Killam Apartment REIT Income Statement

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

Millions CAD. 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	383.4	364.65	348.15	328.85	290.92
Other Revenue	2.23	1.5	1.37	1.44	0.82
Total Revenue	385.63	367.04	349.96	330.64	291.98
Revenue Growth (YoY	5.07%	4.88%	5.84%	13.24%	11.30%
Property Expenses	128.57	124.17	124.11	121.94	107.68
Selling, General & Administrative	21.74	19.35	19.63	14.92	17.86
Depreciation & Amortization	1.02	1.07	0.67	0.57	0.57
Total Operating Expenses	150.39	144.59	144.41	137.43	126.11
Operating Income	235.24	222.45	205.55	193.22	165.86
Interest Expense	-84.45	-79.49	-69.11	-61.42	-51.62
Other Non-Operating Income	2.08	3.13	-7.11	29.41	-26.01
EBT Excluding Unusual Items	152.87	146.09	129.33	161.22	88.24
Gain (Loss) on Sale of Assets	-2.52	-3.68	-4.02	-	-
Asset Writedown	-120.47	252.36	174.18	-19.87	239.68
Pretax Income	29.41	388.87	299.49	141.35	327.92
Income Tax Expense	-	-278.98	33.16	18.81	42.39
Earnings From Continuing Operations	29.41	667.84	266.33	122.53	285.53
Minority Interest in Earnings	-	-	-0.01	-0.02	-0.01
Net Income	29.41	667.84	266.32	122.52	285.51
Net Income to Common	29.41	667.84	266.32	122.52	285.51
Net Income Growth	-95.60%	150.76%	117.38%	-57.09%	95.53%
Basic Shares Outstanding	-	119	118	116	107
Diluted Shares Outstanding	-	123	122	120	112
Shares Change (YoY)	-	1.21%	1.65%	7.21%	8.15%
EPS (Basic)	-	5.61	2.27	1.06	2.66
EPS (Diluted)	-	5.42	2.19	1.02	2.56
EPS Growth	-	147.78%	113.84%	-59.98%	80.79%
Dividend Per Share	-	0.703	0.700	0.700	0.687
Dividend Growth	-	0.48%	-	1.93%	1.47%
Operating Margin	61.00%	60.61%	58.74%	58.44%	56.81%
Profit Margin	7.63%	181.96%	76.10%	37.05%	97.79%
EBITDA	236.26	223.52	206.22	193.79	166.44
EBITDA Margin	61.27%	60.90%	58.93%	58.61%	57.00%
D&A For Ebitda	1.02	1.07	0.67	0.57	0.57
EBIT	235.24	222.45	205.55	193.22	165.86
EBIT Margin	61.00%	60.61%	58.74%	58.44%	56.81%
Funds From Operations (FFO)	-	144.91	139.76	132.6	119.24
FFO Per Share	-	1.18	1.15	1.11	1.07
Adjusted Funds From Operations (AFFO)	-	121.73	117.8	111.56	100.44
AFFO Per Share	-	0.99	0.97	0.93	0.90
FFO Payout Ratio	-	41.74%	40.93%	42.46%	43.15%
Effective Tax Rate	-	-	11.07%	13.31%	12.93%

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