Plaza Retail REIT (PAZRF)

Plaza Retail REIT Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Rental Revenue	125.26	121.28	114.06	111.25	110.63	106.9
Other Revenue	3.65	3.26	3.29	3.69	3.97	-1.31
Total Revenue	128.91	124.54	117.35	114.94	114.61	105.59
Revenue Growth (YoY	2.75%	6.13%	2.10%	0.29%	8.54%	-7.12%
Property Expenses	48.42	46.26	43.71	40.66	38.85	38.68
Selling, General & Administrative	12.6	12.11	8.3	7.87	7.05	9.07
Total Operating Expenses	61.02	58.38	52.01	48.54	45.91	47.75
Operating Income	67.89	66.17	65.35	66.4	68.7	57.85
Interest Expense	-32.33	-32.17	-29.88	-24.02	-25.45	-32.39
Interest & Investment Income	1.25	1.36	1.21	0.56	0.51	0.5
Other Non-Operating Income	3.53	3.57	3.8	3.21	3.35	2.53
EBT Excluding Unusual Items	40.35	38.93	40.48	46.16	47.11	28.49
Gain (Loss) on Sale of Investments	1.95	1.75	1.2	0.05	0.01	-
Asset Writedown	1.49	-11.2	-20.77	7.41	57.62	-47.58
Other Unusual Items	-2.27	-1.83	-0.23	0.78	-3.48	5.17
Pretax Income	41.51	27.65	20.67	54.4	101.26	-13.92
Income Tax Expense	2.24	2.17	0.36	0.18	0.77	1.01
Earnings From Continuing Operations	39.27	25.49	20.31	54.22	100.49	-14.94
Minority Interest in Earnings	-0.42	-0.44	-0.13	-0.33	-0.87	0.03
Net Income	38.85	25.05	20.19	53.89	99.62	-14.91
Net Income to Common	38.85	25.05	20.19	53.89	99.62	-14.91
Net Income Growth	197.94%	24.07%	-62.54%	-45.90%	-	-
Basic Shares Outstanding	112	112	109	103	103	103
Diluted Shares Outstanding	112	112	109	103	103	103
Shares Change (YoY)	0.04%	1.87%	6.30%	0.01%	-0.06%	-0.61%
EPS (Basic)	0.35	0.22	0.18	0.52	0.97	-0.14
EPS (Diluted)	0.35	0.22	0.18	0.52	0.97	-0.14
EPS Growth	197.83%	21.79%	-64.76%	-45.91%	-	-
Dividend Per Share	0.280	0.280	0.280	0.280	0.280	0.280
Dividend Growth	-14.29%	-0.01%	-	-	-	-
Operating Margin	52.66%	53.13%	55.68%	57.77%	59.95%	54.78%
Profit Margin	30.14%	20.11%	17.20%	46.89%	86.92%	-14.12%
EBIT	67.89	66.17	65.35	66.4	68.7	57.85
EBIT Margin	52.66%	53.13%	55.68%	57.77%	59.95%	54.78%
Funds From Operations (FFO)	41.85	40.46	41.52	41.38	44.7	37
FFO Per Share	0.37	0.36	0.38	0.39	0.42	0.35
Adjusted Funds From Operations (AFFO)	-	31.87	31.93	33.19	37.48	32.6
AFFO Per Share	0.27	0.29	0.29	0.32	0.36	0.31
FFO Payout Ratio	73.88%	76.37%	72.97%	68.87%	63.75%	77.07%
Effective Tax Rate	5.40%	7.84%	1.74%	0.32%	0.76%	-

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