March 03, 2025
Carreras Ltd (CAR)
Audited Financials for the Twelve Months Ended December 31, 2024:
Carreras Ltd (CAR) reported a 41% increase in operating revenue, totalling $19.55 billion for the twelve months ended December 31, 2024, compared to $13.84 billion in the corresponding period last year. Operating revenue for the fourth quarter saw a 287% increase, closing at $6.83 billion compared to $1.76 billion for the comparable quarter of 2023.
The cost of operating revenue amounted to $8.66 billion (2023: $7.01 billion), representing a 24% year-over-year increase. Consequently, gross operating profit increased by 59% to $10.89 billion compared to $6.84 billion for the twelve months ended December 31, 2023. The company booked a gross operating profit of $4.01 billion for the fourth quarter versus $1.03 billion reported for the similar quarter of 2023.
Other operating income increased by 12%, closing at $300.84 million (2023: $268.75 million), while administrative, distribution, and marketing expenses increased by 39%, from $2.18 billion in 2023 to $3.04 billion in the period under review. As a result, profit from operations for the twelve months ended December 31, 2024, amounted to $8.19 billion, a 71% increase relative to $4.79 billion reported in 2023.
Profit before income tax for the twelve months ended December 31, 2024, amounted to $8.19 billion, a 71% increase relative to $4.79 billion reported in 2023. Profit before income tax for the fourth quarter amounted to $3.22 billion (2023: $765.60 million).
Income tax for the twelve months ended December 31, 2024, increased by 66% to reach $1.96 billion (2023: $1.18 billion). Net profit for the twelve months amounted to $6.23 billion, a 72% increase from the $3.61 billion reported in 2023. For the fourth quarter, net profit was $2.52 billion (2023: $570.56 million).
Total comprehensive income for the twelve months ended December 31, 2024, amounted to $6.24 billion, a 75% increase relative to $3.57 billion reported in 2023. Total comprehensive income for the fourth quarter amounted to $2.52 billion (2023: $570.56 million).
Consequently, earnings per share for the twelve months amounted to $1.28 (2023: EPS: $0.74), while earnings per share for the quarter totalled $0.52 (2023: EPS: $0.12). The number of shares used in these calculations was 4,854,400,000.
Notably, CAR’s stock price closed the trading period on March 3, 2025, at $14.87, with a corresponding P/E ratio of 18.07x.
Balance Sheet Highlights:
The company’s assets totalled $8.83 billion (2023: $7.21 billion). This increase in total assets was attributable to cash and cash equivalents, which amounted to $3.45 billion (2023: $2.04 billion). Additionally, right-of-use assets also contributed to the increase, equating to $790.58 million (2023: $246.37 million).
Shareholders’ equity was $3.76 billion (2023: $2.47 billion), representing a book value per share of $0.77 (2023: $0.51).
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