Ravelin Properties REIT (SLTTF)

Ravelin Properties 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	186.44	196.96	197.62	196.52	172.65	183.59
Total Revenue	186.44	196.96	197.62	196.52	172.65	183.59
Revenue Growth (YoY	-6.21%	-0.34%	0.56%	13.82%	-5.96%	-14.82%
Property Expenses	113.79	114.56	109.98	105.36	94.76	98.43
Selling, General & Administrative	9.43	12.93	14.25	11.19	32.98	7.87
Depreciation & Amortization	0.46	1	0.97	0.97	1.02	1.06
Total Operating Expenses	123.68	128.49	125.19	117.51	128.76	107.35
Operating Income	62.76	68.47	72.43	79	43.89	76.23
Interest Expense	-77.4	-85.69	-77.32	-17.69	4.28	-74.96
Interest & Investment Income	2.7	2.99	3.4	3.54	3.75	4.01
Other Non-Operating Income	-7.1	-3.46	2.93	1.78	-6.71	0.55
EBT Excluding Unusual Items	-19.04	-17.69	1.44	66.63	45.21	5.83
Merger & Restructuring Charges	-	-	-	-	-	-1.2
Asset Writedown	-121.3	-437.77	-138.22	-87.67	8.71	-0.11
Other Unusual Items	0.34	1.43	18.15	3.59	-4.55	9.04
Pretax Income	-140	-454.03	-118.63	-17.44	49.37	13.55
Income Tax Expense	0.8	2.5	1.15	-0.82	2.73	-0.1
Earnings From Continuing Operations	-140.8	-456.53	-119.78	-16.62	46.64	13.65
Net Income	-140.8	-456.53	-119.78	-16.62	46.64	13.65
Net Income to Common	-140.8	-456.53	-119.78	-16.62	46.64	13.65
Net Income Growth	-	-	-	-	241.73%	-78.14%
Basic Shares Outstanding	81	80	80	79	68	68
Diluted Shares Outstanding	81	80	80	79	73	73
Shares Change (YoY)	0.47%	0.29%	1.48%	7.65%	0.03%	6.81%
EPS (Basic)	-1.75	-5.69	-1.50	-0.21	0.69	0.20
EPS (Diluted)	-1.75	-5.69	-1.50	-0.21	0.64	0.19
EPS Growth	-	-	-	-	241.65%	-79.54%
Dividend Per Share	-	-	0.170	0.400	0.400	0.400
Dividend Growth	-	-	-57.48%	-	-	-12.81%
Operating Margin	33.66%	34.76%	36.65%	40.20%	25.42%	41.52%
Profit Margin	-75.52%	-231.79%	-60.61%	-8.46%	27.01%	7.43%
EBITDA	63.22	69.47	73.4	79.97	44.91	77.29
EBITDA Margin	33.91%	35.27%	37.14%	40.69%	26.01%	42.10%
D&A For Ebitda	0.46	1	0.97	0.97	1.02	1.06
EBIT	62.76	68.47	72.43	79	43.89	76.23
EBIT Margin	33.66%	34.76%	36.65%	40.20%	25.42%	41.52%
Funds From Operations (FFO)	3.16	9.11	20.67	40.06	39.46	46.83
FFO Per Share	-	0.11	0.24	0.48	0.54	0.64
Adjusted Funds From Operations (AFFO)	-	8.42	22.09	39.94	38.35	43.19
AFFO Per Share	-	0.10	0.26	0.47	0.52	0.59
FFO Payout Ratio	-	-	83.89%	83.17%	73.97%	62.35%
Effective Tax Rate	-	-	-	-	5.53%	-

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