Keppel 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	259.4	261.58	233.07	219.29	216.61
Other Revenue	15.08	110	103.79	100.69	118.6
Total Revenue	274.48	371.58	336.86	319.98	335.2
Revenue Growth (YoY	-26.13%	10.31%	5.28%	-4.54%	16.47%
Property Expenses	116.53	57.08	48.25	41.32	41.93
Selling, General & Administrative	8.08	67.64	64.82	65.51	64.37
Other Operating Expenses	-2.36	-9.41	-10.87	-1.69	-2.67
Total Operating Expenses	122.25	115.3	102.2	105.14	103.63
Operating Income	152.23	256.29	234.66	214.84	231.57
Interest Expense	-90.35	-88.55	-66.98	-52.23	-50.15
Interest & Investment Income	4.53	7.71	7.34	25.26	15.6
Income (Loss) on Equity Investments	124.63	-	-	-	-
Currency Exchange Gain (Loss)	0.32	4.19	20.22	-2.39	1.05
Other Non-Operating Income	0.1	3.28	-4.51	-	-3.6
EBT Excluding Unusual Items	191.46	182.92	190.73	185.48	194.48
Gain (Loss) on Sale of Investments	-13.42	-8.5	-7.38	3.51	-2.86
Asset Writedown	339.7	-43.48	24.7	261.46	87.24
Pretax Income	517.74	130.94	208.05	450.45	278.86
Income Tax Expense	13.71	1.21	11.57	2.05	23
Earnings From Continuing Operations	504.04	129.73	196.48	448.4	255.86
Minority Interest in Earnings	-49.59	-21.28	-18.45	-33.57	-14.69
Net Income	454.44	108.45	178.03	414.84	241.17
Preferred Dividends & Other Adjustments	-	9.48	9.45	9.45	9.43
Net Income to Common	454.44	98.97	168.58	405.39	231.74
Net Income Growth	319.06%	-39.09%	-57.08%	72.01%	-
Basic Shares Outstanding	4,004	3,819	3,765	3,723	3,637
Diluted Shares Outstanding	4,004	3,831	3,805	3,792	3,781
Shares Change (YoY)	4.52%	0.68%	0.33%	0.30%	11.49%
EPS (Basic)	0.11	0.03	0.04	0.11	0.06
EPS (Diluted)	0.11	0.03	0.04	0.11	0.06
EPS Growth	338.00%	-42.07%	-58.43%	71.80%	-
Dividend Per Share	-	0.056	0.058	0.059	0.058
Dividend Growth	-	-3.45%	-2.03%	1.72%	1.57%
Operating Margin	55.46%	68.97%	69.66%	67.14%	69.08%
Profit Margin	165.57%	26.63%	50.04%	126.69%	69.13%
EBITDA	152.24	256.31	234.71	214.87	231.59
EBITDA Margin	55.46%	68.98%	69.68%	67.15%	69.09%
D&A For Ebitda	0.01	0.02	0.05	0.03	0.02
EBIT	152.23	256.29	234.66	214.84	231.57
EBIT Margin	55.46%	68.97%	69.66%	67.14%	69.08%
Effective Tax Rate	2.65%	0.92%	5.56%	0.45%	8.25%

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