Cash flow SICO Capital - SICO Saudi REIT Fund

Stocks

4337

SA14DG523OL4

Specialized REITs

Market Closed - Saudi Arabian S.E. 08:20:00 2026-09-01 EDT			5-day change	1st Jan Change
4.590 ^SAR	+0.88%		-4.77%	+13.61%

08-25	Al Aziziah REIT Fund Secures Three-month Credit Facility Extension	MT
08-13	Al Aziziah Reit Fund Plans Q2 Cash Dividend	MT

5400685b.x9GzJ09J6K2UeC-i0ScamX8UPzNS551xCZOhWo127iY.jqHxHgUdgsfzFGzXv1JizAtaXnUWgssJTqLEaMkjoUeRlIZ2IBivm-VLFw

Published financial data: SICO CAPITAL - SICO SAUDI REIT FUND

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (SAR)	2022 (SAR)	2023 (SAR)	2024 (SAR)	2025 (SAR)
Rental Revenues	15.05M	36.79M	19.95M	17.69M	20.76M
Interest and Investment Income, Total (Revenue Block)	-	-	-	-	27.31K
Gain (Loss) on Sale of Investments, Total (Rev)	130K	-737K	253K	700K	212K
Other Revenues, Total	-	-	790K	-	2.24K
Total Revenues	15.18M	36.05M	21M	18.39M	21M
Property Expenses	-	-	-	-	1.79M
Selling General & Admin Expenses, Total	-	-	-	-	697K
Depreciation & Amortization - (IS) - (Collected)	9.07M	9.71M	9.71M	9.73M	9.71M
Provision for Bad Debts	-	-	17.97M	-	266K
Other Operating Expenses	2.05M	19.11M	4.34M	2.91M	895K
Total Operating Expenses	11.12M	28.82M	32.01M	12.64M	13.35M
Operating Income (REIT / Utility Template)	4.06M	7.23M	-11.01M	5.75M	7.65M
Interest Expense, Total	-3.66M	-6.98M	-11.88M	-12.31M	-11.08M
Net Interest Expenses	-3.66M	-6.98M	-11.88M	-12.31M	-11.08M
Other Non Operating Income (Expenses)	-	1.75K	-	-	-6.59M
EBT, Excl. Unusual Items	398K	252K	-22.89M	-6.56M	-10.02M
Asset Writedown	584K	-83.64M	-29.34M	-108M	9.09M
EBT, Incl. Unusual Items	982K	-83.39M	-52.23M	-115M	-929K
Earnings From Continuing Operations	982K	-83.39M	-52.23M	-115M	-929K
Net Income to Company	982K	-83.39M	-52.23M	-115M	-929K
Net Income - (IS)	982K	-83.39M	-52.23M	-115M	-929K
Net Income to Common Incl Extra Items	982K	-83.39M	-52.23M	-115M	-929K
Net Income to Common Excl. Extra Items	982K	-83.39M	-52.23M	-115M	-929K
Per Share Items
Net EPS - Basic	0.02	-1.46	-0.91	-2.01	-0.02
Basic EPS - Continuing Operations	0.02	-1.46	-0.91	-2.01	-0.02
Basic Weighted Average Shares Outstanding	57.24M	57.24M	57.24M	57.24M	57.24M
Net EPS - Diluted	0.02	-1.46	-0.91	-2.01	-0.02
Diluted EPS - Continuing Operations	0.02	-1.46	-0.91	-2.01	-0.02
Diluted Weighted Average Shares Outstanding	57.24M	57.24M	57.24M	57.24M	57.24M
Normalized Basic EPS	0	0	-0.25	-0.07	-0.11
Normalized Diluted EPS	0	0	-0.25	-0.07	-0.11
Dividend Per Share	0.15	-	-	-	-
Payout Ratio	-	-10.3	-	-	-
Supplemental Items
EBITDA	13.13M	16.94M	-1.31M	15.48M	17.36M
EBITA	4.06M	7.23M	-11.01M	5.75M	7.65M
EBIT	4.06M	7.23M	-11.01M	5.75M	7.65M
Total Revenues (As Reported)	15.18M	36.05M	21M	18.39M	21M
Normalized Net Income	249K	158K	-14.31M	-4.1M	-6.26M
Supplemental Operating Expense Items
General and Administrative Expenses	-	-	-	-	697K
Maintenance & Repair Expenses, Total	-	-	-	-	30.39K

