Jadwa REIT AlHaramain Fund posted a net loss of SAR 68.1 million (SAR -1.03 per unit) for 2020, compared to a profit of SAR 19 million for the same period last year, according to a bourse filing by fund manager Jadwa Investment.
Losses from funds from operations (FFO) reached SAR 1.7 million in 2020, compared to a profit of SAR 32.6 million in the year-earlier period.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Rental Income | 52.57 | 8.07 | (84.7 %) |
| Funds from Operations(FFO) | 32.56 | (1.72) | (105.3 %) |
| Net Income | 18.97 | (68.05) | (458.6 %) |
| No of shares | 66.00 | 66.00 | - |
| Operating EPS (Riyals) | 0.49 | (0.03) | (105.3 %) |
| EPS (Riyals) | 0.29 | (1.03) | (458.6 %) |
The losses were mainly attributed to lower rental income falling SAR 44.5 million and impairment loss on investment properties worth SAR 59.8 million.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Rental Income | 25.62 | - | - |
| Funds from Operations(FFO) | 17.57 | (0.09) | (100.5 %) |
| Net Income | 9.85 | 0.01 | (99.9 %) |
| No of shares | 66.00 | 66.00 | - |
| Operating EPS (Riyals) | 0.27 | 0.00 | (100.5 %) |
| EPS (Riyals) | 0.15 | 0.00 | (99.9 %) |
| Item | 2020 | 2020 | Change |
|---|---|---|---|
| Rental Income | 8.07 | - | - |
| Funds from Operations(FFO) | (1.63) | (0.09) | 94.7 % |
| Net Income | (68.05) | 0.01 | 100.0 % |
| No of shares | 66.00 | 66.00 | - |
| Operating EPS (Riyals) | (0.02) | 0.00 | 94.7 % |
| EPS (Riyals) | (1.03) | 0.00 | 100.0 % |
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Total Assets | 817.51 | 789.36 | (3.4 %) |
| Total Debt | 181.42 | 232.01 | 27.9 % |
| Net assets attributable to the Unitholders Item | 629.66 | 548.41 | (12.9 %) |
| Market value of net assets | 712.14 | 631.45 | (11.3 %) |
Net asset value (NAV) stood at SAR 548.41 million, while the NAV per unit reached SAR 8.31 last year.
The market value of assets reached SAR 631.45 million, while the market value per unit stood at SAR 9.57 in 2020.
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