Jadwa REIT Al Haramain posts FFO of SAR 6.7 mln, net loss of SAR 9.2 mln in 2021

31/03/2022 Argaam Exclusive

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Share Price

Jadwa REIT Al Haramain Fund
6.28
(0.05) (0.79 %)

Jadwa REIT Al Haramain Fund (JADWA REIT ALHARAMAIN)

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Jadwa REIT Al Haramain Fund cut its 2021 net loss of SAR 9.2 million, from SAR 68 million a year earlier.

 

Funds from operations (FFO) amounted to SAR 6.7 million in 2021, compared to SAR 1.7 million in 2020.



Financials (M)

Item 2020 2021 Change‬
Rental Income 8.07 16.00 98.3 %
Funds from Operations(FFO) (1.72) 6.69 489.6 %
Net Income (68.05) (9.16) 86.5 %
No of shares 66.00 66.00 -
Operating EPS (Riyals) (0.03) 0.10 489.6 %
EPS (Riyals) (1.03) (0.14) 86.5 %

The narrowed losses were attributed to a lease contract termination fee of SAR 16 million. The fund recorded a provision for real estate investments loss of SAR 4.8 million in 2021, compared to a provision of SAR 68 million a year earlier.



Interim Comparasion (M)

Compared With The
Item 2020 2021 Change‬
Funds from Operations(FFO) (0.09) 3.31 3946.5 %
Net Income 0.01 (0.04) (575.0 %)
No of shares 66.00 66.00 -
Operating EPS (Riyals) 0.00 0.05 3946.5 %
EPS (Riyals) 0.00 0.00 (575.0 %)

Balance Sheet (Million)

Item 2020 2021 Change‬
Total Assets 789.36 793.66 0.5 %
Total Debt 232.01 252.11 8.7 %
Net assets attributable to the Unitholders Item 548.41 539.26 (1.7 %)
Market value of net assets 631.45 584.18 (7.5 %)

 

Net asset value (NAV) in 2021 stood at SAR 539.26 million, while net book value per unit reached SAR 8.17.

 

The full-year market value of assets stood at SAR 584.18 million, with market value per unit at SAR 8.85.

 

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