Taleem REIT posts SAR 21.2 mln FFO, SAR 16.7 mln net profit in H1 2021

19/08/2021 Argaam Exclusive
0

Taleem REIT Fund reported a net profit of SAR 16.7 million (SAR 0.33/unit) for the first six months of 2021, from a profit of SAR 15.2 million in the similar period last year, fund manager Saudi Fransi Capital Capital said in a bourse statement.

 

Funds from operations (FFO) reached SAR 21.2 million during the six-month period, an increase of nearly 4%, compared to SAR 20.3 million in H1 2020.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Rental Income 22.74 24.89 9.4 %
Funds from Operations(FFO) 20.32 21.24 4.5 %
Net Income 15.23 16.71 9.7 %
No of shares 51.00 51.00 -
Operating EPS (Riyals) 0.40 0.42 4.5 %
EPS (Riyals) 0.30 0.33 9.7 %

The profit increase was driven by higher rental income and decline in the values of real estate investments.

 

This was despite high financing costs and depreciation of real estate investments.



Net asset value (NAV) stood at SAR 542.26 million, while the NAV per unit reached SAR 10.63 during the six-month period.

 

The market value of assets reached SAR 546.57 million, with per unit market value stood at SAR 10.72.

Balance Sheet (Million)

Item 6m 2020 6m 2021 Change‬
Total Assets 646.74 640.97 (0.9 %)
Total Debt 98.90 94.30 (4.7 %)
Net assets attributable to the Unitholders Item 529.76 542.26 2.4 %
Market value of net assets 539.32 546.57 1.3 %

View other reports

Share Price

10.24
(0.06) (0.58 %)

Taleem REIT Fund (TALEEM REIT)

Created with Highstock 6.0.710:2010:3010:5011:1011:3011:4011:5012:0012:1012:3012:4013:0013:1013:3013:4013:5014:0014:1014:2014:3014:4014:5015:1015:2010.210.2210.2410.2610.2810.310.3210.3410.3610.38
Close : 10.24 | Jan 2, 15:20

Current
Number of Units (Million) 51.00
Net Income/Unit ( Riyal) 0.70
Funds from operations/Unit ( Riyal) 0.77
P/E (X) (TTM) 14.66
Current Price/FFO (X) 13.37
Par Value ( Riyal) 10.00
Price/book 0.95
Asset Growth (%) (0.89 )
Revenue Growth (%) 5.8
Net Income Growth (%) 3.9
Adjusted P/E (Last12) (X) 14.66


Financial results (Million)

Period Rental Income Change Funds from Operations(FFO) Change Net Income Change
H1 2017 2.04 - 1.77 - 1.77 -
H2 2017 12.24 - 10.83 - 10.84 -
H1 2018 12.22 499.8 % 10.85 512.2 % 10.86 512.5 %
H2 2018 17.60 43.7 % 15.58 43.9 % 15.01 38.5 %
H1 2019 22.74 86.0 % 20.41 88.0 % 19.27 77.5 %
H2 2019 22.76 29.3 % 20.27 30.1 % 17.60 17.2 %
H1 2020 22.74 0.0 % 20.32 (0.4 %) 15.23 (20.9 %)
H2 2020 25.97 14.1 % 22.22 9.6 % 20.27 15.1 %
2020 48.71 7.1 % 42.54 4.6 % 35.50 (3.7 %)
H1 2021 24.89 9.4 % 21.24 4.5 % 16.71 9.7 %

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 2017 286.52 - - - 286.77 - 287.21 -
H2 2017 299.95 - - - 293.34 - 290.13 -
H1 2018 296.50 3.5 % - - 295.08 2.9 % 295.08 2.7 %
H2 2018 533.08 77.7 % - - 526.61 79.5 % 532.26 83.5 %
H1 2019 537.26 81.2 % - - 528.75 79.2 % 537.83 82.3 %
H2 2019 535.50 0.5 % - - 530.85 0.8 % 538.83 1.2 %
H1 2020 646.74 20.4 % 98.90 - 529.76 0.2 % 539.32 0.3 %
H2 2020 634.04 18.4 % 94.32 - 533.71 0.5 % 544.18 1.0 %
H1 2021 640.97 (0.9 %) 94.30 (4.7 %) 542.26 2.4 % 546.57 1.3 %

Multiple Ratios (End of Period Price)

Compared With The
Period Price/ Earnings (P/E)(x) Price/FFO(x)
Q2 2012 - -
Q4 2012 - -
Q2 2013 - -
Q4 2013 - -
Q2 2014 - -
Q4 2014 - -
Q2 2015 - -
Q4 2015 - -
Q2 2016 - -
Q4 2016 - -
Q2 2017 - -
Q4 2017 48.89 27.34
Q2 2018 25.38 14.20
Q4 2018 20.18 19.76
Q2 2019 15.20 14.48
Q4 2019 17.26 15.65
Q2 2020 17.95 14.52
Q4 2020 18.50 15.44
Q2 2021 21.35 18.17

Unit Data (Riyal)

Compared With The
Period Operating EPS EPS Book Value Market Value
H1 2017 0.06 0.06 10.06 10.08
H2 2017 0.38 0.38 10.29 10.31
H1 2018 0.38 0.38 10.35 10.35
H2 2018 0.31 0.29 10.33 10.44
H1 2019 0.40 0.38 10.37 10.55
H2 2019 0.40 0.35 10.41 10.57
H1 2020 0.40 0.30 10.39 10.57
H2 2020 0.44 0.40 10.46 10.67
H1 2021 0.42 0.33 10.63 10.72


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.
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