Jadwa REIT Saudi Fund posted a net profit of SAR 27.9 million (SAR 0.15 per unit) in 2021, a decline of 5% from SAR 154 million a year earlier.
Funds from operations (FFO) reached SAR 106.9 million in 2021, a drop of 5% from SAR 112.3 million in 2020.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Rental Income | 136.63 | 145.20 | 6.3 % |
| Funds from Operations(FFO) | 112.29 | 106.91 | (4.8 %) |
| Net Income | 154.09 | 27.85 | (81.9 %) |
| No of shares | 158.00 | 186.51 | 18.0 % |
| Operating EPS (Riyals) | 0.71 | 0.57 | (19.3 %) |
| EPS (Riyals) | 0.98 | 0.15 | (84.7 %) |
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Rental Income | 69.99 | 73.97 | 5.7 % |
| Funds from Operations(FFO) | 57.38 | 53.47 | (6.8 %) |
| Net Income | 118.42 | 0.81 | (99.3 %) |
| No of shares | 158.00 | 186.51 | 18.0 % |
| Operating EPS (Riyals) | 0.36 | 0.29 | (21.1 %) |
| EPS (Riyals) | 0.75 | 0.00 | (99.4 %) |
| Item | 2021 | 2021 | Change |
|---|---|---|---|
| Rental Income | 71.23 | 73.97 | 3.8 % |
| Funds from Operations(FFO) | 53.44 | 53.47 | 0.1 % |
| Net Income | 27.04 | 0.81 | (97.0 %) |
| No of shares | 158.00 | 186.51 | 18.0 % |
| Operating EPS (Riyals) | 0.34 | 0.29 | (15.2 %) |
| EPS (Riyals) | 0.17 | 0.00 | (97.5 %) |
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Total Assets | 2,161.63 | 2,462.55 | 13.9 % |
| Total Debt | 573.12 | 599.99 | 4.7 % |
| Net assets attributable to the Unitholders Item | 1,576.45 | 1,851.06 | 17.4 % |
| Market value of net assets | 1,850.01 | 2,093.10 | 13.1 % |
The profit decline was attributed to higher operating expenses and finance charges. The fund reported SAR 12 million unrealized losses from financial assets at fair value in 2021, compared to a profit of SAR 80 million in 2020.
Net asset value (NAV) stood at SAR 1.851 billion in 2021, while net book value per unit reached SAR 9.92.
The full-year market value of assets stood at SAR 2.093 billion, with market value per unit at SAR 11.22.
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