TUERF 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	121.47	126.91	132.2	143.58	138.52	139.43
Total Revenue	121.47	126.91	132.2	143.58	138.52	139.43
Revenue Growth (YoY	-5.17%	-4.01%	-7.92%	3.65%	-0.65%	30.97%
Property Expenses	62.18	61.09	59.66	57.09	55.9	55.48
Selling, General & Administrative	5.71	5.83	5.64	6.05	6.91	5.77
Total Operating Expenses	67.88	66.92	65.3	63.15	62.8	61.25
Operating Income	53.59	59.99	66.91	80.43	75.72	78.18
Interest Expense	-35.57	-35.58	-36.12	-26.61	-26.76	-36.09
Other Non-Operating Income	1.76	-0.18	10.17	4.64	-4.17	3.58
EBT Excluding Unusual Items	19.77	24.22	40.96	58.46	44.79	45.67
Asset Writedown	-50.78	-43.21	-80.21	-41.93	6.22	-5.71
Other Unusual Items	-0.72	-1.97	-1.38	-	-	-0.21
Pretax Income	-31.74	-20.95	-40.62	16.53	51	39.75
Net Income	-31.74	-20.95	-40.62	16.53	51	39.75
Net Income to Common	-31.74	-20.95	-40.62	16.53	51	39.75
Net Income Growth	-	-	-	-67.59%	28.31%	64.41%
Basic Shares Outstanding	14	14	16	16	15	15
Diluted Shares Outstanding	14	14	16	16	15	15
Shares Change (YoY)	-2.26%	-10.16%	-1.82%	3.49%	2.75%	1.87%
EPS (Basic)	-2.27	-1.49	-2.59	1.04	3.31	2.65
EPS (Diluted)	-2.27	-1.49	-2.59	1.04	3.31	2.65
EPS Growth	-	-	-	-68.68%	24.88%	61.40%
Dividend Per Share	0.403	-	1.708	3.415	3.416	3.416
Dividend Growth	183.05%	-	-50.00%	-0.01%	-	-
Operating Margin	44.12%	47.27%	50.61%	56.02%	54.66%	56.07%
Profit Margin	-26.13%	-16.51%	-30.73%	11.52%	36.82%	28.51%
EBIT	53.59	59.99	66.91	80.43	75.72	78.18
EBIT Margin	44.12%	47.27%	50.61%	56.02%	54.66%	56.07%
Funds From Operations (FFO)	31.57	36.78	41.41	56.3	53.8	53.21
FFO Per Share	2.16	2.42	2.52	3.48	3.39	3.39
Adjusted Funds From Operations (AFFO)	-	37.83	40.62	55.98	51.41	51.09
AFFO Per Share	-	2.48	2.47	3.46	3.22	3.28
FFO Payout Ratio	15.74%	-	75.21%	86.38%	87.70%	82.78%

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