Income Statement

Earnings Waterfall
ESR-REIT

Income Statement
ESR-REIT

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Income Statement
Currency: SGD
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 Jun-2020 Dec-2020 Jun-2021 Dec-2021 Jun-2022 Dec-2022 Jun-2023 Dec-2023 Jun-2024 Dec-2024 Jun-2025
Revenue
Interest Expense
0
10
0
0
0
12
0
0
0
22
0
0
0
26
0
0
0
26
0
0
0
20
0
0
0
24
0
0
0
18
0
0
0
22
0
0
0
21
0
0
0
20
0
0
0
27
0
0
0
62
29
57
55
56
62
86
114
124
116
110
117
Revenue
48
N/A
53
+11%
60
+13%
65
+9%
70
+7%
72
+3%
73
+1%
74
+1%
74
+1%
74
+1%
75
+0%
75
0%
74
-1%
74
+0%
75
+1%
76
+2%
79
+3%
80
+2%
82
+2%
84
+2%
86
+2%
89
+4%
93
+4%
96
+3%
97
+1%
97
-1%
95
-1%
95
N/A
96
+1%
99
+3%
103
+4%
107
+3%
110
+3%
112
+2%
113
+1%
114
+0%
113
-1%
112
-1%
111
-1%
111
-1%
110
0%
110
-1%
116
+5%
120
+4%
126
+4%
157
+25%
188
+20%
219
+17%
249
+13%
253
+2%
238
-6%
230
-3%
236
+3%
241
+2%
269
+12%
343
+28%
392
+14%
386
-2%
370
-4%
371
+0%
413
+11%
Gross Profit
Cost of Revenue
(11)
(11)
(13)
(14)
(14)
(16)
(17)
(17)
(17)
(16)
(16)
(16)
(16)
(15)
(16)
(16)
(18)
(18)
(19)
(20)
(20)
(23)
(25)
(40)
(41)
(39)
(40)
(29)
(29)
(31)
(34)
(34)
(35)
(36)
(36)
(37)
(38)
(39)
(40)
(41)
(41)
(40)
(43)
(44)
(46)
(57)
(64)
(73)
(84)
(83)
(84)
(89)
(88)
(86)
(101)
(125)
(139)
(141)
(137)
(137)
(142)
Gross Profit
37
N/A
42
+14%
47
+12%
51
+10%
56
+9%
57
+1%
56
0%
56
0%
57
+1%
59
+4%
58
-1%
59
+0%
58
-1%
60
+3%
59
-1%
60
+1%
61
+2%
63
+3%
63
+1%
64
+2%
66
+2%
66
0%
68
+3%
56
-17%
56
0%
58
+2%
55
-4%
67
+20%
67
+1%
68
+1%
70
+2%
73
+5%
75
+3%
77
+3%
77
+1%
77
0%
75
-2%
73
-3%
72
-2%
70
-3%
70
-1%
69
0%
73
+5%
77
+5%
79
+4%
100
+26%
124
+23%
146
+18%
165
+13%
170
+3%
154
-10%
141
-9%
148
+5%
156
+5%
168
+8%
218
+30%
253
+16%
245
-3%
233
-5%
233
+0%
270
+16%
Operating Income
Operating Expenses
(0)
(1)
0
0
0
(1)
0
0
0
0
0
0
0
(1)
(0)
0
(0)
(1)
0
0
2
(1)
2
2
(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)
0
0
0
0
0
0
0
0
0
0
Selling, General & Administrative
0
(1)
0
0
0
(1)
0
0
0
(1)
0
0
0
(1)
0
0
0
(1)
0
0
0
(1)
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
Other Operating Expenses
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
2
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
Operating Income
37
N/A
41
+12%
47
+14%
51
+10%
56
+9%
56
+0%
56
+1%
56
0%
57
+1%
59
+4%
58
-1%
59
+0%
58
-1%
59
+2%
59
+0%
60
+1%
61
+2%
62
+1%
63
+2%
64
+2%
68
+5%
65
-4%
70
+7%
58
-17%
56
-4%
58
+2%
55
-4%
67
+20%
67
+1%
68
+1%
70
+2%
73
+5%
75
+3%
77
+3%
77
+1%
77
0%
75
-2%
73
-3%
72
-2%
70
-3%
70
-1%
69
0%
73
+5%
77
+5%
79
+4%
100
+26%
124
+23%
146
+18%
165
+13%
170
+3%
153
-10%
141
-8%
148
+5%
156
+5%
168
+8%
218
+30%
253
+16%
245
-3%
233
-5%
233
+0%
270
+16%
Pre-Tax Income
Interest Income Expense
(7)
61
63
81
62
