Ho Bee Land 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	440.05	528.04	444.87	435.62	347.69
Gain (Loss) on Sale of Assets (Rev)	-0.56	1.04	46.48	2.81	0.13
Gain (Loss) on Sale of Investments (Rev)	-10.96	-11.33	-12.96	27.36	37.79
Other Revenue	17.77	45.58	19.19	8.85	1.99
Total Revenue	446.3	563.32	497.58	474.8	387.73
Revenue Growth (YoY	-20.77%	13.21%	4.80%	22.46%	77.56%
Property Expenses	178.59	239.9	160.36	146.44	122.67
Other Operating Expenses	36.44	34.38	28.23	23.97	30.65
Total Operating Expenses	215.03	274.27	188.59	170.41	153.32
Operating Income	231.26	289.05	308.99	304.39	234.41
Interest Expense	-123.14	-159.77	-167.62	-91.51	-41.75
Interest & Investment Income	7.97	6.7	9.92	3.49	1.97
Income (Loss) on Equity Investments	15.74	3.83	2.13	78.7	115.53
Currency Exchange Gain (Loss)	-2.3	-5.37	-7.38	-18.41	-5.76
EBT Excluding Unusual Items	129.53	134.44	146.04	276.66	304.38
Gain (Loss) on Sale of Assets	-	34.82	-	-	-
Asset Writedown	3.69	-17.04	-364.61	-98.75	53.11
Other Unusual Items	-	-	-	-	0.09
Pretax Income	133.22	152.21	-218.57	177.91	357.58
Income Tax Expense	30.83	42.55	40.47	10.8	17.57
Earnings From Continuing Operations	102.39	109.67	-259.04	167.11	340.01
Minority Interest in Earnings	-2.19	-0.11	-0.81	-1.23	-9.5
Net Income	100.2	109.56	-259.85	165.88	330.51
Net Income to Common	100.2	109.56	-259.85	165.88	330.51
Net Income Growth	-8.54%	-	-	-49.81%	141.14%
Basic Shares Outstanding	664	664	664	664	664
Diluted Shares Outstanding	664	664	664	664	664
Shares Change (YoY)	-	-	-	-	-0.13%
EPS (Basic)	0.15	0.16	-0.39	0.25	0.50
EPS (Diluted)	0.15	0.16	-0.39	0.25	0.50
EPS Growth	-8.54%	-	-	-49.81%	141.42%
Dividend Per Share	0.050	0.040	0.030	0.080	0.100
Dividend Growth	25.00%	33.33%	-62.50%	-20.00%	25.00%
Operating Margin	51.82%	51.31%	62.10%	64.11%	60.46%
Profit Margin	22.45%	19.45%	-52.22%	34.94%	85.24%
EBITDA	232.38	290.08	309.92	305.18	235.35
EBITDA Margin	52.07%	51.49%	62.29%	64.28%	60.70%
D&A For Ebitda	1.11	1.03	0.93	0.79	0.95
EBIT	231.26	289.05	308.99	304.39	234.41
EBIT Margin	51.82%	51.31%	62.10%	64.11%	60.46%
Effective Tax Rate	23.14%	27.95%	-	6.07%	4.91%

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