Taleem REIT posts SAR 42.5 mln FFO, SAR 35.5 mln net profit in 2020

30/03/2021 Argaam Exclusive

View other reports

Taleem REIT Fund reported a net profit of SAR 35.5 million (SAR 0.7/unit) for 2020, a decline of 4% from SAR 36.9 million a year earlier.

Funds from operations (FFO) rose 5% to SAR 42.5 million in 2020 from SAR 40.7 million in 2019.

The profit drop was attributed to an increase of 28% year-on-year (YoY) in operating expenses and a rise of SAR 1.2 million in finance costs. The fund reported real estate investment impairment of SAR 2.19 million in 2020, an increase in real estate investments depreciation, along with higher Zakat and taxes.

Financials (M)

Item	2019	2020	Change‬
Rental Income	45.50	48.71	7.1 %
Funds from Operations(FFO)	40.68	42.54	4.6 %
Net Income	36.87	35.50	(3.7 %)
No of shares	51.00	51.00	-
Operating EPS (Riyals)	0.80	0.83	4.6 %
EPS (Riyals)	0.72	0.70	(3.7 %)

Interim Comparasion (M)

Compared With The

Item	H2 2019	H2 2020	Change‬
Rental Income	22.76	25.97	14.1 %
Funds from Operations(FFO)	20.27	22.22	9.6 %
Net Income	17.60	20.27	15.1 %
No of shares	51.00	51.00	-
Operating EPS (Riyals)	0.40	0.44	9.6 %
EPS (Riyals)	0.35	0.40	15.1 %

Item	H1 2020	H2 2020	Change‬
Rental Income	22.74	25.97	14.2 %
Funds from Operations(FFO)	20.32	22.22	9.3 %
Net Income	15.23	20.27	33.1 %
No of shares	51.00	51.00	-
Operating EPS (Riyals)	0.40	0.44	9.3 %
EPS (Riyals)	0.30	0.40	33.1 %

Balance Sheet (Million)

Item	2019	2020	Change‬
Total Assets	535.50	634.04	18.4 %
Total Debt	-	94.32	-
Net assets attributable to the Unitholders Item	530.85	533.71	0.5 %
Market value of net assets	538.83	544.18	1.0 %

Net asset value (NAV) stood at SAR 533.7 million, while the NAV per unit reached SAR 10.5 during the year.

The market value of assets reached SAR 544.2 million, with per unit market value stood at SAR 10.7.

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.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

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

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.

×