May 16, 2025

Future Energy Source Company Limited (FESCO)

Unaudited financials for the twelve months ended March 31, 2025:

Future Energy Source Company Limited (FESCO) for the twelve months ended March 31, 2025, reported a 5% increase in Revenue totaling $30.05 billion compared to $28.68 billion in the corresponding period last year. Revenue for the fourth quarter had a 5% decrease to close at $7.01 billion compared to $7.42 billion for the comparable quarter of 2024.

The Cost Of Goods Sold amounted to $28.38 billion (2024: $27.29 billion), an increase of 4% year over year. Consequently, gross profit increased by 20% to $1.67 billion compared to $1.39 billion for the twelve months ended March 31, 2024. The company booked a gross profit of $379.58 million for the fourth quarter versus $313.49 million reported for the similar quarter of 2024.

Other Income increased by 88% to close at $7.21 million (2024: $3.84 million), while Impairment losses on financial assets decreased by 88% from $4.97 million in 2024 to $600,150 in the period under review.

Operating Profit for the twelve months ended March 31, 2025, amounted to $674.36 million, a 13% increase relative to $594.71 million reported in 2024. Operating Profit for the fourth quarter amounted to $131.20 million (2024: $103.72 million). Finance Cost totalled $161.22 million, a 4% decrease from last year’s corresponding period. (2024: cost of $155.45 million).

Profit Before Taxation for the twelve months ended March 31, 2025, amounted to $513.15 million, a 17% increase relative to $439.26 million reported in 2024. Profit Before Taxation for the fourth quarter amounted to $106.68 million (2024: $49.10 million).

There was no Taxation for the twelve months ended March 31, 2025, relative to an expense of $28.44 million in 2024. Net profit for the twelve months amounted to $513.15 million, a 25% increase from the $410.82 million reported in 2024. For the fourth quarter, Net profit was $106.68 million (2024: $49.10 million).

Consequently, Earnings Per Share for the twelve months amounted to $0.21 (2024: EPS: $0.16), while Earnings Per Share for the quarter totaled $0.04 (2024: EPS: $0.02). The number of shares used in these calculations was 2,500,000,000.

Notably, FESCO’s stock price closed the trading period on May 15, 2025, at a price of $3.65 with a corresponding P/E ratio of 17.78x.

Balance Sheet Highlights

The company’s assets totalled $5.49 billion (2024: $5.08 billion). The total increase in the company’s balance sheet is attributed to a 21% YoY increase in Property, plant, and equipment ending the year at $4.0 billion (2024: $3.30 billion), a 13% YoY increase in right-of-use assets ending the year at $181.86 million (2024: $160.77 million), and a 42% YoY increase in Investments ending the year at $249.88 million (2024: $175.89 million).

Shareholder’s equity was $2.77 billion (2024: $2.15 billion), representing a book value per share of $1.11 (2024: $0.86).

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