Jadwa REIT Saudi posts FFO of SAR 84.6 mln, net profit of SAR 77.6 mln in 2022

30/03/2023 Argaam Exclusive

View other reports

Jadwa REIT Saudi Fund recorded a net profit of SAR 77.6 million (SAR 0.42 per unit) for 2022, compared to SAR 28 million a year earlier.

Funds from operations (FFO) came in at SAR 84.6 million in the 12-month period, down from SAR 106.9 million in 2021.

Financials (M)

Item	2021	2022	Change‬
Rental Income	145.20	158.45	9.1 %
Funds from Operations(FFO)	106.91	74.84	(30.0 %)
Net Income	27.85	52.77	89.5 %
No of shares	186.51	186.51	-
Operating EPS (Riyals)	0.57	0.40	(30.0 %)
EPS (Riyals)	0.15	0.28	89.5 %

The fund reported rental income and gains from disposal of investment real estate of SAR 24.9 million in the current period.

It also recorded unrealized gains from financial assets at fair value through profit or loss at SAR 11.7 million for 2022, against SAR 12 million unrealized losses from financial assets at fair value through profit or loss.

Interim Comparasion (M)

Compared With The

Item	H2 2021	H2 2022	Change‬
Rental Income	73.97	76.24	3.1 %
Funds from Operations(FFO)	53.47	14.46	(73.0 %)
Net Income	0.81	7.14	780.6 %
No of shares	186.51	186.51	-
Operating EPS (Riyals)	0.29	0.08	(73.0 %)
EPS (Riyals)	0.00	0.04	780.6 %

Item	H1 2022	H2 2022	Change‬
Rental Income	82.22	76.24	(7.3 %)
Funds from Operations(FFO)	60.38	14.46	(76.1 %)
Net Income	45.63	7.14	(84.3 %)
No of shares	186.51	186.51	-
Operating EPS (Riyals)	0.32	0.08	(76.1 %)
EPS (Riyals)	0.24	0.04	(84.3 %)

Balance Sheet (Million)

Item	2021	2022	Change‬
Total Assets	2,462.55	2,293.69	(6.9 %)
Total Debt	599.99	451.24	(24.8 %)
Net assets attributable to the Unitholders Item	1,851.06	1,779.49	(3.9 %)
Market value of net assets	2,093.10	2,018.54	(3.6 %)

On the other hand, the fund reported a rise in general and administrative expenses, as well as management fees.

Net asset value (NAV) stood at SAR 1.77 billion by the end of 2022, while net book value per unit reached SAR 9.54.

The market value of assets stood at SAR 2.01 billion as of Dec. 31, 2022, with market value per unit at SAR 10.82.

View more financial results

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.

×