Derwent London Income Statement

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

Millions GBP. 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	218.3	214.8	212.8	207	195.3
Other Revenue	188.2	64.7	55.2	44.3	33
Total Revenue	406.5	279.5	268	251.3	228.3
Revenue Growth (YoY	45.44%	4.29%	6.64%	10.07%	-15.00%
Property Expenses	205	78.3	71.2	53.9	52.8
Selling, General & Administrative	39.1	41.8	40.8	38.2	37.1
Other Operating Expenses	-0.1	-0.1	-0.1	-	-
Total Operating Expenses	244.5	120.2	113.9	91.1	92.1
Operating Income	162	159.3	154.1	160.2	136.2
Interest Expense	-50.5	-41.5	-41.5	-39.7	-28.1
Interest & Investment Income	2	0.2	0.8	0.2	-
Other Non-Operating Income	-2	-0.9	-1.6	5.6	2.9
EBT Excluding Unusual Items	111.5	117.1	111.8	126.3	111
Gain (Loss) on Sale of Investments	-	-0.3	-9.2	-9.3	-
Gain (Loss) on Sale of Assets	-2.2	1.9	1.2	25.6	10.4
Asset Writedown	52.2	-2.7	-581.5	-422.1	131.1
Other Unusual Items	-	-	1.8	-	-
Pretax Income	161.5	116	-475.9	-279.5	252.5
Income Tax Expense	0.4	0.1	0.5	1	-1.3
Earnings From Continuing Operations	161.1	115.9	-476.4	-280.5	253.8
Minority Interest in Earnings	-	-	-	-	-1.5
Net Income	161.1	115.9	-476.4	-280.5	252.3
Net Income to Common	161.1	115.9	-476.4	-280.5	252.3
Net Income Growth	39.00%	-	-	-	-
Basic Shares Outstanding	112	112	112	112	112
Diluted Shares Outstanding	112	113	112	112	112
Shares Change (YoY)	-0.31%	0.27%	0.02%	-0.13%	0.45%
EPS (Basic)	1.44	1.03	-4.24	-2.50	2.25
EPS (Diluted)	1.44	1.03	-4.24	-2.50	2.24
EPS Growth	39.42%	-	-	-	-
Dividend Per Share	0.815	0.805	0.795	0.785	0.765
Dividend Growth	1.24%	1.26%	1.27%	2.61%	2.75%
Operating Margin	39.85%	56.99%	57.50%	63.75%	59.66%
Profit Margin	39.63%	41.47%	-177.76%	-111.62%	110.51%
EBITDA	162.8	160.3	155.2	161.2	137.1
EBITDA Margin	40.05%	57.35%	57.91%	64.15%	60.05%
D&A For Ebitda	0.8	1	1.1	1	0.9
EBIT	162	159.3	154.1	160.2	136.2
EBIT Margin	39.85%	56.99%	57.50%	63.75%	59.66%
Effective Tax Rate	0.25%	0.09%	-	-	-

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