87
Interest Expense	-185.26	-168.54	-149.23	-154.75	-156.88
Income (Loss) on Equity Investments	8.58	15.05	3.33	-33.82	1.21
Other Non-Operating Income	-3.81	-22.14	22.24	2.69	-17.81
EBT Excluding Unusual Items	438.95	481.12	565.23	443	291.39
Gain (Loss) on Sale of Investments	7.46	10.81	7.35	-10	51.71
Gain (Loss) on Sale of Assets	72.07	55	-0.01	215.57	221.24
Total Insurance Settlements	4.6	9.33	-	-	-
Total Legal Settlements	-61.91	-9.44	-	-	-
Pretax Income	461.16	546.82	572.58	648.57	564.34
Income Tax Expense	4.6	5.24	4.74	-6.21	13.64
Earnings From Continuing Operations	456.57	541.58	567.83	654.78	550.7
Minority Interest in Earnings	-9.66	-14.03	-15.03	-17.34	-16.91
Net Income	446.91	527.54	552.81	637.44	533.79
Preferred Dividends & Other Adjustments	3.93	3.76	3.91	4.13	4.23
Net Income to Common	442.98	523.78	548.89	633.31	529.56
Net Income Growth	-15.29%	-4.57%	-13.28%	19.42%	109.36%
Basic Shares Outstanding	117	117	117	115	115
Diluted Shares Outstanding	117	117	117	116	115
Shares Change (YoY)	0.32%	0.11%	0.92%	0.47%	0.47%
EPS (Basic)	3.79	4.49	4.71	5.49	4.62
EPS (Diluted)	3.78	4.49	4.71	5.48	4.61
EPS Growth	-15.65%	-4.72%	-14.14%	18.99%	109.98%
Dividend Per Share	6.060	5.880	5.600	4.680	4.100
Dividend Growth	3.06%	5.00%	19.66%	14.15%	2.50%
Operating Margin	28.04%	29.98%	32.06%	31.14%	26.14%
Profit Margin	20.05%	23.91%	25.55%	31.35%	29.78%
EBITDA	1,242	1,243	1,255	1,173	999.28
EBITDA Margin	56.24%	56.74%	58.40%	58.07%	56.20%
D&A For Ebitda	622.97	586.4	565.86	544	534.42
EBIT	619.44	656.75	688.9	628.88	464.87
EBIT Margin	28.04%	29.98%	32.06%	31.14%	26.14%
Funds From Operations (FFO)	998.25	1,052	-	-	-
FFO Per Share	8.32	8.77	-	-	-
Adjusted Funds From Operations (AFFO)	913.01	952.76	-	-	-
AFFO Per Share	7.61	7.94	-	-	-
FFO Payout Ratio	71.03%	65.28%	-	-	-
Effective Tax Rate	1.00%	0.96%	0.83%	-	2.42%

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