Financial Information

Summary Statement of Financial Position

  • Period for the
    settlement of account
  • Half fiscal period for the
    settlement of account

(Unit: million won)

13th Period
(As of Jun 30, 2025)		 12th Period
(As of Dec 31, 2024)		 11th Period
(As of Jun 30, 2024)
Current Assets 57,761 40,918 47,614
Non Current Assets 2,554,183 2,582,730 2,254,208
Total Assets 2,611,944 2,623,649 2,301,822
Current Liabilities 358,735 470,628 644,454
Non Current Liabilities 1,099,529 983,523 619,299
Total Liabilities 1,458,264 1,454,151 1,263,753
Share Capital 144,484 144,484 121,484
Capital Surplus 1,179,576 1,179,576 1,060,935
Retained Earnings (170,380) (154,563) (144,350)
Total Equity 1,153,680 1,169,498 1,038,069

Summary Income Statement

  • Period for the
    settlement of account
  • Half fiscal period for the
    settlement of account

(Unit: million won)

13th Period
(Jan 1, 2025 ~ Jun 30, 2025)		 12th Period
(Jul 1, 2024 ~ Dec 31, 2024)		 11th Period
(Jan 1, 2024 ~ Jun 30, 2024)
Operating Revenues 69,954 65,629 60,008
Operating Expenses 24,730 23,623 22,422
Operating Income 45,224 42,006 37,586
Non-operating Revenues 1,270 464 585
Non-operating Expenses 29,947 31,856 32,330
Net Income 16,547 10,614 5,841

Dividend Information

(Unit: million won)

13th Period
(Jan 1, 2025 ~ Jun 30, 2025)		 12th Period
(Jul 1, 2024 ~ Dec 31, 2024)		 11th Period
(Jan 1, 2024 ~ Jun 30, 2024)
Net Income 16,547 10,614 5,841
Depreciation Expenses
(Excess Dividend)		 17,262 17,551 19,227
Additional paid-in capital
transfer		 0 4,200 0
Total Dividends 33,809 32,365 25,068
Dividend per Share (won) 117 112 103
Dividend Payout Ratio 204.32% 304.92% 429.14%

※ According to Article 28 (3) of the Real Estate Investment Company Act, a REIT may pay dividends in excess of its profits within the scope of the depreciation expenses for the relevant year
※ Total dividends incorporate additional paid-in capital transfer

Investment Index

(Unit: %)

13th Period
(Jan 1, 2025 ~ Jun 30, 2025)		 12th Period
(Jul 1, 2024 ~ Dec 31, 2024)		 11th Period
(Jan 1, 2024 ~ Jun 30, 2024)
Equity Dividend Yield 2.5% 2.4% 1.9%
Dividend Yield at market price 3.1% 3.7% 3.1%

※ Equity Dividend Yield: Dividends/Paid-in Capital at the end of each period
※ Dividend Yield at market price: Dividends/Market Capitalization (based on the closing price at the end of period)

(Unit: Ratio)

13th Period
(Jan 1, 2025 ~ Jun 30, 2025)		 12th Period
(Jul 1, 2024 ~ Dec 31, 2024)		 11th Period
(Jan 1, 2024 ~ Jun 30, 2024)
P/NAV 0.57 0.47 0.47
P/FFO 29.9 29.2 31.7

※ P/NAV: Market Capitalization (based on the closing price at the end of period)/(Appraised Value - Borrowings)
※ P/FFO: Market Capitalization (based on the closing price at the end of period)/(Net Income + Depreciation Expenses)

Credit Ratings

Category Rating Agency Rating Type Rating Out
look		 Date of Rating
Secured Bond
(Sixth(1nd))		 Korea Investors Service Regular AA- Stable Apr 7, 2025
NICE Investors Service Regular AA- Stable Apr 28, 2025
Secured Bond
(Sixth(2nd))		 Korea Investors Service Regular AA- Stable Apr 7, 2025
NICE Investors Service Regular AA- Stable Apr 28, 2025
Secured Bond
(Seventh(1nd))		 Korea Investors Service Regular AA- Stable Apr 7, 2025
NICE Investors Service Regular AA- Stable Apr 28, 2025
Secured Bond
(Seventh(2nd))		 Korea Investors Service Regular AA- Stable Apr 7, 2025
NICE Investors Service Regular AA- Stable Apr 28, 2025
Secured Bond
(Eighth)		 Korea Investors Service Main AA- Stable Apr 7, 2025
NICE Investors Service Main AA- Stable Apr 7, 2025
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