Urbanfund 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	8.65	8.72	8.64	8.48	6.45	5.31
Other Revenue	8.58	17.48	3.09	16.33	5.63	6.74
Total Revenue	17.23	26.2	11.72	24.82	12.08	12.05
Revenue Growth (YoY	-29.99%	123.48%	-52.76%	105.44%	0.27%	45.60%
Property Expenses	6.32	12.74	3.54	13.91	3.02	5.99
Selling, General & Administrative	0.45	0.5	0.53	0.58	0.62	0.44
Total Operating Expenses	6.77	13.24	4.07	14.48	3.65	6.42
Operating Income	10.46	12.96	7.65	10.34	8.43	5.63
Interest Expense	-1.93	-2.04	-2.42	-2.43	-1.71	-1.02
Interest & Investment Income	0.38	0.45	0.46	0.1	0.03	0.1
EBT Excluding Unusual Items	8.91	11.37	5.69	8	6.75	4.7
Gain (Loss) on Sale of Assets	-	0.11	0.19	-	-	-
Asset Writedown	2.57	0.96	2.09	1.69	5.63	4.99
Pretax Income	11.48	12.44	7.96	9.69	12.39	9.69
Income Tax Expense	1.94	2.72	1.17	2.11	1.71	1.69
Earnings From Continuing Operations	9.54	9.72	6.79	7.58	10.68	8
Minority Interest in Earnings	-0.2	-0.1	-0.41	-0.24	-0.37	-
Net Income	9.34	9.62	6.38	7.34	10.3	8
Net Income to Common	9.34	9.62	6.38	7.34	10.3	8
Net Income Growth	16.55%	50.76%	-13.11%	-28.74%	28.76%	23.02%
Basic Shares Outstanding	54	53	52	51	50	48
Diluted Shares Outstanding	61	61	60	59	58	56
Shares Change (YoY)	0.90%	1.54%	1.64%	1.74%	3.52%	3.46%
EPS (Basic)	0.17	0.18	0.12	0.14	0.20	0.17
EPS (Diluted)	0.15	0.16	0.11	0.13	0.18	0.14
EPS Growth	15.14%	47.66%	-14.40%	-29.78%	24.48%	19.17%
Dividend Per Share	0.050	0.050	0.050	0.050	0.045	0.030
Dividend Growth	-	-	-	11.11%	50.00%	9.09%
Operating Margin	60.70%	49.47%	65.29%	41.64%	69.81%	46.69%
Profit Margin	54.20%	36.72%	54.43%	29.59%	85.30%	66.43%
EBIT	10.46	12.96	7.65	10.34	8.43	5.63
EBIT Margin	60.70%	49.47%	65.29%	41.64%	69.81%	46.69%
Funds From Operations (FFO)	5.6	8.03	3.77	6.84	2.75	3.18
FFO Per Share	0.09	0.13	0.06	0.12	0.05	0.06
Adjusted Funds From Operations (AFFO)	-	8.03	3.77	6.84	2.75	3.18
AFFO Per Share	-	0.13	0.06	0.12	0.05	0.06
FFO Payout Ratio	51.67%	29.69%	56.75%	31.28%	32.70%	10.50%
Effective Tax Rate	16.91%	21.88%	14.74%	21.75%	13.80%	17.44%
Revenue as Reported	12.01	22.09	8.64	23.81	6.45	10.16

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