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

17/03/2021 Argaam Exclusive

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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 %)

Item	H1 2020	H2 2020	Change‬
Rental Income	63.07	78.24	24.1 %
Funds from Operations(FFO)	29.69	33.92	14.2 %
Net Income	1.62	13.10	708.9 %
No of shares	137.50	137.50	-
Operating EPS (Riyals)	0.22	0.25	14.2 %
EPS (Riyals)	0.01	0.10	708.9 %

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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