TSXV:MAR.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	10.58	10.35	9.96	7.17	3.34
Total Revenue	10.58	10.35	9.96	7.17	3.34
Revenue Growth (YoY	2.30%	3.89%	38.88%	114.71%	-
Property Expenses	4.19	3.47	3.6	2.87	1.32
Selling, General & Administrative	0.87	0.84	0.89	0.72	0.44
Total Operating Expenses	5.08	4.27	4.48	3.57	1.74
Operating Income	5.51	6.08	5.48	3.6	1.6
Interest Expense	-3.22	-3.29	-3.19	-2.11	-0.88
Interest & Investment Income	0.12	0.17	0.08	0.05	0.01
Other Non-Operating Income	-1.85	1.97	-1.19	-0.22	2.39
EBT Excluding Unusual Items	0.56	4.93	1.19	1.32	3.12
Asset Writedown	0.31	7.23	7.51	2.08	6.1
Pretax Income	0.87	12.16	8.7	3.4	9.22
Net Income	0.87	12.16	8.7	3.4	9.22
Net Income to Common	0.87	12.16	8.7	3.4	9.22
Net Income Growth	-92.86%	39.70%	155.81%	-63.09%	-
Basic Shares Outstanding	10	9	9	9	9
Diluted Shares Outstanding	10	9	9	9	9
Shares Change (YoY)	6.07%	4.59%	-0.11%	-1.86%	-
EPS (Basic)	0.09	1.34	1.01	0.39	1.04
EPS (Diluted)	0.09	1.34	1.01	0.39	1.04
EPS Growth	-93.27%	33.56%	156.11%	-62.39%	-
Dividend Per Share	0.016	0.015	0.015	0.015	0.001
Dividend Growth	5.65%	2.31%	0.83%	1100.00%	-
Operating Margin	52.04%	58.73%	55.01%	50.24%	47.86%
Profit Margin	8.20%	117.49%	87.37%	47.43%	275.91%
EBIT	5.51	6.08	5.48	3.6	1.6
EBIT Margin	52.04%	58.73%	55.01%	50.24%	47.86%
Funds From Operations (FFO)	1.89	2.39	1.89	1.56	0.82
Adjusted Funds From Operations (AFFO)	1.67	1.99	1.82	1.36	0.7
FFO Payout Ratio	7.99%	5.70%	6.91%	8.40%	-

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