Below are the financial statements of Granite REIT, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of CAD | 2024 | 2023 |
|---|---|---|
| Rental revenue | 568.64a | 521.25a |
| Lease termination and close-out fees | 0.5a | 0a |
| Revenue | 569.14a | 521.25a |
| Property operating costs | -97.15a | -86.01a |
| Net operating income | 471.99a | 435.24a |
| General and administrative expenses | -38.91a | -41.44a |
| Depreciation and amortization | -1.29a | -1.27a |
| Interest income | -7.07a | -7.71a |
| Interest expense and other financing costs | -89.9a | -78.72a |
| Foreign exchange losses, net | -14.41a | -1.03a |
| Fair value (gains) losses on investment properties, net | -53.04a | 172.68a |
| Fair value (gains) losses on financial instruments, net | -5.17a | 17.3a |
| Loss on sale of investment properties | 0a | -1.51a |
| Income before income taxes | 392.76a | 129.01a |
| Income tax expense (recovery) | -30.87a | -9.49a |
| Net income | 361.88a | 138.5a |
| Net income attributable to: | — | — |
| Unitholders | 360.61a | 136.66a |
| Non-controlling interests | 1.27a | 1.83a |
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