Alkhabeer REIT Fund swung to a net profit of SAR 43.4 million in 2022, against a net loss of SAR 33.8 million a year earlier.
Funds from operations (FFO) went 2% lower to SAR 46.5 million in the 12-month period, from SAR 47.3 million in 2021.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Rental Income | 117.78 | 118.76 | 0.8 % |
| Funds from Operations(FFO) | 47.25 | 46.53 | (1.5 %) |
| Net Income | (33.83) | 43.38 | 228.2 % |
| No of shares | 141.01 | 141.01 | 0.0 % |
| Operating EPS (Riyals) | 0.34 | 0.33 | (1.5 %) |
| EPS (Riyals) | (0.24) | 0.31 | 228.2 % |
The fund recorded a reversal of impairment in real estate investments of SAR 40.25 million in 2022, compared to a provision of SAR 41.14 million a year earlier.
It also reported a decline in other expenses and a slight rise in rental income. On the other hand, Alkhabeer REIT Fund recorded higher fund management and custodian fees, finance costs and depreciation of real estate investments
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Rental Income | 63.13 | 59.17 | (6.3 %) |
| Funds from Operations(FFO) | 16.20 | 19.83 | 22.4 % |
| Net Income | (16.37) | 5.95 | 136.3 % |
| No of shares | 141.01 | 141.01 | 0.0 % |
| Operating EPS (Riyals) | 0.11 | 0.14 | 22.4 % |
| EPS (Riyals) | (0.12) | 0.04 | 136.3 % |
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Total Assets | 1,933.64 | 1,883.27 | (2.6 %) |
| Total Debt | 753.88 | 753.12 | (0.1 %) |
| Net assets attributable to the Unitholders Item | 1,096.83 | 1,069.70 | (2.5 %) |
| Market value of net assets | 1,177.20 | 1,187.48 | 0.9 % |
In Q4 2022, net losses decreased by 67.9% to SAR 3.6 million, from SAR 11.2 million in Q4 2021.
The company recorded a profit of SAR 911,000 in Q3 2022.
Total shareholders’ equity, after minority interest, decreased to SAR 184.9 million as of Dec. 31, 2022, from SAR 207.9 million a year earlier.
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}