October 30, 2025

CAC 2000 Limited (CAC)

Unaudited financials for the nine months ended July 31, 2025:

CAC 2000 Limited (CAC), for the nine months ended July 31, 2025, reported a 13% decline in turnover, totaling $655.82 million, compared to $752.81 million in the corresponding period of 2024. Revenue for the third quarter fell by 28%, closing at $222.09 million versus $307.27 million for the comparable quarter in 2024.

Year to date Cost of Sales amounted to $432.09 million (2024: $497.54 million), reflecting a 13% year-over-year decrease. Consequently, gross profit declined by 12% to $223.73 million, compared to $255.27 million for the nine months ended July 31, 2024. For the third quarter, the company recorded gross profit of $76.36 million, down from $106.30 million in the same quarter of 2024.

Selling and Distribution expenses decreased by 83%, closing at $2.49 million (2024: $14.48 million), while General Administrative expenses increased by 7%, rising from $241.99 million in 2024 to $259.21 million in the current period. As a result, total expenses for the nine months ended July 31, 2025, amounted to $261.70 million, a 2% increase compared to $256.47 million reported in 2024. Additonally, Other operating income for the nine months ended July 31, 2025 amounted to $170,692 (2024: $955,521).

Consequently, Operating Loss for the nine months ended July 31, 2025, was $37.80 million, representing a significant deterioration from the loss of $243,362 reported in 2024. For the third quarter, Operating Loss amounted to $7.46 million, compared to a profit of $21.66 million in 2024.

Net Finance Costs totaled $48.40 million, a 27% increase over the $38.21 million recorded in the prior year.

Loss Before Taxation for the nine months ended July 31, 2025, amounted to $86.21 million, a 124% decline relative to the loss of $38.45 million reported in 2024. For the third quarter, Loss Before Taxation was $29.68 million, compared to a profit of $11.72 million in the same period last year.

The tax credit for the nine months ended July 31, 2025 amounted to $12.33 million (2024: tax charge of $3.28 million). As a result, Net Loss for the nine months amounted to $73.88 million, a 77% decline from the loss of $41.74 million reported in 2024. For the third quarter, Net Loss of $29.68 million, compared to a profit of $11.72 million in the prior year.

Consequently, Loss Per Share for the nine months amounted to $0.57 (2024: LPS: $0.32), while Loss Per Share for the quarter totaled $0.23 (2024: EPS: $0.09). The twelve-month trailing LPS was $0.08 and the number of shares used in these calculations was 129,032,258.

Notably, CAC’s stock price closed the trading period on October 24, 2025 at a price of $1.97.

Balance Sheet Highlights

The company’s total assets amounted to $1.44 billion as at July 31, 2025, reflecting an increase of $104.17 million or 8% compared to $1.34 billion reported in the corresponding period of 2024.

This movement was primarily driven by:

• Trade and Other Receivables, which rose by $240.70 million to $869.65 million (2024: $628.94 million),
• Inventories amounted to $415.63 million (2024: $545 million),
• Cash and Cash Equivalents, which grew by $3.44 million to $45.85 million (2024: $42.41 million).

These increases were partially offset by a decline in Property, Plant and Equipment, which fell by $4.78 million to $12.08 million (2024: $16.86 million), and a reduction in Right-of-Use Assets, which decreased by $11.67 million to $20.07 million (2024: $41.74 million).

Shareholders’ equity was $290.95 million (2024: $300.84 million), representing a book value per share of $2.25 (2024: $2.33).

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