Hang Lung Properties Income Statement

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

Millions HKD. 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	9,950	11,242	10,316	10,347	10,321
Other Revenue	3	26	36	24	8
Total Revenue	9,953	11,268	10,352	10,371	10,329
Revenue Growth (YoY	-11.67%	8.85%	-0.18%	0.41%	16.25%
Property Expenses	3,423	4,787	2,927	3,094	2,950
Selling, General & Administrative	652	650	651	650	592
Other Operating Expenses	-25	-18	-18	-17	-37
Total Operating Expenses	4,050	5,419	3,560	3,727	3,505
Operating Income	5,903	5,849	6,792	6,644	6,824
Interest Expense	-833	-833	-609	-439	-426
Interest & Investment Income	36	44	73	63	74
Currency Exchange Gain (Loss)	-	-2	5	-	-
Other Non-Operating Income	-121	-93	-83	-73	-61
EBT Excluding Unusual Items	4,985	4,965	6,178	6,195	6,411
Gain (Loss) on Sale of Assets	27	17	-1	-	17
Asset Writedown	-1,051	-937	-9	-345	460
Pretax Income	3,961	4,045	6,168	5,850	6,888
Income Tax Expense	1,633	1,388	1,572	1,453	2,083
Earnings From Continuing Operations	2,328	2,657	4,596	4,397	4,805
Minority Interest in Earnings	-522	-504	-626	-561	-937
Net Income	1,806	2,153	3,970	3,836	3,868
Net Income to Common	1,806	2,153	3,970	3,836	3,868
Net Income Growth	-16.12%	-45.77%	3.49%	-0.83%	-
Basic Shares Outstanding	4,918	4,635	4,499	4,499	4,499
Diluted Shares Outstanding	4,919	4,635	4,499	4,499	4,499
Shares Change (YoY)	6.11%	3.03%	-	0.01%	0.02%
EPS (Basic)	0.37	0.46	0.88	0.85	0.86
EPS (Diluted)	0.37	0.46	0.88	0.85	0.86
EPS Growth	-20.16%	-47.73%	3.53%	-1.14%	-
Dividend Per Share	0.520	0.520	0.780	0.780	0.780
Dividend Growth	-	-33.33%	-	-	2.63%
Operating Margin	59.31%	51.91%	65.61%	64.06%	66.07%
Profit Margin	18.14%	19.11%	38.35%	36.99%	37.45%
EBITDA	6,020	5,966	6,880	6,722	6,885
EBITDA Margin	60.48%	52.95%	66.46%	64.81%	66.66%
D&A For Ebitda	117	117	88	78	61
EBIT	5,903	5,849	6,792	6,644	6,824
EBIT Margin	59.31%	51.91%	65.61%	64.06%	66.07%
Effective Tax Rate	41.23%	34.31%	25.49%	24.84%	30.24%

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