Artis Real Estate Investment Trust
TSX:AX.UN
Income Statement
Earnings Waterfall
Artis Real Estate Investment Trust
Revenue
|
335.8m
CAD
|
Cost of Revenue
|
-151.8m
CAD
|
Gross Profit
|
184m
CAD
|
Operating Expenses
|
-8.1m
CAD
|
Operating Income
|
175.9m
CAD
|
Other Expenses
|
-521m
CAD
|
Net Income
|
-345.1m
CAD
|
Income Statement
Artis Real Estate Investment Trust
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 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
463
N/A
|
478
+3%
|
488
+2%
|
492
+1%
|
501
+2%
|
509
+2%
|
521
+2%
|
530
+2%
|
536
+1%
|
536
+0%
|
537
+0%
|
545
+1%
|
549
+1%
|
550
+0%
|
547
-1%
|
531
-3%
|
516
-3%
|
509
-1%
|
505
-1%
|
506
+0%
|
513
+1%
|
521
+2%
|
528
+1%
|
527
0%
|
522
-1%
|
507
-3%
|
487
-4%
|
473
-3%
|
459
-3%
|
461
+1%
|
450
-2%
|
435
-3%
|
419
-4%
|
392
-7%
|
380
-3%
|
376
-1%
|
373
-1%
|
370
-1%
|
363
-2%
|
349
-4%
|
336
-4%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(167)
|
(176)
|
(179)
|
(184)
|
(188)
|
(191)
|
(195)
|
(200)
|
(203)
|
(205)
|
(208)
|
(210)
|
(213)
|
(215)
|
(216)
|
(211)
|
(205)
|
(203)
|
(202)
|
(204)
|
(209)
|
(213)
|
(216)
|
(215)
|
(212)
|
(206)
|
(200)
|
(194)
|
(190)
|
(197)
|
(191)
|
(187)
|
(182)
|
(167)
|
(164)
|
(163)
|
(163)
|
(163)
|
(162)
|
(158)
|
(152)
|
|
Gross Profit |
297
N/A
|
303
+2%
|
308
+2%
|
308
N/A
|
313
+2%
|
319
+2%
|
325
+2%
|
330
+1%
|
332
+1%
|
331
0%
|
330
0%
|
335
+2%
|
336
+0%
|
335
0%
|
331
-1%
|
319
-3%
|
311
-3%
|
306
-2%
|
303
-1%
|
302
0%
|
304
+1%
|
308
+1%
|
313
+1%
|
312
0%
|
310
-1%
|
301
-3%
|
287
-4%
|
279
-3%
|
269
-4%
|
264
-2%
|
259
-2%
|
247
-5%
|
238
-4%
|
225
-5%
|
215
-4%
|
213
-1%
|
210
-1%
|
207
-2%
|
201
-3%
|
191
-5%
|
184
-4%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
19
|
18
|
18
|
18
|
(10)
|
(11)
|
(11)
|
(11)
|
(12)
|
(12)
|
(13)
|
(13)
|
(13)
|
(13)
|
(13)
|
(14)
|
(14)
|
(16)
|
(16)
|
(16)
|
(15)
|
(12)
|
(13)
|
(15)
|
(16)
|
(13)
|
(11)
|
(12)
|
(16)
|
(19)
|
(20)
|
(17)
|
(13)
|
(12)
|
(11)
|
(11)
|
(10)
|
(8)
|
(8)
|
(8)
|
(8)
|
|
Selling, General & Administrative |
(9)
|
(9)
|
(10)
|
(10)
|
(10)
|
(10)
|
(11)
|
(11)
|
(11)
|
(12)
|
(13)
|
(13)
|
(13)
|
(13)
|
(13)
|
(13)
|
(13)
|
(16)
|
(16)
|
(16)
|
(14)
|
(12)
|
(13)
|
(15)
|
(15)
|
(13)
|
(11)
|
(12)
|
(15)
|
(19)
|
(20)
|
(17)
|
(11)
|
(12)
|
(11)
|
(11)
|
(10)
|
(8)
|
(8)
|
(8)
|
(7)
|
|
Depreciation & Amortization |
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
(1)
|
(0)
|
0
|
0
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
|
Other Operating Expenses |
28
|
28
|
28
|
28
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
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 |
316
N/A
|
321
+2%
|
326
+2%
|
326
0%
|
303
-7%
|
308
+2%
|
314
+2%
|
319
+1%
|
321
+1%
|
319
-1%
|
317
-1%
|
322
+2%
|
323
+0%
|
321
-1%
|
318
-1%
|
306
-4%
|
297
-3%
|
290
-3%
|
287
-1%
|
286
0%
|
290
+1%
|
296
+2%
|
299
+1%
|
297
-1%
|
294
-1%
|
