PPRQF Income Statement

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

Millions CAD. 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	1,405	1,358	1,309	1,265	1,292	1,271
Other Revenue	33.63	38.11	52.24	28.92	27.28	35.67
Total Revenue	1,502	1,470	1,430	1,336	1,340	1,320
Revenue Growth (YoY	1.19%	2.82%	6.99%	-0.25%	1.50%	-1.71%
Property Expenses	434.63	390.8	390.07	363.95	380.31	384.02
Selling, General & Administrative	62.67	67.83	64.23	47.82	40.92	36.72
Provision for Loan Losses	-	-	-	-	1.5	-7.83
Total Operating Expenses	497.7	458.98	454.36	413.97	422.3	430.07
Operating Income	1,005	1,011	975.39	922.41	917.37	889.85
Interest Expense	-594.35	-586.39	-566.15	-536.86	-533.01	-535.76
Currency Exchange Gain (Loss)	-	-	-	-	-	1.18
Other Non-Operating Income	-	-	-	-	-	-2.23
EBT Excluding Unusual Items	410.19	424.7	409.25	385.55	384.36	353.04
Merger & Restructuring Charges	38.56	38.56	-0.03	-5.11	-	-1.59
Gain (Loss) on Sale of Investments	38.09	-10.1	-47.26	80.39	43.48	-36.82
Asset Writedown	126.01	92.73	114.15	113.12	458.82	-220.02
Other Unusual Items	170.19	237.47	320.59	170.19	-864.33	354.27
Pretax Income	783.03	783.37	796.69	744.14	22.33	448.89
Income Tax Expense	-1.05	-1.07	0	-0.12	-0.68	-1.8
Earnings From Continuing Operations	784.09	784.44	796.69	744.25	23.01	450.69
Net Income	784.09	784.44	796.69	744.25	23.01	450.69
Net Income to Common	784.09	784.44	796.69	744.25	23.01	450.69
Net Income Growth	-	-1.54%	7.05%	3134.76%	-94.89%	-
Basic Shares Outstanding	328	328	328	328	328	327
Diluted Shares Outstanding	328	328	328	328	328	327
Shares Change (YoY)	0.03%	0.02%	0.03%	0.06%	0.20%	5.37%
EPS (Basic)	2.39	2.39	2.43	2.27	0.07	1.38
EPS (Diluted)	2.39	2.39	2.43	2.27	0.07	1.38
EPS Growth	-	-1.56%	7.02%	3132.97%	-94.91%	-
Dividend Per Share	0.766	0.758	0.749	0.740	0.740	0.740
Dividend Growth	1.30%	1.20%	1.22%	-	-	-
Operating Margin	66.87%	68.78%	68.22%	69.02%	68.48%	67.42%
Profit Margin	52.19%	53.36%	55.72%	55.69%	1.72%	34.14%
EBITDA	1,006	1,012	976.39	923.41	918.37	890.85
EBITDA Margin	66.94%	68.85%	68.29%	69.10%	68.55%	67.49%
D&A For Ebitda	1.01	1	1	1	1	1
EBIT	1,005	1,011	975.39	922.41	917.37	889.85
EBIT Margin	66.87%	68.78%	68.22%	69.02%	68.48%	67.42%
Funds From Operations (FFO)	772.14	746.77	726.13	697.73	689.9	652.01
FFO Per Share	1.07	1.03	1.00	0.96	0.95	0.92
Adjusted Funds From Operations (AFFO)	-	624.95	598.43	581.75	586.51	566.47
AFFO Per Share	-	0.86	0.83	0.80	0.81	0.80
FFO Payout Ratio	32.46%	33.26%	33.75%	34.75%	35.11%	36.01%

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.