Shang Properties Income Statement

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

Millions PHP. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
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	2015 - 2019
Rental Revenue	2,821	2,684	2,540	2,165	1,820	2,129	Upgrade
Other Revenue	9,105	11,661	9,737	7,118	3,158	4,277	Upgrade
Total Revenue	11,926	14,345	12,278	9,283	4,979	6,406	Upgrade
Revenue Growth (YoY	-12.25%	16.84%	32.26%	86.46%	-22.28%	-44.12%	Upgrade
Property Expenses	4,482	4,411	3,527	3,159	2,580	3,648	Upgrade
Selling, General & Administrative	48.61	511.48	423.26	213.52	142.4	204.67	Upgrade
Depreciation & Amortization	36.3	35.46	34.01	32.04	39.11	38.42	Upgrade
Other Operating Expenses	2,319	1,674	1,219	1,352	990.2	1,075	Upgrade
Total Operating Expenses	6,886	6,632	5,203	4,757	3,752	4,965	Upgrade
Operating Income	5,040	7,713	7,074	4,526	1,227	1,441	Upgrade
Interest Expense	-103.51	-64.13	-51.03	-108.51	-119.44	-138.9	Upgrade
Interest & Investment Income	-47.87	178.56	133.4	233.8	206.3	395.95	Upgrade
Currency Exchange Gain (Loss)	-26.99	-15.72	-10.2	14.58	4.53	-3.73	Upgrade
Other Non-Operating Income	-654.95	-753.79	-1.09	-0.94	-0.62	-0.74	Upgrade
EBT Excluding Unusual Items	5,081	7,058	7,145	4,665	1,318	1,693	Upgrade
Gain (Loss) on Sale of Investments	-2.2	-2.51	4.01	0.58	-2.81	-2.65	Upgrade
Gain (Loss) on Sale of Assets	0.27	0.27	1.31	0.37	7.89	0.36	Upgrade
Total Insurance Settlements	-	-	-	-	-	9.38	Upgrade
Asset Writedown	5,201	5,201	-	-	-	-	Upgrade
Other Unusual Items	-	-	-	-	-	159.52	Upgrade
Pretax Income	10,280	12,257	7,151	4,666	1,323	1,826	Upgrade
Income Tax Expense	2,006	2,285	1,049	677.48	-867.6	404.22	Upgrade
Earnings From Continuing Operations	8,273	9,972	6,102	3,988	2,190	1,422	Upgrade
Minority Interest in Earnings	-624.88	-615.17	-583.14	-353.68	-66.21	48.39	Upgrade
Net Income	7,648	9,357	5,518	3,634	2,124	1,470	Upgrade
Net Income to Common	7,648	9,357	5,518	3,634	2,124	1,470	Upgrade
Net Income Growth	27.21%	69.55%	51.84%	71.11%	44.50%	-51.90%	Upgrade
Basic Shares Outstanding	4,760	4,764	4,762	4,762	4,762	4,762	Upgrade
Diluted Shares Outstanding	4,760	4,764	4,762	4,762	4,762	4,762	Upgrade
Shares Change (YoY)	-0.02%	0.04%	-	-	-	-	Upgrade
EPS (Basic)	1.61	1.96	1.16	0.76	0.45	0.31	Upgrade
EPS (Diluted)	1.61	1.96	1.16	0.76	0.45	0.31	Upgrade
EPS Growth	27.24%	69.47%	51.84%	71.11%	44.50%	-51.90%	Upgrade
Dividend Per Share	0.183	0.317	0.290	0.250	0.114	0.124	Upgrade
Dividend Growth	-36.96%	9.44%	15.87%	119.30%	-8.06%	-32.05%	Upgrade
Operating Margin	42.26%	53.77%	57.62%	48.75%	24.64%	22.49%	Upgrade
Profit Margin	64.13%	65.22%	44.95%	39.15%	42.66%	22.95%	Upgrade
EBITDA	5,278	8,110	7,451	4,914	2,222	2,553	Upgrade
EBITDA Margin	44.26%	56.53%	60.69%	52.93%	44.64%	39.86%	Upgrade
D&A For Ebitda	238.03	396.35	377.13	387.94	995.49	1,113	Upgrade
EBIT	5,040	7,713	7,074	4,526	1,227	1,441	Upgrade
EBIT Margin	42.26%	53.77%	57.62%	48.75%	24.64%	22.49%	Upgrade
Effective Tax Rate	19.52%	18.64%	14.67%	14.52%	-	22.14%	Upgrade
Revenue as Reported	-	-	-	-	-	6,220	Upgrade

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.