Income Statement Castleview Property Fund Limited

Stocks

CVW

ZAE000251633

Commercial REITs

End-of-day quote Johannesburg S.E. 2026-09-04			5-day change	1st Jan Change
10.40 ^ZAR	0.00%		0.00%	+9.01%

06-25	Castleview Property Fund Limited Reports Earnings Results for the Full Year Ended March 31, 2026	CI
06-19	Castleview Expects Final Dividend for the Year Ended 31 March 2026	CI

29d7737aa5fbc9a4e6ed7e518.eI3OujSGkrPbCKE3Njq2vjzWqptJAbFEoJ2HmPzOBG8.KPf59Xjz2MKyYs5ERmz86Gi-7-E5d-An4dzq7M3-XF4iyYbbZtnEyu5DlQ

Published financial data: CASTLEVIEW PROPERTY FUND LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2022 (ZAR)	2023 (ZAR)	2024 (ZAR)	2025 (ZAR)	2026 (ZAR)
Rental Revenues	57.62M	866M	1.53B	1.52B	1.35B
Tenant Reimbursements	-	283M	551M	520M	531M
Other Revenues, Total	-	458M	391M	528M	709M
Total Revenues	57.62M	1.61B	2.48B	2.56B	2.59B
Property Expenses	4.22M	507M	945M	1.1B	1.03B
Selling General & Admin Expenses, Total	11M	107M	171M	183M	222M
Depreciation & Amortization - (IS) - (Collected)	-	-	-	-	-
Provision For Loan Losses - (Ins. / REIT / Utility Templates)	-	-63.19M	-301M	-29.35M	-35.1M
Other Operating Expenses	12.59M	13.06M	55.25M	-12.03M	8.8M
Total Operating Expenses	27.81M	690M	1.47B	1.3B	1.3B
Operating Income (REIT / Utility Template)	29.81M	918M	1B	1.27B	1.29B
Interest Expense, Total	-10.66M	-554M	-1.04B	-1.13B	-956M
Interest and Investment Income	28.72K	74.69M	50.32M	294M	106M
Net Interest Expenses	-10.63M	-479M	-992M	-835M	-849M
Currency Exchange Gains (Loss)	-	-	-	61.12M	117M
Other Non Operating Income (Expenses)	-	-48.93M	-36.3M	1.4B	268M
EBT, Excl. Unusual Items	19.18M	390M	-23.82M	1.89B	831M
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) on Sale of Investments	-	-20.53M	-38.47M	-	-
Asset Writedown	-582K	69.79M	338M	493M	197M
Other Unusual Items	-	1.58B	16.69M	-	894M
EBT, Incl. Unusual Items	18.6M	2.02B	293M	2.38B	1.92B
Income Tax Expense	-	-25.66M	-11.67M	168M	67.82M
Earnings From Continuing Operations	18.6M	2.05B	304M	2.22B	1.85B
Net Income to Company	18.6M	2.05B	304M	2.22B	1.85B
Minority Interest	-	-267M	-240M	-843M	-310M
Net Income - (IS)	18.6M	1.78B	64.91M	1.37B	1.54B
Net Income to Common Incl Extra Items	18.6M	1.78B	64.91M	1.37B	1.54B
Net Income to Common Excl. Extra Items	18.6M	1.78B	64.91M	1.37B	1.54B
Per Share Items
Net EPS - Basic	0.51	3.17	0.07	1.39	1.54
Basic EPS - Continuing Operations	0.51	3.17	0.07	1.39	1.54
Basic Weighted Average Shares Outstanding	36.77M	561M	982M	984M	1B
Net EPS - Diluted	0.51	3.14	0.07	1.39	1.54
Diluted EPS - Continuing Operations	0.51	3.14	0.07	1.39	1.54
Diluted Weighted Average Shares Outstanding	36.77M	567M	982M	984M	1B
Normalized Basic EPS	0.33	-0.04	-0.26	0.34	0.21
Normalized Diluted EPS	0.33	-0.04	-0.26	0.34	0.21
Dividend Per Share	0.45	0.15	0.53	0.39	0.67
Payout Ratio	-	-	404.32	36.73	26.06
Supplemental Items
EBITDA	-	-	-	-	-
EBITA	29.81M	918M	1B	1.27B	1.29B
EBIT	29.81M	918M	1B	1.27B	1.29B
EBITDAR	-	-	-	-	-
Total Revenues (As Reported)	-	1.15B	2.09B	2.04B	1.88B
Effective Tax Rate - (Ratio)	-	-1.27	-3.98	7.07	3.53
Current Domestic Taxes	-	-625K	-	2.33M	7.61M
Current Foreign Taxes	-	10.15K	-	12.15M	-
Total Current Taxes	-	-615K	-	14.48M	7.61M
Total Deferred Taxes	-	-25.04M	-11.67M	154M	-35.29M
Normalized Net Income	11.99M	-23.12M	-254M	339M	209M
Interest Capitalized	-	-	34.57M	48.09M	29.94M
Interest on Long-Term Debt	11.22M	-	-	-	-
Supplemental Operating Expense Items
General and Administrative Expenses	4.5M	107M	171M	183M	222M
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Maintenance & Repair Expenses, Total	2.33M	-	-	-	-

