SEDCO Capital REIT posts SAR 31.4 mln FFO, net profit of SAR 9.7 mln in 2020

30/03/2021 Argaam Exclusive

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SEDCO Capital REIT Fund reported a net profit of SAR 9.7 million (SAR 0.16/unit) in 2020, declining 56% from SAR 22.1 million in 2019, according to a bourse filing by fund manager SEDCO Capital.

 

Funds from operations (FFO) stood at SAR 31.4 million in 2020, down 7% from SAR 33.94 million a year ago.



Financials (M)

Item 2019 2020 Change‬
Rental Income 76.80 68.11 (11.3 %)
Funds from Operations(FFO) 33.94 31.44 (7.4 %)
Net Income 22.14 9.72 (56.1 %)
No of shares 60.00 60.00 -
Operating EPS (Riyals) 0.57 0.52 (7.4 %)
EPS (Riyals) 0.37 0.16 (56.1 %)


Interim Comparasion (M)

Compared With The
Item 2019 2020 Change‬
Rental Income 39.06 30.60 (21.6 %)
Funds from Operations(FFO) 16.79 13.76 (18.1 %)
Net Income 12.22 7.95 (35.0 %)
No of shares 60.00 60.00 -
Operating EPS (Riyals) 0.28 0.23 (18.1 %)
EPS (Riyals) 0.20 0.13 (35.0 %)

Balance Sheet (Million)

Item 2019 2020 Change‬
Total Assets 1,068.37 1,048.14 (1.9 %)
Total Debt 484.56 488.20 0.8 %
Net assets attributable to the Unitholders Item 561.52 537.95 (4.2 %)
Market value of net assets 589.04 565.01 (4.1 %)

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