Airport City Ltd. (TLV:ARPT)

Airport City Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Rental Revenue	980.93	968.26	936.06	860.4	771.71	728.21
Other Revenue	141.63	127.79	84.86	42.93	44.46	160.89
Total Revenue	1,123	1,096	1,021	903.33	816.17	889.1
Revenue Growth (YoY	8.06%	7.36%	13.02%	10.68%	-8.20%	-2.29%
Property Expenses	280.38	264.42	230.46	215.55	205.16	292.74
Selling, General & Administrative	54.73	62.05	58.56	57.57	37.83	45.2
Other Operating Expenses	-2.49	1.78	13.7	-1.16	-69.43	1.68
Total Operating Expenses	332.62	328.25	302.72	271.96	173.56	339.61
Operating Income	789.94	767.81	718.2	631.37	642.61	549.49
Interest Expense	-305.36	-305.36	-306.03	-341.69	-178.58	-69.43
Interest & Investment Income	83.15	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	2.21	-4.9	-0.68	-7.32	-2.73	-4.55
EBT Excluding Unusual Items	544.57	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	-33.82	-40.5	-148.57	493.06	1,314	-225.75
Other Unusual Items	-	-	-	-	-	-13.09
Pretax Income	567.56	531.64	356.23	760.45	1,860	267.46
Income Tax Expense	77.18	103.89	100.32	128.29	434.02	73.9
Earnings From Continuing Operations	490.38	427.75	255.91	632.16	1,426	193.55
Minority Interest in Earnings	-17.19	-14.71	-2.51	-15.82	-21.3	-1.6
Net Income	473.19	413.03	253.4	616.34	1,405	191.95
Net Income to Common	473.19	413.03	253.4	616.34	1,405	191.95
Net Income Growth	56.35%	63.00%	-58.89%	-56.13%	631.83%	-82.04%
Basic Shares Outstanding	117	119	124	124	124	128
Diluted Shares Outstanding	117	119	124	124	124	128
Shares Change (YoY)	-5.30%	-3.91%	-0.16%	-0.11%	-2.44%	-2.96%
EPS (Basic)	4.03	3.46	2.04	4.96	11.28	1.50
EPS (Diluted)	4.03	3.46	2.04	4.96	11.28	1.50
EPS Growth	65.01%	69.52%	-58.82%	-56.08%	650.13%	-81.49%
Operating Margin	70.37%	70.05%	70.35%	69.89%	78.73%	61.80%
Profit Margin	42.15%	37.68%	24.82%	68.23%	172.12%	21.59%
EBITDA	792.48	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	2.54	2.79	2.08	2.99	3.28	3.32
EBIT	789.94	767.81	718.2	631.37	642.61	549.49
EBIT Margin	70.37%	70.05%	70.35%	69.89%	78.73%	61.80%
Effective Tax Rate	13.60%	19.54%	28.16%	16.87%	23.33%	27.63%
Revenue as Reported	1,123	1,096	1,021	903.33	823.88	902.75

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