Fortress Real Estate Investments Ltd
JSE:FFB
Income Statement
Earnings Waterfall
Fortress Real Estate Investments Ltd
Income Statement
Fortress Real Estate Investments Ltd
| Jun-2013 | Dec-2013 | Jun-2014 | Dec-2014 | Jun-2015 | Dec-2015 | Jun-2016 | Dec-2016 | Jun-2017 | Dec-2017 | Jun-2018 | Dec-2018 | Jun-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 |
570
|
699
|
929
|
1 107
|
776
|
488
|
757
|
1 048
|
1 176
|
1 155
|
1 187
|
1 195
|
1 191
|
1 155
|
1 128
|
1 015
|
851
|
875
|
975
|
1 083
|
1 226
|
1 580
|
1 864
|
1 906
|
1 883
|
|
| Revenue |
688
N/A
|
722
+5%
|
763
+6%
|
763
0%
|
842
+10%
|
1 071
+27%
|
2 276
+113%
|
3 262
+43%
|
3 297
+1%
|
3 488
+6%
|
3 633
+4%
|
3 755
+3%
|
3 628
-3%
|
3 726
+3%
|
3 617
-3%
|
3 312
-8%
|
3 233
-2%
|
3 308
+2%
|
3 446
+4%
|
3 629
+5%
|
3 788
+4%
|
4 056
+7%
|
4 384
+8%
|
5 178
+18%
|
6 016
+16%
|
|
| Gross Profit | ||||||||||||||||||||||||||
| Cost of Revenue |
(223)
|
(239)
|
(247)
|
(249)
|
(288)
|
(371)
|
(719)
|
(1 072)
|
(1 115)
|
(1 128)
|
(1 096)
|
(1 134)
|
(1 184)
|
(1 202)
|
(1 410)
|
(1 461)
|
(1 314)
|
(1 358)
|
(1 366)
|
(1 418)
|
(1 545)
|
(1 651)
|
(1 765)
|
(1 783)
|
(1 906)
|
|
| Gross Profit |
465
N/A
|
483
+4%
|
516
+7%
|
514
0%
|
555
+8%
|
700
+26%
|
1 557
+122%
|
2 190
+41%
|
2 182
0%
|
2 360
+8%
|
2 537
+8%
|
2 621
+3%
|
2 444
-7%
|
2 524
+3%
|
2 208
-13%
|
1 851
-16%
|
1 920
+4%
|
1 950
+2%
|
2 081
+7%
|
2 212
+6%
|
2 243
+1%
|
2 405
+7%
|
2 619
+9%
|
3 395
+30%
|
4 109
+21%
|
|
| Operating Income | ||||||||||||||||||||||||||
| Operating Expenses |
(26)
|
(18)
|
36
|
24
|
(37)
|
(50)
|
(105)
|
(134)
|
(123)
|
(111)
|
(110)
|
(341)
|
(345)
|
(376)
|
(261)
|
(277)
|
(259)
|
(30)
|
(24)
|
(246)
|
(286)
|
(342)
|
(325)
|
(363)
|
(367)
|
|
| Selling, General & Administrative |
(26)
|
(26)
|
(33)
|
(37)
|
(37)
|
(50)
|
(105)
|
(134)
|
(123)
|
(111)
|
(110)
|
(137)
|
(345)
|
(376)
|
(261)
|
(277)
|
(247)
|
(253)
|
(264)
|
(269)
|
(278)
|
(341)
|
(332)
|
(359)
|
(367)
|
|
| Other Operating Expenses |
0
|
8
|
69
|
61
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(204)
|
0
|
0
|
0
|
0
|
(12)
|
223
|
240
|
23
|
(8)
|
(2)
|
7
|
(4)
|
0
|
|
| Operating Income |
440
N/A
|
465
+6%
|
552
+19%
|
538
-3%
|
518
-4%
|
650
+25%
|
1 453
+124%
|
2 056
+42%
|
2 059
+0%
|
2 249
+9%
|
2 427
+8%
|
2 280
-6%
|
2 100
-8%
|
2 148
+2%
|
1 947
-9%
|
1 574
-19%
|
1 661
+6%
|
