February16, 2026

Transjamaican Highway Limited (TJH)

Unaudited financials for the year ended December 31, 2025:

Transjamaican Highway Limited (TJH), for the year ended December 31, 2025, reported a 10% increase in Revenue to US$91.16 million relative to US$82.82 million in the corresponding period last year. Revenue for the fourth quarter amounted to US$21.78 million (2024: US$22.38 million), a 3% decrease. The quarterly decline was attributable to a 15-day toll suspension following the passage of Hurricane Melissa, which resulted in an estimated revenue impact of approximately US$3.5 million.

Other Gains amounted to US$5.28 million relative to Other Gains of US$3.86 million for the comparable period in 2024. Whereas, for the quarter, Other Gains and Losses totalled US$1.97 million relative to the US$768,000 in 2024.

Operating Expenses increased 9% to US$22.99 million (2024: US$ 21.05 million), while Administrative Expenses for the year closed at US$11.23 million, a 17% increase from the US$9.63 million reported in 2024.

Finance Cost for the year closed at US$13.36 million relative to US$13.93 million in 2024, a 4% decrease year over year.

Profit Before Tax closed at US$48.85 million versus a Profit Before Tax of US$42.07 million for the year ended December 31, 2025. TJH reported a Profit Before Tax of US$10.98 million versus a Profit Before Tax of US$12.74 million for the fourth quarter of 2025.

The Company reported Taxation of US$12.18 million (2024: US$10.75 million), resulting in a Net Profit of US$36.68 million relative to a Net Profit of US$31.32 million in 2024. Net Profit for the quarter amounted to US$8.61 million relative to a Net Profit of US$9.33 million in 2024.

Consequently, Earnings Per Share for the year amounted to J$0.47 (2024: EPS: J$0.39), while Earnings Per Share for the quarter totaled J$0.11 (2024: EPS: J$0.12). The twelve-month trailing EPS was J$0.47 and the number of shares used in these calculations was 12,501,000,000.

Notably, TJH’s stock price closed the trading period on February 13, 2026, at a price of J$6.62 with a corresponding P/E ratio of 13.97x.

Balance Sheet Highlights

The company’s assets totalled US$299.38 million (2024: US$293.85 million). TJH highlighted, “The increase reflects the recognition of additional intangible assets following the acquisition of the Phase 1C leg, together with modest increases in trade receivables and cash and bank balances. These were partially offset by ongoing amortization of the intangible asset, a marginal reduction in reserve account balances, and a further decrease in deferred tax assets.”

Shareholder’s equity was US$81.89 million (2024: US$65.28 million), representing a book value per share of J$1.05 (2024: J$0.82).

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