SGX:C38U 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	1,619	1,586	1,560	1,442	1,305
Total Revenue	1,619	1,586	1,560	1,442	1,305
Revenue Growth (YoY	2.07%	1.69%	8.20%	10.47%	75.13%
Property Expenses	499.71	497.19	500.73	467.05	421.03
Selling, General & Administrative	42.12	39.65	41.61	26.52	20.22
Total Operating Expenses	542.16	536.82	542.38	493.83	441.61
Operating Income	1,077	1,050	1,018	947.91	863.44
Interest Expense	-314.7	-345.39	-322.08	-242.44	-189.76
Interest & Investment Income	15.86	22.08	24.05	15.78	17.03
Income (Loss) on Equity Investments	116.75	33.76	15.58	42.47	140.2
Other Non-Operating Income	-4.47	-10.52	-3.73	-0.54	0.86
EBT Excluding Unusual Items	890.46	749.43	731.37	763.18	831.78
Gain (Loss) on Sale of Assets	0.03	32.77	-	57.26	-
Asset Writedown	68.12	153.13	113.56	-90.44	270.51
Other Unusual Items	-	-	34.4	-	-
Pretax Income	958.6	935.32	879.33	729.99	1,102
Income Tax Expense	7.18	-6.46	10.11	4.11	19.22
Earnings From Continuing Operations	951.42	941.78	869.22	725.89	1,083
Minority Interest in Earnings	-14.14	-8.09	-6.65	-2.52	0.02
Net Income	937.29	933.68	862.57	723.37	1,083
Net Income to Common	937.29	933.68	862.57	723.37	1,083
Net Income Growth	0.39%	8.24%	19.24%	-33.21%	209.61%
Basic Shares Outstanding	7,425	6,865	6,649	6,626	6,482
Diluted Shares Outstanding	7,439	6,880	6,663	6,640	6,494
Shares Change (YoY)	8.13%	3.25%	0.36%	2.23%	55.12%
EPS (Basic)	0.13	0.14	0.13	0.11	0.17
EPS (Diluted)	0.13	0.14	0.13	0.11	0.17
EPS Growth	-7.15%	4.87%	18.83%	-34.71%	99.76%
Dividend Per Share	0.116	0.109	0.107	0.106	0.104
Dividend Growth	6.43%	1.21%	1.61%	1.73%	19.68%
Operating Margin	66.52%	66.16%	65.23%	65.75%	66.16%
Profit Margin	57.89%	58.86%	55.30%	50.17%	82.99%
EBITDA	1,078	1,050	1,018	952.08	868.31
EBITDA Margin	66.55%	66.20%	65.28%	66.04%	66.53%
D&A For Ebitda	0.58	0.72	0.71	4.17	4.86
EBIT	1,077	1,050	1,018	947.91	863.44
EBIT Margin	66.52%	66.16%	65.23%	65.75%	66.16%
Effective Tax Rate	0.75%	-	1.15%	0.56%	1.74%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.