ESR-REIT Income Statement

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

Millions SGD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	445.98	370.5	386.35	343.23	241.29
Other Revenue	3	2.84	3.88	5.34	7.7
Total Revenue	448.99	373.35	390.23	348.58	248.99
Revenue Growth (YoY	20.26%	-4.33%	11.95%	40.00%	6.89%
Property Expenses	140.1	129.57	135.12	120.19	82.87
Selling, General & Administrative	7.16	7.67	6.35	5.17	2.77
Total Operating Expenses	147.26	137.25	141.46	125.36	85.64
Operating Income	301.73	236.1	248.76	223.21	163.35
Interest Expense	-112.79	-109.01	-123.84	-85.63	-37.95
Interest & Investment Income	7.6	8.78	10.3	11.72	1.56
Currency Exchange Gain (Loss)	0.3	4.15	-1.24	-2.26	3.13
Other Non-Operating Income	-16.48	1.12	-1.78	26.62	7.16
EBT Excluding Unusual Items	180.37	141.14	132.2	173.67	137.24
Gain (Loss) on Sale of Investments	-3.07	-26.8	-39.84	8.36	9.31
Asset Writedown	-115.76	-212	-158.13	-16.92	-38.79
Other Unusual Items	-	-	-	-427.06	-
Pretax Income	61.55	-97.66	-65.77	-261.95	107.76
Income Tax Expense	7.82	9.96	-2.1	9.49	2.16
Earnings From Continuing Operations	53.73	-107.61	-63.67	-271.44	105.6
Minority Interest in Earnings	-22.07	-20.17	-3.78	-6.82	-4.08
Net Income	31.66	-127.78	-67.45	-278.26	101.52
Preferred Dividends & Other Adjustments	26.06	20.28	18.2	12.05	6.9
Net Income to Common	5.6	-148.06	-85.65	-290.31	94.62
Net Income Growth	-	-	-	-	947.80%
Basic Shares Outstanding	803	774	745	584	381
Diluted Shares Outstanding	803	774	745	584	381
Shares Change (YoY)	3.86%	3.83%	27.58%	53.13%	8.25%
EPS (Basic)	0.01	-0.19	-0.11	-0.50	0.25
EPS (Diluted)	0.01	-0.19	-0.11	-0.50	0.25
EPS Growth	-	-	-	-	3055.68%
Dividend Per Share	0.219	0.212	0.256	0.300	0.299
Dividend Growth	3.42%	-17.36%	-14.53%	0.43%	6.68%
Operating Margin	67.20%	63.24%	63.75%	64.04%	65.61%
Profit Margin	1.25%	-39.66%	-21.95%	-83.28%	38.00%
EBIT	301.73	236.1	248.76	223.21	163.35
EBIT Margin	67.20%	63.24%	63.75%	64.04%	65.61%
Effective Tax Rate	12.70%	-	-	-	2.01%

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