BHG Retail 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	49.78	55.34	56.44	61.76	65.46
Other Revenue	5.33	5.62	5.53	4.67	5.18
Total Revenue	55.11	60.96	61.98	66.43	70.64
Revenue Growth (YoY	-9.60%	-1.64%	-6.71%	-5.96%	16.64%
Property Expenses	24.27	26.13	24.81	26.79	28.09
Selling, General & Administrative	1.81	2.19	2.27	2.53	2.68
Other Operating Expenses	2.1	1.44	1.3	2.3	1.34
Total Operating Expenses	28.17	29.76	28.38	31.62	32.11
Operating Income	26.93	31.2	33.6	34.81	38.53
Interest Expense	-16.09	-19.3	-20.03	-16.03	-14.38
Interest & Investment Income	0.03	0.09	0.12	0.25	0.13
Currency Exchange Gain (Loss)	0.16	1.47	-0.12	-0.88	-0.91
Other Non-Operating Income	0.48	0.92	1.1	1.44	0.93
EBT Excluding Unusual Items	11.51	14.37	14.67	19.59	24.3
Asset Writedown	-7.24	-4.8	-5.5	1.41	-0.31
Pretax Income	4.28	9.58	9.17	21	23.99
Income Tax Expense	2.77	4.6	5.34	7.05	9
Earnings From Continuing Operations	1.51	4.98	3.84	13.96	14.99
Minority Interest in Earnings	-3.33	-7.26	-7.63	-7.86	-7.48
Net Income	-1.82	-2.28	-3.79	6.1	7.51
Net Income to Common	-1.82	-2.28	-3.79	6.1	7.51
Net Income Growth	-	-	-	-18.76%	-
Basic Shares Outstanding	520	520	518	514	512
Diluted Shares Outstanding	520	520	518	517	513
Shares Change (YoY)	-	0.30%	0.11%	0.84%	0.29%
EPS (Basic)	-0.00	-0.00	-0.01	0.01	0.01
EPS (Diluted)	-0.00	-0.00	-0.01	0.01	0.01
EPS Growth	-	-	-	-19.18%	-
Dividend Per Share	0.003	0.005	0.004	0.012	0.022
Dividend Growth	-42.00%	16.28%	-63.25%	-46.08%	11.28%
Operating Margin	48.88%	51.18%	54.21%	52.40%	54.54%
Profit Margin	-3.30%	-3.74%	-6.12%	9.18%	10.63%
EBITDA	26.98	31.26	33.68	34.91	38.64
EBITDA Margin	48.96%	51.29%	54.34%	52.55%	54.70%
D&A For Ebitda	0.04	0.07	0.08	0.1	0.11
EBIT	26.93	31.2	33.6	34.81	38.53
EBIT Margin	48.88%	51.18%	54.21%	52.40%	54.54%
Effective Tax Rate	64.73%	48.00%	58.18%	33.55%	37.52%
Revenue as Reported	55.11	60.96	61.98	66.43	70.64

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