TSX:AP.UN Income Statement

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

Millions CAD. 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
Property Revenue	592.38	592.04	563.98	519.47	472.8
Revenue	592.38	592.04	563.98	519.47	472.8
Revenue Growth (YoY)	0.06%	4.98%	8.57%	9.87%	-15.65%
Property Expenses	275.42	263.57	246.95	224.26	204.79
Total Property Expenses	275.42	263.57	246.95	224.26	204.79
Gross Profit	316.96	328.47	317.03	295.21	268.01
Selling, General & Admin	24.67	24.33	23.58	22.59	25.83
Depreciation & Amortization Expenses	1.88	1.54	1.5	1.33	1.17
Other Operating Expenses	29.31	40.12	16.08	16.33	0.57
Operating Income	316.96	328.47	317.03	295.21	268.01
Interest Income	41.4	46.91	37.98	28.92	27.57
Interest Expense	-135.45	-116.47	-107.07	-72.8	-114.2
Other Non-Operating Income (Expense)	-1,495	-535.46	-752.49	-36.41	177.57
Total Non-Operating Income (Expense)	-1,589	-605.02	-821.58	-80.29	90.95
Pretax Income	-1,272	-276.54	-504.55	214.92	358.96
Net Income	-1,328	-342.53	-846.43	744.22	886.3
Minority Interest in Earnings	-	-	5	6.51	-
Net Income to Common	-1,328	-342.53	-846.43	744.22	886.3
Net Income Growth	-	-	-	-16.03%	77.00%
Shares Outstanding (Basic)	128	140	140	137	127
Shares Outstanding (Diluted)	128	140	140	137	127
Shares Change (YoY)	-8.73%	-	2.09%	7.41%	2.34%
EPS (Basic)	-10.41	-2.45	-6.06	2.44	3.48
EPS (Diluted)	-10.41	-2.45	-6.06	2.44	3.48
EPS Growth	-	-	-	-29.80%	-13.45%
Shares Outstanding	127.56	127.96	139.77	139.77	127.74
Free Cash Flow	-22.88	-269.8	-207.33	-352.35	-518.15
Free Cash Flow Per Share	-0.18	-1.93	-1.48	-2.57	-4.07
Dividends Per Share	1.710	1.800	1.800	1.750	1.700
Dividend Growth	-5.00%	-	2.88%	2.92%	3.03%
Gross Margin	53.51%	55.48%	56.21%	56.83%	56.69%
Operating Margin	53.51%	55.48%	56.21%	56.83%	56.69%
Profit Margin	-224.10%	-57.86%	-74.60%	72.26%	93.73%
FCF Margin	-3.86%	-45.57%	-36.76%	-67.83%	-109.59%
EBITDA	356.61	366.99	349.99	328.84	301.48
EBITDA Margin	60.20%	61.99%	62.06%	63.30%	63.76%
EBIT	316.96	328.47	317.03	295.21	268.01
EBIT Margin	53.51%	55.48%	56.21%	56.83%	56.69%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Real Estate template. Financial Sources.