Income Statement FIPP

Stocks

FIPP

FR0000038184

Real Estate Development & Operations

Market Closed - Euronext Paris 09:25:00 13/08/2026 pm IST			5-day change	1st Jan Change
0.1680 ^EUR	+10.53%		0.00%	+48.67%

26/04	FIPP S.A. Reports Earnings Results for the Full Year Ended December 31, 2025	CI
26/25/26	FIPP S.A. Reports Earnings Results for the Half Year Ended June 30, 2025	CI

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Published financial data: FIPP

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Rental Revenues	21.02L	18.1L	18.33L	22.52L	8L
Other Revenues, Total	-	-	-	-	-
Total Revenues	21.02L	18.1L	18.33L	22.52L	8L
Property Expenses	29.54L	27.67L	27.75L	30.67L	35.33L
Selling General & Admin Expenses, Total	9L	6L	7L	6L	6L
Depreciation & Amortization - (IS) - (Collected)	3L	2L	4L	6L	-2L
Other Operating Expenses	6L	13.31L	8L	8L	9L
Total Operating Expenses	47.38L	48.88L	46.46L	51.37L	48.29L
Operating Income (REIT / Utility Template)	-26.36L	-30.78L	-28.13L	-28.85L	-40.54L
Interest Expense, Total	-1L	-16T	-70T	-81T	-95T
Interest and Investment Income	-	1L	11T	-	-
Net Interest Expenses	-1L	97T	-59T	-81T	-95T
Currency Exchange Gains (Loss)	-15T	-	45T	1L	-1L
Other Non Operating Income (Expenses)	-94T	-60T	55T	-8T	-34T
EBT, Excl. Unusual Items	-28.6L	-30.41L	-27.72L	-28.55L	-43.17L
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) on Sale of Investments	23T	-	-	-	-
Gain (Loss) on Sale of Assets	14.94L	-67T	-	-	-
Asset Writedown	16.23L	11.64L	-5L	-15.97L	84.19L
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	3L	-19.44L	-32.29L	-44.52L	41.02L
Income Tax Expense	-	5L	37T	1L	2L
Earnings From Continuing Operations	3L	-24.43L	-32.66L	-45.99L	38.66L
Net Income to Company	3L	-24.43L	-32.66L	-45.99L	38.66L
Minority Interest	-8L	-3L	55T	3L	3L
Net Income - (IS)	-5L	-27.2L	-32.11L	-42.58L	41.34L
Net Income to Common Incl Extra Items	-5L	-27.2L	-32.11L	-42.58L	41.34L
Net Income to Common Excl. Extra Items	-5L	-27.2L	-32.11L	-42.58L	41.34L
Per Share Items
Net EPS - Basic	-0	-0.02	-0.03	-0.03	0.03
Basic EPS - Continuing Operations	-0	-0.02	-0.03	-0.03	0.03
Basic Weighted Average Shares Outstanding	12Cr	12Cr	12Cr	12Cr	12Cr
Net EPS - Diluted	-0	-0.02	-0.03	-0.03	0.03
Diluted EPS - Continuing Operations	-0	-0.02	-0.03	-0.03	0.03
Diluted Weighted Average Shares Outstanding	12Cr	12Cr	12Cr	12Cr	12Cr
Normalized Basic EPS	-0.02	-0.02	-0.01	-0.01	-0.02
Normalized Diluted EPS	-0.02	-0.02	-0.01	-0.01	-0.02
Supplemental Items
EBITDA	-26.06L	-30.74L	-28.11L	-8L	-35.54L
EBITA	-26.36L	-30.78L	-28.13L	-28.85L	-43.39L
EBIT	-26.36L	-30.78L	-28.13L	-28.85L	-40.54L
EBITDAR	-24.88L	-	-27.71L	-8L	-35.17L
Effective Tax Rate - (Ratio)	-	-25.67	-1.15	-3.3	5.75
Normalized Net Income	-25.92L	-21.78L	-16.78L	-14.43L	-24.3L
Interest on Long-Term Debt	11T	-	15T	14T	12T
Supplemental Operating Expense Items
Advertising Expense	-	-	-	-	-
General and Administrative Expenses	-	-	-	-	-
Net Rental Expense, Total	1L	-	40T	40T	37T
Imputed Operating Lease Interest Expense	20.36T	-	10.97T	18.27T	46.91T
Imputed Operating Lease Depreciation	97.64T	-	29.03T	21.73T	-9.91T

