Axis Real Estate Investment Trust
KLSE:AXREIT
Income Statement
Earnings Waterfall
Axis Real Estate Investment Trust
Income Statement
Axis Real Estate Investment Trust
| Sep-2006 | Dec-2006 | Mar-2007 | Jun-2007 | Sep-2007 | Dec-2007 | Mar-2008 | Jun-2008 | Sep-2008 | Dec-2008 | Mar-2009 | Jun-2009 | Sep-2009 | Dec-2009 | Mar-2010 | Jun-2010 | Sep-2010 | Dec-2010 | Mar-2011 | Jun-2011 | Sep-2011 | Dec-2011 | Mar-2012 | Jun-2012 | Sep-2012 | Dec-2012 | Mar-2013 | Jun-2013 | Sep-2013 | Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | Jun-2025 | Sep-2025 | Dec-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Expense |
2
|
3
|
4
|
5
|
5
|
6
|
7
|
7
|
8
|
9
|
9
|
10
|
11
|
11
|
12
|
13
|
15
|
17
|
18
|
20
|
22
|
23
|
22
|
22
|
21
|
22
|
24
|
25
|
25
|
24
|
23
|
23
|
23
|
24
|
25
|
27
|
29
|
30
|
31
|
31
|
31
|
32
|
32
|
32
|
32
|
32
|
33
|
36
|
39
|
42
|
45
|
47
|
48
|
48
|
46
|
43
|
41
|
40
|
40
|
42
|
44
|
46
|
46
|
47
|
50
|
53
|
57
|
59
|
60
|
61
|
62
|
65
|
69
|
74
|
76
|
0
|
0
|
0
|
|
| Revenue |
39
N/A
|
41
+5%
|
42
+3%
|
44
+3%
|
45
+2%
|
47
+5%
|
50
+8%
|
55
+9%
|
60
+8%
|
63
+7%
|
66
+5%
|
68
+3%
|
69
+2%
|
72
+4%
|
74
+3%
|
78
+5%
|
83
+6%
|
90
+9%
|
97
+8%
|
105
+8%
|
112
+7%
|
118
+6%
|
124
+5%
|
129
+4%
|
134
+3%
|
137
+2%
|
139
+2%
|
141
+1%
|
143
+1%
|
144
+0%
|
144
+0%
|
144
0%
|
142
-2%
|
140
-1%
|
146
+4%
|
153
+5%
|
162
+6%
|
166
+2%
|
166
+0%
|
166
+0%
|
166
0%
|
171
+3%
|
173
+1%
|
173
+0%
|
173
+0%
|
173
0%
|
175
+1%
|
181
+3%
|
192
+6%
|
211
+10%
|
221
+5%
|
227
+3%
|
229
+1%
|
222
-3%
|
223
+0%
|
225
+1%
|
228
+1%
|
232
+2%
|
234
+1%
|
239
+2%
|
242
+1%
|
246
+2%
|
255
+4%
|
267
+5%
|
276
+4%
|
284
+3%
|
288
+1%
|
283
-2%
|
284
+0%
|
288
+2%
|
294
+2%
|
303
+3%
|
311
+3%
|
322
+4%
|
336
+4%
|
350
+4%
|
362
+3%
|
365
+1%
|
|
| Gross Profit | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cost of Revenue |
(7)
|
(10)
|
(8)
|
(8)
|
(8)
|
(12)
|
(9)
|
(9)
|
(9)
|
(14)
|
(10)
|
(11)
|
(11)
|
(17)
|
(12)
|
(13)
|
(13)
|
(19)
|
(14)
|
(15)
|
(16)
|
(25)
|
(18)
|
(19)
|
(19)
|
(30)
|
(20)
|
(21)
|
(21)
|
(21)
|
(22)
|
(22)
|
(22)
|
(22)
|
(22)
|
(22)
|
(23)
|
(24)
|
(24)
|
(25)
|
(26)
|
(27)
|
(27)
|
(26)
|
(27)
|
(27)
|
(27)
|
(28)
|
(27)
|
(28)
|
(28)
|
(29)
|
(30)
|
(31)
|
(31)
|
(32)
|
(33)
|
(34)
|
(34)
|
(34)
|
(33)
|
(33)
|
(33)
|
(35)
|
(38)
|
(39)
|
(42)
|
(42)
|
(43)
|
(43)
|
(43)
|
(44)
|
(44)
|
(46)
|
(47)
|
(47)
|
(48)
