November 17, 2025
Carreras Ltd (CAR)
Unaudited Financials for the Nine Months Ended September 30, 2025
Carreras Ltd (CAR) for the nine months ended September 30, 2025, reported a 21% increase in Operating Revenue, totaling $15.38 billion compared to $12.72 billion in the corresponding period last year. Operating Revenue for the third quarter increased by 4%, closing at $5.47 billion compared to $5.23 billion for the comparable quarter of 2024.
Cost of Goods Sold amounted to $6.59 billion (2024: $5.84 billion), representing a 13% year-over-year increase. Consequently, Gross Operating Profit rose by 28% to $8.79 billion compared to $6.88 billion for the nine months ended September 30, 2024. The company recorded Gross Operating Profit of $3.08 billion for the third quarter versus $3.03 billion reported for the similar quarter of 2024.
Other Operating Income decreased by 13% to $170.14 million (2024: $196.65 million), while Administrative, Distribution, and Marketing Expenses increased by 14%, moving from $2.11 billion in 2024 to $2.42 billion in the period under review. As a result, Profit from Operations for the nine months ended September 30, 2025, amounted to $6.46 billion, a 30% increase relative to $4.97 billion reported in 2024. Profit from Operations for the third quarter amounted to $2.32 billion (2024: $2.30 billion).
Income Tax for the nine months ended September 30, 2025, increased by 30% to $1.64 billion (2024: $1.26 billion). Net Profit for the nine months amounted to $4.83 billion, a 30% increase from the $3.71 billion reported in 2024. For the third quarter, Net Profit was $1.73 billion, in line with the $1.73 billion reported for the similar quarter of 2024.
Consequently, Earnings Per Share for the nine months amounted to $0.99 (2024: $0.76), while Earnings Per Share for the quarter totaled $0.36 (2024: $0.36). The twelve-month trailing EPS was $1.51, based on 4,854,400,000 shares used in the calculations.
Notably, CAR’s stock price closed the trading period on November 14, 2025, at $17.53, with a corresponding P/E ratio of 11.58x.
Balance Sheet Highlights
The company’s assets totaled $7.01 billion (2024: $6.30 billion). This increase was attributable to higher inventories, which amounted to $631.80 million compared to $274.66 million in 2024.
Shareholders’ Equity was $3.10 billion (2024: $2.98 billion), representing a Book Value per Share of $0.64 (2024: $0.61).
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