MEFIC REIT posts FFO of SAR 11.8 mln, net loss of SAR 133.1 mln in 2021

31/03/2022 Argaam Exclusive

View other reports

MEFIC REIT Fund widened its 2021 net loss to SAR 133.1 million, from SAR 66.2 million a year earlier.

 

Funds from operations (FFO) amounted to SAR 11.8 million in 2021, compared to SAR 2 million in 2020.



Financials (M)

Item 2020 2021 Change‬
Rental Income 65.87 56.07 (14.9 %)
Funds from Operations(FFO) 2.01 11.76 483.8 %
Net Income (66.24) (133.12) (101.0 %)
No of shares 73.28 73.28 -
Operating EPS (Riyals) 0.03 0.16 483.8 %
EPS (Riyals) (0.90) (1.82) (101.0 %)

The losses increased on lower lease revenue, and higher impairment loss of real estate investments.



Interim Comparasion (M)

Compared With The
Item 2020 2021 Change‬
Rental Income 25.58 28.69 12.1 %
Funds from Operations(FFO) (10.55) 5.22 149.5 %
Net Income (39.69) (32.56) 18.0 %
No of shares 73.28 73.28 -
Operating EPS (Riyals) (0.14) 0.07 149.5 %
EPS (Riyals) (0.54) (0.44) 18.0 %

Balance Sheet (Million)

Item 2020 2021 Change‬
Total Assets 1,171.10 1,040.94 (11.1 %)
Total Debt 439.64 460.30 4.7 %
Net assets attributable to the Unitholders Item 669.69 521.93 (22.1 %)
Market value of net assets 688.40 526.66 (23.5 %)

Net asset value (NAV) in 2021 stood at SAR 521.93 million, while net book value per unit reached SAR 7.12.

 

The 2021 market value of assets stood at SAR 526.66 million, with market value per unit at SAR 7.19.

 

View more financial results

 

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.