Al Maather REIT posts SAR 18.5 mln FFO, SAR 11.3 mln profit in H1 2021

18/08/2021 Argaam Exclusive

Al Maather REIT Fund reported a net profit of SAR 11.3 million (SAR 0.18/unit) for the first six months of 2021, surging from SAR 3.9 million in the similar period last year, fund manager Osool & Bakheet Investment Co. said in a bourse statement.

 

Funds from operations (FFO) stood at SAR 18.5 million in H1 2021, an 81.3% hike from SAR 10.2 million in H1 2020.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Rental Income 26.78 24.95 (6.8 %)
Funds from Operations(FFO) 10.16 18.49 81.9 %
Net Income 3.90 11.28 189.6 %
No of shares 61.37 61.37 -
Operating EPS (Riyals) 0.17 0.30 81.9 %
EPS (Riyals) 0.06 0.18 189.6 %

The increase in profit is attributed to lower fund management fees, and Zakat and other expenses.



Net asset value (NAV) stood at SAR 536.7 million and net book value stood at SAR 8.75 by the end of June 30, 2021.

 

The market value of assets stood at SAR 593.93 million in H1 2021, with market value per unit as fair value at SAR 9.68.

Balance Sheet (Million)

Item 6m 2020 6m 2021 Change‬
Total Assets 639.92 661.16 3.3 %
Total Debt 60.47 100.46 66.1 %
Net assets attributable to the Unitholders Item 560.67 536.75 (4.3 %)
Market value of net assets 578.45 593.93 2.7 %

View more financial results

 

View other reports

Share Price

AL Maather REIT Fund
9.40
0.05 0.53 %

AL Maather REIT Fund (AL MAATHER REIT)

More


Financial Ratios
Current
Number of Units (Million) 61.37
Net Income/Unit ( Riyal) 0.67
Funds from operations/Unit ( Riyal) 0.70
P/E (X) (TTM) 14.05
Current Price/FFO (X) 13.36
Par Value ( Riyal) 10.00
Price/book 1.12
Asset Growth (%) (1.11 )
Revenue Growth (%) 5.9
Net Income Growth (%) (6.46 )
Adjusted P/E (Last12) (X) 14.05
more


Financial results (Million)

Period Rental Income Change Funds from Operations(FFO) Change Net Income Change
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 25.89 - 20.66 - 13.69 -
H2 2018 26.41 - 20.77 - (9.29) -
H1 2019 25.61 (1.1 %) 20.85 0.9 % 14.06 2.8 %
H2 2019 27.68 4.8 % 19.65 (5.4 %) 7.34 179.0 %
H1 2020 26.78 4.6 % 10.16 (51.3 %) 3.90 (72.3 %)
H2 2020 24.48 (11.6 %) 15.83 (19.5 %) (11.26) (253.5 %)
H1 2021 24.95 (6.8 %) 18.49 81.9 % 11.28 189.6 %

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 - - - - - - - -
H2 2017 - - - - - - - -
H1 2018 643.58 - - - 621.99 - 599.21 -
H2 2018 635.68 - - - 612.70 - 615.74 -
H1 2019 611.15 (5.0 %) 6.68 - 587.48 (5.5 %) 595.52 (0.6 %)
H2 2019 646.58 1.7 % 28.06 - 594.82 (2.9 %) 602.71 (2.1 %)
H1 2020 639.92 4.7 % 60.47 805.4 % 560.67 (4.6 %) 578.45 (2.9 %)
H2 2020 668.84 3.4 % 90.68 223.2 % 549.41 (7.6 %) 544.47 (9.7 %)
H1 2021 661.16 3.3 % 100.46 66.1 % 536.75 (4.3 %) 593.93 2.7 %

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 - -
Q2 2018 - -
Q4 2018 More than 100 11.27
Q2 2019 More than 100 11.32
Q4 2019 25.15 13.29
Q2 2020 39.72 14.97
Q4 2020 NEG 21.02
Q2 2021 More than 100 16.81

Unit Data (Riyal)

Compared With The
Period Operating EPS EPS Book Value Market Value
H1 2017 - - - -
H2 2017 - - - -
H1 2018 0.34 0.22 10.14 9.76
H2 2018 0.34 (0.15) 9.98 10.03
H1 2019 0.34 0.23 9.57 9.70
H2 2019 0.32 0.12 9.69 9.82
H1 2020 0.17 0.06 9.14 9.43
H2 2020 0.26 (0.18) 8.95 8.87
H1 2021 0.30 0.18 8.75 9.68

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.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request