CNNRF Income Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Rental Revenue	27.44	26.12	26.55	24.73	18.95	12.98
Other Revenue	1.07	1.86	3.08	-0.9	2.97	2.52
Total Revenue	28.51	27.99	29.63	23.83	21.92	15.5
Revenue Growth (YoY	-2.87%	-5.54%	24.34%	8.71%	41.41%	67.71%
Property Expenses	7.63	7.21	7.12	6.36	4.63	3.12
Selling, General & Administrative	1.08	1.25	1.02	0.89	0.81	0.73
Total Operating Expenses	9.59	9.22	8.68	7.85	5.75	3.88
Operating Income	18.92	18.76	20.95	15.98	16.17	11.62
Interest Expense	-7.39	-7.32	-7.64	-6.58	-4.68	-3.25
Interest & Investment Income	0.32	0.39	0.39	0.32	0.24	0.23
Other Non-Operating Income	-0.09	-0.07	0.21	0.53	0.08	0.9
EBT Excluding Unusual Items	11.76	11.76	13.91	10.24	11.82	9.49
Gain (Loss) on Sale of Assets	-	-	-	-	0.06	-0.18
Asset Writedown	1.53	-4.76	4.32	-16.74	13.36	0.31
Other Unusual Items	0.09	-	-	-	-	-
Pretax Income	13.38	7.01	18.23	-6.5	25.24	9.62
Income Tax Expense	-0.1	-0.1	0.01	-0	0.15	0
Earnings From Continuing Operations	13.48	7.1	18.22	-6.49	25.09	9.62
Net Income	13.48	7.1	18.22	-6.49	25.09	9.62
Net Income to Common	13.48	7.1	18.22	-6.49	25.09	9.62
Net Income Growth	39.55%	-61.02%	-	-	160.78%	135.74%
Basic Shares Outstanding	21	21	21	21	19	15
Diluted Shares Outstanding	21	21	21	21	19	15
Shares Change (YoY)	0.17%	-0.06%	0.25%	10.44%	23.20%	34.89%
EPS (Basic)	0.65	0.35	0.89	-0.32	1.35	0.66
EPS (Diluted)	0.65	0.35	0.89	-0.32	1.35	0.65
EPS Growth	39.31%	-60.99%	-	-	106.83%	78.87%
Dividend Per Share	0.346	0.345	0.345	0.340	0.300	0.256
Dividend Growth	0.29%	-	1.47%	13.33%	17.37%	15.14%
Operating Margin	66.36%	67.05%	70.70%	67.05%	73.76%	74.94%
Profit Margin	47.28%	25.38%	61.50%	-27.25%	114.46%	62.07%
EBIT	18.92	18.76	20.95	15.98	16.17	11.62
EBIT Margin	66.36%	67.05%	70.70%	67.05%	73.76%	74.94%
Funds From Operations (FFO)	13.42	12.36	13.06	13.04	10.79	7.13
Adjusted Funds From Operations (AFFO)	-	11.59	11.72	12.15	10.03	6.56
FFO Payout Ratio	53.10%	57.39%	54.33%	53.43%	51.68%	52.67%
Effective Tax Rate	-	-	0.03%	-	0.58%	0.02%

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