Fiscal Period: December	2021 (SAR)	2022 (SAR)	2023 (SAR)	2024 (SAR)	2025 (SAR)
Assets
Gross Property Plant And Equipment	668M	585M	555M	447M	456M
Accumulated Depreciation	-29.83M	-39.54M	-49.24M	-58.97M	-68.68M
Net Property Plant And Equipment	639M	545M	506M	388M	387M
Total Real Estate Assets	639M	545M	506M	388M	387M
Cash And Equivalents	11.01M	5.41M	3.42M	1.43M	6.76M
Accounts Receivable, Total	-	17.97M	-	424K	43.5K
Other Receivables	-	-	-	8.45M	1.64M
Other Current Assets, Total	429K	7.01M	6.16M	2.37M	216K
Trading Asset Securities, Total	4.14M	1.5M	11.76M	11.62M	-
Total Assets	654M	577M	528M	412M	396M
Liabilities
Short-Term Borrowings	150M	150M	150M	150M	150M
Accrued Expenses, Total	376K	17.04M	1.53M	999K	826K
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	3.26K	5.41K	15.99M	15.99M	733K
Unearned Revenue Non Current	1.41M	-	2.15M	2.46M	2.58M
Total Liabilities	152M	167M	170M	169M	154M
Common Stock, Total	502M	410M	358M	243M	242M
Retained Earnings	-	-	-	-	-
Total Common Equity	502M	410M	358M	243M	242M
Total Equity	502M	410M	358M	243M	242M
Total Liabilities And Equity	654M	577M	528M	412M	396M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	57.24M	57.24M	57.24M	57.24M	57.24M
ECS Total Common Shares Outstanding	57.24M	57.24M	57.24M	57.24M	57.24M
Book Value / Share	8.77	7.17	6.25	4.25	4.23
Tangible Book Value	502M	410M	358M	243M	242M
Tangible Book Value Per Share	8.77	7.17	6.25	4.25	4.23
Total Debt	150M	150M	150M	150M	150M
Net Debt	135M	143M	135M	137M	143M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	382M	382M	382M	382M	382M
Buildings, Total	287M	203M	174M	65.52M	74.61M
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	266K

Fiscal Period: December	2021 (SAR)	2022 (SAR)	2023 (SAR)	2024 (SAR)	2025 (SAR)
Net Income	982K	-83.39M	-52.23M	-115M	-929K
Depreciation, Depletion & Amortization	9.07M	9.71M	9.71M	9.73M	9.71M
Total Depreciation, Depletion & Amortization	9.07M	9.71M	9.71M	9.73M	9.71M
(Gain) Loss on Sale of Investments - (CF)	-130K	737K	-253K	-700K	-212K
Total Asset Writedown	-584K	83.64M	29.34M	108M	-9.09M
Provision and Write-off of Bad Debts	-	-	-	-	266K
Change in Accounts Receivable	615K	-19.38M	-	-424K	115K
Change in Unearned Revenues	1.41M	-	2.15M	310K	118K
Change in Other Net Operating Assets (Collected)	-148M	9.76M	1.33M	-5.19M	-23.86M
Other Operating Activities	3.66M	6.98M	29.84M	12.31M	17.37M
Cash from Operations	-133M	8.06M	19.89M	9.48M	-6.52M
Acquisition of Real Estate Assets, Total	-	-	-	-	-
Net Sale / Acquisition of Real Estate Assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-3.5M	2.69M	-10M	838K	11.83M
Other Investing Activities, Total	-	-	-	-	27.31K
Cash from Investing	-3.5M	2.69M	-10M	838K	11.86M
Short Term Debt Issued, Total	150M	-	-	-	-
Total Debt Issued	150M	-	-	-	-
Issuance of Common Stock	-	-	-	-	-
Common Dividends Paid	-	-8.59M	-	-	-
Common & Preferred Stock Dividends Paid	-	-8.59M	-	-	-
Other Financing Activities, Total	-3.34M	-7.77M	-11.88M	-12.31M	-
Cash from Financing	147M	-16.35M	-11.88M	-12.31M	-
Miscellaneous Cash Flow Adjustments	-	-1	-	-	-
Net Change in Cash	9.68M	-5.61M	-1.99M	-1.99M	5.34M
Supplemental Items
Cash Interest Paid	3.34M	7.77M	11.88M	12.31M	-
Net Debt Issued / Repaid	150M	-	-	-	-
Levered Free Cash Flow	10.41M	1.66M	14.7M	20.97K	1.47M
Unlevered Free Cash Flow	12.7M	6.02M	22.12M	7.71M	8.4M
Change In Net Working Capital	-1.09M	8.2M	-19.3M	5.61M	6.09M

