BUD:SPLUS Income Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020
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	2020
Rental Revenue	33	24.18	22.2	11.05	-	Upgrade
Other Revenue	14.28	10.72	25.99	13.09	-	Upgrade
Total Revenue	47.28	34.9	48.19	24.14	-	Upgrade
Revenue Growth (YoY	35.48%	-27.58%	99.67%	-	-	Upgrade
Property Expenses	18	12.95	28.9	15.27	-	Upgrade
Selling, General & Administrative	4.66	3.44	2.79	3.65	0.34	Upgrade
Other Operating Expenses	-	-0.62	-	-	-	Upgrade
Total Operating Expenses	22.67	15.77	31.69	18.92	0.34	Upgrade
Operating Income	24.61	19.13	16.5	5.21	-0.34	Upgrade
Interest Expense	-11.54	-9.49	-11.55	-3.39	-0.02	Upgrade
Interest & Investment Income	1.33	0.88	2.12	2.92	0.73	Upgrade
Other Non-Operating Income	0	-	-	-	-	Upgrade
EBT Excluding Unusual Items	14.4	10.51	7.07	4.75	0.37	Upgrade
Asset Writedown	25.97	13.5	5.72	22	-	Upgrade
Pretax Income	40.38	24.02	12.79	26.75	0.37	Upgrade
Income Tax Expense	3.76	-0.19	1.3	3.84	-	Upgrade
Earnings From Continuing Operations	36.62	24.21	11.49	22.91	0.37	Upgrade
Minority Interest in Earnings	-3.92	0.02	-	-	-	Upgrade
Net Income	32.7	24.23	11.49	22.91	0.37	Upgrade
Net Income to Common	32.7	24.23	11.49	22.91	0.37	Upgrade
Net Income Growth	34.97%	110.84%	-49.86%	6026.83%	-	Upgrade
Basic Shares Outstanding	24	13	10	6	0	Upgrade
Diluted Shares Outstanding	24	13	10	6	0	Upgrade
Shares Change (YoY)	85.13%	27.98%	84.70%	3913.02%	1.55%	Upgrade
EPS (Basic)	1.35	1.85	1.12	4.13	2.70	Upgrade
EPS (Diluted)	1.35	1.85	1.12	4.13	2.70	Upgrade
EPS Growth	-27.10%	64.74%	-72.85%	52.67%	-	Upgrade
Dividend Per Share	-	0.840	0.760	0.400	-	Upgrade
Dividend Growth	-	10.53%	90.00%	-	-	Upgrade
Operating Margin	52.06%	54.80%	34.24%	21.60%	-	Upgrade
Profit Margin	69.16%	69.42%	23.84%	94.94%	-	Upgrade
EBIT	24.61	19.13	16.5	5.21	-0.34	Upgrade
EBIT Margin	52.06%	54.80%	34.24%	21.60%	-	Upgrade
Effective Tax Rate	9.31%	-	10.15%	14.35%	-	Upgrade

Source: S&P Capital IQ. Real Estate template. Financial Sources.