November 18, 2025
Eppley Limited (EPLY)
Unaudited financials for the nine months ended September 30, 2025:
Eppley Limited (EPLY) for the nine months ended September 30, 2025, reported an 81% increase in Gross Investment Income totaling $1.13 billion compared to $623.13 million in the corresponding period last year. Gross Investment Income for the third quarter had a 50% increase to close at $342.29 million compared to $228.28 million for the comparable quarter of 2024.
Interest expense amounted to $536.97 million (2024: $283.96 million), this represents an increase of 89% year over year. Consequently, net investment income increased by 74% to $589.26 million compared to $339.17 million for the nine months ended September 30, 2024. The company booked net investment income of $148.07 million for the third quarter versus $116.12 million reported for the similar quarter of 2024.
Net impairment losses of financial and contracts assets closed at $29.03 million (2024: $1.87 million).
Fair value gains on investment property increased by 629% to $651.46 million (2024: $89.39).
Administrative Expenses increased by 34% from $314.45 million in 2024 to $422.22 million in the period under review.
Fees and other operating income for the nine months ended September 30, 2025, amounted to $116.73 million, a 50% increase relative to $77.69 million reported in 2024.
Share of Net Profit from Joint Venture for the nine months ended September 30, 2025, amounted to $359.45 million, a 37% decrease relative to $570.73 million reported in 2024.
Profit Before Tax totalled $1.27 billion a 12% decrease from the corresponding period last year. (2024: $1.44 billion).
Taxation for the nine months ended September 30, 2025, amounted to $45.69 million, a 105% increase relative to $22.31 million reported in 2024. As such, Net Profit for the nine months ended September 30, 2025, had a 14% decrease to reach $1.22 billion (2024: $1.41 billion).
Net profit attributable to Shareholders for the nine months amounted to $348.98 million, a 61% decrease from the $900.31 million reported in 2024. For the third quarter, Net profit attributable to Shareholders was $112.39 million (2024: $792.93 million).
Consequently, Earnings Per Share for the nine months amounted to $1.81 (2024: EPS: $4.68), while Earnings Per Share for the quarter totaled $0.58 (2024: EPS: $4.12). The twelve-month trailing EPS was $1.87, and the number of shares used in these calculations was 192,468,300.
Notably, EPLY’s stock price closed the trading period on November 17, 2025, at a price of $31.56 with a corresponding P/E ratio of 16.86x.
Balance Sheet Highlights
The company’s assets totalled $22.40 billion (2024: $20.61 billion). The movement in total assets was mainly due to increases of $1.13 billion in Investment properties and $1.08 billion in Investment in Joint-Venture, while cash declined by $1.41 billion during the period.
Shareholder’s equity was $2.24 billion (2024: $2.10 billion), representing a book value per share of $11.66 (2024: $10.91).
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