SEDCO CAPITAL REIT

SEDCO Capital REIT Fund

4344REITsTadawulReal Estate

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Semi-annual

Annual (SAR)

	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021	2020Dec 31, 2020
Operating Summary
Revenue	176.72M	162.51M	159.13M	71.68M	68.11M
Interest Expense	-63.30M	-57.22M	-34.53M	-12.48M	-18.50M
Pretax Income	14.41M	33.56M	41.11M	-35.44M	9.72M
Net Income	14.41M	33.56M	41.11M	-35.44M	9.72M
Rental Revenue	173.53M	161.78M	137.51M	72.90M	68.10M
Property Expenses	17.10M	13.98M	11.13M	5.83M	6.17M
Operating Income	101.71M	95.08M	102.48M	37.19M	33.85M
EPS (Basic)	0.08	0.18	0.35	-0.30	0.16
EPS (Diluted)	0.08	0.18	0.35	-0.30	0.16
DPS	0.50	0.58	0.71	0.63	0.56
Margins & Efficiency
Net Margin %	+8.2%	+20.7%	+25.8%	-49.4%	+14.3%
Revenue & Income
Revenue as Reported	176.72M	162.51M	159.13M	71.68M	68.11M
Revenue Growth (YoY)	+8.7%	+2.1%	+122.0%	+5.2%	-12.7%
Revenue RE	176.72M	162.51M	159.13M	71.68M	68.11M
Rental Revenue	173.53M	161.78M	137.51M	72.90M	68.10M
Other Revenue RE	—	-3.11M	21.20M	-1.23M	—
Expenses & Provisions
SG&A RE	17.71M	17.48M	12.90M	12.21M	10.00M
Total Operating Expenses RE	75.00M	67.43M	56.66M	34.49M	34.26M
Interest Expense RE	-63.30M	-57.22M	-34.53M	-12.48M	-18.50M
Other Non Oper Exp Suppl RE	—	—	—	—	-2.18M
Property Expenses	17.10M	13.98M	11.13M	5.83M	6.17M
Asset Writedown	-24.00M	-4.30M	-26.84M	-60.15M	-3.46M
D&A For EBITDA	34.19M	31.97M	29.13M	16.19M	16.09M
Dep Amor RE	34.19M	31.97M	29.13M	16.19M	16.09M
Profitability & Returns
EBIT	101.71M	95.08M	102.48M	37.19M	33.85M
EBIT Margin	+57.6%	+58.5%	+64.4%	+51.9%	+49.7%
EBITDA	135.90M	127.05M	131.61M	53.38M	49.94M
EBITDA Margin	+76.9%	+78.2%	+82.7%	+74.5%	+73.3%
EBT Excl RE	38.41M	37.86M	67.95M	24.71M	13.18M
Pretax Income	14.41M	33.56M	41.11M	-35.44M	9.72M
Operating Income RE	101.71M	95.08M	102.48M	37.19M	33.85M
Operating Margin	+57.6%	+58.5%	+64.4%	+51.9%	+49.7%
Profit Margin	+8.2%	+20.7%	+25.8%	-49.4%	+14.3%
Net Income	14.41M	33.56M	41.11M	-35.44M	9.72M
Net Income to Common	14.41M	33.56M	41.11M	-35.44M	9.72M
Net Income Growth	-57.1%	-18.4%	—	—	-56.1%
Net Interest Expense RE	-63.30M	-57.22M	-34.53M	-12.48M	-18.50M
Per Share & Capital
EPS (Basic)	0.08	0.18	0.35	-0.30	0.16
EPS (Diluted)	0.08	0.18	0.35	-0.30	0.16
EPS Growth	-57.1%	-48.7%	—	—	-56.1%
Dividend Per Share	0.50	0.58	0.71	0.63	0.56
Shares Change (YoY)	—	0.59	—	0.96	—
Shares Outstanding (Basic)	186.94M	186.94M	117.50M	117.50M	60.00M
Shares Outstanding (Diluted)	186.94M	186.94M	117.50M	117.50M	60.00M
Dividend Growth	-13.9%	-18.2%	+12.7%	+13.5%	—
Payout Ratio	+675.3%	+273.6%	+174.8%	—	+367.2%

