Highlands REIT Income Statement

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

Millions USD. 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	36.12	35.08	30.05	30.44	27.69	27.23
Other Revenue	0.92	1	0.94	0.92	0.94	1.71
Total Revenue	37.04	36.08	30.98	31.36	28.63	28.94
Revenue Growth (YoY	6.21%	16.46%	-1.20%	9.53%	-1.08%	-22.52%
Property Expenses	15.21	13.99	14.26	14.39	13.75	14.73
Selling, General & Administrative	13.06	11.71	12.51	11.66	12.72	14.13
Depreciation & Amortization	11.7	11.84	10.76	10.41	10.59	12.77
Total Operating Expenses	39.97	37.54	37.53	36.46	37.05	41.64
Operating Income	-2.92	-1.46	-6.55	-5.1	-8.43	-12.69
Interest Expense	-7.25	-7.63	-5.09	-2.68	-3.25	-4.49
Interest & Investment Income	0.88	1.21	1.35	0.14	0.03	0.24
EBT Excluding Unusual Items	-9.3	-7.88	-10.3	-7.64	-11.65	-16.94
Gain (Loss) on Sale of Assets	-	6.87	-	-0.01	-	0.08
Asset Writedown	-	-	-	-	-1.41	-16.8
Pretax Income	-9.3	-1.01	-10.3	-7.65	-13.06	-33.66
Earnings From Continuing Operations	-9.3	-1.01	-10.3	-7.65	-13.06	-33.66
Net Income to Company	-9.3	-1.01	-10.3	-7.65	-13.06	-33.66
Minority Interest in Earnings	0	0.01	-0	-0.01	0.01	0.07
Net Income	-9.29	-1.01	-10.3	-7.66	-13.05	-33.59
Net Income to Common	-9.29	-1.01	-10.3	-7.66	-13.05	-33.59
Basic Shares Outstanding	722	722	877	886	881	879
Diluted Shares Outstanding	722	722	877	886	881	879
Shares Change (YoY)	-4.05%	-17.67%	-0.97%	0.47%	0.25%	0.44%
EPS (Basic)	-0.01	-0.00	-0.01	-0.01	-0.01	-0.04
EPS (Diluted)	-0.01	-0.00	-0.01	-0.01	-0.01	-0.04
Operating Margin	-7.89%	-4.05%	-21.15%	-16.28%	-29.43%	-43.86%
Profit Margin	-25.09%	-2.79%	-33.25%	-24.44%	-45.57%	-116.06%
EBITDA	8.78	10.38	4.2	5.29	2.08	-0.02
EBITDA Margin	23.69%	28.78%	13.55%	16.86%	7.25%	-0.07%
D&A For Ebitda	11.7	11.84	10.75	10.39	10.5	12.68
EBIT	-2.92	-1.46	-6.55	-5.1	-8.43	-12.69
EBIT Margin	-7.89%	-4.05%	-21.15%	-16.28%	-29.43%	-43.86%
Funds From Operations (FFO)	2.36	3.92	0.3	2.6	-1.2	-4.33
Adjusted Funds From Operations (AFFO)	-	3.92	0.3	2.6	-1.2	-4.33
Revenue as Reported	37.04	36.08	30.98	31.36	28.63	28.94

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