Income Statement Alinma Retail REIT Fund

Stocks

4345

SA14HG523SL1

Specialized REITs

Market Closed - Saudi Arabian S.E. Other stock markets 08:20:00 2026-06-11 am EDT			5-day change	1st Jan Change
4.880 ^SAR	+0.21%		+0.62%	+6.55%

Mar. 30	Alinma Retail REIT Fund Reports Earnings Results for the Full Year Ended December 31, 2025	CI
Jan. 04	Alinma Retail REIT Declares Stable H2 FY25 Dividend	MT

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Published financial data: ALINMA RETAIL REIT FUND

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Rental Revenues	59.05M	48.74M	51.63M	79.84M	102M
Gain (Loss) on Sale of Assets, Total (Rev)	-	-	-	108M	-
Total Revenues	59.05M	48.74M	51.63M	188M	102M
Property Expenses	29.87M	20.19M	20.28M	20.75M	16.88M
Selling General & Admin Expenses, Total	4.19M	8.92M	8.12M	6.53M	6.59M
Depreciation & Amortization - (IS) - (Collected)	31.13M	31.81M	38.19M	35.17M	37.55M
Provision for Bad Debts	18.24M	10.65M	-22.51M	14.37M	-3.8M
Total Operating Expenses	83.43M	71.57M	44.08M	76.83M	57.22M
Operating Income (REIT / Utility Template)	-24.39M	-22.83M	7.55M	111M	44.49M
Interest Expense, Total	-326K	-312K	-4.47M	-17.59M	-43.03M
Net Interest Expenses	-326K	-312K	-4.47M	-17.59M	-43.03M
Other Non Operating Income (Expenses)	-209K	304K	192K	925K	60.48K
EBT, Excl. Unusual Items	-24.92M	-22.84M	3.28M	94.24M	1.52M
Gain (Loss) on Sale of Investments	-	-	114K	2.5M	2.33M
Asset Writedown	10.07M	19.42M	-11.47M	-88.62M	-24.86M
Legal Settlements	-	-	-2.14M	-	-
EBT, Incl. Unusual Items	-14.86M	-3.42M	-10.22M	8.13M	-21.01M
Income Tax Expense	-	182K	-	-	-
Earnings From Continuing Operations	-14.86M	-3.6M	-10.22M	8.13M	-21.01M
Net Income to Company	-14.86M	-3.6M	-10.22M	8.13M	-21.01M
Net Income - (IS)	-14.86M	-3.6M	-10.22M	8.13M	-21.01M
Net Income to Common Incl Extra Items	-14.86M	-3.6M	-10.22M	8.13M	-21.01M
Net Income to Common Excl. Extra Items	-14.86M	-3.6M	-10.22M	8.13M	-21.01M
Per Share Items
Net EPS - Basic	-0.13	-0.03	-0.09	0.07	-0.18
Basic EPS - Continuing Operations	-0.13	-0.03	-0.09	0.07	-0.18
Basic Weighted Average Shares Outstanding	118M	118M	118M	118M	118M
Net EPS - Diluted	-0.13	-0.03	-0.09	0.07	-0.18
Diluted EPS - Continuing Operations	-0.13	-0.03	-0.09	0.07	-0.18
Diluted Weighted Average Shares Outstanding	118M	118M	118M	118M	118M
Normalized Basic EPS	-0.13	-0.12	0.02	0.5	0.01
Normalized Diluted EPS	-0.13	-0.12	0.02	0.5	0.01
Dividend Per Share	-	0.22	0.3	0.32	0.35
Payout Ratio	-2.72	-716.04	-294.41	464.68	-196.6
Supplemental Items
EBITDA	6.26M	8.49M	45.27M	146M	82.04M
EBITA	-24.39M	-22.83M	7.55M	111M	44.49M
EBIT	-24.39M	-22.83M	7.55M	111M	44.49M
EBITDAR	-	-	-	-	-
Total Revenues (As Reported)	59.05M	-	51.63M	188M	102M
