May 16, 2025
Eppley Limited (EPLY)
Unaudited financials for the first quarter ended March 31, 2025:
Eppley Limited (EPLY) for the first quarter ended March 31, 2025, reported a 99% increase in gross investment income totalling $400.42 million compared to $201.64 million in the corresponding three months last year.
Interest expense amounted to $167.37 million (2024: $83.03 million), this represents an increase of 102% year over year. Consequently, net investment income increased by 96% to $233.04 million compared to $118.61 million for the first quarter ended March 31, 2024.
Net impairment gains of financial assets decreased by 6% to close at $186,000 (2024: $198,000), while Administrative Expenses increased by 64% from $67.35 million in 2024 to $110.15 million for the three months. As a result, fees and other operating income for the first quarter amounted to $68.40 million, a 104% increase relative to $33.59 million reported in 2024.
Share of Net Profit from Joint Venture for the three months amounted to $71.42 million (2024: Nil).
Profit Before Tax totalled $262.90 million a 209% increase from the corresponding period last year. (2024: $85.05 million).
Taxation for the first quarter ended March 31, 2025, amounted to $15.62 million, an 829% increase relative to $1.68 million reported in 2024. As such, Net Profit for the three months had a 197% increase to reach $247.28 million (2024: $83.37 million).
Net profit attributable to shareholders for the three months amounted to $167.57 million, a 100% increase from the $83.92 million reported in 2024.
Consequently, Earnings Per Share for the three months amounted to $0.87 (2024: EPS: $0.44). The twelve-month trailing EPS was $5.17, and the number of shares used in these calculations was 192,468,300.
Notably, EPLY’s stock price closed the trading period on May 15, 2025, at a price of $33.30 with a corresponding P/E ratio of 6.44x.
Balance Sheet Highlights
The company’s assets totalled $20.70 billion (2024: $6.75 billion). The growth in total assets was mainly due to ‘Investment properties’ increasing by $8.41 billion in 2025 relative to Nil in 2024. Also, Investment in Joint venture grew by $3.94 billion during the period.
Shareholder’s equity was $2.04 billion (2024: $1.21 billion), representing a book value per share of $10.58 (2024: $6.26).
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