March 06, 2025
Sagicor Real Estate X Fund LTD(XFUND)
Audited financials for the twelve months ended December 31, 2024:
Sagicor Real Estate X Fund LTD (XFUND) for the twelve months ended December 31, 2024, reported a 3% decrease in Total Revenue totaling $7.80 billion compared to $8.07 billion in the corresponding period last year. Total Revenue for the fourth quarter had a 20% decrease to close at $1.64 billion compared to $2.04 billion for the comparable quarter of 2023.
Net capital losses on financial assets and liabilities amounted to $89.33 million (2023: a gain of 232.77 million). Consequently, hotel revenue decreased by 1% to $7.33 billion compared to $7.37 billion for the twelve months ended December 31, 2023. The company booked hotel revenue of $1.72 billion for the fourth quarter versus $1.77 billion reported for the similar quarter of 2023.
Hotel Expenses decreased by 4% from $2.56 billion in 2023 to $2.45 billion in the period under review. As a result, the other operating expenses for the twelve months ended December 31, 2024, amounted to $4.28 billion, a 0.46% increase relative to the $4.26 billion reported in 2023.
Operating Expenses for the twelve months ended December 31, 2024, amounted to $6.74 billion, a 1% decrease relative to the $6.82 billion reported in 2023. Operating Expenses for the fourth quarter amounted to $1.29 billion (2023: $1.73 billion). Operating Profit totaled $1.07 billion, a 15% decrease from last year’s corresponding period. (2023: $1.25 billion).
Taxation for the twelve months ended December 31, 2024, amounted to $295.45 million, a 3% increase relative to $286.67 million reported in 2023. Taxation for the fourth quarter amounted to $12.16 million (2023: $88.06 million).
Net Profit for the twelve months amounted to $456.70 million, a 30% decrease from the $648.02 million reported in 2023. For the fourth quarter, Net Profit was $27.26 million (2023: $222.08 million).
Consequently, Earnings Per Share for the twelve months amounted to $0.20 (2023: EPS: $0.29), while Earnings Per Share for the quarter totaled $0.01 (2023: EPS: $0.10). The number of shares used in these calculations was 2,243,005,125.
Notably, XFUND’s stock price closed the trading period on March 06, 2025, for $7.95 with a corresponding P/E ratio of 39.04x.
Balance Sheet Highlights
The company’s assets totaled $31.33 billion (2023: $28.95 billion). The increase in total assets is attributed to a 29% YoY increase in “Financial investments” ending the year at $3.67 billion (2023: $2.85 billion), a 11% YoY increase in “Cash Resources” ending the year at $2.38 billion (2023: $2.16 billion) and a 3% increase in “Property, Plant and Equipment” ending the year at $17.85 billion (2023: $17.41 billion).
Shareholder’s equity was $22.07 billion (2023: $20.83 billion), representing a book value per share of $9.84 (2023: $9.29).
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