Effective Tax Rate - (Ratio)	-	-5.31	-	-	-
Normalized Net Income	-15.58M	-14.28M	2.05M	58.9M	948K
Interest on Long-Term Debt	326K	312K	4.47M	17.59M	84.89M
Supplemental Operating Expense Items
Marketing Expenses	-	-	-	-	-
Selling and Marketing Expenses	-	-	-	-	-
General and Administrative Expenses	4.19M	8.92M	8.12M	6.53M	6.59M
Net Rental Expense, Total	-	-	-	-	-
Maintenance & Repair Expenses, Total	-	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Gross Property Plant And Equipment	1.02B	1.04B	1.08B	1.26B	1.64B
Accumulated Depreciation	-122M	-153M	-192M	-186M	-224M
Net Property Plant And Equipment	897M	885M	892M	1.07B	1.42B
Total Real Estate Assets	897M	885M	892M	1.07B	1.42B
Cash And Equivalents	29.35M	6.92M	14.17M	3.74M	10.78M
Accounts Receivable, Total	11.7M	4.53M	8.96M	4.3M	3.72M
Other Receivables	-	9.05M	1.47M	1.47M	0
Investment In Debt and Equity Securities	-	15.05M	25.62M	16.11M	-
Other Current Assets, Total	8.78M	2.58M	68.36K	-	149K
Trading Asset Securities, Total	-	-	1.95M	54.61M	26.27M
Total Assets	947M	923M	944M	1.15B	1.46B
Liabilities
Current Portion of Leases	650K	650K	650K	650K	650K
Long-Term Debt	-	-	55.1M	257M	655M
Long-Term Leases	7.01M	6.68M	6.32M	5.96M	5.57M
Accrued Expenses, Total	1.1M	8.27M	7.67M	11.82M	7.52M
Current Income Taxes Payable	997K	1.18M	997K	997K	-
Unearned Revenue, Current	1.56M	409K	8.19M	42.16M	17.58M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	2.49M	100K	100K	82.56K	1.39M
Total Liabilities	13.81M	17.28M	79.03M	319M	687M
Common Stock, Total	933M	906M	865M	836M	773M
Retained Earnings	-	-	-	-	-
Total Common Equity	933M	906M	865M	836M	773M
Total Equity	933M	906M	865M	836M	773M
Total Liabilities And Equity	947M	923M	944M	1.15B	1.46B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	118M	118M	118M	118M	118M
ECS Total Common Shares Outstanding	118M	118M	118M	118M	118M
Book Value / Share	7.91	7.68	7.33	7.08	6.55
Tangible Book Value	933M	906M	865M	836M	773M
Tangible Book Value Per Share	7.91	7.68	7.33	7.08	6.55
Total Debt	7.66M	7.33M	62.07M	264M	661M
Net Debt	-21.68M	410K	45.95M	206M	624M
Account Code - Inventory Valuation	3	3	3	3	3
Buildings, Total	1.02B	1.04B	1.08B	1.26B	1.64B
Accumulated Allowance for Doubtful Accounts (Supple)	39.14M	49.79M	27.28M	41.65M	26.43M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-14.86M	-3.6M	-10.22M	8.13M	-21.01M
Depreciation, Depletion & Amortization	31.13M	31.81M	38.19M	35.17M	37.55M
Total Depreciation, Depletion & Amortization	31.13M	31.81M	38.19M	35.17M	37.55M
Amortization of Deferred Charges, Total	-	-	-	-	318K
(Gain) Loss On Sale of Asset - (CF)	-	-	-	-108M	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-114K	-2.5M	-2.33M
Total Asset Writedown	-10.07M	-19.42M	11.47M	88.62M	24.86M
