TSX:HR.UN Income Statement

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

Millions CAD. 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	813.73	816.99	847.15	834.64	1,065	1,099
Other Revenue	65.42	59.37	56.49	51.78	32.05	40.13
Total Revenue	879.14	876.36	903.63	886.42	1,097	1,139
Revenue Growth (YoY	0.43%	-3.02%	1.94%	-19.23%	-3.63%	-4.64%
Property Expenses	306.6	297.07	300.54	299.69	403.8	435.01
Selling, General & Administrative	17.41	20.58	24.39	22.12	27.94	14.3
Total Operating Expenses	324.01	317.65	324.93	321.81	431.73	449.31
Operating Income	555.13	558.71	578.71	564.61	665.69	689.5
Interest Expense	-214.45	-227.09	-229.05	-171.19	-205.81	-262.56
Interest & Investment Income	12.8	11.58	13.85	14.79	17.23	33.4
Currency Exchange Gain (Loss)	-1.73	-1.73	1.73	-	-	-
Other Non-Operating Income	-11.6	-26.46	70.29	-10.73	12.79	116.66
EBT Excluding Unusual Items	340.15	315.01	435.53	397.49	489.9	577.01
Gain (Loss) on Sale of Investments	-12.42	-56.9	88.97	-4.64	93.6	-57.12
Gain (Loss) on Sale of Assets	-0.93	-11.15	-7.25	7.33	6.96	-2.23
Asset Writedown	-806.16	-425.88	-486.1	546.08	12.98	-1,196
Pretax Income	-479.37	-178.93	31.15	946.26	603.45	-678.3
Income Tax Expense	-69	-59.21	-30.54	101.44	5.54	-53.74
Net Income	-410.37	-119.71	61.69	844.82	597.91	-624.56
Net Income to Common	-410.37	-119.71	61.69	844.82	597.91	-624.56
Net Income Growth	-	-	-92.70%	41.30%	-	-
Basic Shares Outstanding	262	262	264	273	288	287
Diluted Shares Outstanding	262	262	264	273	288	287
Shares Change (YoY)	0.19%	-0.71%	-3.24%	-5.21%	0.30%	0.26%
EPS (Basic)	-1.56	-0.46	0.23	3.10	2.08	-2.18
EPS (Diluted)	-1.56	-0.46	0.23	3.10	2.08	-2.18
EPS Growth	-	-	-92.45%	49.06%	-	-
Dividend Per Share	0.600	0.600	0.600	0.540	0.690	0.920
Dividend Growth	-	-	11.11%	-21.74%	-25.00%	-33.33%
Operating Margin	63.14%	63.75%	64.04%	63.70%	60.66%	60.55%
Profit Margin	-46.68%	-13.66%	6.83%	95.31%	54.48%	-54.84%
EBIT	555.13	558.71	578.71	564.61	665.69	689.5
EBIT Margin	63.14%	63.75%	64.04%	63.70%	60.66%	60.55%
Funds From Operations (FFO)	335.42	334.43	373.35	341.18	461.37	503.1
FFO Per Share	-	-	-	-	1.52	1.67
Adjusted Funds From Operations (AFFO)	-	266.96	313.17	287.34	365.83	383.81
AFFO Per Share	-	-	-	-	1.21	1.27
FFO Payout Ratio	56.31%	54.83%	45.68%	52.68%	49.27%	52.39%
Effective Tax Rate	-	-	-	10.72%	0.92%	-

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