Income Statement Public Property Invest ASA

Equities

PUBLI

NO0013178616

Real Estate Development & Operations

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Published financial data: PUBLIC PROPERTY INVEST ASA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024
Rental Revenues	67.9M	505M	575M	662M
Other Revenues, Total	-	-	1M	-
Total Revenues	67.9M	505M	576M	662M
Property Expenses	1.2M	25.59M	75M	67M
Selling General & Admin Expenses, Total	-	-	31M	74M
Depreciation & Amortization - (IS) - (Collected)	21.87M	211M	-	-
Other Operating Expenses	10.32M	72.82M	-	-3M
Total Operating Expenses	33.39M	309M	106M	138M
Operating Income (REIT / Utility Template)	34.51M	196M	470M	524M
Interest Expense, Total	-52.55M	-226M	-278M	-317M
Interest and Investment Income	119K	2.16M	6M	55M
Net Interest Expenses	-52.43M	-224M	-272M	-262M
Currency Exchange Gains (Loss)	-	-	-	-8M
Other Non Operating Income (Expenses)	-333K	155K	-24M	-41M
EBT, Excl. Unusual Items	-18.26M	-27.99M	174M	213M
Asset Writedown	-	-188M	-1.14B	-34M
Other Unusual Items	-	-	-	-107M
EBT, Incl. Unusual Items	-18.26M	-216M	-969M	72M
Income Tax Expense	-4.09M	-47.58M	-69M	59M
Earnings From Continuing Operations	-14.17M	-168M	-900M	13M
Net Income to Company	-14.17M	-168M	-900M	13M
Minority Interest	-	-	-	-3M
Net Income - (IS)	-14.17M	-168M	-900M	10M
Net Income to Common Incl Extra Items	-14.17M	-168M	-900M	10M
Net Income to Common Excl. Extra Items	-14.17M	-168M	-900M	10M
Per Share Items
Net EPS - Basic	-0.3	-2.34	-12.51	0.06
Basic EPS - Continuing Operations	-0.3	-2.34	-12.51	0.06
Basic Weighted Average Shares Outstanding	47.31M	71.93M	71.93M	167M
Net EPS - Diluted	-0.3	-2.34	-12.51	0.06
Diluted EPS - Continuing Operations	-0.3	-2.34	-12.51	0.06
Diluted Weighted Average Shares Outstanding	47.31M	71.93M	71.93M	167M
Normalized Basic EPS	-0.24	-0.24	1.51	0.78
Normalized Diluted EPS	-0.24	-0.24	1.51	0.78
Dividend Per Share	-	-	-	0.5
Supplemental Items
EBITDA	56.38M	407M	681M	-
EBITA	34.51M	196M	470M	524M
EBIT	34.51M	196M	470M	524M
Total Revenues (As Reported)	68.58M	506M	576M	665M
Effective Tax Rate - (Ratio)	22.39	22.04	7.12	81.94
Total Deferred Taxes	-4.09M	-47.58M	-69M	59M
Normalized Net Income	-11.41M	-17.49M	109M	130M
Interest Capitalized	-	-	-	41M
Interest on Long-Term Debt	38.42M	132M	9M	-
Supplemental Operating Expense Items
General and Administrative Expenses	-	-	31M	74M
Maintenance & Repair Expenses, Total	1.2M	25.59M	38M	27M

