Derayah REIT posts FFO of SAR 67.4 mln, net profit of SAR 47.2 mln in 2022

30/03/2023 Argaam Exclusive

Derayah REIT Fund recorded a 3% decline in 2022 net profit to SAR 47.2 million (SAR 0.44 per unit), compared to SAR 45.6 million a year earlier.

 

Funds from operations (FFO) decreased by 3% to SAR 67.4 million in 2022, from SAR 69.1 million in 2021.



Financials (M)

Item 2021 2022 Change‬
Rental Income 130.20 123.13 (5.4 %)
Funds from Operations(FFO) 69.14 67.36 (2.6 %)
Net Income 45.56 47.18 3.6 %
No of shares 107.51 107.51 -
Operating EPS (Riyals) 0.64 0.63 (2.6 %)
EPS (Riyals) 0.42 0.44 3.6 %

The fund recorded a SAR 4.52 million reversal of impairment in investment properties in the 12-month period, compared to an impairment of SAR 2.35 million a year earlier.  

 

It also recorded a decline of SAR 4.06 million in expected credit loss provisions, from SAR 22.38 million a year earlier.



Interim Comparasion (M)

Compared With The
Item H2 2021 H2 2022 Change‬
Rental Income 65.08 60.84 (6.5 %)
Funds from Operations(FFO) 23.14 29.60 27.9 %
Net Income 18.27 19.88 8.8 %
No of shares 107.51 107.51 -
Operating EPS (Riyals) 0.22 0.28 27.9 %
EPS (Riyals) 0.17 0.18 8.8 %

On the other hand, finance costs increased. Derayah REIT also recorded a 5% year-on-year (YoY) decline in rental income.

 

Net asset value (NAV) stood at SAR 882.04 million by the end of 2022, while net book value per unit reached SAR 8.20.

 

The market value of assets stood at SAR 900.50 million as of Dec. 31, 2022, with market value per unit at SAR 8.38.

Balance Sheet (Million)

Item 2021 2022 Change‬
Total Assets 1,694.72 1,658.43 (2.1 %)
Total Debt 747.98 747.98 -
Net assets attributable to the Unitholders Item 910.11 882.04 (3.1 %)
Market value of net assets 910.75 900.50 (1.1 %)

View more financial results

 

View other reports

Share Price

Derayah REIT Fund
6.03
(0.06) (0.99 %)

Derayah REIT Fund (DERAYAH REIT)

More


Financial Ratios
Current
Number of Units (Million) 107.51
Net Income/Unit ( Riyal) 0.51
Funds from operations/Unit ( Riyal) 0.22
P/E (X) (TTM) 11.88
Current Price/FFO (X) 27.31
Par Value ( Riyal) 10.00
Price/book 0.73
Asset Growth (%) (6.72 )
Revenue Growth (%) (5.77 )
Net Income Growth (%) 209.7
Adjusted P/E (Last12) (X) 11.88
more

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request