Provision and Write-off of Bad Debts	18.24M	10.65M	-22.51M	14.37M	-3.8M
Change in Accounts Receivable	2.1M	-5.25M	21.48M	-11.5M	3.49M
Change in Unearned Revenues	-18.22M	-1.16M	7.26M	33.97M	-24.58M
Change in Other Net Operating Assets (Collected)	3.02M	5.91M	6.6M	6.01M	-1.78M
Other Operating Activities	-555K	446K	4.1M	16.25M	42.69M
Cash from Operations	10.79M	19.38M	56.27M	80.62M	55.4M
Acquisition of Real Estate Assets, Total	-1.72M	-365K	-56.98M	-223M	-408M
Sale of Real Estate Assets, Total	-	-	-	25M	-
Net Sale / Acquisition of Real Estate Assets	-1.72M	-365K	-56.98M	-198M	-408M
Investment in Marketable and Equity Securities, Total	-	-15M	-12.34M	-40.49M	45.42M
Other Investing Activities, Total	-	-	112K	170K	1.38M
Cash from Investing	-1.72M	-15.36M	-69.2M	-239M	-361M
Long-Term Debt Issued, Total	-	-	55.1M	202M	399M
Total Debt Issued	-	-	55.1M	202M	399M
Long-Term Debt Repaid, Total	-650K	-650K	-650K	-650K	-2.64M
Total Debt Repaid	-650K	-650K	-650K	-650K	-2.64M
Issuance of Common Stock	-	-	-	-	-
Common Dividends Paid	-404K	-25.8M	-30.09M	-37.78M	-41.3M
Common & Preferred Stock Dividends Paid	-404K	-25.8M	-30.09M	-37.78M	-41.3M
Other Financing Activities, Total	-	-	-4.17M	-16.3M	-42.45M
Cash from Financing	-1.05M	-26.45M	20.19M	148M	313M
Net Change in Cash	8.02M	-22.43M	7.26M	-10.43M	7.04M
Supplemental Items
Cash Interest Paid	-	-	4.17M	16.3M	42.45M
Net Debt Issued / Repaid	-650K	-650K	54.45M	202M	396M
Levered Free Cash Flow	19.54M	25.48M	52.78M	136M	12.11M
Unlevered Free Cash Flow	19.74M	25.67M	55.57M	147M	38.68M
Change In Net Working Capital	-3.86M	-8.14M	-12.65M	-42.83M	26.67M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-1.58	-1.53	0.51	6.6	2.13
Return on Total Capital	-1.61	-1.54	0.51	6.84	2.19
Return On Equity %	-1.58	-0.39	-1.15	0.96	-2.61
Return on Common Equity	-1.58	-0.39	-1.15	0.96	-2.61
Margin Analysis
Gross Profit Margin %	49.41	58.57	60.72	88.95	83.4
SG&A Margin	7.1	18.3	15.72	3.48	6.48
EBITDA Margin %	10.6	17.43	87.67	77.56	80.66
EBITA Margin %	-41.31	-46.85	14.63	59.08	43.74
EBIT Margin %	-41.31	-46.85	14.63	59.08	43.74
Income From Continuing Operations Margin %	-25.16	-7.39	-19.79	4.33	-20.65
Net Income Margin %	-25.16	-7.39	-19.79	4.33	-20.65
Net Avail. For Common Margin %	-25.16	-7.39	-19.79	4.33	-20.65
Normalized Net Income Margin	-26.38	-29.29	3.97	31.38	0.93
Levered Free Cash Flow Margin	33.09	52.27	102.21	72.62	11.91
Unlevered Free Cash Flow Margin	33.44	52.67	107.62	78.47	38.04
Asset Turnover
Asset Turnover	0.06	0.05	0.06	0.18	0.08
Fixed Assets Turnover	0.07	0.05	0.06	0.19	0.08
Receivables Turnover (Average Receivables)	2.59	6.01	6.45	12.04	36.97
Short Term Liquidity
Current Ratio	7.33	2.18	1.51	1.15	1.51
