Swicopr Wabel REIT Fund cut its 2021 net loss of SAR 14.9 million, from SAR 151.1 million a year earlier.
Funds from operations (FFO) amounted to SAR 6.2 million in 2021, down 71% from SAR 21.6 million in 2020.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Rental Income | 54.17 | 59.05 | 9.0 % |
| Funds from Operations(FFO) | 21.57 | 6.18 | (71.3 %) |
| Net Income | (151.05) | (14.86) | 90.2 % |
| No of shares | 118.00 | 118.00 | - |
| Operating EPS (Riyals) | 0.18 | 0.05 | (71.3 %) |
| EPS (Riyals) | (1.28) | (0.13) | 90.2 % |
The lower losses were attributed to a 9% year-on-year (YoY) rise in leasing revenue. The fund also recorded a reversal of real estate investment provision of SAR 10 million in 2021, compared to a provision of SAR 151 million a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Rental Income | 21.07 | 30.83 | 46.3 % |
| Funds from Operations(FFO) | (0.10) | (9.69) | (9,782.7 %) |
| Net Income | (10.04) | (6.75) | 32.8 % |
| No of shares | 118.00 | 118.00 | - |
| Operating EPS (Riyals) | 0.00 | (0.08) | (9,782.7 %) |
| EPS (Riyals) | (0.09) | (0.06) | 32.8 % |
| Item | 2021 | 2021 | Change |
|---|---|---|---|
| Rental Income | 28.22 | 30.83 | 9.2 % |
| Funds from Operations(FFO) | 15.87 | (9.69) | (161.0 %) |
| Net Income | (8.11) | (6.75) | 16.8 % |
| No of shares | 118.00 | 118.00 | - |
| Operating EPS (Riyals) | 0.13 | (0.08) | (161.0 %) |
| EPS (Riyals) | (0.07) | (0.06) | 16.8 % |
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Total Assets | 982.36 | 946.68 | (3.6 %) |
| Total Debt | 7.99 | 7.67 | (4.0 %) |
| Net assets attributable to the Unitholders Item | 947.72 | 932.86 | (1.6 %) |
| Market value of net assets | 947.72 | 932.86 | (1.6 %) |
Net asset value (NAV) in 2021 stood at SAR 932.89 million, while net book value per unit reached SAR 7.91.
The full-year market value of assets stood at SAR 932.89 million, with market value per unit at SAR 7.91.
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