Choice Properties Real Estate Investment Trust (PPRQF)

PPRQF 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	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Rental Revenue	1,367	1,358	1,309	1,265	1,292	1,271
Other Revenue	28.61	38.11	52.24	28.92	27.28	35.67
Total Revenue	1,471	1,470	1,430	1,336	1,340	1,320
Revenue Growth (YoY	2.78%	2.82%	6.99%	-0.25%	1.50%	-1.71%
Property Expenses	384.53	390.8	390.07	363.95	380.31	384.02
Selling, General & Administrative	67.93	67.83	64.23	47.82	40.92	36.72
Provision for Loan Losses	-	-	-	-	1.5	-7.83
Total Operating Expenses	453.6	458.98	454.36	413.97	422.3	430.07
Operating Income	1,018	1,011	975.39	922.41	917.37	889.85
Interest Expense	-590.29	-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	438.97	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	10.57	-10.1	-47.26	80.39	43.48	-36.82
Asset Writedown	124.05	92.73	114.15	113.12	458.82	-220.02
Other Unusual Items	-67.28	237.47	320.59	170.19	-864.33	354.27
Pretax Income	544.87	783.37	796.69	744.14	22.33	448.89
Income Tax Expense	-1.06	-1.07	0	-0.12	-0.68	-1.8
Earnings From Continuing Operations	545.93	784.44	796.69	744.25	23.01	450.69
Net Income	545.93	784.44	796.69	744.25	23.01	450.69
Net Income to Common	545.93	784.44	796.69	744.25	23.01	450.69
Net Income Growth	-18.30%	-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)	0.02%	0.02%	0.03%	0.06%	0.20%	5.37%
EPS (Basic)	1.66	2.39	2.43	2.27	0.07	1.38
EPS (Diluted)	1.66	2.39	2.43	2.27	0.07	1.38
EPS Growth	-18.31%	-1.56%	7.02%	3132.97%	-94.91%	-
Dividend Per Share	0.570	0.758	0.749	0.740	0.740	0.740
Dividend Growth	-24.13%	1.20%	1.22%	-	-	-
Operating Margin	69.17%	68.78%	68.22%	69.02%	68.48%	67.42%
Profit Margin	37.10%	53.36%	55.72%	55.69%	1.72%	34.14%
EBITDA	1,019	1,012	976.39	923.41	918.37	890.85
EBITDA Margin	69.24%	68.85%	68.29%	69.10%	68.55%	67.49%
D&A For Ebitda	1	1	1	1	1	1
EBIT	1,018	1,011	975.39	922.41	917.37	889.85
EBIT Margin	69.17%	68.78%	68.22%	69.02%	68.48%	67.42%
Funds From Operations (FFO)	746.77	746.77	726.13	697.73	689.9	652.01
FFO Per Share	-	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	-	33.26%	33.75%	34.75%	35.11%	36.01%

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