Warning: Undefined variable $size in /var/www/html/wp-includes/media.php on line 1768
March 03, 2025
Carreras Ltd (CAR)
Audited Financials for the Twelve Months Ended December 31, 2024:
Carreras Ltd (CAR) reported a 41% increase in operating revenue, totalling $19.55 billion for the twelve months ended December 31, 2024, compared to $13.84 billion in the corresponding period last year. Operating revenue for the fourth quarter saw a 287% increase, closing at $6.83 billion compared to $1.76 billion for the comparable quarter of 2023.
The cost of operating revenue amounted to $8.66 billion (2023: $7.01 billion), representing a 24% year-over-year increase. Consequently, gross operating profit increased by 59% to $10.89 billion compared to $6.84 billion for the twelve months ended December 31, 2023. The company booked a gross operating profit of $4.01 billion for the fourth quarter versus $1.03 billion reported for the similar quarter of 2023.
Other operating income increased by 12%, closing at $300.84 million (2023: $268.75 million), while administrative, distribution, and marketing expenses increased by 39%, from $2.18 billion in 2023 to $3.04 billion in the period under review. As a result, profit from operations for the twelve months ended December 31, 2024, amounted to $8.19 billion, a 71% increase relative to $4.79 billion reported in 2023.
Profit before income tax for the twelve months ended December 31, 2024, amounted to $8.19 billion, a 71% increase relative to $4.79 billion reported in 2023. Profit before income tax for the fourth quarter amounted to $3.22 billion (2023: $765.60 million).
Income tax for the twelve months ended December 31, 2024, increased by 66% to reach $1.96 billion (2023: $1.18 billion). Net profit for the twelve months amounted to $6.23 billion, a 72% increase from the $3.61 billion reported in 2023. For the fourth quarter, net profit was $2.52 billion (2023: $570.56 million).
Total comprehensive income for the twelve months ended December 31, 2024, amounted to $6.24 billion, a 75% increase relative to $3.57 billion reported in 2023. Total comprehensive income for the fourth quarter amounted to $2.52 billion (2023: $570.56 million).
Consequently, earnings per share for the twelve months amounted to $1.28 (2023: EPS: $0.74), while earnings per share for the quarter totalled $0.52 (2023: EPS: $0.12). The number of shares used in these calculations was 4,854,400,000.
Notably, CAR’s stock price closed the trading period on March 3, 2025, at $14.87, with a corresponding P/E ratio of 18.07x.
Balance Sheet Highlights:
The company’s assets totalled $8.83 billion (2023: $7.21 billion). This increase in total assets was attributable to cash and cash equivalents, which amounted to $3.45 billion (2023: $2.04 billion). Additionally, right-of-use assets also contributed to the increase, equating to $790.58 million (2023: $246.37 million).
Shareholders’ equity was $3.76 billion (2023: $2.47 billion), representing a book value per share of $0.77 (2023: $0.51).
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may affect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