288
-2%
|
276
-4%
|
267
-3%
|
253
-5%
|
245
-3%
|
240
-2%
|
231
-4%
|
225
-2%
|
213
-6%
|
204
-4%
|
202
-1%
|
200
-1%
|
199
-1%
|
193
-3%
|
183
-5%
|
176
-4%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(90)
|
(144)
|
(169)
|
(161)
|
(102)
|
(151)
|
(156)
|
(240)
|
(494)
|
(441)
|
(464)
|
(370)
|
(205)
|
(165)
|
(155)
|
(155)
|
(62)
|
(75)
|
(35)
|
(74)
|
(124)
|
(160)
|
(219)
|
(198)
|
(169)
|
(300)
|
(254)
|
(244)
|
(213)
|
(23)
|
146
|
149
|
165
|
375
|
145
|
2
|
(191)
|
(485)
|
(548)
|
(571)
|
(514)
|
|
Non-Reccuring Items |
(6)
|
(4)
|
(2)
|
(2)
|
(3)
|
(3)
|
(1)
|
(2)
|
(2)
|
(2)
|
(3)
|
(2)
|
(1)
|
(1)
|
(0)
|
(1)
|
(1)
|
(7)
|
(7)
|
(6)
|
(6)
|
(1)
|
(1)
|
(1)
|
(0)
|
0
|
(0)
|
(0)
|
(17)
|
(17)
|
(17)
|
(17)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total Other Income |
(28)
|
(28)
|
(28)
|
(28)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
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 |
191
N/A
|
145
-24%
|
127
-12%
|
135
+6%
|
198
+47%
|
154
-22%
|
157
+2%
|
77
-51%
|
(176)
N/A
|
(124)
+30%
|
(150)
-21%
|
(50)
+67%
|
117
N/A
|
155
+33%
|
163
+5%
|
151
-7%
|
234
+56%
|
208
-11%
|
245
+18%
|
206
-16%
|
159
-23%
|
134
-16%
|
79
-41%
|
98
+24%
|
125
+27%
|
(13)
N/A
|
22
N/A
|
23
+4%
|
22
-4%
|
205
+821%
|
368
+79%
|
362
-2%
|
390
+8%
|
587
+50%
|
349
-41%
|
204
-42%
|
9
-96%
|
(287)
N/A
|
(355)
-24%
|
(388)
-9%
|
(338)
+13%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
(0)
|
(0)
|
(1)
|
0
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(2)
|
(1)
|
(2)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(33)
|
(32)
|
(21)
|
(14)
|
21
|
24
|
15
|
6
|
|
Income from Continuing Operations |
191
|
145
|
127
|
135
|
198
|
154
|
157
|
77
|
(176)
|
(124)
|
(150)
|
(50)
|
116
|
154
|
162
|
150
|
234
|
208
|
245
|
206
|
159
|
133
|
78
|
97
|
123
|
(14)
|
21
|
22
|
22
|
205
|
367
|
361
|
389
|
554
|
318
|
183
|
(5)
|
(265)
|
(330)
|
(374)
|
(332)
|
|
Net Income (Common) |
177
N/A
|
128
-27%
|
110
-15%
|
117
+7%
|
180
+54%
|
136
-25%
|
139
+2%
|
59
-58%
|
(194)
N/A
|
(142)
+27%
|
(169)
-18%
|
(68)
+60%
|
98
N/A
|
136
+39%
|
144
+6%
|
132
-8%
|
216
+64%
|
189
-13%
|
224
+19%
|
184
-18%
|
137
-26%
|
112
-18%
|
57
-49%
|
76
+34%
|
103
+35%
|
(33)
N/A
|
3
N/A
|
5
+45%
|
4
-9%
|
187
+4 468%
|
350
+87%
|
344
-2%
|
372
+8%
|
537
+44%
|
301
-44%
|
166
-45%
|
(21)
N/A
|
(280)
-1 222%
|
(344)
-23%
|
(386)
-12%
|
(345)
+11%
|
|
EPS (Diluted) |
1.43
N/A
|
1
-30%
|
0.77
-23%
|
0.8
+4%
|
1.25
+56%
|
0.98
-22%
|
0.94
-4%
|
0.41
-56%
|
-1.41
N/A
|
-1
+29%
|
-1.19
-19%
|
-0.44
+63%
|
0.67
N/A
|
0.9
+34%
|
0.94
+4%
|
0.87
-7%
|
1.43
+64%
|
1.24
-13%
|
1.47
+19%
|
1.2
-18%
|
0.88
-27%
|
0.75
-15%
|
0.39
-48%
|
0.54
+38%
|
0.72
+33%
|
-0.25
N/A
|
0.01
N/A
|
0.03
+200%
|
0.02
-33%
|
1.39
+6 850%
|
3.1
+123%
|
3.15
+2%
|
2.86
-9%
|
4.38
+53%
|
2.53
-42%
|
1.43
-43%
|
-0.18
N/A
|
-2.41
-1 239%
|
-3.05
-27%
|
-3.53
-16%
|
-3.1
+12%
|