Wigton Windfarm Limited (WIG)

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

Wigton Windfarm Limited (WIG) for the twelve months ended March 31, 2025, reported a 10% decrease in Sales totalling $1.85 billion compared to $2.06 billion in the corresponding period last year. Sales for the fourth quarter had a 14% decrease to close at $481.06 million compared to $561.36 million for the comparable quarter of 2024.

Cost of sales amounted to $858.67 million (2024: $790.11 million), this represents an increase of 9% year over year. Consequently, gross profit decreased by 22% to $993.10 million compared to $1.27 billion for the twelve months ended March 31, 2024. The company booked gross profit of $282.76 million for the fourth quarter versus $524.62 million reported for the similar quarter of 2024.

Other Income increased by 58% to close at $499.24 million (2024: $316.66 million), while general administrative expenses increased by 13% from $686.04 million in 2024 to $777.86 million in the period under review.

Consequently, operating profit for the twelve months ended March 31, 2025, amounted to $714.47 million, a 20% decrease relative to $897.69 million reported in 2024. Operating profit for the fourth quarter amounted to $137.35 million (2024: $392.14 million). Finance Expense totalled $349.20 million a 14% decrease from the corresponding period last year. (2024: $405.99 million).

Profit before taxation for the twelve months ended March 31, 2025, amounted to $360.39 million, a 25% decrease relative to $480.84 million reported in 2024. Profit before taxation for the fourth quarter amounted to $55.82 million (2024: $301.85 million).

The tax charge incurred for the twelve months ended March 31, 2025, amounted to $57.46 million (2024: Tax credit of $358.18 million). Net Profit for the twelve months amounted to $302.93 million, a 64% decrease from the $839.02 million reported in 2024. For the fourth quarter, Net Profit was $74.51 million (2024: $348.44 million).

Consequently, Earnings Per Share for the twelve months amounted to $0.03 (2024: EPS: $0.08), while Earnings Per Share for the quarter totalled $0.01 (2024: EPS: $0.03). The twelve-month trailing EPS was $0.03 and the number of shares used in these calculations was 11,000,000,000.

Notably, WIG’s stock price closed the trading period on May 30, 2025, at a price of $1.26 with a corresponding P/E ratio of 45.75x.

Balance Sheet Highlights

The company’s assets totalled $9.67 billion (2024: $10.41 billion). This movement in total assets was mainly attributable to a $692.32 million decline in ‘Cash and deposits’ amounting to $3.09 billion (2024: $3.78 billion).

Shareholder’s equity was $5.32 billion (2024: $5.20 billion), representing a book value per share of $0.48 (2024: $0.47).

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