Azrieli Group 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	3,772	3,281	2,943	2,690	2,210	1,798
Other Revenue	-2	-	-	-	19	9
Total Revenue	3,770	3,281	2,943	2,690	2,290	1,825
Revenue Growth (YoY	23.24%	11.48%	9.40%	17.47%	25.48%	-23.29%
Property Expenses	1,191	979	911	798	669	628
Selling, General & Administrative	427	338	316	262	186	165
Total Operating Expenses	1,618	1,317	1,227	1,060	855	793
Operating Income	2,152	1,964	1,716	1,630	1,435	1,032
Interest Expense	-1,256	-986	-867	-1,001	-438	-112
Interest & Investment Income	316	189	134	72	-	-
Income (Loss) on Equity Investments	-5	-5	-77	-73	310	98
Currency Exchange Gain (Loss)	-19	-19	7	24	-1	-4
Other Non-Operating Income	-121	-132	-131	50	-75	-14
EBT Excluding Unusual Items	1,067	1,011	782	702	1,231	1,000
Impairment of Goodwill	-	-	-26	-11	-	-
Gain (Loss) on Sale of Investments	-	-	1,211	-	-	-
Asset Writedown	1,082	913	892	1,481	2,441	-764
Other Unusual Items	-	-	-6	-26	-	-
Pretax Income	2,149	1,924	2,853	2,146	3,672	236
Income Tax Expense	497	442	635	354	780	40
Earnings From Continuing Operations	1,652	1,482	2,218	1,792	2,892	196
Earnings From Discontinued Operations	-	-	-	-	-3	-12
Net Income to Company	1,652	1,482	2,218	1,792	2,889	184
Minority Interest in Earnings	-6	-5	7	5	-	5
Net Income	1,646	1,477	2,225	1,797	2,889	189
Net Income to Common	1,646	1,477	2,225	1,797	2,889	189
Net Income Growth	-20.90%	-33.62%	23.82%	-37.80%	1428.57%	-91.00%
Basic Shares Outstanding	121	121	121	121	121	121
Diluted Shares Outstanding	122	122	121	121	121	121
Shares Change (YoY)	0.46%	0.42%	-	-	-	-
EPS (Basic)	13.57	12.18	18.35	14.82	23.82	1.56
EPS (Diluted)	13.51	12.13	18.35	14.82	23.82	1.56
EPS Growth	-21.26%	-33.90%	23.82%	-37.80%	1428.57%	-91.00%
Dividend Per Share	6.597	6.597	8.250	5.770	6.597	3.710
Dividend Growth	-20.04%	-20.04%	42.98%	-12.53%	77.81%	50.20%
Operating Margin	57.08%	59.86%	58.31%	60.59%	62.66%	56.55%
Profit Margin	43.66%	45.02%	75.60%	66.80%	126.16%	10.36%
EBITDA	2,175	1,984	1,786	1,646	1,455	1,060
EBITDA Margin	57.69%	60.47%	60.69%	61.19%	63.54%	58.08%
D&A For Ebitda	23	20	70	16	20	28
EBIT	2,152	1,964	1,716	1,630	1,435	1,032
EBIT Margin	57.08%	59.86%	58.31%	60.59%	62.66%	56.55%
Effective Tax Rate	23.13%	22.97%	22.26%	16.50%	21.24%	16.95%
Revenue as Reported	-	-	-	-	5,054	1,159

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.