Keppel REIT
SGX:K71U
Income Statement
Earnings Waterfall
Keppel REIT
Revenue
|
233.1m
SGD
|
Cost of Revenue
|
-113.1m
SGD
|
Gross Profit
|
120m
SGD
|
Operating Expenses
|
10.9m
SGD
|
Operating Income
|
130.9m
SGD
|
Other Expenses
|
37.7m
SGD
|
Net Income
|
168.6m
SGD
|
Income Statement
Keppel REIT
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 | Dec-2020 | Jun-2021 | Dec-2021 | Jun-2022 | Dec-2022 | Jun-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
96
N/A
|
117
+22%
|
139
+18%
|
157
+13%
|
162
+3%
|
164
+1%
|
167
+2%
|
174
+4%
|
179
+3%
|
186
+3%
|
189
+2%
|
184
-3%
|
180
-2%
|
175
-2%
|
170
-3%
|
170
+0%
|
169
-1%
|
167
-1%
|
164
-2%
|
161
-2%
|
160
-1%
|
159
0%
|
160
+1%
|
165
+3%
|
164
0%
|
176
+7%
|
172
-2%
|
166
-4%
|
166
+0%
|
154
-7%
|
160
+4%
|
164
+2%
|
163
-1%
|
198
+22%
|
170
-14%
|
201
+18%
|
217
+8%
|
221
+2%
|
219
-1%
|
224
+2%
|
233
+4%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(53)
|
(62)
|
(71)
|
(76)
|
(75)
|
(77)
|
(79)
|
(85)
|
(87)
|
(87)
|
(89)
|
(86)
|
(88)
|
(90)
|
(90)
|
(90)
|
(90)
|
(89)
|
(90)
|
(90)
|
(89)
|
(90)
|
(89)
|
(90)
|
(89)
|
(90)
|
(89)
|
(87)
|
(86)
|
(93)
|
(93)
|
(95)
|
(95)
|
(109)
|
(90)
|
(98)
|
(106)
|
(106)
|
(107)
|
(111)
|
(113)
|
|
Gross Profit |
43
N/A
|
55
+28%
|
68
+23%
|
81
+20%
|
86
+6%
|
87
+0%
|
88
+2%
|
89
+1%
|
93
+4%
|
99
+7%
|
100
+1%
|
99
-2%
|
91
-7%
|
86
-7%
|
80
-6%
|
81
+1%
|
79
-2%
|
77
-2%
|
75
-4%
|
72
-4%
|
70
-1%
|
69
-2%
|
71
+3%
|
75
+5%
|
76
+1%
|
87
+14%
|
83
-4%
|
79
-6%
|
80
+1%
|
61
-23%
|
67
+9%
|
70
+4%
|
68
-3%
|
89
+32%
|
80
-10%
|
103
+28%
|
110
+7%
|
115
+4%
|
112
-2%
|
114
+1%
|
120
+6%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
16
|
19
|
25
|
22
|
16
|
17
|
17
|
28
|
28
|
25
|
22
|
13
|
9
|
7
|
4
|
2
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
3
|
3
|
2
|
4
|
11
|
|
Depreciation & Amortization |
(45)
|
(52)
|
(62)
|
(65)
|
(63)
|
(60)
|
(56)
|
(45)
|
(41)
|
(37)
|
(34)
|
(37)
|
(34)
|
(29)
|
(24)
|
(19)
|
(17)
|
(16)
|
(16)
|
(15)
|
(15)
|
(14)
|
(13)
|
(12)
|
(11)
|
(9)
|
(9)
|
(8)
|
(7)
|
(5)
|
0
|
(3)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Other Operating Expenses |
61
|
71
|
86
|
87
|
79
|
77
|
73
|
73
|
69
|
62
|
56
|
50
|
43
|
36
|
28
|
20
|
19
|
18
|
17
|
17
|
16
|
15
|
14
|
13
|
11
|
10
|
9
|
9
|
7
|
5
|
0
|
3
|
0
|
0
|
0
|
1
|
3
|
3
|
2
|
4
|
11
|
|
Operating Income |
59
N/A
|
74
+25%
|
92
+25%
|
103
+11%
|
103
+0%
|
103
+1%
|
105
+1%
|
117
+12%
|
120
+3%
|
124
+3%
|
122
-1%
|
111
-9%
|
101
-9%
|
92
-8%
|
84
-9%
|
82
-2%
|
80
-3%
|
79
-2%
|
76
-3%
|
73
-4%
|
72
-1%
|
71
-2%
|
72
+2%
|
76
+5%
|
77
+1%
|
87
+14%
|
84
-4%
|
79
-6%
|
80
+1%
|
62
-23%
|
67
+9%
|
70
+4%
|
68
