Steamships Trading Company (SST) H2 2025 earnings summary

Executive summary

• Delivered robust financial results in 2025 despite moderate economic growth and no new major resource projects.

• Revenue rose 11.3% year-over-year, driven by Logistics and Property divisions.

• Profit attributable to shareholders increased 46.3% to K67.1 million; underlying profit up 104.7% to K65.3 million.

• Continued disciplined capital deployment and investment in human capital, assets, and systems.

• Safety remains a top priority, with ongoing initiatives to strengthen safety culture.

Financial highlights

• Revenue and other income from continuing operations: K821.1 million, up 10% from 2024.

• Profit attributable to shareholders: K67.1 million, up 46%.

• Underlying profit: K65.3 million, up 105%.

• Cash generated from operations: K125.9 million, down 20%.

• Earnings per share: 216.3 toea, up 46%.

• Dividends per share: 105 toea, up 50%.

• Shareholders' funds: K1,112.8 million, up 4%.

• External borrowings: K533.8 million, up 27%.

Outlook and guidance

• Cautiously positive outlook for 2026, with focus on balance sheet strength and operational efficiency.

• Continued disciplined capital allocation and assessment of resource-related project opportunities.

• Hospitality division to continue multi-year asset renovation program through 2027.