Fiscal Period: December	2021	2022	2023	2024
Assets
Gross Property Plant And Equipment	8.48B	10.8B	-	-
Accumulated Depreciation	-21.87M	-233M	-	-
Net Property Plant And Equipment	8.46B	10.57B	8.34B	10.92B
Total Real Estate Assets	8.46B	10.57B	8.34B	10.92B
Cash And Equivalents	202M	177M	123M	968M
Accounts Receivable, Total	5.98M	12.58M	5M	4M
Other Receivables	12.35M	20.06M	15M	-
Investment In Debt and Equity Securities	20.6K	-	37M	7M
Other Current Assets, Total	294M	-	-	30M
Other Long-Term Assets, Total	7.53M	6.6M	6M	7M
Total Assets	8.98B	10.79B	8.52B	11.93B
Liabilities
Current Portion of Long-Term Debt	290M	-	2.15B	211M
Long-Term Debt	4.42B	5.69B	3.39B	5.75B
Long-Term Leases	-	-	-	35M
Accounts Payable, Total	150M	20.56M	17M	23M
Accrued Expenses, Total	37.76M	23.53M	1M	4M
Current Income Taxes Payable	227K	-	-	2M
Unearned Revenue, Current	11.4M	-	-	-
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	178M	41.89M	26M	51M
Deferred Tax Liability Non-Current	981M	1.54B	66M	101M
Other Non Current Liabilities	154M	39.95M	23M	37M
Total Liabilities	6.22B	7.36B	5.67B	6.22B
Common Stock, Total	2.37M	3.6M	4M	11M
Additional Paid In Capital	2.32B	3.59B	3.59B	6.42B
Retained Earnings	-2.78M	-170M	-745M	-734M
Comprehensive Income and Other	379M	-	-	-
Total Common Equity	2.7B	3.42B	2.85B	5.7B
Minority Interest	63.8M	-	-	19M
Total Equity	2.76B	3.42B	2.85B	5.72B
Total Liabilities And Equity	8.98B	10.79B	8.52B	11.93B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	47.31M	71.93M	71.93M	215M
ECS Total Common Shares Outstanding	47.31M	71.93M	71.93M	215M
Book Value / Share	57.04	47.61	39.62	26.48
Tangible Book Value	2.7B	3.42B	2.85B	5.7B
Tangible Book Value Per Share	57.04	47.61	39.62	26.48
Total Debt	4.71B	5.69B	5.54B	6B
Net Debt	4.51B	5.52B	5.42B	5.03B
Minority Interest, Total (Incl. Fin. Div)	63.8M	-	-	19M
Account Code - Inventory Valuation	3	3	3	3
Land - (BS)	999M	1.32B	-	-
Buildings, Total	7.01B	8.99B	-	-
Machinery, Total	462M	466M	-	-
Full Time Employees	1	1	1	15

Fiscal Period: December	2021	2022	2023	2024
Net Income	-14.17M	-168M	-900M	10M
Depreciation, Depletion & Amortization	21.87M	211M	-	-
Total Depreciation, Depletion & Amortization	21.87M	211M	-	-
Total Asset Writedown	-	188M	1.14B	34M
Change in Other Net Operating Assets (Collected)	79.08M	-81.37M	-33M	34M
Other Operating Activities	-4.09M	-27.72M	227M	389M
Cash from Operations	82.7M	121M	437M	467M
Acquisition of Real Estate Assets, Total	-4.02B	-1.88B	-32M	-286M
Net Sale / Acquisition of Real Estate Assets	-4.02B	-1.88B	-32M	-286M
Investment in Marketable and Equity Securities, Total	-	-	-	-1M
Other Investing Activities, Total	-	-	6M	27M
Cash from Investing	-4.02B	-1.88B	-26M	-260M
Long-Term Debt Issued, Total	2.42B	1.27B	616M	6.71B
Total Debt Issued	2.42B	1.27B	616M	6.71B
Long-Term Debt Repaid, Total	-	-290M	-828M	-7.27B
Total Debt Repaid	-	-290M	-828M	-7.27B
Issuance of Common Stock	1.79B	868M	-	1.52B
Repurchase of Common Stock	-33.43K	-	-	-
Other Financing Activities, Total	-72.65M	-122M	-254M	-361M
Cash from Financing	4.14B	1.73B	-466M	602M
Foreign Exchange Rate Adjustments	-	-	-	37M
Miscellaneous Cash Flow Adjustments	-	-	1M	-1M
Net Change in Cash	202M	-25.47M	-54M	845M
Supplemental Items
Cash Interest Paid	-	-	253M	279M
Cash Income Tax Paid (Refund)	-	227K	-	-
Net Debt Issued / Repaid	2.42B	984M	-212M	-560M
Levered Free Cash Flow	-	180M	90M	151M
Unlevered Free Cash Flow	-	321M	264M	350M
Change In Net Working Capital	-	11.89M	30M	-22M

