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

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 %

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 %)


Financial results (Million)

Period Rental Income Change Funds from Operations(FFO) Change Net Income Change
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2017 4.00 - 3.12 - 3.12 -
H2 2017 5.01 - 3.95 - 3.17 -
H1 2018 4.75 18.7 % 3.82 22.5 % 3.41 9.3 %
H2 2018 4.81 (3.9 %) 3.74 (5.5 %) (3.01) (195.1 %)
H1 2019 2.45 (48.4 %) 1.68 (56.0 %) (2.83) (183.2 %)
H2 2019 2.72 (43.5 %) 1.91 (48.8 %) 2.60 186.2 %
2019 5.17 (45.9 %) 3.59 (52.5 %) (0.24) (159.7 %)

Balance Sheet (Million)

Period Total Assets Change Total Debt Change Net assets attributable to the Unitholders Item Change Market value of net assets Change
H1 2014 - - - - - - - -
H2 2014 - - - - - - - -
H1 2015 - - - - - - - -
H2 2015 - - - - - - - -
H1 2017 124.78 - - - 121.12 - 120.02 -
H2 2017 123.71 - - - 121.34 - 115.76 -
H1 2018 127.32 2.0 % - - 124.74 3.0 % 119.24 (0.7 %)
H2 2018 118.17 (4.5 %) - - 115.80 (4.6 %) 114.14 (1.4 %)
H1 2019 115.05 (9.6 %) - - 107.07 (14.2 %) 103.44 (13.3 %)
H2 2019 111.85 (5.3 %) - - 109.67 (5.3 %) 100.61 (11.9 %)

Multiple Ratios (End of Period Price)

Compared With The
Period Price/ Earnings (P/E)(x) Price/FFO(x)
Q2 2010 - -
Q4 2010 - -
Q2 2011 - -
Q4 2011 - -
Q2 2012 - -
Q4 2012 - -
Q2 2013 - -
Q4 2013 - -
Q2 2014 - -
Q4 2014 - -
Q2 2015 - -
Q4 2015 - -
Q2 2016 - -
Q4 2016 - -
Q2 2017 - -
Q4 2017 32.95 29.28
Q2 2018 24.95 21.10
Q4 2018 More than 100 22.52
Q2 2019 NEG 28.15
Q4 2019 NEG 41.00

Unit Data (Riyal)

Compared With The
Period Operating EPS EPS Book Value Market Value
H1 2014 - - - -
H2 2014 - - - -
H1 2015 - - - -
H2 2015 - - - -
H1 2017 0.26 0.26 10.26 10.17
H2 2017 0.34 0.27 10.28 9.81
H1 2018 0.32 0.29 10.57 10.10
H2 2018 0.32 (0.26) 9.81 9.67
H1 2019 0.14 (0.24) 9.07 8.77
H2 2019 0.16 0.22 9.29 8.53


Financial Ratios
Current
Number of Units (Million) 11.80
Net Income/Unit ( Riyal) 0.79
Funds from operations/Unit ( Riyal) 0.37
P/E (X) (TTM) 19.59
Current Price/FFO (X) 42.47
Par Value ( Riyal) 10.00
Price/book 1.97
Asset Growth (%) 6.2
Revenue Growth (%) 2.3
Net Income Growth (%) 54.2
Adjusted P/E (Last12) (X) 19.59
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Share Price

AlJazira REIT
15.54
0.04 0.26 %

AlJazira REIT (ALJAZIRA REIT)

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