February 3rd, 2025
138 Student Living Ltd.(138SL)
Audited financials for the twelve months ended September 30, 2024:
138 Student Living Ltd. (138SL) for the twelve months ended September 30, 2024, reported a 6% increase in Income totaling $1.37 billion compared to $1.30 billion in the corresponding period last year. Income for the fourth quarter had a 4% increase to close at $327.36 million compared to $314.43 million for the comparable quarter of 2023.
Other Operating Income amounted to $155.42 million (2023: $97.37 million), an increase of 60% year over year. Consequently, total revenue increased by 10% to $1.53 billion compared to $1.39 billion for the twelve months ending September 30, 2023. The company booked total revenue of $372.02 million for the fourth quarter versus $342.89 million reported for the similar quarter of 2023.
Administrative and other expenses increased by 21% to close at $821.40 million (2023: $678.68 million), while Profit from Operation decreased by 1% from $715.26 million in 2023 to $708.11 million in the period under review. Finance costs for the twelve months ended September 30, 2024, amounted to $331.79 million, an 8% decrease relative to $360.86 million reported in 2023.
Profit Before Taxation for the twelve months ended September 30, 2024, amounted to $376.32 million, a 6% increase relative to $354.39 million reported in 2023. Profit Before Taxation for the fourth quarter amounted to $53.05 million (2023: $64.52 million). Taxation totaled $31.52 million, a 177% increase from last year’s corresponding period. (2023: $11.40 million).
Net Profit for the twelve months amounted to $344.80 million, a 1% increase from the $343.00 million reported in 2023. For the fourth quarter, Net Profit was $45.19 million (2023: $60.84 million).
Consequently, Earnings Per Share for the twelve months amounted to $0.64 (2023: EPS: $0.64), while Earnings Per Share for the quarter totaled $0.08 (2023: EPS: $0.11). The number of shares used in these calculations was 536,855,600.
Notably, 138SL’s stock price closed the trading period on January 31, 2025, at a price of $4.10 with a corresponding P/E ratio of 6.38x.
Balance Sheet Highlights
The company’s assets amounted to $10.37 billion in 2024, reflecting an increase from $9.89 billion in 2023. This growth is primarily attributed to an 81% year-over-year (YoY) rise in “Cash and cash equivalents,” which reached $101.42 million (up from $55.95 million in 2023), as well as a 6% YoY increase in “Financial asset-service commission rights,” which ended the year at $9.00 billion (compared to $8.51 billion in 2023).
Shareholder’s equity was $6.13 billion (2023: $4.88 billion), representing a book value per share of $11.42 (2023: $9.09).
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