AlAhli REIT (1) posts FFO of SAR 63.6 mln, net profit of SAR 14.7 mln in 2020

17/03/2021 Argaam Exclusive

The net profit of AlAhli REIT Fund (1) fell to SAR 14.7 million in 2020 (SAR 0.1/unit), a 75% decline from SAR 60.03 million a year earlier, fund manager NCB Capital said in a bourse statement.

 

Funds from Operations (FFO) reached SAR 63.6 million in 2020 from SAR 78.76 million in 2019.



Financials (M)

Item 2019 2020 Change‬
Rental Income 151.70 141.31 (6.8 %)
Funds from Operations(FFO) 78.76 63.62 (19.2 %)
Net Income 60.03 14.72 (75.5 %)
No of shares 137.50 137.50 -
Operating EPS (Riyals) 0.57 0.46 (19.2 %)
EPS (Riyals) 0.44 0.11 (75.5 %)


Interim Comparasion (M)

Compared With The
Item H2 2019 H2 2020 Change‬
Rental Income 81.29 78.24 (3.7 %)
Funds from Operations(FFO) 37.91 33.92 (10.5 %)
Net Income 29.29 13.10 (55.3 %)
No of shares 137.50 137.50 -
Operating EPS (Riyals) 0.28 0.25 (10.5 %)
EPS (Riyals) 0.21 0.10 (55.3 %)

Balance Sheet (Million)

Item 2019 2020 Change‬
Total Assets 1,694.37 1,903.40 12.3 %
Total Debt 253.05 515.00 103.5 %
Net assets attributable to the Unitholders Item 1,367.62 1,320.47 (3.4 %)
Market value of net assets 1,396.62 1,361.35 (2.5 %)

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Share Price

AlAhli REIT Fund 1
7.10
(0.04) (0.56 %)

AlAhli REIT Fund 1 (ALAHLI REIT 1)

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Financial Ratios
Current
Number of Units (Million) 137.50
Net Income/Unit ( Riyal) 0.24
Funds from operations/Unit ( Riyal) 0.41
P/E (X) (TTM) 29.37
Current Price/FFO (X) 17.14
Par Value ( Riyal) 10.00
Price/book 0.80
Asset Growth (%) 0.8
Revenue Growth (%) (1.60 )
Net Income Growth (%) (34.07 )
Adjusted P/E (Last12) (X) 29.37
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