Fiscal Period: March	2022 (ZAR)	2023 (ZAR)	2024 (ZAR)	2025 (ZAR)	2026 (ZAR)
Assets
Gross Property Plant And Equipment	-	-	-	-	-
Accumulated Depreciation	-	-	-	-	-
Net Property Plant And Equipment	358M	13.28B	10.94B	10.46B	9B
Total Real Estate Assets	358M	13.28B	10.94B	10.46B	9B
Cash And Equivalents	5.77M	201M	256M	453M	1.94B
Accounts Receivable, Total	1.35M	16.81M	20.52M	24.2M	14.08M
Other Receivables	403K	97.05M	90.13M	132M	97.45M
Investment In Debt and Equity Securities	3.76M	20.22M	-	3.86B	3.47B
Notes Receivable (Collected)	-	295M	77.46M	48.81M	35.72M
Other Current Assets, Total	2.11M	1.44B	3.13B	1.31B	1.72B
Trading Asset Securities, Total	-	9.9M	-	-	-
Deferred Tax Assets Long-Term (Collected)	-	191M	203M	211M	179M
Other Long-Term Assets, Total	-	6.53B	7.08B	7.11B	8.39B
Total Assets	372M	22.07B	21.81B	23.6B	24.85B
Liabilities
Current Portion of Long-Term Debt	-	2.69B	2.52B	1.13B	1.18B
Current Portion of Leases	-	4.88M	5.32M	5.51M	6.04M
Short-Term Borrowings	-	-	-	-	-
Long-Term Debt	192M	8.1B	8.2B	9.92B	10.29B
Long-Term Leases	-	73.24M	73.03M	70M	68.82M
Accounts Payable, Total	139K	28.48M	17M	25.35M	24.08M
Accrued Expenses, Total	-	254M	276M	217M	227M
Current Income Taxes Payable	-	-	-	-	-
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	7.53M	245M	247M	225M	213M
Deferred Tax Liability Non-Current	-	-	-	160M	80.15M
Other Non Current Liabilities	-	53.39M	32.42M	-	-
Total Liabilities	199M	11.45B	11.37B	11.75B	12.09B
Common Stock, Total	186M	5.94B	5.98B	5.98B	6.17B
Retained Earnings	-13.51M	1.89B	1.7B	2.55B	3.9B
Comprehensive Income and Other	-	542M	881M	861M	460M
Total Common Equity	172M	8.37B	8.56B	9.39B	10.54B
Minority Interest	-	2.25B	1.87B	2.45B	2.23B
Total Equity	172M	10.62B	10.43B	11.84B	12.76B
Total Liabilities And Equity	372M	22.07B	21.81B	23.6B	24.85B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	37.41M	978M	984M	984M	1.01B
ECS Total Common Shares Outstanding	37.41M	978M	984M	984M	1.01B
Book Value / Share	4.61	8.55	8.7	9.54	10.4
Tangible Book Value	172M	8.37B	8.56B	9.39B	10.54B
Tangible Book Value Per Share	4.61	8.55	8.7	9.54	10.4
Total Debt	192M	10.87B	10.8B	11.13B	11.54B
Net Debt	186M	10.67B	10.54B	10.67B	9.6B
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	-	2.25B	1.87B	2.45B	2.23B
Equity Method Investments, Total	-	6.4B	6.87B	6.87B	8.14B
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	-	18.02M	395M	240M	87.29M
Inventories - Work In Process, Total	-	55.69M	-	-	-
Inventories - Others	-	341M	53.74M	105M	82.02M
Machinery, Total	-	-	-	-	-
Assets on Operating Lease - Gross	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	2.58M	41.49M	49.52M	38.43M	29.64M