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Gross Property Plant And Equipment	7.9Cr	7.9Cr	7.85Cr	7.73Cr	7.55Cr
Accumulated Depreciation	-3L	-4L	-5L	-6L	-7L
Net Property Plant And Equipment	7.87Cr	7.86Cr	7.8Cr	7.67Cr	7.48Cr
Total Real Estate Assets	7.87Cr	7.86Cr	7.8Cr	7.67Cr	7.48Cr
Cash And Equivalents	7L	8L	3L	4L	2L
Accounts Receivable, Total	16.09L	12.82L	17.14L	17.18L	38T
Other Receivables	3L	10L	10L	5L	4L
Investment In Debt and Equity Securities	93.36L	6L	3L	1L	2L
Other Intangibles, Total	7L	5L	5L	5L	18T
Other Current Assets, Total	10.99L	23T	20T	21T	95.47L
Trading Asset Securities, Total	2L	1L	1L	1L	-
Other Long-Term Assets, Total	3L	3L	3L	3L	3L
Total Assets	9.29Cr	8.33Cr	8.23Cr	8.02Cr	8.55Cr
Liabilities
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	97T	1L	1L	1L	1L
Short-Term Borrowings	89.38L	11.12L	14.67L	-	-
Long-Term Debt	-	-	-	-	-
Long-Term Leases	8L	7L	6L	5L	4L
Accounts Payable, Total	30.94L	33.64L	38.67L	36.68L	28.61L
Accrued Expenses, Total	1.27Cr	1.42Cr	31T	-	-
Current Income Taxes Payable	2T	8T	1.43Cr	1.48Cr	1.97Cr
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	17.66L	18.07L	16.2L	36.44L	46.7L
Deferred Tax Liability Non-Current	-	5L	5L	5L	5L
Other Non Current Liabilities	6L	12T	15.31L	30.53L	-
Total Liabilities	2.79Cr	2.18Cr	2.41Cr	2.63Cr	2.83Cr
Common Stock, Total	1.5Cr	1.5Cr	1.5Cr	1.5Cr	1.5Cr
Retained Earnings	-5L	-27.2L	-32.11L	-42.58L	41.34L
Treasury Stock	-10L	-10L	-10L	-10L	-10L
Comprehensive Income and Other	4.68Cr	4.13Cr	3.84Cr	3.53Cr	3.07Cr
Total Common Equity	6.03Cr	5.26Cr	4.92Cr	4.5Cr	4.89Cr
Minority Interest	46.78L	88.66L	89.26L	88.5L	83.09L
Total Equity	6.5Cr	6.14Cr	5.82Cr	5.39Cr	5.72Cr
Total Liabilities And Equity	9.29Cr	8.33Cr	8.23Cr	8.02Cr	8.55Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	12Cr	12Cr	12Cr	12Cr	12Cr
ECS Total Common Shares Outstanding	12Cr	12Cr	12Cr	12Cr	12Cr
Book Value / Share	0.52	0.45	0.43	0.39	0.42
Tangible Book Value	5.96Cr	5.2Cr	4.87Cr	4.46Cr	4.88Cr
Tangible Book Value Per Share	0.52	0.44	0.42	0.39	0.42
Total Debt	97.95L	18.95L	21.88L	6L	6L
Net Debt	89.25L	10L	17.89L	2L	4L
Debt Equivalent Oper. Leases	9L	-	3L	3L	3L
Minority Interest, Total (Incl. Fin. Div)	46.78L	88.66L	89.26L	88.5L	83.09L
Account Code - Inventory Valuation	3	-	3	3	3
Inventories - Finished Goods, Total	1L	1L	1L	1L	-
Buildings, Total	9L	10L	10.02L	10.45L	10.68L
Full Time Employees	2	-	2	2	2
Part Time Employees	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	1L	1L	16T	22T	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-5L	-27.2L	-32.11L	-42.58L	41.34L
Depreciation, Depletion & Amortization	1L	1L	1L	21.53L	1L
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-3L
Total Depreciation, Depletion & Amortization	1L	1L	1L	21.53L	-2L
(Gain) Loss On Sale of Asset - (CF)	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Total Asset Writedown	-16.36L	-11.64L	5L	15.97L	-84.19L
Provision and Write-off of Bad Debts	-	-	-	-	-
Change in Other Net Operating Assets (Collected)	7L	-49.86L	7L	10L	69.08L
Other Operating Activities	-4L	8L	17.77L	-2L	-29.13L
Cash from Operations	-17.67L	-79.14L	-2L	3L	-4L
Acquisition of Real Estate Assets, Total	-29T	-46T	-72T	-96T	-13T
Sale of Real Estate Assets, Total	-	81.9L	-	-	4L
Net Sale / Acquisition of Real Estate Assets	-29T	81.44L	-72T	-96T	4L
Cash Acquisitions	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	5T	3T	-	-	-2T
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-
Other Investing Activities, Total	-	1T	-	-19T	-1T
Cash from Investing	-24T	81.48L	-72T	-1L	4L
Long-Term Debt Repaid, Total	-1L	-99T	-1L	-1L	-1L
Total Debt Repaid	-1L	-99T	-1L	-1L	-1L
Other Financing Activities, Total	-28T	-18T	-2L	-7T	-13T
Cash from Financing	-1L	-1L	-3L	-1L	-1L
Miscellaneous Cash Flow Adjustments	-	-	-1T	-	-1T
Net Change in Cash	-19.23L	1L	-6L	68T	-2L
Supplemental Items
Cash Income Tax Paid (Refund)	-	-	-	10T	1L
Net Debt Issued / Repaid	-1L	-99T	-1L	-1L	-1L
Levered Free Cash Flow	-1.08Cr	7L	-17.36L	29.2L	-54.15L
Unlevered Free Cash Flow	-1.07Cr	7L	-16.92L	29.71L	-53.56L
Change In Net Working Capital	91.8L	-25.64L	-29T	-27.17L	26.49L

