TSX:MRT.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
Rental Revenue	239.34	259.17	255.08	242.63	241.44
Other Revenue	2.14	1.77	1.77	2.11	2.08
Total Revenue	241.47	260.95	256.84	244.73	243.52
Revenue Growth (YoY	-7.46%	1.60%	4.95%	0.50%	-5.24%
Property Expenses	127.52	130.71	129.1	120.43	119.31
Selling, General & Administrative	3.9	3.75	3.84	3.74	3.85
Total Operating Expenses	131.49	134.54	133.02	124.25	123.24
Operating Income	109.98	126.41	123.82	120.48	120.28
Interest Expense	-63.46	-67.38	-62.85	-53.52	-53.28
Interest & Investment Income	-	-	-	-	0.02
Other Non-Operating Income	0.09	0.02	0.01	1.05	1.99
EBT Excluding Unusual Items	46.61	59.05	60.99	68.01	69.01
Gain (Loss) on Sale of Investments	-1.62	-3.43	-3.67	-5.13	-3.16
Asset Writedown	-61.56	-114.45	-131.77	-148.98	-60.97
Pretax Income	-16.56	-58.82	-74.45	-86.1	4.89
Net Income	-16.56	-58.82	-74.45	-86.1	4.89
Net Income to Common	-16.56	-58.82	-74.45	-86.1	4.89
Basic Shares Outstanding	65	64	64	64	64
Diluted Shares Outstanding	65	64	64	64	64
Shares Change (YoY)	1.40%	0.05%	0.10%	0.07%	3.27%
EPS (Basic)	-0.25	-0.92	-1.16	-1.34	0.08
EPS (Diluted)	-0.25	-0.92	-1.16	-1.34	0.08
Dividend Per Share	0.240	0.240	0.240	0.240	0.260
Dividend Growth	-	-	-	-7.69%	-59.38%
Operating Margin	45.55%	48.44%	48.21%	49.23%	49.39%
Profit Margin	-6.86%	-22.54%	-28.98%	-35.18%	2.01%
EBITDA	110.05	126.49	123.9	120.56	120.36
EBITDA Margin	45.57%	48.47%	48.24%	49.26%	49.43%
D&A For Ebitda	0.07	0.08	0.08	0.08	0.08
EBIT	109.98	126.41	123.82	120.48	120.28
EBIT Margin	45.55%	48.44%	48.21%	49.23%	49.39%
Funds From Operations (FFO)	46.52	58.97	60.9	-	-
FFO Per Share	0.64	0.80	0.82	-	-
Adjusted Funds From Operations (AFFO)	11.44	34.67	36.97	-	-
AFFO Per Share	0.18	0.51	0.54	-	-
FFO Payout Ratio	8.12%	25.94%	24.96%	-	-

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