Gulf & Pacific Equities 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	3.27	3.2	3.01	2.75	2.68	2.55
Tenant Reimbursements	1.4	1.48	1.43	1.47	1.28	1.2
Total Revenue	4.66	4.67	4.44	4.22	3.97	3.75
Revenue Growth (YoY	0.06%	5.20%	5.38%	6.31%	5.76%	-2.31%
Property Expenses	1.81	1.85	1.9	1.91	1.63	1.65
Selling, General & Administrative	0.96	0.87	0.94	0.81	0.75	0.75
Total Operating Expenses	2.79	2.74	2.85	2.74	2.53	2.42
Operating Income	1.88	1.93	1.59	1.48	1.43	1.33
Interest Expense	-1.48	-1.69	-1.61	-1.31	-1.13	-1.16
Other Non-Operating Income	-0.01	0.02	0.45	0.03	0.17	-
EBT Excluding Unusual Items	0.39	0.27	0.42	0.2	0.48	0.17
Gain (Loss) on Sale of Investments	0.02	0.01	-0.02	-0.01	0.01	-0.01
Asset Writedown	-0.59	-0.04	0.85	1.62	4.24	0.26
Other Unusual Items	-	-	-	0	0.02	-
Pretax Income	-0.18	0.23	1.26	1.81	4.75	0.42
Income Tax Expense	0.04	0.04	0.09	0.24	0.36	-0.01
Net Income	-0.22	0.19	1.16	1.57	4.39	0.43
Net Income to Common	-0.22	0.19	1.16	1.57	4.39	0.43
Net Income Growth	-	-83.22%	-26.16%	-64.17%	917.12%	-
Basic Shares Outstanding	21	21	21	21	21	21
Diluted Shares Outstanding	21	22	22	22	21	21
Shares Change (YoY)	-2.51%	-0.00%	1.12%	1.71%	-0.27%	0.70%
EPS (Basic)	-0.01	0.01	0.05	0.07	0.21	0.02
EPS (Diluted)	-0.01	0.01	0.05	0.07	0.21	0.02
EPS Growth	-	-81.76%	-28.57%	-66.05%	930.96%	-
Operating Margin	40.24%	41.39%	35.77%	35.04%	36.15%	35.55%
Profit Margin	-4.66%	4.17%	26.15%	37.31%	110.71%	11.51%
EBITDA	1.89	1.95	1.61	1.5	1.45	1.35
EBITDA Margin	40.54%	41.80%	36.20%	35.51%	36.65%	36.08%
D&A For Ebitda	0.01	0.02	0.02	0.02	0.02	0.02
EBIT	1.88	1.93	1.59	1.48	1.43	1.33
EBIT Margin	40.24%	41.39%	35.77%	35.04%	36.15%	35.55%
Effective Tax Rate	-	17.02%	7.49%	13.05%	7.66%	-
Revenue as Reported	4.66	4.67	4.44	4.22	3.97	3.75

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