February 16, 2025

Proven Group Limited (PROVEN)

Unaudited financials for the nine months ended December 31, 2025:

Proven Group Limited (PROVEN) for the nine months ended December 31, 2025, reported a 3% increase in Interest Income totaling US$30.34 million compared to US$29.43 million in the corresponding period last year. Interest Income for the third quarter had a 9% increase to close at US$10.33 million compared to US$9.48 million for the comparable quarter of 2024.

Interest Expense amounted to US$20.34 million (2024: US$17.03 million), this represents a decrease of 19% year over year. Consequently, net interest income decreased by 19% to US$10.00 million compared to US$12.41 million for the nine months ended December 31, 2024. The company booked net interest income of US$3.57 million for the third quarter versus US$3.85 million reported for the similar quarter of 2024.

Gross loss on property sales decreased by 64% to close at US$92,000 (2024: Gross loss of US$253,279), while Gross profit on manufacturing operations decreased by 8% to close at US$13.08 million (2024: US$14.18 million). Also, total Operating revenue increased by 6% from US$16.69 million in 2024 to US$17.72 million in the period under review.

As a result, Net Revenue for the nine months ended December 31, 2025, amounted to US$40.70 million, a 5% decrease relative to US$43.02 million reported in 2024. Net Revenue for the third quarter amounted to $13.72 million (2024: US$13.65 million).

Total operating expenses for the nine months ended December 31, 2025, amounted to US$43.36 million, an 8% increase relative to US$40.17 million reported in 2024.

Operating Loss for the nine months ended December 31, 2025, amounted to US$2.66 million, a 193% decrease relative to US$2.85 million operating profit reported in 2024. Operating loss for the third quarter amounted to $1.07 million (2024: Operating profit US$300,732).

Share of Results of Associates totalled US$5.66 million a 102% increase from the corresponding period last year. (2024: US$2.81 million).

Profit before taxation totalled US$3.01 million a 44% decrease from the corresponding period last year. (2024: US$5.40 million).

Taxation Charge for the nine months ended December 31, 2025, amounted to US$460,000, a 49% decrease relative to US$905,561 reported in 2024. As such, Net Profit for the nine months ended December 31, 2025 had a 43% decrease to reach US$2.55 million (2024: US$4.50 million).

Net Profit Attributable to Shareholders for the nine months amounted to US$1.45 million, a 39% decrease from the US$2.38 million reported in 2024. For the third quarter, Net loss Attributable to Shareholders was US$896,000 (2024: Net profit of US$1.08 million).

Consequently, Earnings Per Share for the nine months amounted to US$0.002 (2024: EPS: US$0.003), while Loss Per Share for the quarter totaled US$0.001 (2024: EPS: US$0.001). The twelve-month trailing EPS was US$0.002 (J$0.31) and the number of shares used in these calculations was 801,732,000.

Notably, PROVEN’s stock price closed the trading period on February 13, 2026, at a price of J$13.20 with a corresponding P/E ratio of 42.23x.

Balance Sheet Highlights

The company’s assets totalled US$1.20 billion (2024: US$1.12 billion). The growth in total assets was led by Investment Securities increasing by US$99.54 million or 24% to US$521.85 million to close the period.

Shareholder’s equity was US$117.01 million (2024: US$110.51 million), representing a book value per share of J$23.33 (2024: J$21.54).

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