November 19, 2025

Sygnus Credit Investments Limited (SCIJMD)

Unaudited financials for the first quarter ended September 30, 2025:

Expressed in United States dollars (except where indicated otherwise)

Sygnus Credit Investments Limited (SCIJMD) for the first quarter ended September 30, 2025, reported a 22% increase in total interest income totalling $6.55 million compared to $5.35 million in the corresponding three months last year.

Interest expense amounted to $3.37 million (2024: $3.04 million), this represents an increase of 11% year over year. Consequently, net interest income increased by 38% to $3.18 million compared to $2.31 million for the first quarter ended September 30, 2024.

Fair value gains on investment decreased by 61% to close at $1.48 million (2024: $3.78 million), while net foreign exchange gains decreased by 59% from $299,135 in 2024 to $122,071 for the three months. As a result, Total Revenue for the first quarter amounted to $4.87 million, a 24% decrease relative to $6.40 million reported in 2024.

Total Expenses totalled $1.74 million a 33% increase from the corresponding period last year. (2024: $1.31 million). This included:

• Impairment allowance on financial assets for the three months amounted to $497,716, an 854% increase relative to $52,167 reported in 2024.
• Management fees increased by 8% to $864,055, relative to $803,673 in 2024.
• Other expenses amounted to $408,168, up 46% from $279,975 in 2024.
• Performance fees shifted from an expense of US$57,994 in 2024 to a reversal of US$152,963 in 2025.

Profit before tax for the period for the first quarter ended September 30, 2025, amounted to $3.14 million, a 38% decrease relative to $5.09 million reported in 2024.

Tax credit for the three months amounted $41,413 (2024: Tax charge of $166,973). As such, Profit for the year, being total comprehensive income for the three months amounted to $3.18 million, a 35% decrease from the $4.92 million reported in 2024.

Consequently, Earnings Per Share for the three months amounted to $0.01 (2024: EPS: $0.01). The twelve-month trailing EPS was $1.21, and the number of shares used in these calculations was 337,964,858.

Notably, SCIJMD’s stock price closed the trading period on November 19, 2025, at a price of $12.25 with a corresponding P/E ratio of 10.16x.

Balance Sheet Highlights

The company’s assets totalled $217.31 million (2024: $203.36 million). The growth in total assets was primarily due to increases to the following during the period: Cash (+$7.68 million), Receivables (+$3.05 million) and Investments (+$3.01 million).

Shareholder’s equity was $75.35 million (2024: $77.02 million), representing a book value per share of $0.22 (2024: $0.23).

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