Fiscal Period: December	2021 (SAR)	2022 (SAR)	2023 (SAR)	2024 (SAR)	2025 (SAR)
Profitability
Return on Assets	0.44	0.73	-1.25	0.76	1.18
Return on Total Capital	0.44	0.75	-1.29	0.8	1.22
Return On Equity %	0.2	-18.28	-13.6	-38.24	-0.38
Return on Common Equity	0.2	-18.28	-13.6	-38.24	-0.38
Margin Analysis
Gross Profit Margin %	100	100	100	100	91.48
SG&A Margin	-	-	-	-	3.32
EBITDA Margin %	86.52	46.98	-6.23	84.19	82.64
EBITA Margin %	26.75	20.05	-52.46	31.25	36.42
EBIT Margin %	26.75	20.05	-52.46	31.25	36.42
Income From Continuing Operations Margin %	6.47	-231.32	-248.76	-625.08	-4.43
Net Income Margin %	6.47	-231.32	-248.76	-625.08	-4.43
Net Avail. For Common Margin %	6.47	-231.32	-248.76	-625.08	-4.43
Normalized Net Income Margin	1.64	0.44	-68.14	-22.31	-29.81
Levered Free Cash Flow Margin	68.61	4.6	69.99	0.11	7.02
Unlevered Free Cash Flow Margin	83.68	16.7	105.34	41.96	39.98
Asset Turnover
Asset Turnover	0.03	0.06	0.04	0.04	0.05
Fixed Assets Turnover	0.03	0.06	0.04	0.04	0.05
Receivables Turnover (Average Receivables)	-	-	-	-	88.77
Short Term Liquidity
Current Ratio	0.1	0.19	0.13	0.15	0.06
Quick Ratio	0.1	0.15	0.09	0.13	0.06
Operating Cash Flow to Current Liabilities	-0.89	0.05	0.12	0.06	-0.04
Days Sales Outstanding (Average Receivables)	-	-	-	-	4.11
Long Term Solvency
Total Debt/Equity	29.91	36.54	41.87	61.67	61.91
Total Debt / Total Capital	23.03	26.76	29.51	38.15	38.24
Total Liabilities / Total Assets	23.24	28.93	32.14	41.07	38.88
EBIT / Interest Expense	1.11	1.04	-0.93	0.47	0.69
EBITDA / Interest Expense	3.59	2.43	-0.11	1.26	1.57
(EBITDA - Capex) / Interest Expense	3.59	2.43	-0.11	1.26	1.57
Total Debt / EBITDA	11.44	8.85	-114.58	9.68	8.64
Net Debt / EBITDA	10.28	8.44	-102.98	8.84	8.25
Total Debt / (EBITDA - Capex)	11.44	8.85	-114.58	9.68	8.64
Net Debt / (EBITDA - Capex)	10.28	8.44	-102.98	8.84	8.25
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	93.87	137.5	-41.76	-12.44	14.24
Gross Profit, 1 Yr. Growth %	127.8	137.5	-41.76	-12.44	12.92
EBITDA, 1 Yr. Growth %	146.7	28.96	-107.72	-1.28K	9.89
EBITA, 1 Yr. Growth %	-354.46	78.06	-252.33	-152.16	26.22
EBIT, 1 Yr. Growth %	-354.46	78.06	-252.33	-152.16	26.22
Earnings From Cont. Operations, 1 Yr. Growth %	-101.78	-8.59K	-37.36	120.02	-99.19
Net Income, 1 Yr. Growth %	-101.78	-8.59K	-37.36	120.02	-99.19
Diluted EPS Before Extra, 1 Yr. Growth %	-101.78	-8.59K	-37.36	120.02	-99.19
Normalized Net Income, 1 Yr. Growth %	-124.95	-36.58	-9.17K	-71.33	52.6
Net Property, Plant and Equip., 1 Yr. Growth %	28.18	-14.62	-7.16	-23.33	-0.16
Accounts Receivable, 1 Yr. Growth %	-	-	-	-	-89.75
Total Assets, 1 Yr. Growth %	30.4	-11.78	-8.59	-21.83	-3.94
Common Equity, 1 Yr. Growth %	0.2	-18.32	-12.73	-32.1	-0.38
Tangible Book Value, 1 Yr. Growth %	0.2	-18.32	-12.73	-32.1	-0.38
Cash From Operations, 1 Yr. Growth %	-4.72K	-106.04	123.45	-52.34	130.39
Levered Free Cash Flow, 1 Yr. Growth %	197.06	-84.54	785.22	-99.86	577.61
Unlevered Free Cash Flow, 1 Yr. Growth %	262.35	-53.77	267.32	-65.12	6.14
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-37.57	114.58	17.61	-28.59	0.01
