RioCan Real Estate Investment Trust (TSX: REI.UN)

REI.UN Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Rental Revenue	1,110	1,091	1,074	1,067	1,091	1,094
Property Management Fees	17.03	18.98	21	14.77	16.58	23.63
Gain (Loss) on Sale of Assets (Rev)	-2.32	-1.33	-1.08	-0.01	0	-1.16
Gain (Loss) on Sale of Investments (Rev)	-1.21	-0.76	-3.78	-	0.88	8.03
Other Revenue	73	41.84	123.54	115.67	47.67	219.02
Total Revenue	1,230	1,176	1,235	1,211	1,170	1,361
Revenue Growth (YoY	2.09%	-4.81%	2.03%	3.43%	-14.00%	14.30%
Property Expenses	449.71	424.41	508.23	473.54	466.31	590.55
Selling, General & Administrative	71.27	72.29	66.64	57.11	50.72	58.12
Total Operating Expenses	520.98	496.69	574.87	530.65	517.03	648.67
Operating Income	708.55	679.19	660.39	680.01	653.44	712.36
Interest Expense	-236.82	-208.95	-180.37	-171.52	-180.81	-182.78
EBT Excluding Unusual Items	471.73	470.25	480.02	508.49	472.63	529.58
Asset Writedown	-413.31	-450.41	-241.13	124.05	-526.78	247.62
Other Unusual Items	0.6	5.6	-1.2	-34.21	-	-
Pretax Income	59	25.44	237.69	598.33	-54.15	777.2
Income Tax Expense	-0.79	-13.37	0.92	-0.06	10.63	1.37
Earnings From Continuing Operations	59.79	38.8	236.77	598.39	-64.78	775.83
Net Income to Company	59.79	38.8	236.77	598.39	-64.78	775.83
Net Income	59.79	38.8	236.77	598.39	-64.78	775.83
Net Income to Common	59.79	38.8	236.77	598.39	-64.78	775.83
Net Income Growth	-73.80%	-83.61%	-60.43%	-	-	46.91%
Basic Shares Outstanding	300	300	306	317	318	308
Diluted Shares Outstanding	300	300	306	317	318	308
Shares Change (YoY)	-0.46%	-1.88%	-3.48%	-0.14%	3.23%	-1.99%
EPS (Basic)	0.20	0.13	0.77	1.89	-0.20	2.52
EPS (Diluted)	0.20	0.13	0.77	1.89	-0.20	2.52
EPS Growth	-73.69%	-83.22%	-59.18%	-	-	49.80%
Dividend Per Share	1.093	1.075	1.015	0.960	1.440	1.440
Dividend Growth	4.55%	5.91%	5.73%	-33.33%	0%	0%
Operating Margin	57.63%	57.76%	53.46%	56.17%	55.83%	52.34%
Profit Margin	4.86%	3.30%	19.17%	49.43%	-5.53%	57.00%
Free Cash Flow Margin	29.30%	32.79%	40.97%	40.51%	47.21%	41.80%
EBITDA	710.61	681.83	665.16	684.04	657.78	716.74
EBITDA Margin	57.80%	57.98%	53.85%	56.50%	56.20%	52.66%
D&A For Ebitda	2.06	2.63	4.77	4.02	4.34	4.38
EBIT	708.55	679.19	660.39	680.01	653.44	712.36
EBIT Margin	57.63%	57.76%	53.46%	56.17%	55.83%	52.34%
Funds From Operations (FFO)	532.05	531.28	524.68	506.98	507.39	575.85
FFO Per Share	1.77	1.77	1.71	1.60	1.60	1.87
Adjusted Funds From Operations (AFFO)	-	532.65	528.97	523.95	507.39	575.85
AFFO Per Share	-	1.77	1.73	1.65	1.60	1.87
FFO Payout Ratio	61.55%	60.50%	58.97%	62.62%	90.17%	76.92%
Effective Tax Rate	-	-	0.39%	-	-	0.18%

Source: S&P Capital IQ. Real Estate template. Financial Sources.