|
(49)
|
|
| Gross Profit |
32
N/A
|
31
-3%
|
34
+12%
|
35
+3%
|
36
+2%
|
35
-3%
|
42
+19%
|
46
+11%
|
50
+9%
|
49
-2%
|
56
+14%
|
57
+3%
|
58
+1%
|
55
-5%
|
62
+13%
|
66
+5%
|
70
+7%
|
71
+1%
|
84
+19%
|
90
+7%
|
96
+6%
|
93
-3%
|
106
+14%
|
110
+5%
|
114
+4%
|
106
-7%
|
119
+12%
|
120
+1%
|
122
+2%
|
123
+0%
|
123
0%
|
122
0%
|
120
-2%
|
119
-1%
|
124
+5%
|
130
+5%
|
139
+7%
|
142
+2%
|
142
+0%
|
141
-1%
|
140
-1%
|
144
+3%
|
146
+1%
|
146
+0%
|
147
+0%
|
146
0%
|
148
+2%
|
153
+3%
|
164
+7%
|
183
+11%
|
192
+5%
|
199
+3%
|
200
+0%
|
192
-4%
|
191
0%
|
192
+1%
|
195
+1%
|
199
+2%
|
200
+1%
|
205
+2%
|
209
+2%
|
213
+2%
|
221
+4%
|
231
+4%
|
238
+3%
|
245
+3%
|
246
+0%
|
241
-2%
|
241
+0%
|
245
+2%
|
251
+2%
|
259
+3%
|
266
+3%
|
277
+4%
|
290
+5%
|
303
+5%
|
314
+4%
|
316
+1%
|
|
| Operating Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Expenses |
(3)
|
(1)
|
(4)
|
(4)
|
(4)
|
(1)
|
(4)
|
(5)
|
(6)
|
(2)
|
(6)
|
(6)
|
(6)
|
(1)
|
(5)
|
(5)
|
(5)
|
(1)
|
(5)
|
(6)
|
(6)
|
(5)
|
(14)
|
(15)
|
(17)
|
(5)
|
(17)
|
(16)
|
(15)
|
(15)
|
(16)
|
(16)
|
(16)
|
(13)
|
(15)
|
(17)
|
(19)
|
(22)
|
(22)
|
(21)
|
(21)
|
(20)
|
(21)
|
(22)
|
(22)
|
(22)
|
(23)
|
(21)
|
(22)
|
(18)
|
(21)
|
(23)
|
(27)
|
(24)
|
(22)
|
(24)
|
(23)
|
(27)
|
(28)
|
(31)
|
(29)
|
(29)
|
(34)
|
(26)
|
(28)
|
(28)
|
(33)
|
(39)
|
(40)
|
(40)
|
(38)
|
(37)
|
(35)
|
(32)
|
(38)
|
(40)
|
(42)
|
(46)
|
|
| Selling, General & Administrative |
(3)
|
(1)
|
(4)
|
(4)
|
(4)
|
(1)
|
(4)
|
(5)
|
(6)
|
(2)
|
(6)
|
(6)
|
(6)
|
(1)
|
(6)
|
(7)
|
(7)
|
(1)
|
(8)
|
(9)
|
(9)
|
(1)
|
(10)
|
(11)
|
(11)
|
(2)
|
(12)
|
(12)
|
(12)
|
(13)
|
(13)
|
(13)
|
(13)
|
(14)
|
(15)
|
(16)
|
(17)
|
(18)
|
(18)
|
(18)
|
(18)
|
(18)
|
(18)
|
(17)
|
(17)
|
(18)
|
(19)
|
(20)
|
(21)
|
(21)
|
(20)
|
(21)
|
(22)
|
(22)
|
(24)
|
(25)
|
(25)
|
(26)
|
(26)
|
(30)
|
(28)
|
(27)
|
(28)
|
(25)
|
(28)
|
(32)
|
(35)
|
(38)
|
(38)
|
(37)
|
(33)
|
(32)
|
(32)
|
(35)
|
(36)
|
(38)
|
(39)
|
(40)
|
|
| Depreciation & Amortization |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
|
| Other Operating Expenses |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
1
|
1
|
0
|
3
|
2
|
3
|
(3)
|
(4)
|
(4)
|
(6)
|
(4)
|
(4)
|
(4)
|
(3)
|
(2)
|
(3)
|
(2)
|
(3)
|
0
|
0
|
(1)
|
(2)
|
(3)
|
(3)
|
(3)
|
(2)
|
(2)
|
(3)
|
(4)
|
(4)
|
(4)
|
(3)
|
(1)
|
(1)
|
4
|
(0)
|
(2)
|
(5)
|
(2)
|
2
|
1
|
3
|
(0)
|
(1)
|
(0)
|
(0)
|
(2)
|
(5)
|
(0)
|
0
|