Income Statement Balance Sheet Cash Flow Ratios

Annual Semi-annual

Annual (SAR)

	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021	2020Dec 31, 2020
Operating Summary
Revenue	176.72M	162.51M	159.13M	71.68M	68.11M
Interest Expense	-63.30M	-57.22M	-34.53M	-12.48M	-18.50M
Pretax Income	14.41M	33.56M	41.11M	-35.44M	9.72M
Net Income	14.41M	33.56M	41.11M	-35.44M	9.72M
Rental Revenue	173.53M	161.78M	137.51M	72.90M	68.10M
Property Expenses	17.10M	13.98M	11.13M	5.83M	6.17M
Operating Income	101.71M	95.08M	102.48M	37.19M	33.85M
EPS (Basic)	0.08	0.18	0.35	-0.30	0.16
EPS (Diluted)	0.08	0.18	0.35	-0.30	0.16
DPS	0.50	0.58	0.71	0.63	0.56
Margins & Efficiency
Net Margin %	+8.2%	+20.7%	+25.8%	-49.4%	+14.3%
Revenue & Income
Revenue as Reported	176.72M	162.51M	159.13M	71.68M	68.11M
Revenue Growth (YoY)	+8.7%	+2.1%	+122.0%	+5.2%	-12.7%
Revenue RE	176.72M	162.51M	159.13M	71.68M	68.11M
Rental Revenue	173.53M	161.78M	137.51M	72.90M	68.10M
Other Revenue RE	—	-3.11M	21.20M	-1.23M	—
Expenses & Provisions
SG&A RE	17.71M	17.48M	12.90M	12.21M	10.00M
Total Operating Expenses RE	75.00M	67.43M	56.66M	34.49M	34.26M
Interest Expense RE	-63.30M	-57.22M	-34.53M	-12.48M	-18.50M
Other Non Oper Exp Suppl RE	—	—	—	—	-2.18M
Property Expenses	17.10M	13.98M	11.13M	5.83M	6.17M
Asset Writedown	-24.00M	-4.30M	-26.84M	-60.15M	-3.46M
D&A For EBITDA	34.19M	31.97M	29.13M	16.19M	16.09M
Dep Amor RE	34.19M	31.97M	29.13M	16.19M	16.09M
Profitability & Returns
EBIT	101.71M	95.08M	102.48M	37.19M	33.85M
EBIT Margin	+57.6%	+58.5%	+64.4%	+51.9%	+49.7%
EBITDA	135.90M	127.05M	131.61M	53.38M	49.94M
EBITDA Margin	+76.9%	+78.2%	+82.7%	+74.5%	+73.3%
EBT Excl RE	38.41M	37.86M	67.95M	24.71M	13.18M
Pretax Income	14.41M	33.56M	41.11M	-35.44M	9.72M
Operating Income RE	101.71M	95.08M	102.48M	37.19M	33.85M
Operating Margin	+57.6%	+58.5%	+64.4%	+51.9%	+49.7%
Profit Margin	+8.2%	+20.7%	+25.8%	-49.4%	+14.3%
Net Income	14.41M	33.56M	41.11M	-35.44M	9.72M
Net Income to Common	14.41M	33.56M	41.11M	-35.44M	9.72M
Net Income Growth	-57.1%	-18.4%	—	—	-56.1%
Net Interest Expense RE	-63.30M	-57.22M	-34.53M	-12.48M	-18.50M
Per Share & Capital
EPS (Basic)	0.08	0.18	0.35	-0.30	0.16
EPS (Diluted)	0.08	0.18	0.35	-0.30	0.16
EPS Growth	-57.1%	-48.7%	—	—	-56.1%
Dividend Per Share	0.50	0.58	0.71	0.63	0.56
Shares Change (YoY)	—	0.59	—	0.96	—
Shares Outstanding (Basic)	186.94M	186.94M	117.50M	117.50M	60.00M
Shares Outstanding (Diluted)	186.94M	186.94M	117.50M	117.50M	60.00M
Dividend Growth	-13.9%	-18.2%	+12.7%	+13.5%	—
Payout Ratio	+675.3%	+273.6%	+174.8%	—	+367.2%