Fiscal Period: March	2022 (ZAR)	2023 (ZAR)	2024 (ZAR)	2025 (ZAR)	2026 (ZAR)
Net Income	18.6M	1.78B	64.91M	1.37B	1.54B
Depreciation, Depletion & Amortization	-	-	-	-	-
Total Depreciation, Depletion & Amortization	-	-	-	-	-
(Gain) Loss On Sale of Asset - (CF)	-	-51.24M	-12.56M	1.4B	114M
(Gain) Loss on Sale of Investments - (CF)	-1.79M	24.44M	102M	-22.66M	150M
Total Asset Writedown	582K	-49.26M	-338M	-3.24B	-764M
Provision for Credit Losses	-	63.19M	301M	32.77M	35.1M
(Income) Loss On Equity Investments - (CF)	-	-458M	-352M	-528M	-709M
Provision and Write-off of Bad Debts	-234K	-	-	-	-
Minority Interest in Earnings - (CF)	-	-290M	-192M	-218M	-224M
Change in Accounts Receivable	2.06M	-83.76M	8.87M	-48.54M	58.17M
Change In Inventories	-	-66.45M	-34.57M	104M	175M
Change in Accounts Payable	124K	138M	18.41M	-78.08M	-18.85M
Other Operating Activities	-652K	-1.34B	322M	929M	-594M
Cash from Operations	18.69M	-331M	-112M	-299M	-233M
Acquisition of Real Estate Assets, Total	-3.71M	-119M	-265M	-320M	-245M
Sale of Real Estate Assets, Total	-	432M	637M	2.92B	1.46B
Net Sale / Acquisition of Real Estate Assets	-3.71M	313M	372M	2.6B	1.22B
Cash Acquisitions	-	-69.9M	-	-	-
Investment in Marketable and Equity Securities, Total	-	237M	982M	-1.95B	253M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	4.69M	-144M	47.45M	65.87M
Cash from Investing	-3.71M	485M	1.21B	698M	1.54B
Long-Term Debt Issued, Total	33.87M	2.89B	5.91B	5.47B	5.38B
Total Debt Issued	33.87M	2.66B	5.91B	5.47B	5.38B
Long-Term Debt Repaid, Total	-44.88M	-3.09B	-6.18B	-5.05B	-4.79B
Total Debt Repaid	-44.88M	-2.85B	-6.18B	-5.05B	-4.79B
Issuance of Common Stock	-	399M	39.68M	-	196M
Repurchase of Common Stock	-	-	-24.49M	-13.83M	-155M
Common Dividends Paid	-	-	-262M	-504M	-402M
Common & Preferred Stock Dividends Paid	-	-	-262M	-504M	-402M
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-	-185M	-517M	-110M	-46.66M
Cash from Financing	-11.01M	25.88M	-1.04B	-202M	185M
Net Change in Cash	3.96M	180M	55.19M	196M	1.49B
Supplemental Items
Cash Interest Paid	10.57M	487M	975M	1.16B	984M
Cash Income Tax Paid (Refund)	-	541K	-28K	12.32M	101M
Net Debt Issued / Repaid	-11.01M	-188M	-278M	425M	593M
Levered Free Cash Flow	13.16M	-707M	-1.48B	1.82B	-152M
Unlevered Free Cash Flow	19.82M	-384M	-827M	2.53B	446M
Change In Net Working Capital	-1.19M	929M	1.46B	-1.74B	364M