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-1.79	-2.18	-2.12	-2.22	-3.06
Return on Total Capital	-2.37	-2.79	-2.84	-3.14	-4.51
Return On Equity %	0.44	-3.86	-5.46	-8.21	6.96
Return on Common Equity	-1.07	-4.82	-6.31	-9.04	8.81
Margin Analysis
Gross Profit Margin %	-40.53	-52.87	-51.39	-36.19	-355.87
SG&A Margin	65.18	56.02	60.12	41.52	117.81
EBITDA Margin %	-123.98	-169.83	-153.36	-37.57	-458.58
EBITA Margin %	-125.4	-170.06	-153.46	-128.11	-559.87
EBIT Margin %	-125.4	-170.06	-153.46	-128.11	-523.1
Income From Continuing Operations Margin %	13.32	-134.97	-178.18	-204.22	498.84
Net Income Margin %	-24.93	-150.28	-175.18	-189.08	533.42
Net Avail. For Common Margin %	-24.93	-150.28	-175.18	-189.08	533.42
Normalized Net Income Margin	-123.29	-120.31	-91.52	-64.09	-313.56
Levered Free Cash Flow Margin	-514.77	38.25	-94.7	129.67	-698.73
Unlevered Free Cash Flow Margin	-511.35	38.8	-92.31	131.92	-691.06
Asset Turnover
Asset Turnover	0.02	0.02	0.02	0.03	0.01
Fixed Assets Turnover	0.03	0.02	0.02	0.03	0.01
Receivables Turnover (Average Receivables)	1.45	1.25	1.22	1.31	0.88
Inventory Turnover (Average Inventory)	295.4	276.7	277.5	613.4	-
Short Term Liquidity
Current Ratio	0.15	0.16	0.15	0.12	0.37
Quick Ratio	0.1	0.16	0.14	0.12	0.02
Operating Cash Flow to Current Liabilities	-0.07	-0.38	-0.01	0.01	-0.02
Days Sales Outstanding (Average Receivables)	252.22	291.5	298.29	278.89	413.51
Days Outstanding Inventory (Average Inventory)	1.24	1.32	1.32	0.6	-
Average Days Payable Outstanding	417.45	425.94	475.55	-	337.26
Cash Conversion Cycle (Average Days)	-164	-133.13	-175.94	-	-
Long Term Solvency
Total Debt/Equity	15.07	3.08	3.76	1.2	0.96
Total Debt / Total Capital	13.1	2.99	3.63	1.19	0.95
LT Debt/Equity	1.17	1.11	1.05	0.98	0.74
Long-Term Debt / Total Capital	1.02	1.08	1.01	0.97	0.74
Total Liabilities / Total Assets	30.07	26.19	29.3	32.82	33.1
EBIT / Interest Expense	-22.92	-192.38	-40.19	-35.62	-42.67
EBITDA / Interest Expense	-21.98	-185.62	-38.63	-9.04	-36.13
(EBITDA - Capex) / Interest Expense	-22.23	-188.5	-39.66	-10.22	-36.26
Total Debt / EBITDA	-3.87	-0.64	-0.81	-0.89	-0.16
Net Debt / EBITDA	-3.53	-0.32	-0.66	-0.26	-0.1
Total Debt / (EBITDA - Capex)	-3.83	-0.63	-0.79	-0.78	-0.16
Net Debt / (EBITDA - Capex)	-3.49	-0.32	-0.64	-0.23	-0.1
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-3.84	-13.89	1.27	22.86	-65.59
