April 15, 2025
AMG Packaging & Paper Company Limited (AMG)
Unaudited Financials for the Six Months Ended February 28, 2025
AMG Packaging & Paper Company Limited (AMG) reported a 4% decrease in revenue, totaling $500.95 million for the six months ended February 28, 2025, compared to $522.50 million in the corresponding period last year. Revenue for the second quarter decreased by 1%, closing at $248.32 million compared to $250.01 million for the comparable quarter of 2024.
Total manufacturing costs amounted to $335.18 million (2024: $317.30 million), representing a 6% year-over-year increase. Consequently, gross profit decreased by 19% to $165.77 million, compared to $205.21 million for the six months ended February 28, 2024. The company booked a gross profit of $79.24 million for the second quarter, versus $99.61 million reported for the similar quarter of 2024.
Administrative expenses increased by 26%, closing at $82.73 million (2024: $65.65 million), while depreciation decreased by 5%, from $26.33 million in 2024 to $25.08 million in the period under review. As a result, total expenses for the six months ended February 28, 2025, amounted to $109.39 million, a 7% increase relative to $101.89 million reported in 2024.
Operating profit for the six months ended February 28, 2025, amounted to $56.39 million, a 45% decrease relative to $103.32 million reported in 2024. Operating profit for the second quarter amounted to $22.40 million (2024: $47.72 million). Other income totaled $5.45 million, a 17% increase from the corresponding period last year (2024: $4.65 million).
Pretax profit for the six months ended February 28, 2025, amounted to $61.84 million, a 43% decrease relative to $107.97 million reported in 2024. Pretax profit for the second quarter amounted to $25.59 million (2024: $49.52 million).
Taxation for the six months ended February 28, 2025, decreased by 35% to $18.20 million (2024: $28.13 million). Net profit for the six months amounted to $43.64 million, a 45% decrease from the $79.84 million reported in 2024. For the second quarter, net profit was $18.76 million (2024: $35.89 million).
Consequently, earnings per share for the six months amounted to $0.09 (2024: $0.16), while earnings per share for the quarter totaled $0.04 (2024: $0.07). The twelve-month trailing EPS was $0.20, and the number of shares used in these calculations was 511,894,285.
Notably, AMG’s stock price closed the trading period on April 14, 2025, at $3.06, with a corresponding P/E ratio of 15.65x.
Balance Sheet Highlights
The company’s assets totaled $1.70 billion (2024: $1.69 billion). This increase in total assets was attributable to cash and cash equivalents, which amounted to $394.16 million (2024: $252.20 million).
Shareholders’ equity was $1.49 billion (2024: $1.30 billion), representing a book value per share of $2.90 (2024: $2.54).
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