August 15, 2025
Seprod Limited (SEP)
Unaudited financials for the six months ended June 30, 2025
Seprod Limited (SEP) reported a 29% increase in Turnover for the six months ended June 30, 2025, totaling $75.18 billion compared to $58.33 billion in the corresponding period last year. Turnover for the second quarter increased by 26% to $37.48 billion compared to $29.74 billion for the comparable quarter of 2024.
Cost of Sales amounted to $54.97 billion (2024: $43.40 billion), representing a 27% increase year over year. Consequently, gross profit increased by 35% to $20.21 billion compared to $14.93 billion for the six months ended June 30, 2024. The company booked gross profit of $10.13 billion for the second quarter versus $7.43 billion reported for the same quarter of 2024.
Finance and Other Operating Income decreased by 12% to $349.51 million (2024: $397.36 million), while Administrative Expenses and other operating expenses increased by 50% from $10.63 billion in 2024 to $15.96 billion in the period under review. As a result, operating profit for the six months ended June 30, 2025, amounted to $4.60 billion, a 2% decrease compared to $4.70 billion reported in 2024.
Finance Costs for the six months ended June 30, 2025, increased by 36% to $2.39 billion (2024: $1.76 billion).
Share of Results of associate and joint venture for the six months ended June 30, 2025, amounted to $187.12 million, a 15% decrease compared to $220.05 million reported in 2024. For the second quarter, Share of Results of associate and joint venture amounted to $67.57 million (2024: $78.80 million).
Profit Before Taxation totaled $2.39 billion, a 24% decrease from $3.16 billion in the corresponding period last year.
Taxation for the six months ended June 30, 2025, amounted to $924.31 million, a 5% decrease compared to $968.59 million reported in 2024. For the second quarter, taxation amounted to $433.49 million (2024: $454.49 million).
Net Profit from Continuing Operations for the six months ended June 30, 2025, decreased by 33% to $1.47 billion (2024: $2.19 billion). Profit for the period from discontinued operation for the six months amounted to $26.82 million, a 35% decrease from $41.15 million reported in 2024. For the second quarter, profit for the period from discontinued operation was $9.27 million (2024: $16.76 million).
Net profit for the six months decreased by 33% to $1.44 billion (2024: $2.15 billion). For the second quarter of 2025, net profit amounted to $591.52 million (2024: $941.48 million).
Net profit attributable to shareholders for the six months ended June 30, 2025, was $931.17 million, a 47% decrease compared to $1.76 billion reported in 2024. For the second quarter, net profit attributable to shareholders was $382.76 million (2024: $797.42 million).
Seprod’s management team noted, “The Seprod Group anticipates that the strategic decisions taken during the quarter, particularly those focused on cost management, operational efficiency, and deepening integration across our regional operations to unlock synergies, will position the company to deliver improved margins and a sustained recovery in profitability in the second half of the year and beyond.”
Consequently, Earnings Per Share, based on net profit attributable to shareholders, for the six months amounted to $1.27 (2024: $2.40), while Earnings Per Share for the quarter totaled $0.52 (2024: $1.09). The twelve-month trailing EPS was $2.43, and the number of shares used in these calculations was 733,546,855.
Notably, SEP’s stock price closed the trading period on August 14, 2025, at $83.00, with a corresponding P/E ratio of 34.15x.
Balance Sheet Highlights
The company’s assets totaled $136.38 billion (2024: $105.27 billion). This increase was attributable to inventories, which amounted to $33.82 billion (2024: $24.65 billion).
Shareholders’ equity was $30.55 billion (2024: $29.50 billion), representing a book value per share of $41.65 (2024: $40.21).
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