1 921
+16%
|
2 057
+7%
|
1 966
-4%
|
1 957
0%
|
2 063
+5%
|
2 293
+11%
|
3 033
+32%
|
3 742
+23%
|
|
| Pre-Tax Income | ||||||||||||||||||||||||||
| Interest Income Expense |
302
|
336
|
21
|
(278)
|
382
|
(688)
|
2 064
|
3 511
|
2 433
|
1 233
|
(846)
|
1 272
|
648
|
485
|
(5 875)
|
(6 966)
|
(323)
|
56
|
1 126
|
1 802
|
295
|
207
|
934
|
(1 197)
|
(1 645)
|
|
| Non-Reccuring Items |
654
|
599
|
674
|
1 430
|
1 914
|
(5 759)
|
(8 793)
|
(1 226)
|
(2)
|
6 329
|
(7 432)
|
(15 982)
|
321
|
718
|
(4 438)
|
(2 555)
|
2 037
|
1 689
|
(2 338)
|
(1 261)
|
2 372
|
2 997
|
2 456
|
1 788
|
1 702
|
|
| 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
|
|
| Pre-Tax Income |
1 396
N/A
|
1 400
+0%
|
1 247
-11%
|
1 690
+36%
|
2 815
+67%
|
(5 797)
N/A
|
(5 276)
+9%
|
4 340
N/A
|
4 490
+3%
|
9 811
+118%
|
(5 851)
N/A
|
(12 430)
-112%
|
3 068
N/A
|
3 351
+9%
|
(8 366)
N/A
|
(7 947)
+5%
|
3 375
N/A
|
3 667
+9%
|
845
-77%
|
2 507
+197%
|
4 624
+84%
|
5 267
+14%
|
5 684
+8%
|
3 624
-36%
|
3 799
+5%
|
|
| Net Income | ||||||||||||||||||||||||||
| Tax Provision |
(125)
|
(25)
|
(82)
|
(159)
|
(251)
|
(127)
|
(96)
|
(342)
|
(64)
|
1 073
|
982
|
(149)
|
(422)
|
(235)
|
(30)
|
(54)
|
22
|
68
|
(43)
|
(421)
|
1 264
|
787
|
(1 338)
|
(849)
|
(1 127)
|
|
| Income from Continuing Operations |
1 272
|
1 375
|
1 165
|
1 531
|
2 564
|
(5 924)
|
(5 372)
|
3 999
|
4 426
|
10 885
|
(4 869)
|
(12 579)
|
2 647
|
3 115
|
(8 396)
|
(8 001)
|
3 397
|
3 735
|
802
|
2 086
|
5 888
|
6 054
|
4 346
|
2 774
|
2 672
|
|
| Income to Minority Interest |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
2
|
(6)
|
(5)
|
(35)
|
(44)
|
(29)
|
(25)
|
27
|
(9)
|
(44)
|
(10)
|
(24)
|
(20)
|
29
|
34
|
(14)
|
(19)
|
4
|
|
| Net Income (Common) |
1 272
N/A
|
1 375
+8%
|
1 165
-15%
|
1 531
+31%
|
2 564
+67%
|
(5 924)
N/A
|
(5 372)
+9%
|
4 001
N/A
|
4 420
+10%
|
10 879
+146%
|
(4 904)
N/A
|
(12 623)
-157%
|
2 618
N/A
|
3 090
+18%
|
(8 369)
N/A
|
(8 010)
+4%
|
3 353
N/A
|
3 725
+11%
|
778
-79%
|
2 065
+166%
|
5 917
+187%
|
6 088
+3%
|
4 333
-29%
|
2 756
-36%
|
2 676
-3%
|
|
| EPS (Diluted) |
4.08
N/A
|
1.9
-53%
|
1.48
-22%
|
1.79
+21%
|
2.86
+60%
|
-5.26
N/A
|
-3.33
+37%
|
1.86
N/A
|
2.02
+9%
|
4.83
+139%
|
-2.17
N/A
|
-5.6
-158%
|
1.17
N/A
|
1.44
+23%
|
-3.9
N/A
|
-3.73
+4%
|
1.56
N/A
|
1.74
+12%
|
0.37
-79%
|
0.97
+162%
|
2.8
+189%
|
2.87
+3%
|
3.66
+28%
|
2.3
-37%
|
2.21
-4%
|
|