Riyad REIT posts SAR 127.5 mln FFO, SAR 96.6 mln profit in 2021

Riyad REIT posts SAR 127.5 mln FFO, SAR 96.6 mln profit in 2021

29/03/2022 Argaam Exclusive

View other reports

Riyad REIT Fund reported a net income of SAR 96.6 million (SAR 0.56 per unit) in 2021, compared to SAR 45.1 million in 2020, fund manager Riyad Capital said in a bourse statement today, March 29.

 

Funds from operations (FFO) stood at SAR 127.5 million in 2021, an 84.4% jump from SAR 69.2 million a year earlier. 



Financials (M)

Item 2020 2021 Change‬
Rental Income 186.02 267.48 43.8 %
Funds from Operations(FFO) 69.17 127.51 84.4 %
Net Income 45.06 96.55 114.3 %
No of shares 171.70 171.70 -
Operating EPS (Riyals) 0.40 0.74 84.4 %
EPS (Riyals) 0.26 0.56 114.3 %

The higher profits were driven by increased rentals and income from hotels.



Interim Comparasion (M)

Compared With The
Item H2 2020 H2 2021 Change‬
Rental Income 97.62 158.30 62.2 %
Funds from Operations(FFO) 34.03 80.92 137.8 %
Net Income 21.16 63.38 199.6 %
No of shares 171.70 171.70 -
Operating EPS (Riyals) 0.20 0.47 137.8 %
EPS (Riyals) 0.12 0.37 199.6 %

Balance Sheet (Million)

Item 2020 2021 Change‬
Total Assets 2,521.15 3,072.59 21.9 %
Total Debt 883.91 1,367.33 54.7 %
Net assets attributable to the Unitholders Item 1,591.36 1,598.63 0.5 %
Market value of net assets 1,646.15 1,752.78 6.5 %

Net asset value (NAV) stood at SAR 1.598 billion (SAR 9.30 per unit) at the end of 2021.

 

The market value of assets stood at SAR 1.752 billion in 2021, with market value per unit as fair value at SAR 10.20.

View more financial results

 


Financial results (Million)

Period Rental Income Change Funds from Operations(FFO) Change Net Income Change
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 7.84 - 3.92 - 3.16 -
H2 2016 14.17 - 9.49 - 6.72 -
H1 2017 16.83 114.6 % 12.94 230.3 % 9.53 201.2 %
H2 2017 21.57 52.2 % 15.35 61.8 % 10.54 56.7 %
H1 2018 33.97 101.8 % 29.34 126.8 % 24.04 152.2 %
H2 2018 115.15 433.8 % 47.09 206.7 % 40.14 281.0 %
H1 2019 90.44 166.3 % 41.22 40.5 % 33.64 40.0 %
H2 2019 90.71 (21.2 %) 51.19 8.7 % 37.24 (7.2 %)
H1 2020 88.40 (2.3 %) 35.14 (14.7 %) 23.90 (29.0 %)
H2 2020 97.62 7.6 % 34.03 (33.5 %) 21.16 (43.2 %)
H1 2021 109.18 23.5 % 46.59 32.6 % 33.17 38.8 %
H2 2021 158.30 62.2 % 80.92 137.8 % 63.38 199.6 %
2021 267.48 43.8 % 127.51 84.4 % 96.55 114.3 %

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 2015 - - - - - - - -
H2 2015 - - - - - - - -
H1 2016 516.46 - - - 500.60 - 517.20 -
H2 2016 504.68 - - - 481.90 - 500.28 -
H1 2017 673.54 30.4 % 114.98 - 478.29 (4.5 %) 511.43 (1.1 %)
H2 2017 717.69 42.2 % 194.92 - 488.97 1.5 % 525.06 5.0 %
H1 2018 1,725.16 156.1 % 44.00 (61.7 %) 1,631.01 241.0 % 1,682.79 229.0 %
H2 2018 1,798.69 150.6 % 88.34 (54.7 %) 1,641.96 235.8 % 1,706.72 225.1 %
H1 2019 1,991.73 15.5 % 295.44 571.5 % 1,627.53 (0.2 %) 1,689.30 0.4 %
H2 2019 2,385.78 32.6 % 685.08 675.5 % 1,623.57 (1.1 %) 1,658.03 (2.9 %)
H1 2020 2,384.25 19.7 % 689.31 133.3 % 1,604.54 (1.4 %) 1,670.00 (1.1 %)
H2 2020 2,521.15 5.7 % 883.91 29.0 % 1,591.36 (2.0 %) 1,646.15 (0.7 %)
H1 2021 2,548.60 6.9 % 866.91 25.8 % 1,581.60 (1.4 %) 1,710.39 2.4 %
H2 2021 3,072.59 21.9 % 1,367.33 54.7 % 1,598.63 0.5 % 1,752.78 6.5 %

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 More than 100 41.40
Q2 2017 More than 100 26.55
Q4 2017 More than 100 17.20
Q2 2018 44.94 34.77
Q4 2018 21.00 17.64
Q2 2019 18.80 15.71
Q4 2019 21.10 16.18
Q2 2020 22.38 15.85
Q4 2020 32.39 21.10
Q2 2021 31.51 21.23
Q4 2021 17.52 13.26

Unit Data (Riyal)

Compared With The
Period Operating EPS EPS Book Value Market Value
H1 2015 - - - -
H2 2015 - - - -
H1 2016 0.08 0.06 10.01 10.34
H2 2016 0.19 0.13 9.64 10.01
H1 2017 0.26 0.19 9.57 10.23
H2 2017 0.31 0.21 9.78 10.50
H1 2018 0.17 0.14 9.50 9.80
H2 2018 0.27 0.23 9.56 9.94
H1 2019 0.24 0.20 9.48 9.84
H2 2019 0.30 0.22 9.46 9.66
H1 2020 0.20 0.14 9.35 9.73
H2 2020 0.20 0.12 9.27 9.59
H1 2021 0.27 0.19 9.21 9.96
H2 2021 0.47 0.37 9.31 10.20


Financial Ratios
Current
Number of Units (Million) 171.70
Net Income/Unit ( Riyal) (0.04 )
Funds from operations/Unit ( Riyal) 0.15
P/E (X) (TTM) NEG
Current Price/FFO (X) 41.49
Par Value ( Riyal) 9.51
Price/book 0.75
Asset Growth (%) (1.82 )
Revenue Growth (%) 4.1
Net Income Growth (%) (111.62 )
Adjusted P/E (Last12) (X) Neg
more

Share Price

Riyad REIT Fund
6.36
0.02 0.32 %

Riyad REIT Fund (RIYAD REIT)

More

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
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.