May 18, 2026
Seprod Limited (SEP)
Unaudited financials for the first quarter ended March 31, 2026:
Seprod Limited (SEP) for the first quarter ended March 31, 2026, reported a 3% decrease in Revenue totalling $36.42 billion compared to $37.69 billion in the corresponding three months last year.
Cost of Sales amounted to $26.72 billion (2025: $27.62 billion), representing a decrease of 3% year over year. Consequently, Gross Profit decreased by 4% to $9.70 billion compared to $10.07 billion for the first quarter ended March 31, 2025.
Other Operating Income increased by 700% to close at $952.25 million (2025: $118.99 million), while Other Operating Expenses increased by 1% from $7.80 billion in 2025 to $7.89 billion for the three months. As a result, Operating Profit for the first quarter amounted to $2.76 billion, a 16% increase relative to $2.39 billion reported in 2025.
Finance Costs for the first quarter ended March 31, 2026, amounted to $1.17 billion, a 1% increase relative to $1.15 billion reported in 2025. Share of Results of Associate and Joint Venture for the three months amounted to $95.42 million, a 20% decrease relative to $119.55 million reported in 2025. Profit Before Taxation totalled $1.69 billion, a 24% increase from the $1.36 billion reported in the corresponding period last year.
Taxation for the first quarter ended March 31, 2026, amounted to $15.31 million, a 97% decrease relative to $490.82 million reported in 2025. Net Profit from Continuing Operations for the three months had a 93% increase to reach $1.67 billion (2025: $867.47 million). Net Loss from Discontinued Operations for the three months amounted to $20.62 million, compared to a net loss of $17.55 million reported in 2025.
Net Profit for the first quarter ended March 31, 2026, amounted to $1.65 billion, a 94% increase relative to $849.92 million reported in 2025. Net Profit attributable to shareholders amounted to $1.67 billion, a 204% increase relative to $548.40 million reported in 2025.
Total Comprehensive Income for the first quarter amounted to $1.64 billion, an 84% increase relative to $887.53 million reported in 2025. Total Comprehensive Income attributable to shareholders amounted to $1.65 billion, a 182% increase relative to $586.02 million reported in the prior year.
Consequently, Earnings Per Share for the three months amounted to $1.83 (2025: EPS: $0.75). The twelve-month trailing EPS was $5.48, and the number of shares used in these calculations was 910,945,538. Notably, SEP’s stock price closed the trading period on May 15, 2026, at a price of $81.25 with a corresponding P/E ratio of 14.82x.
Balance Sheet Highlights
The company’s assets totalled $136.44 billion (2025: $133.40 billion). The increase in total assets was mainly driven by Investment Properties, which amounted to $2.27 billion, as well as higher Receivables, which increased to $34.56 billion from $32.94 billion. Cash and Bank Balances also increased to $6.35 billion from $5.28 billion. This was partly offset by a decline in Property, Plant and Equipment to $26.14 billion from $26.74 billion and a decrease in Deferred Tax Assets to $2.25 billion from $3.64 billion.
Shareholders’ Equity was $39.94 billion (2025: $30.17 billion), representing a book value per share of $43.85 (2025: $33.12).
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