Fiscal Period: March	2022 (ZAR)	2023 (ZAR)	2024 (ZAR)	2025 (ZAR)	2026 (ZAR)
Profitability
Return on Assets	5.34	4.85	2.86	3.49	3.34
Return on Total Capital	5.46	5	2.94	3.59	3.42
Return On Equity %	11.39	39.17	2.89	19.89	15.07
Return on Common Equity	11.4	45.06	0.77	15.3	15.49
Margin Analysis
Gross Profit Margin %	92.67	64.55	49.7	56.13	58.8
SG&A Margin	19.1	6.64	6.9	7.13	8.55
EBITDA Margin %	-	-	-	-	-
EBITA Margin %	51.73	57.1	40.57	49.47	49.91
EBIT Margin %	51.73	57.1	40.57	49.47	49.91
Income From Continuing Operations Margin %	32.27	127.31	12.3	86.4	71.44
Net Income Margin %	32.27	110.71	2.62	53.54	59.5
Net Avail. For Common Margin %	32.27	110.71	2.62	53.54	59.5
Normalized Net Income Margin	20.8	-1.44	-10.28	13.23	8.07
Levered Free Cash Flow Margin	22.84	-47.71	-59.73	71.1	-5.85
Unlevered Free Cash Flow Margin	34.4	-25.9	-33.42	98.63	17.18
Asset Turnover
Asset Turnover	0.17	0.13	0.11	0.11	0.11
Fixed Assets Turnover	0.17	0.21	0.2	0.24	0.27
Receivables Turnover (Average Receivables)	41.38	18.47	111.73	91.06	98.5
Inventory Turnover (Average Inventory)	-	-	2.89	2.84	4.16
Short Term Liquidity
Current Ratio	1.26	0.64	1.16	1.22	2.32
Quick Ratio	0.98	0.1	0.12	0.38	1.25
Operating Cash Flow to Current Liabilities	2.44	-0.1	-0.04	-0.19	-0.14
Days Sales Outstanding (Average Receivables)	8.82	19.76	3.28	4.01	3.71
Days Outstanding Inventory (Average Inventory)	-	-	126.83	128.73	87.77
Average Days Payable Outstanding	26.39	-	6.5	7.57	10.1
Cash Conversion Cycle (Average Days)	-	-	123.6	125.17	81.38
Long Term Solvency
Total Debt/Equity	111.17	102.36	103.51	93.94	90.46
Total Debt / Total Capital	52.64	50.58	50.86	48.44	47.5
LT Debt/Equity	111.17	76.96	79.26	84.31	81.2
Long-Term Debt / Total Capital	52.64	38.03	38.95	43.48	42.63
Total Liabilities / Total Assets	53.62	51.88	52.15	49.81	48.65
EBIT / Interest Expense	2.8	1.66	0.96	1.12	1.35
EBITDA / Interest Expense	-	-	-	-	-
(EBITDA - Capex) / Interest Expense	-	-	-	-	-
Total Debt / EBITDA	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-
Total Debt / (EBITDA - Capex)	-	-	-	-	-
Net Debt / (EBITDA - Capex)	-	-	-	-	-
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	16.14	2.47K	53.98	3.56	1.17
Gross Profit, 1 Yr. Growth %	15.74	2.47K	18.56	16.94	3.98
EBITDA, 1 Yr. Growth %	-	-	-	-	-
EBITA, 1 Yr. Growth %	13.66	2.83K	9.41	26.27	2.08
EBIT, 1 Yr. Growth %	13.66	2.83K	9.41	26.27	2.08
Earnings From Cont. Operations, 1 Yr. Growth %	-183.5	11.2K	-85.13	627.61	-16.34
Net Income, 1 Yr. Growth %	-183.58	9.91K	-96.35	2.02K	12.42
Diluted EPS Before Extra, 1 Yr. Growth %	-179.24	664.3	-97.89	2.02K	10.29
Normalized Net Income, 1 Yr. Growth %	23.11	-533.4	1K	-233.34	-38.32
Net Property, Plant and Equip., 1 Yr. Growth %	13.2	3.65K	-17.58	-4.43	-13.93
Inventory, 1 Yr. Growth %	-	-	8.34	-23.2	-50.89
Accounts Receivable, 1 Yr. Growth %	-5.79	4.57K	22.08	17.92	-41.83
Total Assets, 1 Yr. Growth %	14.28	5.85K	-1.2	8.22	5.3
Common Equity, 1 Yr. Growth %	12.09	4.59K	2.3	9.71	12.19
Tangible Book Value, 1 Yr. Growth %	12.09	4.59K	2.3	9.71	12.19
