February 12, 2025
VM Investments Limited (VMIL)
Unaudited financials for the year ended December 31, 2025:
VM Investments Limited (VMIL) for the year ended December 31, 2025, reported a 1% decrease in Interest Income totaling $1.73 billion compared to $1.75 billion in the corresponding period last year. Interest Income for the fourth quarter had a 7% decrease to close at $422.85 million compared to $454.66 million for the comparable quarter of 2024.
Interest Expense amounted to $1.55 billion (2024: $1.60 billion), this represents a decrease of 3% year over year. Consequently, net interest income increased by 22% to $184.14 million compared to $151.40 million for the year ended December 31, 2024. The company booked net interest expense of $2.45 million for the fourth quarter versus net interest income of $33.30 million reported for the similar quarter of 2024.
Gains from investment activities decreased by 37% to close at $900.81 million (2024: $1.44 billion), while Net fees and commissions decrease by 0% from $1.01 billion in 2024 to $1.01 billion in the period under review. As a result, other operating revenue for the year ended December 31, 2025, amounted to $1.97 billion, a 21% decrease relative to $2.49 billion reported in 2024.
Net interest income and other operating revenue for the year ended December 31, 2025, amounted to $2.15 billion, a 19% decrease relative to $2.64 billion reported in 2024. Net interest income and other operating revenue for the fourth quarter amounted to $352.67 million (2024: $634.08 million).
Total operating expenses totalled $2.22 billion a 7% decrease from the corresponding period last year. (2024: $2.38 billion).
Profit before taxation for the year ended December 31, 2025, amounted to $80.55 million, a 82% decrease relative to $454.68 million reported in 2024. Profit before taxation for the fourth quarter amounted to $135.60 million (2024: Pre-tax Loss of $204.27 million).
Taxation for the year ended December 31, 2025, had an 8% decrease to reach $93.32 million (2024: $101.04 million). As such, Net Profit for the year amounted to $173.87 million, a 69% decrease from the $555.72 million reported in 2024. For the fourth quarter, Net Profit was $155.79 million (2024: Net Loss of $91.49 million).
Consequently, Earnings Per Share for the year amounted to $0.12 (2024: EPS: $0.37), while Earnings Per Share for the quarter totaled $0.10 (2024: LPS: $0.06). The twelve-month trailing EPS was $0.12, and the number of shares used in these calculations was 1,500,025,000.
Notably, VMIL’s stock price closed the trading period on February 12, 2026, at a price of $1.80 with a corresponding P/E ratio of 15.53x.
Balance Sheet Highlights
The company’s assets totalled $35.21 billion (2024: $30.46 billion). The growth is total assets was largely due to a $5.04 billion increase in Investment Securities to close the period at $24.52 billion.
Shareholder’s equity was $3.07 billion (2024: $3.07 billion), representing a book value per share of $2.05 (2024: $2.05).
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