Azrieli Group 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	3,905	3,281	2,943	2,690	2,210
Other Revenue	-	-	-	-	19
Total Revenue	3,905	3,281	2,943	2,690	2,290
Revenue Growth (YoY	19.02%	11.48%	9.40%	17.47%	25.48%
Property Expenses	1,375	979	911	798	669
Selling, General & Administrative	446	338	316	262	186
Total Operating Expenses	1,821	1,317	1,227	1,060	855
Operating Income	2,084	1,964	1,716	1,630	1,435
Interest Expense	-1,187	-986	-867	-1,001	-438
Interest & Investment Income	278	189	134	72	-
Income (Loss) on Equity Investments	162	-5	-77	-73	310
Currency Exchange Gain (Loss)	-16	-19	7	24	-1
Other Non-Operating Income	-94	-132	-131	50	-75
EBT Excluding Unusual Items	1,227	1,011	782	702	1,231
Impairment of Goodwill	-	-	-46	-11	-
Gain (Loss) on Sale of Investments	39	-	1,211	-	-
Asset Writedown	1,128	913	912	1,481	2,441
Other Unusual Items	-	-	-6	-26	-
Pretax Income	2,394	1,924	2,853	2,146	3,672
Income Tax Expense	506	442	635	354	780
Earnings From Continuing Operations	1,888	1,482	2,218	1,792	2,892
Earnings From Discontinued Operations	-	-	-	-	-3
Net Income to Company	1,888	1,482	2,218	1,792	2,889
Minority Interest in Earnings	1	-5	7	5	-
Net Income	1,889	1,477	2,225	1,797	2,889
Net Income to Common	1,889	1,477	2,225	1,797	2,889
Net Income Growth	27.89%	-33.62%	23.82%	-37.80%	1428.57%
Basic Shares Outstanding	121	121	121	121	121
Diluted Shares Outstanding	121	122	121	121	121
Shares Change (YoY)	-0.35%	0.42%	-	-	-
EPS (Basic)	15.58	12.18	18.35	14.82	23.82
EPS (Diluted)	15.57	12.13	18.35	14.82	23.82
EPS Growth	28.35%	-33.90%	23.82%	-37.80%	1428.57%
Dividend Per Share	6.829	6.600	8.250	5.770	6.597
Dividend Growth	3.47%	-20.00%	42.98%	-12.53%	77.81%
Operating Margin	53.37%	59.86%	58.31%	60.59%	62.66%
Profit Margin	48.37%	45.02%	75.60%	66.80%	126.16%
EBITDA	2,107	1,984	1,786	1,646	1,455
EBITDA Margin	53.96%	60.47%	60.69%	61.19%	63.54%
D&A For Ebitda	23	20	70	16	20
EBIT	2,084	1,964	1,716	1,630	1,435
EBIT Margin	53.37%	59.86%	58.31%	60.59%	62.66%
Effective Tax Rate	21.14%	22.97%	22.26%	16.50%	21.24%
Revenue as Reported	-	-	-	-	5,054

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.