Alahli REIT Fund 1

SAU:4338Real Estatetasi

SAR 6.20+0.16%At closeAt close · Mon 19 Oct · ≈ AED 6.07 · Market cap $227.33M · Next earnings Thu 1 Apr

SAR millions	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	YoY
Revenue	141.3	183.4	185.1	183.1	187.7	196.7	+4.8%
Cost of revenue	60.2	58.5	65.5	69.5	77.1	83.1	+7.9%
Gross profit	81.1	124.9	119.6	113.6	94.9	113.6	+19.6%
Research & development	0.0	0.0	0.0	0.0	0.0	0.0	—
Selling, general & administrative	0.5	0.5	0.5	9.2	15.2	0.5	−96.7%
Selling & marketing	0.0	0.0	0.0	8.5	1.3	0.0	−100.0%
Operating expenses	26.7	34.5	26.7	36.2	15.2	42.5	+180.0%
Operating income	28.7	91.0	89.0	77.8	79.8	71.0	−10.9%
Interest expense	12.7	14.1	20.9	37.2	45.1	49.8	+10.5%
Interest income	0.0	0.0	0.0	0.0	0.0	0.0	—
Other income / expense	(12.7)	(14.1)	(20.9)	(37.2)	(52.8)	(52.6)	+0.4%
Pre-tax income	16.1	76.9	68.1	40.6	26.7	18.4	−31.1%
Income tax	1.3	1.5	2.0	0.0	0.0	0.0	—
Net income	14.7	75.4	66.1	40.6	26.7	18.4	−31.1%
Discontinued operations	0.0	0.0	0.0	0.0	0.0	0.0	—
Other net income adjustments	0.0	0.0	0.0	0.0	0.0	0.0	—
EPS, basic (per share)	0.11	0.55	0.48	0.30	0.19	0.13	−31.6%
EPS, diluted (per share)	0.11	0.55	0.48	0.30	0.19	0.13	−31.6%
EBITDA	76.7	115.6	112.9	101.8	106.0	96.6	−8.9%
Depreciation & amortization	22.9	24.6	23.9	24.0	26.2	28.4	+8.3%
Weighted average shares (shares)	137,500,000	137,500,000	137,500,000	137,500,000	137,500,000	137,503,754	+0.0%
Weighted average diluted shares (shares)	137,500,000	137,500,000	137,500,000	137,500,000	137,500,000	137,500,000	+0.0%
Gross margin	57.4%	68.1%	64.6%	62.0%	50.6%	57.7%	+7.1 pts
Operating margin	20.3%	49.6%	48.1%	42.5%	42.5%	36.1%	−6.4 pts
Net margin	10.4%	41.1%	35.7%	22.2%	14.2%	9.3%	−4.9 pts

SAR millionsUpdated 31 Dec 2025 ·

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Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.