DREUF 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	492.1	466.22	437.6	369.57	289.82	235.95
Other Revenue	26.51	42.98	4.94	38.48	39.27	-
Total Revenue	522.43	514.56	443.11	408.72	331.67	236.84
Revenue Growth (YoY	7.91%	16.12%	8.41%	23.23%	40.04%	20.08%
Property Expenses	115.85	110.79	103.42	87.98	71.92	67.06
Selling, General & Administrative	32.04	31.83	32.15	30.26	22.81	16.89
Total Operating Expenses	146.45	138.38	139.6	113.41	99.91	84.98
Operating Income	375.98	376.18	303.52	295.31	231.76	151.86
Interest Expense	-89.1	-99.07	-85.5	-18.5	-31.2	-53.67
Currency Exchange Gain (Loss)	-1.69	-1.59	1.25	-11.98	2.09	1.58
Other Non-Operating Income	19.16	18.62	-49.48	97.76	-119.4	-6.69
EBT Excluding Unusual Items	304.35	294.14	169.79	362.6	83.25	93.08
Gain (Loss) on Sale of Investments	-	-	-	-	0.91	-
Asset Writedown	-50.84	-24.77	-66.69	363.03	586.01	120.08
Other Unusual Items	-	-	-	-0.26	-31.57	-4.32
Pretax Income	253.51	269.38	103.1	725.37	638.6	208.83
Income Tax Expense	3.96	9.76	-1.2	19.48	30.26	8.68
Earnings From Continuing Operations	249.55	259.61	104.3	705.89	608.35	200.16
Earnings From Discontinued Operations	-	-	-	-	-	-0.02
Net Income	249.55	259.61	104.3	705.89	608.35	200.14
Net Income to Common	249.55	259.61	104.3	705.89	608.35	200.14
Net Income Growth	76.79%	148.91%	-85.22%	16.03%	203.97%	11.54%
Basic Shares Outstanding	286	278	273	257	234	153
Diluted Shares Outstanding	286	278	273	257	234	153
Shares Change (YoY)	3.27%	1.68%	6.48%	9.72%	53.17%	13.26%
EPS (Basic)	0.87	0.93	0.38	2.75	2.60	1.31
EPS (Diluted)	0.87	0.93	0.38	2.75	2.60	1.31
EPS Growth	71.20%	144.81%	-86.12%	5.75%	98.44%	-1.52%
Dividend Per Share	0.700	0.700	0.700	0.700	0.700	0.700
Dividend Growth	-0.01%	-0.01%	-	-	-	0.01%
Operating Margin	71.97%	73.11%	68.50%	72.25%	69.88%	64.12%
Profit Margin	47.77%	50.45%	23.54%	172.70%	183.42%	84.50%
EBITDA	376.03	376.19	303.7	295.31	231.78	151.87
EBITDA Margin	71.98%	73.11%	68.54%	72.25%	69.88%	64.13%
D&A For Ebitda	0.05	0.01	0.18	0	0.02	0.02
EBIT	375.98	376.18	303.52	295.31	231.76	151.86
EBIT Margin	71.97%	73.11%	68.50%	72.25%	69.88%	64.12%
Funds From Operations (FFO)	301.95	288.88	274.63	240.49	-	-
FFO Per Share	1.03	1.00	0.98	0.89	-	-
Adjusted Funds From Operations (AFFO)	-	288.88	274.63	240.49	-	-
AFFO Per Share	-	1.00	0.98	0.89	-	-
FFO Payout Ratio	47.47%	48.55%	48.93%	56.58%	-	-
Effective Tax Rate	1.56%	3.62%	-	2.69%	4.74%	4.15%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.