Musharaka REIT Fund (TADAWUL:4335)

Musharaka REIT Fund Income Statement

Financials in millions SAR. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Rental Revenue	86.97	95.36	95.52	100.62	88.78
Total Revenue	97.16	106.1	106.68	112.21	100.7
Revenue Growth (YoY	-8.43%	-0.55%	-4.93%	11.44%	7.75%
Property Expenses	30.21	33.53	37.74	23.41	17.9
Depreciation & Amortization	31.25	31.3	31.01	28.69	23.53
Other Operating Expenses	4.54	4.16	4.49	6.04	6.55
Total Operating Expenses	66	68.98	75.12	63.19	47.86
Operating Income	31.15	37.12	31.56	49.02	52.83
Interest Expense	-52.28	-56.74	-55.3	-32.28	-17.18
Interest & Investment Income	1.72	2.17	1.63	0.29	-
Other Non-Operating Income	1.45	0.9	-1.38	0.32	0.82
EBT Excluding Unusual Items	-17.97	-16.55	-23.49	17.35	36.47
Gain (Loss) on Sale of Investments	0.02	0.12	0.15	0.03	0.06
Asset Writedown	-91.95	-5.86	15	-8.44	-4.7
Pretax Income	-109.89	-22.29	-8.35	8.94	31.83
Income Tax Expense	-	-	-	-1.96	1.96
Net Income	-109.89	-22.29	-8.35	10.9	29.87
Net Income to Common	-109.89	-22.29	-8.35	10.9	29.87
Net Income Growth	-	-	-	-63.51%	-17.21%
Basic Shares Outstanding	88	88	88	88	88
Diluted Shares Outstanding	88	88	88	88	88
EPS (Basic)	-1.25	-0.25	-0.09	0.12	0.34
EPS (Diluted)	-1.25	-0.25	-0.09	0.12	0.34
EPS Growth	-	-	-	-63.51%	-17.21%
Dividend Per Share	0.240	0.240	0.170	0.500	0.600
Dividend Growth	-	41.18%	-66.00%	-16.67%	-7.69%
Operating Margin	32.06%	34.98%	29.59%	43.69%	52.47%
Profit Margin	-113.11%	-21.01%	-7.83%	9.71%	29.66%
EBITDA	54.25	60.23	54.41	70.42	69.32
EBITDA Margin	55.83%	56.77%	51.00%	62.76%	68.84%
D&A For Ebitda	23.09	23.12	22.85	21.4	16.49
EBIT	31.15	37.12	31.56	49.02	52.83
EBIT Margin	32.06%	34.98%	29.59%	43.69%	52.47%
Effective Tax Rate	-	-	-	-	6.16%
Revenue as Reported	97.16	106.1	106.68	112.21	100.7

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.