Plaza Retail REIT (PAZRF)

Plaza Retail REIT Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Rental Revenue	119.62	114.06	111.25	110.63	106.9	112.46
Other Revenue	4.45	3.29	3.69	3.97	-1.31	1.23
Total Revenue	124.07	117.35	114.94	114.61	105.59	113.69
Revenue Growth (YoY	7.81%	2.10%	0.29%	8.54%	-7.12%	10.89%
Property Expenses	46.09	43.71	40.66	38.85	38.68	39.73
Selling, General & Administrative	9.74	8.3	7.87	7.05	9.07	9.91
Total Operating Expenses	55.83	52.01	48.54	45.91	47.75	49.64
Operating Income	68.24	65.35	66.4	68.7	57.85	64.05
Interest Expense	-34.87	-29.88	-24.02	-25.45	-32.39	-29.92
Interest & Investment Income	1.49	1.21	0.56	0.51	0.5	0.98
Other Non-Operating Income	3.3	3.8	3.21	3.35	2.53	3.94
EBT Excluding Unusual Items	38.15	40.48	46.16	47.11	28.49	39.06
Gain (Loss) on Sale of Investments	1.2	1.2	0.05	0.01	-	-
Asset Writedown	-22.54	-20.77	7.41	57.62	-47.58	18.09
Other Unusual Items	-2.96	-0.23	0.78	-3.48	5.17	-5.25
Pretax Income	13.86	20.67	54.4	101.26	-13.92	51.89
Income Tax Expense	0.63	0.36	0.18	0.77	1.01	0.55
Earnings From Continuing Operations	13.23	20.31	54.22	100.49	-14.94	51.34
Minority Interest in Earnings	-0.19	-0.13	-0.33	-0.87	0.03	0.07
Net Income	13.04	20.19	53.89	99.62	-14.91	51.41
Net Income to Common	13.04	20.19	53.89	99.62	-14.91	51.41
Net Income Growth	-65.83%	-62.54%	-45.90%	-	-	326.15%
Basic Shares Outstanding	112	109	103	103	103	104
Diluted Shares Outstanding	112	109	103	103	103	104
Shares Change (YoY)	3.90%	6.30%	0.01%	-0.06%	-0.61%	0.19%
EPS (Basic)	0.12	0.18	0.52	0.97	-0.14	0.50
EPS (Diluted)	0.12	0.18	0.52	0.97	-0.14	0.50
EPS Growth	-67.11%	-64.76%	-45.91%	-	-	325.36%
Dividend Per Share	0.327	0.280	0.280	0.280	0.280	0.280
Dividend Growth	39.98%	-0.01%	0%	0%	0%	0%
Operating Margin	55.00%	55.68%	57.77%	59.95%	54.78%	56.34%
Profit Margin	10.51%	17.20%	46.89%	86.92%	-14.12%	45.22%
Free Cash Flow Margin	32.41%	36.04%	33.47%	41.77%	30.09%	37.52%
EBIT	68.24	65.35	66.4	68.7	57.85	64.05
EBIT Margin	55.00%	55.68%	57.77%	59.95%	54.78%	56.34%
Funds From Operations (FFO)	42.01	41.52	41.38	44.7	37	41.01
FFO Per Share	0.37	0.38	0.39	0.42	0.35	0.39
Adjusted Funds From Operations (AFFO)	-	31.93	33.19	37.48	32.6	36.47
AFFO Per Share	0.29	0.29	0.32	0.36	0.31	0.35
FFO Payout Ratio	73.55%	72.97%	68.87%	63.75%	77.07%	69.96%
Effective Tax Rate	4.51%	1.74%	0.32%	0.76%	-	1.07%

Source: S&P Capital IQ. Real Estate template. Financial Sources.