Shang Properties Income Statement

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

Millions PHP. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Rental Revenue	2,943	2,877	2,684	2,540	2,165	1,820
Other Revenue	9,883	9,755	11,428	9,737	7,118	3,158
Total Revenue	12,826	12,632	14,112	12,278	9,283	4,979
Revenue Growth (YoY	-10.22%	-10.49%	14.95%	32.26%	86.46%	-22.28%
Property Expenses	5,011	4,866	4,411	3,527	3,159	2,580
Selling, General & Administrative	526.42	486.24	511.48	423.26	213.52	142.4
Depreciation & Amortization	31.52	32.76	35.46	34.01	32.04	39.11
Other Operating Expenses	1,817	1,753	1,674	1,219	1,352	990.2
Total Operating Expenses	7,387	7,138	6,632	5,203	4,757	3,752
Operating Income	5,439	5,495	7,481	7,074	4,526	1,227
Interest Expense	-143.2	-121.41	-64.13	-51.03	-108.51	-119.44
Interest & Investment Income	292.99	303.26	411.26	133.4	233.8	206.3
Currency Exchange Gain (Loss)	-10.28	-16.32	-15.72	-10.2	14.58	4.53
Other Non-Operating Income	-3.37	-3.38	-753.79	-1.09	-0.94	-0.62
EBT Excluding Unusual Items	5,576	5,657	7,058	7,145	4,665	1,318
Gain (Loss) on Sale of Investments	6.77	4.44	-2.51	4.01	0.58	-2.81
Gain (Loss) on Sale of Assets	-0.07	-0.07	0.27	1.31	0.37	7.89
Asset Writedown	-	-	5,201	-	-	-
Pretax Income	5,582	5,661	12,257	7,151	4,666	1,323
Income Tax Expense	1,027	1,000	2,285	1,049	677.48	-867.6
Earnings From Continuing Operations	4,555	4,661	9,972	6,102	3,988	2,190
Minority Interest in Earnings	-653.91	-635.49	-615.17	-583.14	-353.68	-66.21
Net Income	3,901	4,026	9,357	5,518	3,634	2,124
Net Income to Common	3,901	4,026	9,357	5,518	3,634	2,124
Net Income Growth	-57.74%	-56.97%	69.55%	51.84%	71.11%	44.50%
Basic Shares Outstanding	4,763	4,764	4,764	4,762	4,762	4,762
Diluted Shares Outstanding	4,763	4,764	4,764	4,762	4,762	4,762
Shares Change (YoY)	0.01%	-	0.04%	-	-	-
EPS (Basic)	0.82	0.85	1.96	1.16	0.76	0.45
EPS (Diluted)	0.82	0.85	1.96	1.16	0.76	0.45
EPS Growth	-57.66%	-56.89%	69.13%	51.84%	71.11%	44.50%
Dividend Per Share	0.211	0.211	0.317	0.289	0.250	0.114
Dividend Growth	-33.38%	-33.38%	9.69%	15.60%	119.30%	-8.06%
Operating Margin	42.41%	43.50%	53.01%	57.62%	48.75%	24.64%
Profit Margin	30.41%	31.87%	66.30%	44.95%	39.15%	42.66%
EBITDA	5,856	5,912	7,877	7,451	4,914	2,222
EBITDA Margin	45.65%	46.80%	55.82%	60.69%	52.93%	44.64%
D&A For Ebitda	416.27	417.51	396.35	377.13	387.94	995.49
EBIT	5,439	5,495	7,481	7,074	4,526	1,227
EBIT Margin	42.41%	43.50%	53.01%	57.62%	48.75%	24.64%
Effective Tax Rate	18.40%	17.66%	18.64%	14.67%	14.52%	-
Revenue as Reported	11,648	11,279	11,586	9,817	-	-

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