Swicorp Wabel REIT Fund posted a net profit of SAR 11.3 million (SAR 0.10 per unit) for the third quarter of 2020, compared to a profit of SAR 8.3 million for the same period last year.

 

Funds from operations (FFO) reached SAR 11.5 million during the three-month period, compared to SAR 8.3 million in the year-earlier period.

 

Income Statement (SAR mln)

Item

Q3 2019

Q31 2020

Change (%)

Rental Income*

23.0

*19.1

(29)

Operating expenses

(9.3)

(7.6)

19

Funds from Operations (FFO)

17.6

11.50

(35)

Net profit

8.3

11.3

+36

Number of units (mln)

118.00

118.0

--

Operating EPS (SAR)

0.15

0.10

(35)

EPS (SAR)

0.07

0.10

+36

* Includes revenue of advertising and media contracts worth SAR 3 million for each financial period

 

The profit increase is attributed to impairment reversal worth SAR 7.2 million.

 

Depreciation and amortization expenses stood at SAR 7.4 million, compared to SAR 9.3 million for the same quarter last year.

 

However, the fund did not register any doubtful debts provision for Q3 2020.

 

Balance Sheet (SAR mln)

Item

September 2019

September 2020

Change (%)

Assets

1153.3

1003.2

(13)

Liabilities

23.8

34.2

(44)

Net Assets for Unit Holders

1129.5

969.1

(14)

Net Asset per Unit

9.57

8.21

(14)

 

Swicorp Wabel REIT Factsheet – Q3 2020

Comments 0

Be the first to comment

loader Train
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.

Market Indices

TASI
11,882.65
(142.40) (1.18 %)
Created with Highstock 6.0.710:…10:0011:0012:0013:0014:0015:0011,850.0011,900.0011,950.0012,000.0012,050.00
Close : 11882.65 | Apr 3, 15:20
More

Quotes

ALINMA RETAIL REIT
4.63
(0.03) (0.64%)
Created with Highstock 6.0.710:…10:0011:0012:0013:0014:0015:0011,850.0011,900.0011,950.0012,000.0012,050.00
Close : 11882.65 | Apr 3, 15:20
More


Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2025, Argaam Investment, All Rights Reserved
Call Request

Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.

Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website