• Sales revenue up 11.3% to K798.2 million
• Profit before tax includes K25.3 million for ERP upgrade, K19.7 million net gain on property disposals, and K2.9 million from insurance proceeds
• Proposed final dividend of 65 toea per share, total dividend for FY2025 of K1.05 per share

Steamships Trading Company Limited delivered a stronger financial performance for the year ended 31 December 2025, with sales revenue increasing by 11.3% to K798.2 million. Profit before tax includes K25.3 million in cash spend related to the ongoing upgrade of the company's enterprise resource planning (ERP) system, K19.7 million net gain on property disposals, and K2.9 million from insurance proceeds. Profit attributable to shareholders increased by 46.3% to K67.1 million. Underlying profit attributable to shareholders, excluding the impact of significant items, grew by 104.7% to K65.3 million. Depreciation in 2025 was K123.9 million, and interest expense on net borrowings (excluding capitalised interest) was K6.4 million. Capital expenditure for the year was K201.6 million, and the Group's net operating cash flow generation increased by 12.6% to K176.3 million. The company has proposed a final dividend of 65 toea per share, bringing the total dividend for the year to K1.05 per share (2024: 70 toea per share).

Steamships maintains a positive but measured outlook for the year ahead, with capital allocation to remain disciplined and a focus on balance sheet strength, operational efficiency and prudent capital management.

The Group will continue to prioritize balance sheet strength, operational efficiency and prudent capital management in assessing growth opportunities, while monitoring potential opportunities associated with natural resources-related projects.