August 18, 2025
Eppley Limited (EPLY)
Unaudited financials for the six months ended June 30, 2025:
Eppley Limited (EPLY) for the six months ended June 30, 2025, reported a 99% increase in Gross Investment Income totaling $783.94 million compared to $394.85 million in the corresponding period last year. Gross Investment Income for the second quarter had a 99% increase to close at $383.52 million compared to $192.29 million for the comparable quarter of 2024. EPLY Highlighted, “The uplift was fueled by higher loan and lease income from an expanded lease portfolio, increased management fees, and rental income following the 2024 consolidation of ECPF.”
Interest expense amounted to $342.75 million (2024: $171.80 million), this represents an increase of 100% year over year. Consequently, net investment income increased by 98% to $441.19 million compared to $223.05 million for the six months ended June 30, 2024. The company booked net investment income of $208.14 million for the second quarter versus $103.52 million reported for the similar quarter of 2024.
Net impairment Gains on financial and contracts assets increased by 8% to close at $193,000 (2024: $179,000), while Administrative Expenses increased by 46% from $168.29 million in 2024 to $246.02 million in the period under review. Also, fees and other operating income for the six months ended June 30, 2025 amounted to $106.50 million, a 54% increase relative to $69.23 million reported in 2024.
Share of Profit from Joint Venture for the six months ended June 30, 2025, amounted to $138.95 million, relative to a loss of $159,000 reported in 2024. Share of Profit from Joint Venture for the second quarter amounted to $67.53 million (2024: Loss of $159,000).
Profit Before Tax totalled $440.81 million a 255% increase from the corresponding period last year. (2024: $124.01 million).
Taxation for the six months ended June 30, 2025, amounted to $30.70 million, a 132% increase relative to $13.23 million reported in 2024. As such, Net Profit for the six months ended June 30, 2025, had a 270% increase to reach $410.11 million (2024: $110.78 million).
Net Profit attributable to Shareholders for the six months amounted to $236.58 million, a 120% increase from the $107.38 million reported in 2024. For the second quarter, Net Profit attributable to Shareholders was $69.01 million (2024: $23.44 million).
Consequently, Earnings Per Share for the six months amounted to $1.23 (2024: EPS: $0.56), while Earnings Per Share for the quarter totaled $0.36 (2024: EPS: $0.12). The twelve-month trailing EPS was $5.41, and the number of shares used in these calculations was 192,468,300.
Notably, EPLY’s stock price closed the trading period on August 15, 2025, at a price of $30.04 with a corresponding P/E ratio of 5.56x.
Balance Sheet Highlights
The company’s assets totalled $21.02 billion (2024: $6.74 billion). The growth in total assets was mainly due to increase to the following during the period: Investment Properties (+$8.51 billion) and Investment in Associates & Joint venture (+$4.38 billion).
Shareholder’s equity was $2.11 billion (2024: $1.25 billion), representing a book value per share of $10.95 (2024: $6.49).
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 effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.