Gross Profit, 1 Yr. Growth %	3.78	12.32	-1.57	-13.48	238.4
EBITDA, 1 Yr. Growth %	-36.28	17.96	-8.56	-16.49	49.01
EBITA, 1 Yr. Growth %	-36.13	16.77	-8.61	2.56	53.59
EBIT, 1 Yr. Growth %	-36.13	16.77	-8.61	2.56	40.52
Earnings From Cont. Operations, 1 Yr. Growth %	-103.13	-972.5	33.69	40.81	-184.06
Net Income, 1 Yr. Growth %	-93.37	419.08	18.05	32.61	-197.09
Diluted EPS Before Extra, 1 Yr. Growth %	-93.37	419.14	18.05	33.49	-196.44
Normalized Net Income, 1 Yr. Growth %	52.56	-15.97	-22.97	-13.96	68.36
Net Property, Plant and Equip., 1 Yr. Growth %	2.64	-0.08	-0.78	-1.74	-2.41
Inventory, 1 Yr. Growth %	0	0	0	-100	-
Accounts Receivable, 1 Yr. Growth %	24.15	-20.32	33.7	0.23	-97.79
Total Assets, 1 Yr. Growth %	1.79	-10.41	-1.2	-2.51	6.58
Common Equity, 1 Yr. Growth %	62.21	-12.82	-6.37	-8.56	8.55
Tangible Book Value, 1 Yr. Growth %	63.49	-12.62	-6.41	-8.53	9.64
Cash From Operations, 1 Yr. Growth %	-80.37	347.88	-97.57	-258.85	-247.54
Capital Expenditures, 1 Yr. Growth %	-97.61	58.62	56.52	33.33	-86.46
Levered Free Cash Flow, 1 Yr. Growth %	20.37	-106.4	-350.76	2.93T	-480.51
Unlevered Free Cash Flow, 1 Yr. Growth %	19.92	-106.53	-340.96	2.71T	-474.04
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-6.49	-9.01	-6.62	11.54	-34.98
Gross Profit, 2 Yr. CAGR %	35.65	7.97	5.15	-7.72	71.11
EBITDA, 2 Yr. CAGR %	-3.78	-13.31	3.86	-47.54	87.31
EBITA, 2 Yr. CAGR %	-4.05	-13.64	3.3	-3.19	24.2
EBIT, 2 Yr. CAGR %	-4.05	-13.64	3.3	-3.19	20.05
Earnings From Cont. Operations, 2 Yr. CAGR %	-68.87	-47.77	241.53	37.2	8.8
Net Income, 2 Yr. CAGR %	-14.33	-41.32	147.55	25.12	13.47
Diluted EPS Before Extra, 2 Yr. CAGR %	-15.55	-41.32	147.56	25.53	13.47
Normalized Net Income, 2 Yr. CAGR %	208.38	13.23	-19.54	-18.59	20.36
Net Property, Plant and Equip., 2 Yr. CAGR %	-5.87	1.27	-0.43	-1.26	-2.08
Inventory, 2 Yr. CAGR %	0	0	0	-	-
Accounts Receivable, 2 Yr. CAGR %	-0.98	-0.54	3.21	15.76	-85.11
Total Assets, 2 Yr. CAGR %	-6.45	-4.51	-5.92	-1.86	1.94
Common Equity, 2 Yr. CAGR %	-9.32	18.92	-9.65	-7.47	-0.37
Tangible Book Value, 2 Yr. CAGR %	-9.42	19.52	-9.57	-7.48	0.14
Cash From Operations, 2 Yr. CAGR %	-13.73	-6.23	-67.04	-80.37	53.09
Capital Expenditures, 2 Yr. CAGR %	-82.17	-80.53	57.57	44.46	-57.51
Levered Free Cash Flow, 2 Yr. CAGR %	-26.71	-72.25	-59.95	105.39	649.1
Unlevered Free Cash Flow, 2 Yr. CAGR %	-27.04	-72.01	-60.32	105.68	611.24
