August 15, 2025
Carreras Ltd (CAR)
Unaudited financials for the six months ended June 30, 2025
Carreras Ltd (CAR) reported a 32% increase in Operating Revenue for the six months ended June 30, 2025, totaling $9.91 billion compared to $7.49 billion in the corresponding period last year. Operating Revenue for the second quarter increased by 15% to $5.50 billion compared to $4.78 billion for the comparable quarter of 2024.
Cost of Operating Revenue amounted to $4.21 billion (2024: $3.64 billion), representing a 16% increase year over year. Consequently, gross operating profit increased by 48% to $5.70 billion compared to $3.85 billion for the six months ended June 30, 2024. The company booked gross operating profit of $3.09 billion for the second quarter versus $2.45 billion for the same quarter of 2024.
Other Operating Income increased by 22% to $137.78 million (2024: $112.63 million), while Administrative, Distribution, and Marketing Expenses increased by 25% from $1.31 billion in 2024 to $1.64 billion in the period under review. CAR’s management stated, “We are focused on managing ongoing macroeconomic pressures as we explore innovative ways to contain costs and heighten efficiencies to deliver improved profitability.”
Profit before Income Tax for the six months ended June 30, 2025, amounted to $4.15 billion, a 55% increase compared to $2.67 billion in 2024. Profit before Income Tax for the second quarter was $2.24 billion (2024: $1.90 billion).
Income tax for the six months ended June 30, 2025, increased by 52% to $1.05 billion (2024: $692.02 million). Net profit for the six months amounted to $3.10 billion, a 57% increase from $1.98 billion in 2024. For the second quarter, Net profit was $1.68 billion (2024: $1.41 billion).
Earnings Per Share for the six months amounted to $0.64 (2024: $0.41), while Earnings Per Share for the quarter totaled $0.35 (2024: $0.29). The twelve-month trailing EPS was $1.34, and the number of shares used in these calculations was 4,854,400,000.
Notably, CAR’s stock price closed the trading period on August 14, 2025, at $17.16, with a corresponding P/E ratio of 12.81x.
Balance Sheet Highlights
The company’s assets totaled $7.33 billion (2024: $5.53 billion). This increase was attributable to cash and cash equivalents, which amounted to $2.26 billion (2024: $2.14 billion).
Shareholders’ equity was $3.02 billion (2024: $2.46 billion), representing a book value per share of $0.62 (2024: $0.51).
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may affect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