Gross Profit, 2 Yr. CAGR %	-32.32	132.6	17.61	-28.59	-4.34
EBITDA, 2 Yr. CAGR %	-35.28	78.36	-68.44	-4.4	264.24
EBITA, 2 Yr. CAGR %	-59.24	112.86	64.71	-10.86	-16.66
EBIT, 2 Yr. CAGR %	-59.24	112.86	64.71	-10.86	-16.66
Earnings From Cont. Operations, 2 Yr. CAGR %	-79.95	23.09	629.14	17.4	-86.66
Net Income, 2 Yr. CAGR %	-79.95	23.09	629.14	17.4	-86.66
Diluted EPS Before Extra, 2 Yr. CAGR %	-	23.09	629.16	17.39	-86.66
Normalized Net Income, 2 Yr. CAGR %	-87.24	-60.22	658.35	409.91	-33.85
Net Property, Plant and Equip., 2 Yr. CAGR %	6.92	4.61	-10.97	-15.63	-12.51
Accounts Receivable, 2 Yr. CAGR %	-	440.44	-	-84.63	-
Total Assets, 2 Yr. CAGR %	6.31	7.26	-10.2	-15.47	-13.34
Common Equity, 2 Yr. CAGR %	-6.7	-9.53	-15.57	-23.03	-17.76
Tangible Book Value, 2 Yr. CAGR %	-6.7	-9.53	-15.57	-23.03	-17.76
Cash From Operations, 2 Yr. CAGR %	106.41	66.99	-61.38	3.2	-42.74
Levered Free Cash Flow, 2 Yr. CAGR %	-43.35	-31.2	17.01	-88.76	-68.33
Unlevered Free Cash Flow, 2 Yr. CAGR %	-37.43	31.05	30.33	13.18	-38.39
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-27.37	-2.54	38.93	6.6	-16.48
Gross Profit, 3 Yr. CAGR %	-23.39	2.85	46.61	6.6	-18.92
EBITDA, 3 Yr. CAGR %	-25.34	-18.56	-37.36	5.63	0.82
EBITA, 3 Yr. CAGR %	-45.18	-33.37	90.41	12.27	1.89
EBIT, 3 Yr. CAGR %	-45.18	-33.37	90.41	12.27	1.89
Earnings From Cont. Operations, 3 Yr. CAGR %	-65.84	50.55	-1.73	389.06	-77.66
Net Income, 3 Yr. CAGR %	-65.84	50.55	-1.73	389.06	-77.66
Diluted EPS Before Extra, 3 Yr. CAGR %	-65.84	-	-1.73	389.07	-77.66
Normalized Net Income, 3 Yr. CAGR %	-74.72	-78.22	142.99	154.53	241.07
Net Property, Plant and Equip., 3 Yr. CAGR %	4.14	-0.8	0.53	-15.3	-10.76
Accounts Receivable, 3 Yr. CAGR %	-	223.5	-	-	-86.57
Total Assets, 3 Yr. CAGR %	3.86	-0.1	1.69	-14.26	-11.79
Common Equity, 3 Yr. CAGR %	-4.81	-10.74	-10.61	-21.49	-16.12
Tangible Book Value, 3 Yr. CAGR %	-4.81	-10.74	-10.61	-21.49	-16.12
Cash From Operations, 3 Yr. CAGR %	59.98	-36.39	90.22	-58.58	-9.85
Levered Free Cash Flow, 3 Yr. CAGR %	-	-62.88	61.25	-87.5	-3.88
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-42.96	84.79	-16.01	11.72
Dividend Per Share, 3 Yr. CAGR %	-33.93	-	-	-	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-11.93	-13.94	21.82
Gross Profit, 5 Yr. CAGR %	-	-	-9.06	-11.11	23.59
EBITDA, 5 Yr. CAGR %	-	-	-47.09	-13.17	26.66
EBITA, 5 Yr. CAGR %	-	-	-14.87	-25.14	36.82
EBIT, 5 Yr. CAGR %	-	-	-14.87	-25.14	36.82
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	16.22	36.29	-55.79
Net Income, 5 Yr. CAGR %	-	-	16.22	36.29	-55.79
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	16.22	-	-55.79
Normalized Net Income, 5 Yr. CAGR %	-	-	-1.46	-23.12	44.4
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-2.19	-7.02	-4.9
Accounts Receivable, 5 Yr. CAGR %	-	-	-	-4.38	-41.13
Total Assets, 5 Yr. CAGR %	-	-	-2.01	-6.56	-4.61
Common Equity, 5 Yr. CAGR %	-	-	-9.27	-15.88	-13.54
Tangible Book Value, 5 Yr. CAGR %	-	-	-9.27	-15.88	-13.54
Cash From Operations, 5 Yr. CAGR %	-	-	-9.4	-21.25	17.68
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-76.98	-15.9
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-24.97	19.09