Unaudited Financial Results for the Nine Months Ended September 30, 2025

Reported in Trinidad & Tobago Dollars (unless otherwise stated):

Guardian Holdings Limited (GHL) reported a 6% increase in insurance revenue, totaling $4.60 billion, compared to $4.34 billion in the corresponding period of the previous year. Insurance revenue for the third quarter grew by 7% to $1.59 billion, up from $1.48 billion in the comparable quarter of 2024.

Insurance service expenses amounted to $2.87 billion (2024: $2.86 billion), representing a 1% year-over-year increase. Consequently, net results from insurance activities rose by 34% to $820.47 million, compared to $613.45 million for the nine months ended September 30, 2024. For the third quarter, the company recorded $394.81 million in net results from insurance activities, up from $211.58 million in the same period of 2024.

Net income from all activities increased by 6% to $1.56 billion (2024: $1.47 billion), while net income for the third quarter amounted to $595.79 million (2024: $514.67 million). Operating expenses increased by 11%, rising from $571.01 million in 2024 to $631.02 million in the current period. As a result, operating profit for the nine months ended September 30, 2025, was $781.36 million, a 4% increase relative to $754.81 million reported in 2024.

The share of after-tax profits of associated companies totaled $14.90 million, a 12% increase compared to $13.31 million in 2024.

Finance charges for the nine-month period amounted to $145.10 million, a 3% increase from $141.47 million in 2024. For the third quarter, finance charges were $49.91 million (2024: $48.34 million).

Profit before taxation for the nine months ended September 30, 2025, increased by 4% to $796.27 million (2024: $768.12 million). The taxation charge for the period was $159.67 million, a 9% decrease compared to $175.65 million in 2024. For the third quarter, the taxation charge amounted to $67.09 million (2024: $66.98 million).

Profit for the period totaled $1.29 billion (2024: $603.78 million), while profit for the third quarter was $240.15 million, compared to $198.83 million in 2024.

Net profit attributable to shareholders for the nine months amounted to $1.28 billion, compared to $598.46 million reported twelve months prior. For the quarter, net profit attributable to shareholders was $237.38 million, up from $197.41 million in 2024.

As a result, earnings per share (EPS) for the nine months ended September 30, 2025, were $5.52 (2024: $2.58), while EPS for the quarter totaled $1.04 (2024: $0.86). The twelve-month trailing EPS was $6.61, based on 232,024,923 shares outstanding.

Notably, GHL’s stock price closed the trading period on October 31, 2025, at JMD$376.21, reflecting a price-to-earnings (P/E) ratio of 3.14x.

Balance Sheet Highlights

The company’s total assets amounted to $38.51 billion (2024: $36.75 billion), driven primarily by investment securities, which totaled $27.35 billion (2024: $25.30 billion).

Shareholders’ equity was $6.06 billion (2024: $4.23 billion), representing a book value per share of $26.11, compared to $18.22 in the prior year.

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