5
|
2
|
(1)
|
(1)
|
(3)
|
(4)
|
(4)
|
(3)
|
4
|
(1)
|
(1)
|
(3)
|
(5)
|
|
| Operating Income |
28
N/A
|
30
+5%
|
30
+1%
|
31
+3%
|
32
+3%
|
34
+6%
|
37
+10%
|
41
+11%
|
45
+8%
|
48
+6%
|
50
+5%
|
51
+3%
|
52
+2%
|
54
+3%
|
57
+6%
|
60
+6%
|
64
+7%
|
69
+8%
|
78
+13%
|
83
+6%
|
89
+7%
|
88
-1%
|
92
+4%
|
95
+4%
|
97
+2%
|
101
+4%
|
102
+1%
|
104
+2%
|
107
+3%
|
108
+1%
|
107
-1%
|
106
0%
|
104
-3%
|
105
+1%
|
109
+4%
|
113
+4%
|
120
+6%
|
120
+0%
|
120
+0%
|
120
0%
|
119
0%
|
124
+4%
|
124
+0%
|
125
+0%
|
125
0%
|
124
-1%
|
126
+1%
|
132
+5%
|
142
+8%
|
165
+16%
|
171
+4%
|
176
+2%
|
173
-1%
|
167
-3%
|
169
+1%
|
168
-1%
|
171
+2%
|
171
0%
|
172
+1%
|
174
+1%
|
180
+4%
|
184
+2%
|
188
+2%
|
205
+9%
|
210
+2%
|
218
+4%
|
213
-2%
|
202
-5%
|
202
0%
|
206
+2%
|
214
+4%
|
222
+4%
|
231
+4%
|
245
+6%
|
252
+3%
|
263
+4%
|
272
+3%
|
270
0%
|
|
| Pre-Tax Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Income Expense |
6
|
13
|
13
|
3
|
33
|
35
|
34
|
33
|
2
|
16
|
15
|
16
|
16
|
8
|
9
|
15
|
25
|
32
|
25
|
14
|
1
|
(7)
|
(6)
|
(6)
|
(6)
|
2
|
1
|
4
|
18
|
4
|
6
|
4
|
10
|
5
|
2
|
8
|
(14)
|
(23)
|
(22)
|
(17)
|
(5)
|
(2)
|
(5)
|
(18)
|
(22)
|
(1)
|
6
|
3
|
(10)
|
(6)
|
(17)
|
(19)
|
(20)
|
46
|
47
|
50
|
53
|
(29)
|
(27)
|
(28)
|
(30)
|
20
|
24
|
22
|
24
|
(26)
|
(30)
|
(32)
|
(33)
|
16
|
20
|
16
|
2
|
(32)
|
(33)
|
(36)
|
(29)
|
14
|
|
| Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Total Other Income |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Pre-Tax Income |
35
N/A
|
43
+24%
|
43
-1%
|
34
-20%
|
65
+89%
|
69
+6%
|
71
+4%
|
75
+4%
|
47
-37%
|
63
+35%
|
65
+2%
|
68
+5%
|
68
+1%
|
62
-9%
|
66
+6%
|
75
+14%
|
89
+19%
|
101
+14%
|
104
+2%
|
98
-6%
|
90
-8%
|
81
-10%
|
85
+6%
|
89
+4%
|
92
+3%
|
103
+12%
|
103
0%
|
108
+5%
|
125
+16%
|
111
-11%
|
113
+1%
|
110
-2%
|
114
+3%
|
111
-3%
|
111
+1%
|
121
+9%
|
106
-13%
|
97
-9%
|
98
+2%
|
103
+5%
|
115
+12%
|
122
+6%
|
120
-2%
|
107
-11%
|
103
-4%
|
123
+19%
|
131
+7%
|
135
+3%
|
132
-2%
|
159
+21%
|
155
-3%
|
157
+1%
|
153
-2%
|
213
+39%
|
216
+1%
|
218
+1%
|
224
+3%
|
143
-36%
|
145
+2%
|
146
+0%
|
150
+3%
|
204
+36%
|
212
+4%
|
227
+7%
|
234
+3%
|
192
-18%
|
183
-5%
|
170
-7%
|
169
-1%
|
222
+31%
|
234
+5%
|
238
+2%
|
233
-2%
|
213
-9%
|
219
+3%
|
228
+4%
|
242
+6%
|
285
+17%
|
|
| Net Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tax Provision |
(0)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
