Artis Real Estate Investment Trust (TSX:AX.UN)

TSX:AX.UN Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Rental Revenue	282.25	300.37	335.84	372.51	419.5	458.92
Other Revenue	-82.66	-93.9	-67.2	44.29	6.3	6.59
Total Revenue	199.59	206.47	268.64	416.8	425.8	465.51
Revenue Growth (YoY	-23.96%	-23.14%	-35.55%	-2.11%	-8.53%	-11.63%
Property Expenses	131.41	137.14	151.82	162.53	181.71	189.64
Selling, General & Administrative	10.49	9.14	6.98	7.66	12.53	12.21
Total Operating Expenses	141.9	146.28	158.8	170.19	194.24	201.85
Operating Income	57.69	60.19	109.83	246.61	231.56	263.66
Interest Expense	-99.69	-109.21	-131.74	-69.91	-53.68	-104.49
Interest & Investment Income	26.68	36.42	43.88	28.16	2.09	4.8
Currency Exchange Gain (Loss)	-0.69	-5.14	6.93	-6.68	-2.94	2.79
Other Non-Operating Income	-0.78	-1.16	-0.24	0.38	0.12	-4.44
EBT Excluding Unusual Items	-16.79	-18.9	28.66	198.55	177.15	162.32
Merger & Restructuring Charges	-	-	-	-	-0.01	-
Gain (Loss) on Sale of Investments	-5.84	-15.87	-22.05	-11.06	15.82	18.26
Asset Writedown	-5.42	-14.94	-344.29	-178.43	197.51	-140.88
Other Unusual Items	-	-	-	-	-	-17.42
Pretax Income	-29.47	-49.7	-337.67	9.06	390.46	22.28
Income Tax Expense	-0.6	-2.29	-5.61	14.36	1.29	0.73
Net Income	-28.87	-47.41	-332.07	-5.29	389.18	21.54
Preferred Dividends & Other Adjustments	12.94	12.99	13.03	15.86	17.26	17.42
Net Income to Common	-41.81	-60.4	-345.09	-21.15	371.92	4.12
Net Income Growth	-	-	-	-	1706.50%	-82.45%
Basic Shares Outstanding	103	105	111	118	130	136
Diluted Shares Outstanding	103	105	111	118	130	137
Shares Change (YoY)	-5.76%	-5.60%	-6.06%	-8.89%	-4.82%	-4.09%
EPS (Basic)	-0.41	-0.57	-3.10	-0.18	2.87	0.03
EPS (Diluted)	-0.41	-0.57	-3.10	-0.19	2.86	0.02
EPS Growth	-	-	-	-	11380.65%	-96.55%
Dividend Per Share	0.600	0.600	0.600	0.600	0.593	0.540
Dividend Growth	-	-	-	1.23%	9.76%	-
Operating Margin	28.91%	29.15%	40.88%	59.17%	54.38%	56.64%
Profit Margin	-20.95%	-29.26%	-128.46%	-5.07%	87.34%	0.89%
EBITDA	59.01	61.39	111.06	247.86	232.92	265.09
EBITDA Margin	29.56%	29.73%	41.34%	59.47%	54.70%	56.95%
D&A For Ebitda	1.31	1.19	1.23	1.25	1.36	1.42
EBIT	57.69	60.19	109.83	246.61	231.56	263.66
EBIT Margin	28.91%	29.15%	40.88%	59.17%	54.38%	56.64%
Funds From Operations (FFO)	102.49	111.42	99.86	163.19	174.34	192.41
FFO Per Share	0.98	1.05	0.89	1.38	1.34	1.41
Adjusted Funds From Operations (AFFO)	-	68.46	49.32	110.95	124.48	139.55
AFFO Per Share	-	0.65	0.44	0.94	0.96	1.02
FFO Payout Ratio	87.84%	81.85%	80.56%	98.05%	46.24%	41.66%
Effective Tax Rate	-	-	-	158.43%	0.33%	3.29%
Revenue as Reported	-	-	-	-	419.5	458.92

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