Financial highlights
As at December 31, 2019 (in billions of dollars)
| 102-6 | 102-7 | 102-45 |
| Financial highlights | 2019 | 2018* |
|---|---|---|
|
Real estate income |
3.4 |
3.3 |
|
Earnings before interest, taxes, depreciation and amortization (EBITDA) |
1.5 |
1.4 |
|
Current return |
0.8 |
0.7 |
|
Acquisitions and contributions |
4.1 |
7.2 |
|
Development projects / Fixed assets |
2.3 |
2.1 |
|
Dispositions and distributions |
5.2 |
7.3 |
|
Fair value
|
||
|
Real estate assets |
49.5 |
51.2 |
|
Real estate investments |
14.6 |
13.5 |
|
Third-party debt |
22.7 |
24.7 |
|
Shareholders’ equity |
41.9 |
40.7 |
|
Ratio
|
||
|
Debt ratio |
43%** |
45%*** |
*Adjusted as to be presented on a comparable basis.
** 41 % after the impact of the injection of $1 billion in capital on January 3, 2020.
*** 40 % after the impact of the injection of $2.5 billion in capital on January 3, 2019.
Returns as at December 31
| 2015 | 2016 | 2017 | 2018 | 2019 | Compound annual growth rate (5 years) |
|---|---|---|---|---|---|
|
13.1% |
10.3% |
8.1% |
7.8% |
-2.9% |
7.2% |
Breakdown by geography
As at December 31, 2019 (as per fair value)
Canada 31%
United States 42%
Europe 15%
Growth markets 9%
Other markets 3%
Breakdown by sector
As at December 31, 2019 (as per fair value)
Retail 22%
Office 23%
Residential 15%
Investment funds 10%
Shares and financing 13%
Industrial/logistics 13%
Hotels and other 4%
