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	-38.03	1.78	13.7	-1.16	-69.43
Total Operating Expenses	333.41	328.25	302.72	271.96	173.56
Operating Income	815.21	767.81	718.2	631.37	642.61
Interest Expense	-265.29	-305.36	-306.03	-341.69	-178.58
Interest & Investment Income	91.35	83.15	81.93	36.26	28.74
Currency Exchange Gain (Loss)	-6.51	-25.37	31.46	26.75	-47.75
Other Non-Operating Income	-22.06	-4.9	-0.68	-7.32	-2.73
EBT Excluding Unusual Items	612.7	515.33	524.88	345.37	442.29
Gain (Loss) on Sale of Investments	60.03	56.81	-20.09	-77.97	104.11
Gain (Loss) on Sale of Assets	9.36	-	-	-	-
Asset Writedown	293.36	-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)	-2.41%	-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	88.00%	69.63%	-58.82%	-56.08%	650.13%
Operating Margin	70.97%	70.05%	70.35%	69.89%	78.73%
Profit Margin	65.97%	37.68%	24.82%	68.23%	172.12%
EBITDA	818.79	770.6	720.29	634.36	645.89
EBITDA Margin	71.28%	70.31%	70.55%	70.23%	79.14%
D&A For Ebitda	3.58	2.79	2.08	2.99	3.28
EBIT	815.21	767.81	718.2	631.37	642.61
EBIT Margin	70.97%	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.