August 18, 2025
Future Energy Source Company Limited (FESCO)
Unaudited financials for the first quarter ended June 30, 2025:
Future Energy Source Company Limited (FESCO) for the first quarter ended June 30, 2025, reported a 7% decrease in revenue totaling $7.23 billion compared to $7.78 billion in the corresponding three months last year.
Cost of Goods Sold amounted to $6.79 billion (2024: $7.37 billion), which represents a decrease of 8% year over year. Consequently, gross profit increased by 5% to $432.98 million compared to $412.28 million for the first quarter ended June 30, 2024.
Other Income increased to close at $5.18 million, while Impairment losses on financial assets increased to $3.10 million for the three months.
Operating Profit for the three months amounted to $168.74 million, a 9% decrease relative to $185.81 million reported in 2024. Finance Cost totalled $29.37 million, a 22% decrease from the corresponding period last year. (2024: cost of $37.44 million).
Profit Before Taxation for the first quarter ended June 30, 2025, amounted to $139.37 million, a 6% decrease relative to $148.37 million reported in 2024. Net Profit for the three months amounted to $139.37 million, a 6% decrease from the $148.37 million reported in 2024.
Consequently, Earnings Per Share for the three months amounted to $0.06 (2024: EPS: $0.06). The twelve-month trailing EPS was $0.18, and the number of shares used in these calculations was 2,500,000,000. Notably, FESCO’s stock price closed the trading period on August 14, 2025, for $3.65 with a corresponding P/E ratio of 20.16x.
Balance Sheet Highlights
The company’s assets totalled $5.99 billion (2024: $5.29 billion). The company’s asset base growth was primarily driven by a 20% year-over-year (YoY) increase in Property, Plant & Equipment, closing the quarter at $4.27 billion (2024: $3.55 billion). Additional contributors included a 26% YoY rise in Finance Leases to $89.07 million (2024: $70.85 million), a 22% YoY increase in Investment Securities to $28.01 million (2024: $23.01 million), a 43% YoY surge in Inventories to $284.99 million (2024: $199.36 million), and a 19% YoY growth in Receivables to $847.21 million (2024: $709.45 million).
Shareholder’s equity was $2.86 billion (2024: $2.41 billion), representing a book value per share of $1.14 (2024: $0.96).
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