Financial Information

Summary Statement of Financial Position

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

(Unit: million won)

12th Period
(As of Dec 31, 2024)		 11th Period
(As of Jun 30, 2024)		 10th Period
(As of Dec 31, 2023)
Current Assets 40,918 47,614 47,216
Non Current Assets 2,582,730 2,254,208 2,266,435
Total Assets 2,623,649 2,301,822 2,313,651
Current Liabilities 470,628 644,454 685,432
Non Current Liabilities 983,523 619,299 572,758
Total Liabilities 1,454,151 1,263,753 1,258,190
Share Capital 144,484 121,484 121,484
Capital Surplus 1,179,576 1,060,935 1,060,935
Retained Earnings (154,563) (144,350) (126,958)
Total Equity 1,169,498 1,038,069 1,055,461

Summary Income Statement

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

(Unit: million won)

12th Period
(Jan 1, 2024 ~ Dec 31, 2024)		 11th Period
(Jan 1, 2024 ~ Jun 30, 2024)		 10th Period
(Jul 1, 2023 ~ Dec 31, 2023)
Operating Revenues 65,629 60,008 59,415
Operating Expenses 23,623 22,422 23,282
Operating Income 42,006 37,586 36,134
Non-operating Revenues 464 585 646
Non-operating Expenses 31,856 32,330 33,602
Net Income 10,614 5,841 3,178

Dividend Information

(Unit: million won)

12th Period
(Jan 1, 2024 ~ Dec 31, 2024)		 11th Period
(Jan 1, 2024 ~ Jun 30, 2024)		 10th Period
(Jul 1, 2023 ~ Dec 31, 2023)
Net Income 10,614 5,841 3,178
Depreciation Expenses
(Excess Dividend)		 17,551 19,227 20,056
Additional paid-in capital
transfer		 4,200 0 0
Total Dividends 32,365 25,068 23,234
Dividend per Share (won) 112 103 95
Dividend Payout Ratio 304.92% 429.14% 731.09%

※ 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: %)

12th Period
(Jan 1, 2024 ~ Dec 31, 2024)		 11th Period
(Jan 1, 2024 ~ Jun 30, 2024)		 10th Period
(Jul 1, 2023 ~ Dec 31, 2023)
Equity Dividend Yield 2.4% 1.9% 1.7%
Dividend Yield at market price 3.7% 3.1% 3.0%

※ 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)

12th Period
(Jan 1, 2024 ~ Dec 31, 2024)		 11th Period
(Jan 1, 2024 ~ Jun 30, 2024)		 10th Period
(Jul 1, 2023 ~ Dec 31, 2023)
P/NAV 0.47 0.47 0.47
P/FFO 29.2 31.7 33.0

※ 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
(Fifth(2nd))		 Korea Investors Service Regular AA- Stable June 21, 2024
NICE Investors Service Regular AA- Stable June 25, 2024
Secured Bond
(Sixth(1nd))		 Korea Investors Service Main AA- Stable Jul 09, 2024
NICE Investors Service Main AA- Stable Jul 10, 2024
Secured Bond
(Sixth(2nd))		 Korea Investors Service Main AA- Stable Jul 09, 2024
NICE Investors Service Main AA- Stable Jul 10, 2024
Secured Bond
(Seventh(1nd))		 Korea Investors Service Main AA- Stable Sep 23, 2024
NICE Investors Service Main AA- Stable Sep 24, 2024
Secured Bond
(Seventh(2nd))		 Korea Investors Service Main AA- Stable Sep 23, 2024
NICE Investors Service Main AA- Stable Sep 24, 2024
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