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Automotive Properties Real Estate Investment Trust (APR-UN) investor relations material

Automotive Properties Real Estate Investment Trust Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary15 Aug, 2025

Executive summary

  • Achieved growth in rental revenue, cash NOI, same property cash NOI, and AFFO per unit year-over-year, with AFFO payout ratio declining to 80.7%.

  • Announced a 2.2% increase in annual cash distribution, effective August 2025.

  • Entered agreements to acquire seven automotive properties, including five in Montreal/Île-Perrot and one in Orlando, enhancing geographic and tenant diversification and expected to be accretive to AFFO per unit.

  • Marked the tenth anniversary since IPO, with investment property value rising from $358M to over $1.2B.

Financial highlights

  • Rental revenue rose 4.6% year-over-year to $24.6M in Q2 2025; cash NOI up 5.6% to $20.6M; same property cash NOI up 2.4% to $19.5M.

  • AFFO per unit (diluted) increased to 24.9¢ from 23.3¢; AFFO payout ratio declined to 80.7%.

  • Net income was $11.2M, down from $37.3M last year due to lower fair value gains.

  • FFO and AFFO increased by 6% and 7.4% respectively year-over-year.

  • Adjusted Cash Flow from Operations (ACFO) grew 12.7% to $14.0M.

Outlook and guidance

  • Expect continued AFFO and AFFO per unit growth through 2025, supported by recent and pending acquisitions and industry consolidation.

  • Anticipate Debt to GBV ratio to rise to 47.6% post-acquisitions.

  • Positive on acquisition opportunities in US and heavy equipment sectors, focusing on metropolitan markets with GDP and population growth.

  • Actively monitoring risks from inflation, interest rates, currency fluctuations, and trade restrictions.

  • Anticipate further value creation for unitholders through portfolio expansion and stable cash flows.

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Q3 202514 Nov, 2025
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Frequently asked questions

Automotive Properties Real Estate Investment Trust (REIT) is a real estate investment trust focused on owning and managing income-producing properties used by automotive dealerships across Canada. The company’s portfolio includes a range of dealership properties leased to leading automotive brands and operators. Automotive Properties REIT provides real estate solutions tailored to the automotive retail industry, offering long-term leases and stable income generation from its properties. The company is headquartered in Toronto, Canada, and its shares are listed on the TSX.

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