Al Rajhi REIT Fund Income Statement

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

Millions SAR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Rental Revenue	235.17	237.69	192.07	158.16	130.28	168.86
Gain (Loss) on Sale of Assets (Rev)	17.66	17.66	-	-	-	-
Gain (Loss) on Sale of Investments (Rev)	5.16	3.55	2.42	1.77	0.47	-
Other Revenue	0.86	1.35	0.84	-	-	-
Total Revenue	258.85	260.26	201.88	159.93	130.75	168.86
Revenue Growth (YoY	9.67%	28.91%	26.23%	22.32%	-22.57%	45.65%
Property Expenses	30.67	30.45	25.46	20.06	16.52	18.2
Depreciation & Amortization	48.98	48.36	38.27	29.93	28.6	29.21
Other Operating Expenses	4.71	4.29	3.28	5.85	7.15	6.27
Total Operating Expenses	100.37	83.55	68.53	43.57	62.36	66.49
Operating Income	158.48	176.71	133.36	116.36	68.39	102.37
Interest Expense	-52.53	-54.84	-52.17	-32.69	-21.03	-26.52
Interest & Investment Income	-	-	-	-	-	1.21
Other Non-Operating Income	-	-	0.04	0.04	4.63	0.3
EBT Excluding Unusual Items	105.95	121.86	81.24	83.71	51.99	77.35
Asset Writedown	80.9	65.39	-5.69	29.7	-	-64.9
Pretax Income	186.85	187.25	75.55	113.41	51.99	12.45
Income Tax Expense	-	-	-	-	227.07	-
Net Income	186.85	187.25	75.55	113.41	-175.08	12.45
Net Income to Common	186.85	187.25	75.55	113.41	-175.08	12.45
Net Income Growth	30.55%	147.85%	-33.39%	-	-	-77.81%
Basic Shares Outstanding	276	276	276	162	162	162
Diluted Shares Outstanding	276	276	276	162	162	162
Shares Change (YoY)	-	-	70.28%	-	-	-
EPS (Basic)	0.68	0.68	0.27	0.70	-1.08	0.08
EPS (Diluted)	0.68	0.68	0.27	0.70	-1.08	0.08
EPS Growth	30.55%	147.85%	-60.88%	-	-	-77.81%
Dividend Per Share	0.530	0.545	0.540	0.660	0.560	0.560
Dividend Growth	-0.94%	0.93%	-18.18%	17.86%	-	5.66%
Operating Margin	61.22%	67.90%	66.06%	72.76%	52.30%	60.62%
Profit Margin	72.18%	71.95%	37.42%	70.91%	-133.90%	7.37%
EBITDA	206.64	224.24	171.62	146.3	96.98	131.58
EBITDA Margin	79.83%	86.16%	85.01%	91.48%	74.17%	77.92%
D&A For Ebitda	48.16	47.54	38.27	29.93	28.6	29.21
EBIT	158.48	176.71	133.36	116.36	68.39	102.37
EBIT Margin	61.22%	67.90%	66.06%	72.76%	52.30%	60.62%
Funds From Operations (FFO)	-	-	-	-	80.59	106.57
Adjusted Funds From Operations (AFFO)	-	-	-	-	80.59	106.57
FFO Payout Ratio	-	-	-	-	94.05%	62.28%
Effective Tax Rate	-	-	-	-	436.75%	-
Revenue as Reported	258.85	260.26	201.88	159.93	130.75	168.86

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