John Keells Doubles EBITDA to Rs.18.3Bn; Eyes Stronger Second Half

• 04 Nov 2025
• 0

John Keells Holdings PLC (JKH) posted a robust performance for the quarter ended September 2025, with Group earnings before interest, tax, depreciation and amortisation (EBITDA) soaring 127% to Rs.18.36 billion, from Rs.8.09 billion a year earlier.

Cumulative EBITDA for the first half of FY2025/26 rose 98% to Rs.31.33 billion, reflecting strong contributions across the Group’s portfolio and the operationalisation of major new investments, including City of Dreams Sri Lanka and the West Container Terminal (WCT-1).

Group profit before tax (PBT) surged 243% to Rs.7.8 billion, while profit after tax (PAT) climbed 176% to Rs.4.2 billion. Profit attributable to equity holders of the parent rose to Rs.1.65 billion, up from Rs.1.37 billion in the same period last year. Excluding City of Dreams Sri Lanka and JKCG, the parent’s attributable profit was Rs.2.61 billion, nearly four times last year’s Rs.692 million.

Reflecting confidence in sustained momentum, JKH doubled its interim dividend to Rs.0.10 per share, with a total outlay of Rs.1.77 billion compared to Rs.826 million a year earlier.

The Group said City of Dreams Sri Lanka—which opened its luxury Nuwa Hotel, casino, and premium shopping mall in August—has transitioned out of its investment phase and reached near EBITDA break-even in the quarter, despite launch-related costs. With rising room occupancy and conference bookings, the integrated resort is expected to post a “strong EBITDA uplift” in the second half.

The West Container Terminal (WCT-1) exceeded throughput expectations and is on track to reach profit breakeven ahead of schedule. JKH said it anticipates WCT-1 to become a “meaningful contributor” to Group earnings from next year.

Meanwhile, John Keells Logistics and Consumer Goods (JKCG) recorded a strong quarter, supported by high vehicle deliveries despite delays linked to a Customs dispute. Other business segments, except transportation, also posted growth.

The Group reported a net debt-to-equity ratio of 32%, underscoring a solid balance sheet, and expects further improvement in the net debt-to-EBITDA ratio by year-end.

With several large projects now fully operational and robust sectoral performance, JKH expects its second-half results to surpass the first, reinforcing its growth trajectory for FY2025/26.

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