SEDCO Capital REIT posts SAR 31.4 mln FFO, net profit of SAR 9.7 mln in 2020

30/03/2021 Argaam Exclusive

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SEDCO Capital REIT Fund reported a net profit of SAR 9.7 million (SAR 0.16/unit) in 2020, declining 56% from SAR 22.1 million in 2019, according to a bourse filing by fund manager SEDCO Capital.

Funds from operations (FFO) stood at SAR 31.4 million in 2020, down 7% from SAR 33.94 million a year ago.

Financials (M)

Item	2019	2020	Change‬
Rental Income	76.80	68.11	(11.3 %)
Funds from Operations(FFO)	33.94	31.44	(7.4 %)
Net Income	22.14	9.72	(56.1 %)
No of shares	60.00	60.00	-
Operating EPS (Riyals)	0.57	0.52	(7.4 %)
EPS (Riyals)	0.37	0.16	(56.1 %)

Interim Comparasion (M)

Compared With The

Item	H2 2019	H2 2020	Change‬
Rental Income	39.06	30.60	(21.6 %)
Funds from Operations(FFO)	16.79	13.76	(18.1 %)
Net Income	12.22	7.95	(35.0 %)
No of shares	60.00	60.00	-
Operating EPS (Riyals)	0.28	0.23	(18.1 %)
EPS (Riyals)	0.20	0.13	(35.0 %)

Item	H1 2020	H2 2020	Change‬
Rental Income	37.50	30.60	(18.4 %)
Funds from Operations(FFO)	17.68	13.76	(22.2 %)
Net Income	1.78	7.95	347.1 %
No of shares	60.00	60.00	-
Operating EPS (Riyals)	0.29	0.23	(22.2 %)
EPS (Riyals)	0.03	0.13	347.1 %

Balance Sheet (Million)

Item	2019	2020	Change‬
Total Assets	1,068.37	1,048.14	(1.9 %)
Total Debt	484.56	488.20	0.8 %
Net assets attributable to the Unitholders Item	561.52	537.95	(4.2 %)
Market value of net assets	589.04	565.01	(4.1 %)

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