Quick Ratio	6.04	1.93	1.51	1.15	1.5
Operating Cash Flow to Current Liabilities	1.59	1.83	3.2	1.45	2.04
Days Sales Outstanding (Average Receivables)	141.06	60.78	56.62	30.39	9.87
Long Term Solvency
Total Debt/Equity	0.82	0.81	7.17	31.58	85.45
Total Debt / Total Capital	0.81	0.8	6.69	24	46.08
LT Debt/Equity	0.75	0.74	7.1	31.51	85.37
Long-Term Debt / Total Capital	0.75	0.73	6.62	23.94	46.03
Total Liabilities / Total Assets	1.46	1.87	8.37	27.63	47.06
EBIT / Interest Expense	-74.73	-73.22	1.69	6.31	1.03
EBITDA / Interest Expense	20.64	28.77	10.24	8.3	1.91
(EBITDA - Capex) / Interest Expense	20.64	28.77	10.24	8.3	1.91
Total Debt / EBITDA	1.14	0.82	1.36	1.81	8.06
Net Debt / EBITDA	-3.22	0.05	1	1.41	7.6
Total Debt / (EBITDA - Capex)	1.14	0.82	1.36	1.81	8.06
Net Debt / (EBITDA - Capex)	-3.22	0.05	1	1.41	7.6
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	9.01	-17.46	5.95	263.59	-45.82
Gross Profit, 1 Yr. Growth %	2.47	-21.3	9.84	432.6	-49.2
EBITDA, 1 Yr. Growth %	-71.39	35.74	446.15	221.63	-43.84
EBITA, 1 Yr. Growth %	139.11	-6.38	-132.78	1.37K	-59.89
EBIT, 1 Yr. Growth %	139.11	-6.38	-132.78	1.37K	-59.89
Earnings From Cont. Operations, 1 Yr. Growth %	-90.16	-75.75	183.64	-179.55	-358.39
Net Income, 1 Yr. Growth %	-90.16	-75.75	183.64	-179.55	-358.39
Diluted EPS Before Extra, 1 Yr. Growth %	-90.16	-75.75	183.64	-179.55	-358.39
Normalized Net Income, 1 Yr. Growth %	-2.56K	-8.36	-114.35	2.78K	-98.39
Net Property, Plant and Equip., 1 Yr. Growth %	-2.11	-1.34	0.83	20.44	32.14
Accounts Receivable, 1 Yr. Growth %	-65.51	-61.32	26.92	-52.03	108.9
Total Assets, 1 Yr. Growth %	-3.63	-2.51	2.32	22.27	26.51
Common Equity, 1 Yr. Growth %	-1.57	-2.92	-4.45	-3.42	-7.46
Tangible Book Value, 1 Yr. Growth %	-1.57	-2.92	-4.45	-3.42	-7.46
Cash From Operations, 1 Yr. Growth %	-83.94	79.63	190.29	43.27	-32.11
Levered Free Cash Flow, 1 Yr. Growth %	-71.86	30.39	108.21	158.31	-91.12
Unlevered Free Cash Flow, 1 Yr. Growth %	-71.65	30.03	117.56	165.11	-73.74
Dividend Per Share, 1 Yr. Growth %	-	-	33.33	6.67	9.38
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-19.75	-5.15	-6.49	96.27	40.35
Gross Profit, 2 Yr. CAGR %	-30.76	0.13	-7.02	141.87	64.49
EBITDA, 2 Yr. CAGR %	-60.45	-37.68	168.96	319.11	34.62
EBITA, 2 Yr. CAGR %	180.84	49.62	-44.35	119.41	142.69
EBIT, 2 Yr. CAGR %	180.84	49.62	-44.35	119.41	142.69
Earnings From Cont. Operations, 2 Yr. CAGR %	-49.94	-84.55	-17.06	50.21	43.37
Net Income, 2 Yr. CAGR %	-49.94	-84.55	-17.06	50.21	43.37
Diluted EPS Before Extra, 2 Yr. CAGR %	-49.94	-84.55	-17.06	50.21	43.37
Normalized Net Income, 2 Yr. CAGR %	32.52	374.36	-63.74	103.13	-31.98
Net Property, Plant and Equip., 2 Yr. CAGR %	-9.53	-1.73	-0.26	10.2	26.16
