Airport City Income Statement

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

Millions ILS. 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	1,002	968.26	936.06	860.4	771.71
Other Revenue	146.77	127.79	84.86	42.93	44.46
Total Revenue	1,149	1,096	1,021	903.33	816.17
Revenue Growth (YoY	4.80%	7.36%	13.02%	10.68%	-8.20%
Property Expenses	314.98	264.42	230.46	215.55	205.16
Selling, General & Administrative	56.46	62.05	58.56	57.57	37.83
Other Operating Expenses	1.94	1.78	13.7	-1.16	-69.43
Total Operating Expenses	373.38	328.25	302.72	271.96	173.56
Operating Income	775.24	767.81	718.2	631.37	642.61
Interest Expense	-299.25	-305.36	-306.03	-341.69	-178.58
Interest & Investment Income	-	83.15	81.93	36.26	28.74
Currency Exchange Gain (Loss)	-	-25.37	31.46	26.75	-47.75
Other Non-Operating Income	156.77	-4.9	-0.68	-7.32	-2.73
EBT Excluding Unusual Items	632.76	515.33	524.88	345.37	442.29
Gain (Loss) on Sale of Investments	-	56.81	-20.09	-77.97	104.11
Asset Writedown	342.68	-40.5	-148.57	493.06	1,314
Pretax Income	975.44	531.64	356.23	760.45	1,860
Income Tax Expense	187.62	103.89	100.32	128.29	434.02
Earnings From Continuing Operations	787.82	427.75	255.91	632.16	1,426
Minority Interest in Earnings	-30.05	-14.71	-2.51	-15.82	-21.3
Net Income	757.77	413.03	253.4	616.34	1,405
Net Income to Common	757.77	413.03	253.4	616.34	1,405
Net Income Growth	83.46%	63.00%	-58.89%	-56.13%	631.83%
Basic Shares Outstanding	116	119	124	124	124
Diluted Shares Outstanding	116	119	124	124	124
Shares Change (YoY)	-2.43%	-3.91%	-0.16%	-0.11%	-2.44%
EPS (Basic)	6.51	3.46	2.04	4.96	11.28
EPS (Diluted)	6.51	3.46	2.04	4.96	11.28
EPS Growth	88.15%	69.52%	-58.82%	-56.08%	650.13%
Operating Margin	67.49%	70.05%	70.35%	69.89%	78.73%
Profit Margin	65.97%	37.68%	24.82%	68.23%	172.12%
EBITDA	778.82	770.6	720.29	634.36	645.89
EBITDA Margin	67.81%	70.31%	70.55%	70.23%	79.14%
D&A For Ebitda	3.58	2.79	2.08	2.99	3.28
EBIT	775.24	767.81	718.2	631.37	642.61
EBIT Margin	67.49%	70.05%	70.35%	69.89%	78.73%
Effective Tax Rate	19.23%	19.54%	28.16%	16.87%	23.33%
Revenue as Reported	1,149	1,096	1,021	903.33	823.88

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