G 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	2,299	2,533	2,438	2,303	2,296
Other Revenue	263	114	-2	-51	41
Total Revenue	2,562	2,647	2,436	2,252	2,337
Revenue Growth (YoY	-3.21%	8.66%	8.17%	-3.64%	0.39%
Property Expenses	867	799	771	720	714
Selling, General & Administrative	290	321	349	374	342
Other Operating Expenses	27	-190	521	14	10
Total Operating Expenses	1,184	930	1,641	1,108	1,066
Operating Income	1,378	1,717	795	1,144	1,271
Interest Expense	-807	-882	-855	-684	-703
Interest & Investment Income	92	133	98	79	69
Currency Exchange Gain (Loss)	-213	7	-136	-161	-60
Other Non-Operating Income	-274	-351	-334	-1,235	368
EBT Excluding Unusual Items	176	624	-432	-857	945
Impairment of Goodwill	-	-75	-	-90	-
Gain (Loss) on Sale of Investments	-80	-7	-1	-183	234
Gain (Loss) on Sale of Assets	-147	-442	-160	-12	-32
Asset Writedown	674	38	-767	-450	621
Other Unusual Items	53	34	160	38	-39
Pretax Income	676	172	-1,200	-1,554	1,729
Income Tax Expense	286	76	120	-318	690
Earnings From Continuing Operations	390	96	-1,320	-1,236	1,039
Net Income to Company	390	96	-1,320	-1,236	1,039
Minority Interest in Earnings	-320	-44	117	-104	-393
Net Income	70	52	-1,203	-1,340	646
Net Income to Common	70	52	-1,203	-1,340	646
Net Income Growth	34.62%	-	-	-	-
Basic Shares Outstanding	194	185	177	164	152
Diluted Shares Outstanding	194	185	177	164	152
Shares Change (YoY)	4.69%	4.51%	7.72%	8.10%	-8.95%
EPS (Basic)	0.36	0.28	-6.79	-8.15	4.26
EPS (Diluted)	0.36	0.28	-6.79	-8.15	4.25
EPS Growth	28.57%	-	-	-	-
Dividend Per Share	0.375	0.200	-	1.280	1.200
Dividend Growth	87.50%	-	-	6.67%	-24.53%
Operating Margin	53.79%	64.87%	32.63%	50.80%	54.39%
Profit Margin	2.73%	1.96%	-49.38%	-59.50%	27.64%
EBITDA	1,400	1,742	824	1,168	1,298
EBITDA Margin	54.64%	65.81%	33.83%	51.87%	55.54%
D&A For Ebitda	22	25	29	24	27
EBIT	1,378	1,717	795	1,144	1,271
EBIT Margin	53.79%	64.87%	32.63%	50.80%	54.39%
Funds From Operations (FFO)	368	490	505	424	395
FFO Per Share	1.90	2.65	2.85	2.59	2.60
Adjusted Funds From Operations (AFFO)	368	490	505	424	395
AFFO Per Share	1.90	2.65	2.85	2.58	2.60
FFO Payout Ratio	19.84%	7.35%	10.50%	48.11%	46.08%
Effective Tax Rate	42.31%	44.19%	-	-	39.91%

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