Accounts Receivable, 2 Yr. CAGR %	-63.84	-63.47	-12.5	-21.98	-35.56
Total Assets, 2 Yr. CAGR %	-10.68	-3.07	-0.12	11.85	24.37
Common Equity, 2 Yr. CAGR %	-9.91	-2.24	-3.69	-3.94	-5.46
Tangible Book Value, 2 Yr. CAGR %	-9.91	-2.24	-3.69	-3.94	-5.46
Cash From Operations, 2 Yr. CAGR %	66.64	-46.29	128.35	103.93	-0.77
Levered Free Cash Flow, 2 Yr. CAGR %	67.46	-39.42	64.35	131.91	-52.1
Unlevered Free Cash Flow, 2 Yr. CAGR %	71.07	-39.28	67.77	140.16	-16.56
Dividend Per Share, 2 Yr. CAGR %	-	-	-	19.26	8.01
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-29.44	-18.99	-1.58	47.05	27.79
Gross Profit, 3 Yr. CAGR %	-37.88	-22.3	3.27	66.36	43.77
EBITDA, 3 Yr. CAGR %	-61.53	-40.34	27.44	185.48	114.7
EBITA, 3 Yr. CAGR %	-26.22	94.73	-9.53	65.67	24.52
EBIT, 3 Yr. CAGR %	-26.22	94.73	-9.53	65.67	24.52
Earnings From Cont. Operations, 3 Yr. CAGR %	-52.54	-60.68	-59.25	-18.21	79.98
Net Income, 3 Yr. CAGR %	-52.54	-60.68	-59.25	-18.21	79.98
Diluted EPS Before Extra, 3 Yr. CAGR %	-52.54	-60.68	-59.25	-18.21	79.98
Normalized Net Income, 3 Yr. CAGR %	-25.47	17.19	47.79	55.79	-59.51
Net Property, Plant and Equip., 3 Yr. CAGR %	-5.9	-6.88	-0.88	6.21	17.07
Accounts Receivable, 3 Yr. CAGR %	-34.84	-63.01	-35.85	-28.39	-19.23
Total Assets, 3 Yr. CAGR %	-6.25	-8.04	-1.31	6.85	16.54
Common Equity, 3 Yr. CAGR %	-5.97	-7.64	-2.99	-3.6	-5.13
Tangible Book Value, 3 Yr. CAGR %	-5.97	-7.64	-2.99	-3.6	-5.13
Cash From Operations, 3 Yr. CAGR %	-46.88	70.86	-5.74	95.49	41.92
Levered Free Cash Flow, 3 Yr. CAGR %	-	54.06	-8.73	91.09	-21.83
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	56.12	-7.25	95.41	14.84
Dividend Per Share, 3 Yr. CAGR %	-	-19.42	-	-	15.87
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-21.03	15.41	13.43
Gross Profit, 5 Yr. CAGR %	-	-	-23.76	22.37	24.4
EBITDA, 5 Yr. CAGR %	-	-	-16.26	29.49	30.26
EBITA, 5 Yr. CAGR %	-	-	-34.09	104.61	34.25
EBIT, 5 Yr. CAGR %	-	-	-34.09	104.61	34.25
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-40.67	-32.79	-32.6
Net Income, 5 Yr. CAGR %	-	-	-40.67	-32.79	-32.6
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-40.67	-32.79	-32.6
Normalized Net Income, 5 Yr. CAGR %	-	-	-44.13	46.03	8.36
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-3.68	-0.39	9.16
Accounts Receivable, 5 Yr. CAGR %	-	-	-26.69	-45.51	-35.73
Total Assets, 5 Yr. CAGR %	-	-	-3.84	-0.54	8.26
Common Equity, 5 Yr. CAGR %	-	-	-5.06	-6.18	-3.98
Tangible Book Value, 5 Yr. CAGR %	-	-	-5.06	-6.18	-3.98
Cash From Operations, 5 Yr. CAGR %	-	-	-4.81	83.39	-3.78
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	81.26	-29.48
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	85.28	-11.09
Dividend Per Share, 5 Yr. CAGR %	-	-	-14.27	-5.74	-