TSX:SRU.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	909.49	918.36	834.58	804.6	780.8	781.25
Other Revenue	7.13	20.59	75.17	4.2	211.42	61.97
Total Revenue	929.23	953.05	929.4	826.83	1,005	858.47
Revenue Growth (YoY	1.44%	2.54%	12.40%	-17.69%	17.02%	4.09%
Property Expenses	348.44	370.85	321.02	301.99	294.96	320.54
Selling, General & Administrative	39.05	37.67	36.37	33.27	31.92	28.68
Total Operating Expenses	387.49	408.52	357.39	323.86	343.14	340.07
Operating Income	541.75	544.53	572.01	502.97	661.41	518.4
Interest Expense	-186.02	-183.1	-163.74	-106.67	-143.64	-168.7
Other Non-Operating Income	0.93	0.44	10.34	37.81	-18.87	17.22
EBT Excluding Unusual Items	356.65	361.86	418.61	434.11	498.91	366.92
Merger & Restructuring Charges	-	-	-	-0.3	-2.79	-2.35
Gain (Loss) on Sale of Assets	1.04	-0.12	0.04	0.32	0.03	0.42
Asset Writedown	-35.2	-69.67	91.45	201.83	491.53	-275.05
Pretax Income	322.49	292.07	510.1	635.97	987.68	89.94
Earnings From Continuing Operations	322.49	292.07	510.1	635.97	987.68	89.94
Minority Interest in Earnings	-61.1	-55.32	-96.4	-119.92	-159.7	-14.65
Net Income	261.39	236.76	413.7	516.05	827.98	75.29
Net Income to Common	261.39	236.76	413.7	516.05	827.98	75.29
Net Income Growth	96.41%	-42.77%	-19.83%	-37.67%	999.75%	-76.03%
Basic Shares Outstanding	145	145	145	145	145	145
Diluted Shares Outstanding	145	145	145	145	145	145
Shares Change (YoY)	-	0.04%	-	-	0.01%	0.40%
EPS (Basic)	1.81	1.64	2.86	3.57	5.72	0.52
EPS (Diluted)	1.81	1.64	2.86	3.57	5.72	0.52
EPS Growth	96.41%	-42.80%	-19.83%	-37.67%	999.70%	-76.12%
Dividend Per Share	1.850	1.850	1.850	1.850	1.850	1.850
Dividend Growth	-0.02%	0.00%	-0.00%	-	-	2.07%
Operating Margin	58.30%	57.14%	61.55%	60.83%	65.84%	60.39%
Profit Margin	28.13%	24.84%	44.51%	62.41%	82.42%	8.77%
EBITDA	547.57	551.89	582.65	513.28	673.88	532.87
EBITDA Margin	58.93%	57.91%	62.69%	62.08%	67.08%	62.07%
D&A For Ebitda	5.83	7.36	10.64	10.31	12.46	14.47
EBIT	541.75	544.53	572.01	502.97	661.41	518.4
EBIT Margin	58.30%	57.14%	61.55%	60.83%	65.84%	60.39%
Funds From Operations (FFO)	412.05	402.56	400.97	371.57	380.07	367.97
FFO Per Share	2.27	2.23	2.23	2.07	2.19	2.13
Adjusted Funds From Operations (AFFO)	-	359.4	354.42	334.34	380.07	367.97
AFFO Per Share	-	1.99	1.97	1.86	2.19	2.13
FFO Payout Ratio	64.96%	66.48%	66.73%	72.01%	70.40%	70.64%

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