Bonyan REIT Fund posts SAR 29.6 mln FFO, SAR 7.4 mln net profit in H1 2020
View other reports
Bonyan REIT Fund reported a net profit of SAR 7.4 million (SAR 0.5/unit) during the first half of 2020, compared to SAR 32.3 million in the year-earlier period, Saudi Fransi Capital, fund manager, said in a bourse filing on Tuesday.
Funds from operations (FFO) stood at SAR 29.6 million in H1 2020, compared to SAR 55.2 million in the same period last year.
Financials (M)
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Rental Income | 103.10 | 68.35 | (33.7 %) |
| Funds from Operations(FFO) | 55.21 | 29.62 | (46.4 %) |
| Net Income | 32.33 | 7.39 | (77.2 %) |
| No of shares | 162.88 | 162.88 | - |
| Operating EPS (Riyals) | 0.34 | 0.18 | (46.4 %) |
| EPS (Riyals) | 0.20 | 0.05 | (77.2 %) |
The decline is driven by 40% decrease in income from real estate investments, as well as higher finance cost and other expenses.
Balance Sheet (Million)
| Item | 6m 2019 | 6m 2020 | Change |
|---|---|---|---|
| Total Assets | 1,753.30 | 1,749.57 | (0.2 %) |
| Total Debt | - | 149.85 | - |
| Net assets attributable to the Unitholders Item | 1,453.01 | 1,436.67 | (1.1 %) |
| Market value of net assets | 1,598.19 | 1,650.19 | 3.3 % |
Net asset value (NAV) stood at SAR 1.436 billion, while the NAV per unit reached SAR 8.82 during the six months.
The market value of assets reached SAAR 1.65 billion, with per unit market value stood at SAR 10.13.
The number of issued units totaled 162.8 million, with a yield of 1.06%.
Total expenses and fees for the period stood at SAR 30.5 million.
Financial results (Million)
| Period | Rental Income | Change | Funds from Operations(FFO) | Change | Net Income | Change |
|---|---|---|---|---|---|---|
| H1 2020 | 68.35 | (33.7 %) | 29.62 | (46.4 %) | 7.39 | (77.2 %) |
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 2020 | 1,749.57 | (0.2 %) | 149.85 | - | 1,436.67 | (1.1 %) | 1,650.19 | 3.3 % |
Multiple Ratios (End of Period Price)
| Period | Price/ Earnings (P/E)(x) | Price/FFO(x) |
|---|---|---|
| Q2 2020 | 20.98 | 15.73 |
Unit Data (Riyal)
| Period | Operating EPS | EPS | Book Value | Market Value |
|---|---|---|---|---|
| H1 2020 | 0.18 | 0.05 | 8.82 | 10.13 |
| Current | |
| Number of Units (Million) | 162.88 |
| Net Income/Unit ( Riyal) | 0.76 |
| Funds from operations/Unit ( Riyal) | 0.83 |
| P/E (X) (TTM) | 12.81 |
| Current Price/FFO (X) | 11.77 |
| Par Value ( Riyal) | 10.00 |
| Price/book | 1.15 |
| Asset Growth (%) | 8.0 |
| Revenue Growth (%) | 2.0 |
| Net Income Growth (%) | 76.2 |
| Adjusted P/E (Last12) (X) | 12.81 |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}