(22)
(34)
(143)
(129)
(120)
(112)
(18)
(20)
23
23
56
55
21
22
(22)
(18)
22
33
70
104
61
53
14
(20)
(23)
(24)
(21)
(22)
(24)
(26)
(24)
(24)
(66)
(66)
(65)
(65)
(68)
(69)
(70)
(70)
(45)
(53)
(67)
(78)
(161)
(226)
(130)
(47)
(49)
5
(58)
(246)
(319)
(300)
(339)
(328)
Non-Reccuring Items
0
0
0
0
0
0
0
0
0
0
2
3
4
4
4
3
3
2
1
0
0
2
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)
0
0
0
0
0
0
0
0
0
0
0
Total Other Income
0
0
0
0
0
0
0
0
0
(1)
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
(283)
(283)
(282)
(282)
2
3
2
2
2
(461)
(421)
43
9
10
8
9
Pre-Tax Income
30
N/A
102
+245%
109
+7%
133
+21%
118
-11%
33
-72%
23
-33%
(87)
N/A
(72)
+17%
(61)
+15%
(52)
+15%
43
N/A
42
-3%
86
+105%
86
+0%
119
+38%
119
+1%
85
-29%
86
+1%
43
-50%
50
+15%
90
+80%
103
+15%
129
+25%
160
+25%
119
-26%
108
-9%
80
-26%
48
-41%
45
-5%
46
+1%
52
+14%
53
+1%
53
-1%
52
-2%
53
+4%
52
-3%
7
-86%
6
-16%
5
-15%
4
-15%
1
-67%
4
+183%
7
+73%
9
+37%
(228)
N/A
(212)
+7%
(204)
+4%
(194)
+4%
10
N/A
(70)
N/A
13
N/A
102
+702%
108
+5%
(288)
N/A
(262)
+9%
50
N/A
(66)
N/A
(56)
+14%
(98)
-73%
(49)
+50%
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)
(0)
(0)
(0)
0
(2)
(14)
(9)
2
2
0
(10)
(12)
Income from Continuing Operations
30
102
109
133
118
33
23
(87)
(72)
(61)
(52)
43
42
86
86
119
119
85
86
43
50
90
103
129
160
119
108
80
48
45
46
52
53
53
52
53
52
7
6
5
4
1
4
7
9
(228)
(212)
(204)
(194)
10
(70)
13
102
106
(302)
(271)
52
(64)
(56)
(108)
(61)
Income to Minority Interest
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)
(2)
(3)
(4)
(4)
(4)
(4)
(4)
(4)
(3)
(3)
(4)
(4)
(5)
(7)
(7)
(4)
(3)
(20)
(25)
Net Income (Common)
30
N/A
102
+245%
109
+7%
133
+21%
118
-11%
33
-72%
23
-33%
(87)
N/A
(72)
+17%
(61)
+15%
(52)
+15%
43
N/A
42
-3%
86
+106%
86
+0%
119
+38%
119
+1%
85
-29%
86
+1%
43
-50%
50
+15%
90
+80%
103
+15%
129
+25%
160
+25%
119
-26%
108
-9%
80
-26%
48
-41%
45
-5%
46
+1%
52
+14%
53
+1%
53
-1%
52
-2%
53
+4%
52
-3%
7
-86%
6
-16%
5
-15%
4
-15%
(1)
N/A
(1)
-24%
(0)
+42%
(1)
-42%
(239)
-46 853%
(223)
+7%
(215)
+4%
(206)
+4%
(1)
+100%
(70)
-8 451%
3
N/A
91
+3 201%
95
+3%
(314)
N/A
(290)
+8%
28
N/A
(86)
N/A
(78)
+10%
(148)
-91%
(110)
+26%
EPS (Diluted)
0.05
N/A
1.72
+3 340%
0.15
-91%
0.18
+20%
0.15
-17%
0.4
+167%
0.03
-93%
-0.11
N/A
-0.09
+18%
-0.71
-689%
-0.07
+90%
0.05
N/A
0.05
N/A
0.9
+1 700%
0.09
-90%
0.11
+22%
0.11
N/A
0.71
+545%
0.07
-90%
0.04
-43%
0.04
N/A
0.73
+1 725%
0.09
-88%
0.11
+22%
0.14
+27%
0.95
+579%
0.09
-91%
0.06
-33%
0.03
-50%
0.35
+1 067%
0.03
-91%
0.04
+33%
0.04
N/A
0.4
+900%
0.04
-90%
0.04
N/A
0.04
N/A
0.05
+25%
0.01
-80%
0.01
N/A
0.01
N/A
0
N/A
0
N/A
0
N/A
0
N/A
-1.28
N/A
-0.07
+95%
-0.07
N/A
-0.07
N/A
0
N/A
-0.19
N/A
0
N/A
0.24
N/A
0.24
N/A
-0.63
N/A
-0.5
+21%
0.03
N/A
-0.12
N/A
-0.1
+17%
-0.19
-90%
-0.14
+26%