-3%
|
89
+32%
|
80
-10%
|
104
+29%
|
113
+9%
|
117
+4%
|
114
-3%
|
118
+3%
|
131
+11%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
33
|
33
|
31
|
245
|
30
|
36
|
41
|
435
|
438
|
436
|
538
|
272
|
278
|
286
|
207
|
284
|
313
|
377
|
366
|
206
|
184
|
116
|
112
|
122
|
116
|
116
|
104
|
86
|
84
|
82
|
89
|
83
|
78
|
109
|
(76)
|
(43)
|
166
|
240
|
336
|
207
|
77
|
|
Total Other Income |
229
|
229
|
229
|
0
|
217
|
217
|
217
|
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 |
321
N/A
|
335
+5%
|
352
+5%
|
348
-1%
|
350
+1%
|
357
+2%
|
363
+2%
|
552
+52%
|
558
+1%
|
559
+0%
|
661
+18%
|
384
-42%
|
379
-1%
|
378
0%
|
292
-23%
|
367
+26%
|
393
+7%
|
456
+16%
|
442
-3%
|
279
-37%
|
256
-8%
|
186
-27%
|
185
-1%
|
197
+7%
|
192
-3%
|
203
+6%
|
188
-8%
|
165
-12%
|
164
-1%
|
143
-13%
|
156
+9%
|
153
-2%
|
146
-5%
|
198
+36%
|
5
-98%
|
61
+1 132%
|
279
+359%
|
357
+28%
|
450
+26%
|
325
-28%
|
208
-36%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(10)
|
(12)
|
(14)
|
(15)
|
(14)
|
(13)
|
(13)
|
(17)
|
(17)
|
(17)
|
(16)
|
(12)
|
(11)
|
(10)
|
(11)
|
(28)
|
(33)
|
(34)
|
(32)
|
(21)
|
(16)
|
(15)
|
(15)
|
(17)
|
(17)
|
(14)
|
(14)
|
(10)
|
(10)
|
(12)
|
(12)
|
(11)
|
(12)
|
(14)
|
(5)
|
(15)
|
(23)
|
(15)
|
(2)
|
(4)
|
(12)
|
|
Income from Continuing Operations |
311
|
324
|
338
|
333
|
336
|
344
|
350
|
535
|
542
|
543
|
644
|
372
|
369
|
368
|
281
|
339
|
360
|
421
|
410
|
258
|
240
|
171
|
170
|
180
|
176
|
189
|
174
|
155
|
154
|
131
|
144
|
142
|
134
|
184
|
0
|
46
|
256
|
343
|
448
|
321
|
196
|
|
Income to Minority Interest |
(8)
|
(9)
|
(9)
|
(3)
|
(2)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(4)
|
(8)
|
(11)
|
(14)
|
(15)
|
(18)
|
(6)
|
(6)
|
(15)
|
(20)
|
(34)
|
(29)
|
(18)
|
|
Net Income (Common) |
304
N/A
|
314
+4%
|
329
+5%
|
330
+0%
|
334
+1%
|
344
+3%
|
350
+2%
|
535
+53%
|
541
+1%
|
543
+0%
|
644
+19%
|
372
-42%
|
368
-1%
|
368
0%
|
281
-24%
|
337
+20%
|
357
+6%
|
416
+17%
|
403
-3%
|
250
-38%
|
232
-7%
|
163
-30%
|
162
-1%
|
173
+6%
|
168
-3%
|
182
+8%
|
166
-9%
|
146
-12%
|
142
-3%
|
116
-18%
|
125
+8%
|
120
-4%
|
112
-7%
|
157
+40%
|
(15)
N/A
|
29
N/A
|
232
+690%
|
313
+35%
|
405
+30%
|
283
-30%
|
169
-40%
|
|
EPS (Diluted) |
0.11
N/A
|
0.12
+9%
|
0.12
N/A
|
0.12
N/A
|
0.12
N/A
|
0.12
N/A
|
0.12
N/A
|
0.18
+50%
|
0.18
N/A
|
0.18
N/A
|
0.22
+22%
|
0.13
-41%
|
0.12
-8%
|
0.12
N/A
|
0.09
-25%
|
0.11
+22%
|
0.12
+9%
|
0.14
+17%
|
0.13
-7%
|
0.08
-38%
|
0.07
-13%
|
0.05
-29%
|
0.05
N/A
|
0.05
N/A
|
0.05
N/A
|
0.05
N/A
|
0.05
N/A
|
0.04
-20%
|
0.04
N/A
|
0.04
N/A
|
0.04
N/A
|
0.03
-25%
|
0.03
N/A
|
0.05
+67%
|
0
N/A
|
0.01
N/A
|
0.06
+500%
|
0.08
+33%
|
0.11
+38%
|
0.07
-36%
|
0.04
-43%
|