0
|
(0)
|
0
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(1)
|
(1)
|
(1)
|
0
|
(4)
|
(4)
|
(4)
|
(4)
|
(2)
|
(2)
|
(2)
|
(2)
|
(4)
|
(4)
|
0
|
0
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
|
| Income from Continuing Operations |
35
|
43
|
43
|
34
|
65
|
69
|
71
|
75
|
47
|
63
|
65
|
68
|
68
|
62
|
66
|
75
|
89
|
101
|
104
|
98
|
90
|
81
|
85
|
89
|
92
|
103
|
103
|
108
|
125
|
111
|
113
|
110
|
114
|
111
|
111
|
121
|
106
|
97
|
98
|
103
|
115
|
122
|
120
|
107
|
103
|
123
|
131
|
135
|
132
|
155
|
150
|
152
|
149
|
209
|
212
|
214
|
220
|
142
|
145
|
145
|
150
|
200
|
208
|
224
|
230
|
190
|
181
|
169
|
167
|
218
|
230
|
234
|
229
|
210
|
217
|
225
|
239
|
282
|
|
| Net Income (Common) |
35
N/A
|
43
+24%
|
43
-1%
|
34
-20%
|
65
+90%
|
69
+6%
|
71
+4%
|
75
+4%
|
47
-37%
|
63
+35%
|
65
+2%
|
68
+5%
|
68
+1%
|
62
-9%
|
66
+6%
|
75
+14%
|
89
+19%
|
101
+14%
|
104
+2%
|
98
-6%
|
90
-8%
|
81
-10%
|
85
+5%
|
89
+4%
|
92
+3%
|
103
+12%
|
103
0%
|
108
+5%
|
125
+16%
|
111
-11%
|
113
+1%
|
110
-2%
|
114
+3%
|
111
-3%
|
111
+1%
|
121
+9%
|
106
-13%
|
97
-9%
|
98
+2%
|
103
+5%
|
115
+12%
|
122
+6%
|
120
-2%
|
107
-11%
|
103
-4%
|
123
+19%
|
131
+7%
|
135
+3%
|
132
-2%
|
155
+17%
|
150
-3%
|
152
+1%
|
149
-2%
|
209
+41%
|
212
+1%
|
214
+1%
|
220
+3%
|
142
-35%
|
145
+2%
|
145
+0%
|
150
+3%
|
200
+34%
|
208
+4%
|
224
+7%
|
230
+3%
|
190
-17%
|
181
-5%
|
169
-7%
|
167
-1%
|
218
+30%
|
230
+5%
|
234
+2%
|
229
-2%
|
210
-8%
|
217
+3%
|
225
+4%
|
239
+6%
|
282
+18%
|
|
| EPS (Diluted) |
0.1
N/A
|
0.1
N/A
|
0.12
+20%
|
0.1
-17%
|
0.17
+70%
|
0.17
N/A
|
0.13
-24%
|
0.14
+8%
|
0.11
-21%
|
0.13
+18%
|
0.13
N/A
|
0.13
N/A
|
0.13
N/A
|
0.11
-15%
|
0.11
N/A
|
0.13
+18%
|
0.11
-15%
|
0.15
+36%
|
0.15
N/A
|
0.13
-13%
|
0.12
-8%
|
0.11
-8%
|
0.1
-9%
|
0.1
N/A
|
0.1
N/A
|
0.11
+10%
|
0.11
N/A
|
0.12
+9%
|
0.14
+17%
|
0.12
-14%
|
0.12
N/A
|
0.11
-8%
|
0.11
N/A
|
0.12
+9%
|
0.11
-8%
|
0.12
+9%
|
0.1
-17%
|
0.09
-10%
|
0.09
N/A
|
0.09
N/A
|
0.1
+11%
|
0.11
+10%
|
0.1
-9%
|
0.09
-10%
|
0.09
N/A
|
0.1
+11%
|
0.11
+10%
|
0.11
N/A
|
0.1
-9%
|
0.13
+30%
|
0.11
-15%
|
0.11
N/A
|
0.11
N/A
|
0.15
+36%
|
0.15
N/A
|
0.15
N/A
|
0.15
N/A
|
0.1
-33%
|
0.09
-10%
|
0.09
N/A
|
0.1
+11%
|
0.14
+40%
|
0.14
N/A
|
0.15
+7%
|
0.15
N/A
|
0.12
-20%
|
0.12
N/A
|
0.11
-8%
|
0.1
-9%
|
0.13
+30%
|
0.13
N/A
|
0.13
N/A
|
0.13
N/A
|
0.12
-8%
|
0.12
N/A
|
0.12
N/A
|
0.12
N/A
|
0.14
+17%
|
|