November 24, 2025
Seprod Limited (SEP)
Unaudited financials for the nine months ended September 30, 2025
Seprod Limited (SEP) reported a 21% increase in Turnover, totalling $113.05 billion for the nine months ended September 30, 2025, compared to $93.43 billion in the corresponding period of 2024. Turnover for the third quarter rose by 8%, closing at $37.87 billion versus $35.10 billion for the comparable quarter last year.
Cost of Sales amounted to $82.93 billion (2024: $68.71 billion), representing a 21% year-over-year increase. Consequently, Gross Profit increased by 22% to $30.12 billion, up from $24.72 billion for the nine months ended September 30, 2024. For the third quarter, the company recorded Gross Profit of $9.91 billion, marginally above the $9.80 billion reported for Q3 2024.
Finance & Other Operating Income increased by 89%, closing at $1.79 billion (2024: $949.36 million). Other Operating Expenses rose by 31%, moving from $18.59 billion in 2024 to $24.27 billion in the period under review. As a result, Operating Profit for the nine months ended September 30, 2025, totalled $7.64 billion, reflecting an 8% increase relative to $7.08 billion reported in 2024. Operating Profit for the third quarter amounted to $3.04 billion, up from $2.39 billion in 2024.
Share of Results from Associates and Joint Ventures amounted to $254.53 million for the nine-month period, a 13% decline from $292.52 million in 2024. For the third quarter, this totalled $67.41 million compared to $72.47 million in the prior year. Profit Before Taxation amounted to $4.21 billion, a 5% decrease relative to $4.44 billion recorded in 2024. Profit Before Taxation for the quarter was $1.82 billion (2024: $1.28 billion).
The taxation charge for the nine months amounted to $1.10 billion, a 21% decrease from $1.40 billion reported in 2024. For the third quarter, taxation charge totalled $179.43 million (2024: $436.07 million).
Net Profit from Continuing Operations increased by 3%, amounting to $3.11 billion (2024: $3.03 billion) for the nine months. For the quarter, Net Profit from Continuing Operations was $1.64 billion, significantly above the $846.34 million reported in 2024.
Profit for the period from Discontinued Operations totalled $52.71 million for the nine months, a 12% decrease from $59.83 million in 2024. For the third quarter, this amounted to $25.88 million (2024: $18.68 million).
Net Profit for the nine-month period amounted to $3.06 billion, a 3% increase relative to $2.97 billion in 2024. For the third quarter, Net Profit totalled $1.62 billion, significantly higher than $827.65 million reported in 2024.
Net Profit attributable to shareholders for the nine-month period amounted to $2.55 billion, a 6% increase relative to $2.42 billion in 2024. For the third quarter, Net Profit attributable to shareholders totalled $1.62 billion, significantly higher than $653.84 million reported in 2024.
Finance Costs for the nine months ended September 30, 2025, rose by 25% to $3.68 billion (2024: $2.94 billion).
Earnings Per Share (EPS) for the nine months amounted to $3.22 (2024: $3.29), while EPS for the third quarter was $1.78 (2024: $0.89). The EPS calculations were based on the net profit attributable to stockholders of the Company, using a weighted average of 910.9 million ordinary stock units for the quarter and 792.6 million for the nine-month period (2024: 733.5 million).
Notably, SEP’s stock price closed trading on November 24, 2025, at $81.78, corresponding to a P/E ratio of 21.82x.
Balance Sheet Highlights
Total Assets amounted to $138.32 billion (2024: $121.32 billion), driven primarily by an increase in receivables, which totalled $36.03 billion (2024: $28.75 billion).
Shareholders’ Equity increased to $37.55 billion (2024: $29.74 billion), resulting in a Book Value per Share of $51.19 (2024: $40.54).
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