Logo of Swicorp Wabel REIT Fund
Swicorp Wabel REIT Fund reported a net profit of SAR 9.2. mln (SAR 0.08/unit) for Q4 2020, compared to SAR 2.5 million a year earlier, Swicorp, the fund manager, said in a bourse statement today, Jan. 14, 2021.
Funds from operations (FFO) reached SAR 9.4 million during the three-month period, compared to SAR 11.9 million in Q4 2019.
|
Income Statement (SAR mln) |
||
|
Item |
Q4 2019 |
Q4 2020 |
|
Rental Income |
21.3 |
18.8 |
|
Operating expenses |
(9.3) |
(9.4) |
|
Funds from Operations (FFO) |
11.9 |
9.4 |
|
Net profit |
2.5 |
9.2 |
|
Number of units (mln) |
118.0 |
118.0 |
|
FFO per unit (SAR) |
0.10 |
0.08 |
|
Earnings per unit (SAR) |
0.02 |
0.08 |
*Includes media revenue of SAR 3 mln for Q4 2020
The increase in the fund’s net profit was driven by impairment reversal of SAR 7.2 million during the period.
|
Balance Sheet (SAR mln) |
|||
|
Item |
Dec. 2019 |
Dec. 2020 |
Variation (%) |
|
Total Assets |
1158.8 |
1012.5 |
(13%) |
|
Liabilities |
26.7 |
34.2 |
(28%) |
|
NAV for Unit Holders |
978.2 |
978.2 |
(14%) |
|
NAV per Unit (SAR) |
8.29 |
8.29 |
(14%) |
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