Fiscal Period: December	2021	2022	2023	2024
Profitability
Return on Assets	-	1.24	3.23	3.2
Return on Total Capital	-	1.48	3.29	3.26
Return On Equity %	-	-5.44	-27.27	0.3
Return on Common Equity	-	-5.5	-27.27	0.23
Margin Analysis
Gross Profit Margin %	98.23	94.93	86.98	89.88
SG&A Margin	1.79	0.85	5.38	11.18
EBITDA Margin %	83.03	80.52	118.2	-
EBITA Margin %	50.82	38.78	81.6	79.15
EBIT Margin %	50.82	38.78	81.6	79.15
Income From Continuing Operations Margin %	-20.87	-33.32	-156.25	1.96
Net Income Margin %	-20.87	-33.32	-156.25	1.51
Net Avail. For Common Margin %	-20.87	-33.32	-156.25	1.51
Normalized Net Income Margin	-16.81	-3.46	18.88	19.66
Levered Free Cash Flow Margin	-	35.63	15.62	22.87
Unlevered Free Cash Flow Margin	-	63.62	45.79	52.79
Asset Turnover
Asset Turnover	-	0.05	0.06	0.06
Fixed Assets Turnover	-	0.05	0.06	0.07
Receivables Turnover (Average Receivables)	-	54.43	63.89	147.11
Short Term Liquidity
Current Ratio	0.77	2.43	0.07	3.44
Quick Ratio	0.33	2.43	0.07	3.34
Operating Cash Flow to Current Liabilities	0.12	1.41	0.2	1.6
Days Sales Outstanding (Average Receivables)	-	6.71	5.71	2.49
Average Days Payable Outstanding	-	1.22K	92.47	109.25
Long Term Solvency
Total Debt/Equity	170.47	166.25	194.35	104.95
Total Debt / Total Capital	63.03	62.44	66.03	51.21
LT Debt/Equity	159.97	166.25	118.84	101.26
Long-Term Debt / Total Capital	59.14	62.44	40.37	49.41
Total Liabilities / Total Assets	69.25	68.25	66.56	52.1
EBIT / Interest Expense	0.66	0.87	1.69	1.65
EBITDA / Interest Expense	1.07	1.8	2.45	-
(EBITDA - Capex) / Interest Expense	1.07	1.8	2.45	-
Total Debt / EBITDA	83.51	14	8.14	-
Net Debt / EBITDA	79.93	13.57	7.96	-
Total Debt / (EBITDA - Capex)	83.51	14	8.14	-
Net Debt / (EBITDA - Capex)	79.93	13.57	7.96	-
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	643.89	14.51	15.13
Gross Profit, 1 Yr. Growth %	-	606.2	13.86	19
EBITDA, 1 Yr. Growth %	-	621.35	10.56	-
EBITA, 1 Yr. Growth %	-	467.64	16.05	11.73
EBIT, 1 Yr. Growth %	-	467.64	16.05	11.73
Earnings From Cont. Operations, 1 Yr. Growth %	-	1.09K	44.46	-101.44
Net Income, 1 Yr. Growth %	-	1.09K	44.46	-101.11
Diluted EPS Before Extra, 1 Yr. Growth %	-	680.95	32.87	-100.48
Normalized Net Income, 1 Yr. Growth %	-	53.3	-16.75	19.66
Net Property, Plant and Equip., 1 Yr. Growth %	-	24.94	-11.76	30.94
Accounts Receivable, 1 Yr. Growth %	-	110.25	-61.54	-20
Total Assets, 1 Yr. Growth %	-	20.09	-12.06	40
Common Equity, 1 Yr. Growth %	-	26.92	-24	99.86
Tangible Book Value, 1 Yr. Growth %	-	26.92	-24	99.86
Cash From Operations, 1 Yr. Growth %	-	46.68	35.71	6.86
Levered Free Cash Flow, 1 Yr. Growth %	-	-	-10.01	62.55
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	9.04	32.83
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	191.26	14.72
Gross Profit, 2 Yr. CAGR %	-	-	171.64	16.29
EBITDA, 2 Yr. CAGR %	-	-	247.5	-
EBITA, 2 Yr. CAGR %	-	-	269.06	13.75
EBIT, 2 Yr. CAGR %	-	-	269.06	13.75
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	696.93	-85.55
Net Income, 2 Yr. CAGR %	-	-	696.93	-87.33
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	546.28	-92.03
Normalized Net Income, 2 Yr. CAGR %	-	-	208.7	-0.19
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	-0.74	7.49
Accounts Receivable, 2 Yr. CAGR %	-	-	-8.57	-44.53
Total Assets, 2 Yr. CAGR %	-	-	-2.6	10.96
Common Equity, 2 Yr. CAGR %	-	-	2.78	23.24
Tangible Book Value, 2 Yr. CAGR %	-	-	2.78	23.24
Cash From Operations, 2 Yr. CAGR %	-	-	129.88	20.43
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-	23.03
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-	20.2
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	113.63
Gross Profit, 3 Yr. CAGR %	-	-	-	106.17
EBITA, 3 Yr. CAGR %	-	-	-	147.63
EBIT, 3 Yr. CAGR %	-	-	-	147.63
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-	-2.83
Net Income, 3 Yr. CAGR %	-	-	-	-10.97
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	-41.53
Normalized Net Income, 3 Yr. CAGR %	-	-	-	125.08
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	8.86
Accounts Receivable, 3 Yr. CAGR %	-	-	-	-12.55
Total Assets, 3 Yr. CAGR %	-	-	-	9.92
Common Equity, 3 Yr. CAGR %	-	-	-	28.28
Tangible Book Value, 3 Yr. CAGR %	-	-	-	28.28
Cash From Operations, 3 Yr. CAGR %	-	-	-	78.08