City Developments Income Statement

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

Millions SGD. 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
Revenue	3,587	3,271	4,941	3,293	2,626
Revenue Growth (YoY)	9.66%	-33.80%	50.03%	25.42%	24.54%
Cost of Revenue	2,124	1,809	3,293	2,046	1,648
Gross Profit	1,463	1,462	1,649	1,247	977.71
Selling, General & Admin	613.85	574.75	581.45	593.68	508.92
Other Operating Expenses	460.59	466.65	402.71	433.55	308.22
Operating Expenses	1,074	1,041	984.16	1,027	817.14
Operating Income	388.72	420.54	664.41	219.71	160.58
Interest Expense	-461.82	-552.5	-449.58	-246.11	-188.68
Interest & Investment Income	91.29	96.54	82.44	52.78	36.24
Earnings From Equity Investments	181.28	60.79	47.65	170.16	107.49
Currency Exchange Gain (Loss)	-18.56	-	-4.47	8.86	-18.94
Other Non Operating Income (Expenses)	-17.86	83.75	14.39	-33.01	-33.48
EBT Excluding Unusual Items	163.04	109.12	354.84	172.4	63.2
Gain (Loss) on Sale of Investments	478.46	-0.24	-33.61	-57.72	-4.85
Gain (Loss) on Sale of Assets	195.9	230.47	109.91	1,766	36.81
Asset Writedown	-75.37	34.67	2.68	-23.6	84.1
Other Unusual Items	-	-	38.75	0.05	35.55
Pretax Income	771.5	374.03	472.57	1,857	214.8
Income Tax Expense	135.87	162.06	123.76	542.57	87.91
Earnings From Continuing Operations	635.63	211.96	348.81	1,314	126.9
Minority Interest in Earnings	-5.95	-10.65	-31.49	-28.88	-42.18
Net Income	629.68	201.32	317.31	1,285	84.71
Preferred Dividends & Other Adjustments	9.41	10.47	12.25	12.9	12.9
Net Income to Common	620.28	190.85	305.06	1,272	71.81
Net Income Growth	212.78%	-36.56%	-75.31%	1417.27%	-
Shares Outstanding (Basic)	893	897	907	907	907
Shares Outstanding (Diluted)	928	897	952	952	907
Shares Change (YoY)	3.45%	-5.74%	-0.04%	4.96%	-
EPS (Basic)	0.69	0.21	0.34	1.40	0.08
EPS (Diluted)	0.68	0.21	0.33	1.35	0.08
EPS Growth	218.94%	-36.19%	-75.30%	1609.22%	-
Free Cash Flow	-2,020	743.17	670.77	-241.44	991.1
Free Cash Flow Per Share	-2.18	0.83	0.70	-0.25	1.09
Dividend Per Share	0.250	0.080	0.080	0.080	0.080
Dividend Growth	212.50%	-	-	-	-
Gross Margin	40.79%	44.69%	33.36%	37.86%	37.23%
Operating Margin	10.84%	12.86%	13.45%	6.67%	6.12%
Profit Margin	17.29%	5.83%	6.17%	38.64%	2.73%
Free Cash Flow Margin	-56.30%	22.72%	13.58%	-7.33%	37.74%
EBITDA	678.45	662.38	882.88	463.17	423.79
EBITDA Margin	18.91%	20.25%	17.87%	14.06%	16.14%
D&A For EBITDA	289.74	241.84	218.47	243.45	263.21
EBIT	388.72	420.54	664.41	219.71	160.58
EBIT Margin	10.84%	12.86%	13.45%	6.67%	6.12%
Effective Tax Rate	17.61%	43.33%	26.19%	29.22%	40.92%

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