Airport City Income Statement

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

Millions ILS. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Rental Revenue	986.99	968.26	936.06	860.4	771.71	728.21
Other Revenue	154.34	127.79	84.86	42.93	44.46	160.89
Total Revenue	1,141	1,096	1,021	903.33	816.17	889.1
Revenue Growth (YoY	8.22%	7.36%	13.02%	10.68%	-8.20%	-2.29%
Property Expenses	303.45	264.42	230.46	215.55	205.16	292.74
Selling, General & Administrative	56.69	62.05	58.56	57.57	37.83	45.2
Other Operating Expenses	-21.01	1.78	13.7	-1.16	-69.43	1.68
Total Operating Expenses	339.12	328.25	302.72	271.96	173.56	339.61
Operating Income	802.21	767.81	718.2	631.37	642.61	549.49
Interest Expense	-283.97	-305.36	-306.03	-341.69	-178.58	-69.43
Interest & Investment Income	110.21	83.15	81.93	36.26	28.74	28.16
Currency Exchange Gain (Loss)	-25.37	-25.37	31.46	26.75	-47.75	6.62
Other Non-Operating Income	-4.9	-4.9	-0.68	-7.32	-2.73	-4.55
EBT Excluding Unusual Items	598.19	515.33	524.88	345.37	442.29	510.3
Gain (Loss) on Sale of Investments	56.81	56.81	-20.09	-77.97	104.11	-4.01
Asset Writedown	53.33	-40.5	-148.57	493.06	1,314	-225.75
Other Unusual Items	-	-	-	-	-	-13.09
Pretax Income	708.33	531.64	356.23	760.45	1,860	267.46
Income Tax Expense	128.07	103.89	100.32	128.29	434.02	73.9
Earnings From Continuing Operations	580.26	427.75	255.91	632.16	1,426	193.55
Minority Interest in Earnings	-22.59	-14.71	-2.51	-15.82	-21.3	-1.6
Net Income	557.66	413.03	253.4	616.34	1,405	191.95
Net Income to Common	557.66	413.03	253.4	616.34	1,405	191.95
Net Income Growth	52.45%	63.00%	-58.89%	-56.13%	631.83%	-82.04%
Basic Shares Outstanding	116	119	124	124	124	128
Diluted Shares Outstanding	116	119	124	124	124	128
Shares Change (YoY)	-3.92%	-3.91%	-0.16%	-0.11%	-2.44%	-2.96%
EPS (Basic)	4.79	3.46	2.04	4.96	11.28	1.50
EPS (Diluted)	4.79	3.46	2.04	4.96	11.28	1.50
EPS Growth	58.59%	69.52%	-58.82%	-56.08%	650.13%	-81.49%
Operating Margin	70.29%	70.05%	70.35%	69.89%	78.73%	61.80%
Profit Margin	48.86%	37.68%	24.82%	68.23%	172.12%	21.59%
EBITDA	805.81	770.6	720.29	634.36	645.89	552.81
EBITDA Margin	70.60%	70.31%	70.55%	70.23%	79.14%	62.18%
D&A For Ebitda	3.59	2.79	2.08	2.99	3.28	3.32
EBIT	802.21	767.81	718.2	631.37	642.61	549.49
EBIT Margin	70.29%	70.05%	70.35%	69.89%	78.73%	61.80%
Effective Tax Rate	18.08%	19.54%	28.16%	16.87%	23.33%	27.63%
Revenue as Reported	1,141	1,096	1,021	903.33	823.88	902.75

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