AlJazira Mawten REIT incurs SAR 236,415 losses in FY 2019

31/03/2020 Argaam Exclusive

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AlJazira Mawten REIT posted a net loss of SAR 236,415 for the fiscal year 2019, Aljazira Financial Markets Co. said in a bourse statement on Tuesday.

Financials (M)

Item	2018	2019	Change‬
Rental Income	9.56	5.17	(45.9 %)
Funds from Operations(FFO)	7.56	3.59	(52.5 %)
Net Income	0.40	(0.24)	(159.7 %)
No of shares	11.80	11.80	-
Operating EPS (Riyals)	0.64	0.30	(52.5 %)
EPS (Riyals)	0.03	(0.02)	(159.7 %)

Net asset value (NAV) stood at SAR 109.67 million, while the NAV per unit reached SAR 8.52 by the end of 2019.

The number of issued units totalled 118 million, with a negative yield of 1.40% for FY2019.

Total expenses and fees stood at SAR 1.58 million by the end of 2019.

Interim Comparasion (M)

Compared With The

Item	H2 2018	H2 2019	Change‬
Rental Income	4.81	2.72	(43.5 %)
Funds from Operations(FFO)	3.74	1.91	(48.8 %)
Net Income	(3.01)	2.60	186.2 %
No of shares	11.80	11.80	-
Operating EPS (Riyals)	0.32	0.16	(48.8 %)
EPS (Riyals)	(0.26)	0.22	186.2 %

Item	H1 2019	H2 2019	Change‬
Rental Income	2.45	2.72	11.0 %
Funds from Operations(FFO)	1.68	1.91	13.7 %
Net Income	(2.83)	2.60	191.6 %
No of shares	11.80	11.80	-
Operating EPS (Riyals)	0.14	0.16	13.7 %
EPS (Riyals)	(0.24)	0.22	191.6 %

Balance Sheet (Million)

Item	2018	2019	Change‬
Total Assets	118.17	111.85	(5.3 %)
Total Debt	-	-	-
Net assets attributable to the Unitholders Item	115.80	109.67	(5.3 %)
Market value of net assets	114.14	100.61	(11.9 %)

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