Bonyan REIT posts FFO of SAR 112.3 mln, net profit of SAR 65.4 mln in 2021

31/03/2022 Argaam Exclusive

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Bonyan REIT Fund
9.67
0.02 0.21 %

Bonyan REIT Fund (BONYAN REIT)

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Bonyan REIT Fund posted a net profit of SAR 65.4 million (SAR 0.40 per unit) in 2021, a rise of 44% from SAR 45.4 million a year earlier.

 

Funds from operations (FFO) reached SAR 112.3 million in 2021, a rise of 35% from SAR 83.5 million in 2020.



Financials (M)

Item 2020 2021 Change‬
Rental Income 97.98 133.52 36.3 %
Funds from Operations(FFO) 83.49 112.34 34.5 %
Net Income 45.41 65.40 44.0 %
No of shares 162.88 162.88 -
Operating EPS (Riyals) 0.51 0.69 34.5 %
EPS (Riyals) 0.28 0.40 44.0 %

The net profit was fueled by higher income from real estate investments.



Interim Comparasion (M)

Compared With The
Item 2020 2021 Change‬
Rental Income 62.13 66.31 6.7 %
Funds from Operations(FFO) 53.88 53.57 (0.6 %)
Net Income 38.03 39.18 3.0 %
No of shares 162.88 162.88 -
Operating EPS (Riyals) 0.33 0.33 (0.6 %)
EPS (Riyals) 0.23 0.24 3.0 %

Balance Sheet (Million)

Item 2020 2021 Change‬
Total Assets 1,741.81 1,890.78 8.6 %
Total Debt 190.43 381.87 100.5 %
Net assets attributable to the Unitholders Item 1,429.70 1,390.85 (2.7 %)
Market value of net assets 1,631.37 1,661.32 1.8 %

Net asset value (NAV) stood at SAR 1.390 billion in 2021, while net book value per unit reached SAR 8.54.

 

The full-year market value of assets stood at SAR 1.657 billion, with market value per unit at SAR 10.18.

 

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