SGP FINANCIAL STATEMENTS

Stockland — balance sheet, income statement and cash flow trends

SGPStockland

🇦🇺 Australia · AU · Real Estate · REIT - Diversified

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q2 2025 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue3.4 B A$+26.8%

Gross Profit1.5 B A$+91.1%

Operating Income765 M A$-2.9%

EBITDA894 M A$+12.7%

Net Income873 M A$+262.2%

Peer Comparison· REIT - Diversified

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
SGP	10.5%	44.7%	26.6%	25.9%
BNL	6.2%	24.1%	86.2%	27.4%
WPC	24.5%	68.2%	70.3%	26.0%
CRR-UN	5.4%	65.7%	62.5%	23.7%
TRGYO	-1.9%	74.0%	80.0%	51.7%
HR-UN	-2.4%	61.8%	-101.3%	-97.6%
Industry median	5.9%	60.1%	62.5%	25.5%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
SGP	10.5%	44.7%	26.6%	25.9%
GPT	10.5%	71.7%	120.4%	95.3%
CHC	18.7%	111.2%	82.9%	79.7%
MGR	-9.8%	22.2%	26.1%	14.7%
CLW	—	—	—	—
GMG	-50.0%	61.8%	144.5%	117.4%
Industry median	5.9%	60.1%	62.5%	25.5%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q2 2025

Equity10.3 B A$55%
Current Liabilities1.4 B A$7%
Long-term Liabilities7.1 B A$38%

Key Figures

YoY change

Total Assets18.8 B A$+7.1%

Total Liabilities8.4 B A$+13.2%

Total Equity10.3 B A$+2.7%

Cash & ST Investments470 M A$-36.6%

Total Debt5.7 B A$+7.4%

Net Debt5.3 B A$+15.5%

Peer Comparison· REIT - Diversified

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
SGP	1.00	54.8%	5.82	55.1%
BNL	304.89	92.6%	-5.69	49.5%
WPC	0.68	106.1%	6.17	45.8%
CRR-UN	0.08	137.1%	7.96	40.7%
TRGYO	3.39	8.2%	-0.45	77.7%
HR-UN	0.53	62.0%	-3.08	50.5%
Industry median	1.95	22.5%	0.88	67.9%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
SGP	1.00	54.8%	5.82	55.1%
GPT	0.33	52.3%	4.40	62.8%
CHC	50.91	17.1%	0.47	80.3%
MGR	106.00	43.7%	5.68	63.4%
CLW	0.48	55.2%	—	62.4%
GMG	289.80	17.8%	0.60	78.3%
Industry median	1.95	22.5%	0.88	67.9%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q2 2025 · TTM

Key Figures

YoY change

Operating Cash Flow200 M A$—

Capital Expenditures4 M A$-63.6%

Free Cash Flow198 M A$—

Dividends Paid-419 M A$-186.4%

Peer Comparison· REIT - Diversified

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
SGP	5.9%	5.9%	0.1%	22.9%
BNL	64.9%	61.3%	3.6%	237.1%
WPC	65.1%	55.1%	9.9%	250.0%
CRR-UN	45.2%	45.1%	0.1%	190.8%
TRGYO	96.9%	-25.1%	0.0%	187.6%
HR-UN	21.3%	17.0%	4.7%	-21.9%
Industry median	33.1%	8.5%	1.1%	41.8%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
SGP	5.9%	5.9%	0.1%	22.9%
GPT	60.4%	58.4%	2.0%	63.4%
CHC	52.0%	51.6%	0.4%	65.2%
MGR	24.7%	24.7%	0.0%	168.1%
CLW	—	—	—	—
GMG	84.1%	81.1%	3.0%	71.6%
Industry median	33.1%	8.5%	1.1%	41.8%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 6, 26. This content is for informational purposes only and is not investment advice.