Riyad REIT Fund posted a net profit of SAR 45.1 million (SAR 0.26 per unit) for 2020, down 36%, compared to SAR 70.9 million in 2019, according to a bourse filing by fund manager Riyad Capital.
Funds from operations (FFO) reached SAR 69.2 million, falling 25%, compared to SAR 92.4 million in the year-earlier period.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Rental Income | 181.16 | 186.02 | 2.7 % |
| Funds from Operations(FFO) | 92.40 | 69.17 | (25.1 %) |
| Net Income | 70.88 | 45.06 | (36.4 %) |
| No of shares | 171.70 | 171.70 | - |
| Operating EPS (Riyals) | 0.54 | 0.40 | (25.1 %) |
| EPS (Riyals) | 0.41 | 0.26 | (36.4 %) |
The decline in net profit was due to higher operating and finance costs.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Rental Income | 90.71 | 97.62 | 7.6 % |
| Funds from Operations(FFO) | 51.19 | 34.03 | (33.5 %) |
| Net Income | 37.24 | 21.16 | (43.2 %) |
| No of shares | 171.70 | 171.70 | - |
| Operating EPS (Riyals) | 0.30 | 0.20 | (33.5 %) |
| EPS (Riyals) | 0.22 | 0.12 | (43.2 %) |
| Item | 2020 | 2020 | Change |
|---|---|---|---|
| Rental Income | 88.40 | 97.62 | 10.4 % |
| Funds from Operations(FFO) | 35.14 | 34.03 | (3.2 %) |
| Net Income | 23.90 | 21.16 | (11.5 %) |
| No of shares | 171.70 | 171.70 | - |
| Operating EPS (Riyals) | 0.20 | 0.20 | (3.2 %) |
| EPS (Riyals) | 0.14 | 0.12 | (11.5 %) |
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Total Assets | 2,385.78 | 2,521.15 | 5.7 % |
| Total Debt | 685.08 | 883.91 | 29.0 % |
| Net assets attributable to the Unitholders Item | 1,623.57 | 1,591.36 | (2.0 %) |
| Market value of net assets | 1,658.03 | 1,646.15 | (0.7 %) |
Net asset value (NAV) stood at SAR 1.591 billion, while the NAV per unit reached SAR 9.3 in 2020.
The market value of assets reached SAR 1.647 billion, while the market value per unit stood at SAR 9.6.
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