Cash From Operations, 1 Yr. Growth %	50.75	-1.01K	-66.21	167.96	-22.25
Levered Free Cash Flow, 1 Yr. Growth %	128.12	-5.47K	-	-223.28	-108.01
Unlevered Free Cash Flow, 1 Yr. Growth %	59.07	-2.03K	-	-405.67	-82.38
Dividend Per Share, 1 Yr. Growth %	68.2	-	255.68	-26.99	74.07
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	12.54	446.35	-	26.28	2.36
Gross Profit, 2 Yr. CAGR %	12.28	466.57	-	17.75	11.33
EBITDA, 2 Yr. CAGR %	-	-	-	-	-
EBITA, 2 Yr. CAGR %	3.06	476.91	-	17.54	13.53
EBIT, 2 Yr. CAGR %	3.06	476.91	-	17.54	13.53
Earnings From Cont. Operations, 2 Yr. CAGR %	-4.6	871.27	-	4.03	146.72
Net Income, 2 Yr. CAGR %	-4.54	814.69	-	-12.18	387.66
Diluted EPS Before Extra, 2 Yr. CAGR %	-9.22	146.11	-	-33.33	383.02
Normalized Net Income, 2 Yr. CAGR %	21.8	130.99	-	283.1	-9.32
Net Property, Plant and Equip., 2 Yr. CAGR %	1.85	551.7	-	-11.25	-9.31
Inventory, 2 Yr. CAGR %	-	-	-	-8.78	-38.58
Accounts Receivable, 2 Yr. CAGR %	3.72	793.31	-	19.98	-17.18
Total Assets, 2 Yr. CAGR %	2.73	724.44	-	3.41	6.75
Common Equity, 2 Yr. CAGR %	-1.04	625.17	-	5.94	10.94
Tangible Book Value, 2 Yr. CAGR %	-1.04	625.17	-	5.94	10.94
Cash From Operations, 2 Yr. CAGR %	7.89	269.75	-	-4.84	44.34
Levered Free Cash Flow, 2 Yr. CAGR %	34.08	1.01K	-	-	-67.96
Unlevered Free Cash Flow, 2 Yr. CAGR %	8.6	454.77	-	-	-26.61
Dividend Per Share, 2 Yr. CAGR %	18.15	-	-	61.14	12.73
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	12.95	219.3	-	-	17.28
Gross Profit, 3 Yr. CAGR %	13.83	226.98	-	-	13.69
EBITDA, 3 Yr. CAGR %	-	-	-	-	-
EBITA, 3 Yr. CAGR %	7.21	214.48	-	-	12.14
EBIT, 3 Yr. CAGR %	7.21	214.48	-	-	12.14
Earnings From Cont. Operations, 3 Yr. CAGR %	22.3	368.5	-	-	-3.26
Net Income, 3 Yr. CAGR %	22.33	350.17	-	-	-4.64
Diluted EPS Before Extra, 3 Yr. CAGR %	18	84.68	-	-	-21.15
Normalized Net Income, 3 Yr. CAGR %	24.72	85.95	-	-	108.41
Net Property, Plant and Equip., 3 Yr. CAGR %	4.4	238.89	-	-	-12.15
Inventory, 3 Yr. CAGR %	-	-	-	-	-25.79
Accounts Receivable, 3 Yr. CAGR %	-5.54	349.99	-	-	-5.75
Total Assets, 3 Yr. CAGR %	4.89	297.42	-	-	4.03
Common Equity, 3 Yr. CAGR %	0.95	258.15	-	-	7.98
Tangible Book Value, 3 Yr. CAGR %	0.95	258.15	-	-	7.98
Cash From Operations, 3 Yr. CAGR %	9.64	119.37	-	-	-11.04
Levered Free Cash Flow, 3 Yr. CAGR %	53.66	358.68	-	-	-
Unlevered Free Cash Flow, 3 Yr. CAGR %	15.36	183.63	-	-	-
Dividend Per Share, 3 Yr. CAGR %	6.32	-	-	-	65.34
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	123.25	-	-	-
Gross Profit, 5 Yr. CAGR %	-	125.67	-	-	-
EBITA, 5 Yr. CAGR %	-	120.88	-	-	-
EBIT, 5 Yr. CAGR %	-	120.88	-	-	-
Earnings From Cont. Operations, 5 Yr. CAGR %	-	225.23	-	-	-
Net Income, 5 Yr. CAGR %	-	217.51	-	-	-
Diluted EPS Before Extra, 5 Yr. CAGR %	-	81.83	-	-	-
Normalized Net Income, 5 Yr. CAGR %	-	103.43	-	-	-
Net Property, Plant and Equip., 5 Yr. CAGR %	-	111.78	-	-	-
Accounts Receivable, 5 Yr. CAGR %	-	160.22	-	-	-
Total Assets, 5 Yr. CAGR %	-	126.17	-	-	-
Common Equity, 5 Yr. CAGR %	-	116.82	-	-	-
Tangible Book Value, 5 Yr. CAGR %	-	116.82	-	-	-
Cash From Operations, 5 Yr. CAGR %	-	90.03	-	-	-