Al Rajhi REIT Fund Income Statement

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

Millions SAR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Rental Revenue	231.07	237.69	192.07	158.16	130.28
Gain (Loss) on Sale of Assets (Rev)	-	17.66	-	-	-
Gain (Loss) on Sale of Investments (Rev)	6.2	3.55	2.42	1.77	0.47
Other Revenue	0.42	1.35	0.84	-	-
Total Revenue	237.69	260.26	201.88	159.93	130.75
Revenue Growth (YoY	-8.67%	28.91%	26.23%	22.32%	-22.57%
Property Expenses	32.43	30.45	25.46	20.06	16.52
Depreciation & Amortization	50.02	48.36	38.27	29.93	28.6
Other Operating Expenses	4.69	4.29	3.28	5.85	7.15
Total Operating Expenses	89.37	83.55	68.53	43.57	62.36
Operating Income	148.33	176.71	133.36	116.36	68.39
Interest Expense	-50.57	-54.84	-52.17	-32.69	-21.03
Other Non-Operating Income	-	-	0.04	0.04	4.63
EBT Excluding Unusual Items	97.76	121.86	81.24	83.71	51.99
Asset Writedown	49.63	65.39	-5.69	29.7	-
Pretax Income	147.39	187.25	75.55	113.41	51.99
Income Tax Expense	-	-	-	-	227.07
Net Income	147.39	187.25	75.55	113.41	-175.08
Net Income to Common	147.39	187.25	75.55	113.41	-175.08
Net Income Growth	-21.29%	147.85%	-33.39%	-	-
Basic Shares Outstanding	276	276	276	162	162
Diluted Shares Outstanding	276	276	276	162	162
Shares Change (YoY)	-	-	70.28%	-	-
EPS (Basic)	0.53	0.68	0.27	0.70	-1.08
EPS (Diluted)	0.53	0.68	0.27	0.70	-1.08
EPS Growth	-21.29%	147.85%	-60.88%	-	-
Dividend Per Share	0.520	0.545	0.540	0.660	0.560
Dividend Growth	-4.59%	0.93%	-18.18%	17.86%	-
Operating Margin	62.40%	67.90%	66.06%	72.76%	52.30%
Profit Margin	62.01%	71.95%	37.42%	70.91%	-133.90%
EBITDA	198.35	224.24	171.62	146.3	96.98
EBITDA Margin	83.45%	86.16%	85.01%	91.48%	74.17%
D&A For Ebitda	50.02	47.54	38.27	29.93	28.6
EBIT	148.33	176.71	133.36	116.36	68.39
EBIT Margin	62.40%	67.90%	66.06%	72.76%	52.30%
Funds From Operations (FFO)	-	-	-	-	80.59
Adjusted Funds From Operations (AFFO)	-	-	-	-	80.59
FFO Payout Ratio	-	-	-	-	94.05%
Effective Tax Rate	-	-	-	-	436.75%
Revenue as Reported	237.69	260.26	201.88	159.93	130.75

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