August 13, 2025
VM Investments Limited (VMIL)
Unaudited financials for the six months ended June 30, 2025:
VM Investments Limited (VMIL) for the six months ended June 30, 2025, reported a decrease in Interest Income totaling $871.22 million compared to $872.00 million in the corresponding period last year. Interest Income for the second quarter had a 1% increase to close at $442.93 million compared to $439.86 million for the comparable quarter of 2024.
Interest Expense amounted to $716.26 million (2024: $793.39 million), this represents a decrease of 10% year over year. Consequently, net interest income increased by 97% to $154.95 million compared to $78.61 million for the six months ended June 30, 2024. The company booked net interest income of $63.22 million for the second quarter versus $47.21 million reported for the similar quarter of 2024.
Gains from investment activities decreased by 39% to close at $561.13 million (2024: $915.27 million), while Net fees and commissions increased by 43% from $379.53 million in 2024 to $542.11 million in the period under review. As a result, Total other operating revenue for the six months ended June 30, 2025, amounted to $1.13 billion, a 15% decrease relative to $1.33 billion reported in 2024.
Net interest income and other operating revenue for the six months ended June 30, 2025, amounted to $1.29 billion, a 9% decrease relative to $1.41 billion reported in 2024. Net interest income and other operating revenue for the second quarter amounted to $653.80 million (2024: $497.13 million). VMIL highlighted, “This was mainly driven by the one-off gain of $422.3 million derived from the disposal of the Company’s interest in Carilend in 2024. When normalized for the effect of this transaction, VMIL delivered strong consolidated revenue growth of $300.7 million or 30% over the Q2 2024 results.”
Total operating expenses totalled $1.42 billion a 50% increase from the corresponding period last year. (2024: $943.50 million).
Loss before taxation for the six months ended June 30, 2025, amounted to $59.23 million, a 111% decrease relative to Pre-tax profit of $516.54 million reported in 2024. Loss before taxation for the second quarter amounted to $8.97 million (2024: Pre-tax profit of $60.30 million).
Tax credit for the six months ended June 30, 2025, had a 17% increase to reach $20.02 million (2024: $17.07 million). As such, Net Loss for the six months amounted to $39.22 million, a 107% decrease from the $533.61 million net profit reported in 2024. For the second quarter, Net loss was $6.69 million (2024: Net profit $23.40 million).
Consequently, Loss Per Share for the six months amounted to $0.03 (2024: EPS: $0.36), while Loss Per Share for the quarter totaled $0.004 (2024: EPS: $0.02). The twelve-month trailing LPS was $0.01, and the number of shares used in these calculations was 1,500,025,000.
Notably, VMIL’s stock price closed the trading period on August 12, 2025, at a price of $1.88.
Balance Sheet Highlights
The company’s assets totalled $32.41 billion (2024: $29.24 billion). The growth in total assets was mainly due to a $2.89 billion or 15% increase in Investment Securities to close the period at $21.95 billion (2024: $19.06 billion).
Shareholder’s equity was $3.07 billion (2024: $2.87 billion), representing a book value per share of $2.05 (2024: $1.91).
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