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-11.07	-9.03	-5.7	2.32	-24.63
Gross Profit, 3 Yr. CAGR %	16.27	27.38	4.69	-1.47	42.31
EBITDA, 3 Yr. CAGR %	-5.2	2.98	-11.75	-31.27	4.96
EBITA, 3 Yr. CAGR %	-23.86	2.44	-11.99	3.05	12.13
EBIT, 3 Yr. CAGR %	-23.86	2.44	-11.99	3.05	9.62
Earnings From Cont. Operations, 3 Yr. CAGR %	-63.61	-5.44	-28.55	154.2	16.53
Net Income, 3 Yr. CAGR %	-30.59	56.18	-25.92	101.04	14.97
Diluted EPS Before Extra, 3 Yr. CAGR %	-30.96	54.7	-25.92	101.5	14.97
Normalized Net Income, 3 Yr. CAGR %	89.49	99.93	-0.42	-17.72	3.72
Net Property, Plant and Equip., 3 Yr. CAGR %	-3.23	-3.97	0.59	-0.87	-1.65
Inventory, 3 Yr. CAGR %	-58.8	0	0	-	-
Accounts Receivable, 3 Yr. CAGR %	25.19	-7.9	9.77	2.21	-69.05
Total Assets, 3 Yr. CAGR %	-4.04	-7.79	-3.42	-4.8	0.88
Common Equity, 3 Yr. CAGR %	-4.4	-10.5	9.81	-9.29	-2.41
Tangible Book Value, 3 Yr. CAGR %	-4.45	-10.5	10.16	-9.23	-2.09
Cash From Operations, 3 Yr. CAGR %	-9.26	49.38	-72.27	-44.32	-61.55
Capital Expenditures, 3 Yr. CAGR %	-60.79	-63.05	-61	49.04	-34.38
Levered Free Cash Flow, 3 Yr. CAGR %	28.41	-67.49	-42.2	-35.38	98.51
Unlevered Free Cash Flow, 3 Yr. CAGR %	28.9	-67.36	-42.63	-34.86	96.84
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-3.53	-9.25	-9.32	-1.3	-18.73
Gross Profit, 5 Yr. CAGR %	-7	2.64	11.69	11.97	27.42
EBITDA, 5 Yr. CAGR %	50.02	-1.46	-1.68	-21.37	-2.77
EBITA, 5 Yr. CAGR %	49.24	-1.76	-13.98	0.15	1.01
EBIT, 5 Yr. CAGR %	49.24	-1.76	-13.98	0.15	-0.36
Earnings From Cont. Operations, 5 Yr. CAGR %	-33.34	14.25	-10.88	9.74	-15.46
Net Income, 5 Yr. CAGR %	-27.92	13.98	15.43	42.92	-12.14
Diluted EPS Before Extra, 5 Yr. CAGR %	-27.92	13.98	15.06	42.3	-12.14
Normalized Net Income, 5 Yr. CAGR %	49.16	51.51	34.52	39.57	7.43
Net Property, Plant and Equip., 5 Yr. CAGR %	-3.35	-3.65	-2.12	-2.9	-0.49
Inventory, 5 Yr. CAGR %	-41.26	-41.26	-41.26	-	-
Accounts Receivable, 5 Yr. CAGR %	-7.53	3.94	15.89	0.92	-50.63
Total Assets, 5 Yr. CAGR %	-5.99	-4.98	-4.8	-5.46	-1.31
Common Equity, 5 Yr. CAGR %	-2.85	-5.74	-6.54	-9.3	5.62
Tangible Book Value, 5 Yr. CAGR %	-2.88	-5.73	-6.54	-9.3	6.04
Cash From Operations, 5 Yr. CAGR %	-38.75	0.58	-39.48	-33.66	-45.07
Capital Expenditures, 5 Yr. CAGR %	-42.76	-27.65	-31.6	-36.25	-59.64
Levered Free Cash Flow, 5 Yr. CAGR %	10.24	0.51	-19.42	-32.04	-9.64
Unlevered Free Cash Flow, 5 Yr. CAGR %	9.79	6.3	-19.54	-31.84	-9.79