Amlak International for Real Estate Finance, a Saudi-based non-bank real estate finance company, reported a net profit of SAR 29.5 million in Q1 2020, compared to SAR 3.6 million in the same quarter last year.

 

Income Statement (SAR mln)

Period

Q1 2019

Q1 2020

Variation (%)

Gross income of Murabaha & Ijara contracts

68.3

75.3

+10%

Net profit

3.6

29.5

+720%

Number of shares (mln)

90.6

90.6

--

EPS (SAR/share)

0.04

0.33

+720%

 

The increase in net profit was attributed to a decrease in financing charges from SAR 24.1 million to SAR 13.4 million.

 

The company’s earnings included an adjusted profit of SAR 8.7 million, due to deferring loan installments, in accordance with the Saudi Arabian Monetary Authority’s (SAMA) program to support the private sector.

 

Meanwhile, Zakat expenses fell to nearly SAR 3.8 million in Q1 2020 from SAR 20.4 million a year earlier.

 

Income Statement since 2015 (SAR mln)

Period

2015

2016

2017

2018

2019

Revenues

209.5

260.4

267.4

267.1

296.3

Net profit

102.9

109.0

103.3

61.2

70.0

Number of shares (mln)

90.0

90.0

90.3

90.6

90.6

EPS (SAR/share)

1.14

1.21

1.14

0.68

0.77

 

Balance Sheet since 2015 (SAR mln)

Period

2015

2016

2017

2018

2019

Cash & Cash equivalent

10.3

9.3

29.6

16.0

7.9

Total assets

3030.4

3289.5

3327.1

3263.5

3405.2

Total loans

1854.7

2102.3

2072.2

1994.1

2080.4

Total liabilities

1932.6

2156.2

2157.8

2136.6

2279.9

Capital

900.0

900.0

903.0

906.0

906.0

Shareholders’ equity

1097.9

1133.3

1169.3

1126.9

1125.3

 

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