Reported Earnings • Dec 01
First half 2026 earnings released First half 2026 results: Revenue: KSh1.94b (down 17% from 1H 2025). Net loss: KSh326.1m (loss narrowed 5.9% from 1H 2025). New Risk • Nov 30
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 0.7% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (0.7% operating cash flow to total debt). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (24% net profit margin). Market cap is less than US$100m (USh268.2b market cap, or US$73.8m). Board Change • Nov 12
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Non - Executive Director David Ssegawa was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Oct 06
Upcoming dividend of KSh0.32 per share Eligible shareholders must have bought the stock before 13 October 2025. Payment date: 19 December 2025. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of Ugandan dividend payers (10%). Lower than average of industry peers (7.0%). Reported Earnings • Sep 12
Full year 2025 earnings released: EPS: KSh2.05 (vs KSh4.27 in FY 2024) Full year 2025 results: EPS: KSh2.05 (down from KSh4.27 in FY 2024). Revenue: KSh6.08b (down 46% from FY 2024). Net income: KSh1.34b (down 52% from FY 2024). Profit margin: 22% (down from 25% in FY 2024). Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Sep 05
Centum Investment Company Plc, Annual General Meeting, Sep 26, 2025 Centum Investment Company Plc, Annual General Meeting, Sep 26, 2025, at 10:00 E. Africa Standard Time. Declared Dividend • Sep 05
Dividend of KSh0.32 announced Shareholders will receive a dividend of KSh0.32. Ex-date: 13th October 2025 Payment date: 19th December 2025 Dividend yield will be 0.1%, which is lower than the industry average of 11%. Payout Ratios Payout ratio: 7%. Cash payout ratio: 44%. Announcement • Sep 04
Centum Investment Company Plc announces Annual dividend, payable on December 19, 2025 Centum Investment Company Plc announced Annual dividend of KES 0.3200 per share payable on December 19, 2025, ex-date on October 13, 2025 and record date on October 09, 2025. New Risk • Jul 18
New major risk - Revenue and earnings growth Earnings have declined by 3.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 3.2% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (USh208.9b market cap, or US$58.3m). Reported Earnings • Jul 16
Full year 2025 earnings released: EPS: KSh2.05 (vs KSh4.27 in FY 2024) Full year 2025 results: EPS: KSh2.05. Revenue: KSh3.88t (up KSh3.87t from FY 2024). Net income: KSh812.8b (up KSh810.0b from FY 2024). Profit margin: 21% (down from 25% in FY 2024). New Risk • Jun 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 39% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Large one-off items impacting financial results. Market cap is less than US$100m (USh203.6b market cap, or US$56.6m). Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 40% After last week's 40% share price gain to USh331, the stock trades at a trailing P/E ratio of 2.4x. Average trailing P/E is 9x in the Capital Markets industry in Africa. Total returns to shareholders of 4.2% over the past three years. Reported Earnings • Dec 05
First half 2025 earnings released First half 2025 results: Revenue: KSh2.34b (down 57% from 1H 2024). Net loss: KSh346.6m (loss narrowed 19% from 1H 2024). New Risk • Dec 02
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 39% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (USh174.3b market cap, or US$47.2m). Upcoming Dividend • Oct 07
Upcoming dividend of KSh0.32 per share Eligible shareholders must have bought the stock before 14 October 2024. Payment date: 13 December 2024. Payout ratio is a comfortable 7.5% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Ugandan dividend payers (12%). Lower than average of industry peers (6.4%). Reported Earnings • Sep 22
Full year 2024 earnings released: EPS: KSh4.27 (vs KSh6.32 loss in FY 2023) Full year 2024 results: EPS: KSh4.27 (up from KSh6.32 loss in FY 2023). Revenue: KSh11.3b (up 5.1% from FY 2023). Net income: KSh2.81b (up KSh6.99b from FY 2023). Profit margin: 25% (up from net loss in FY 2023). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. Announcement • Sep 06
Centum Investment Company Plc, Annual General Meeting, Sep 30, 2024 Centum Investment Company Plc, Annual General Meeting, Sep 30, 2024, at 10:00 E. Africa Standard Time. Reported Earnings • Jul 31
Full year 2024 earnings released Full year 2024 results: Revenue: KSh11.3b (up 5.0% from FY 2023). Net income: KSh2.60b (up KSh6.78b from FY 2023). Profit margin: 23% (up from net loss in FY 2023). New Risk • May 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 71% per year over the past 5 years. Minor Risks High level of debt (41% net debt to equity). Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Paying a dividend despite being loss-making. Market cap is less than US$100m (USh165.7b market cap, or US$43.5m). New Risk • Aug 13
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 20% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (20% operating cash flow to total debt). Earnings have declined by 60% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (USh160.5b market cap, or US$43.0m). New Risk • Jul 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.7x net interest cover). Earnings have declined by 50% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2022 fiscal period end). Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (USh153.5b market cap, or US$42.2m). New Risk • Jul 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Ugandan stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.7x net interest cover). Earnings have declined by 50% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (USh156.0b market cap, or US$42.3m). Reported Earnings • Jan 28
First half 2023 earnings released: KSh1.18 loss per share (vs KSh0.89 loss in 1H 2022) First half 2023 results: KSh1.18 loss per share (further deteriorated from KSh0.89 loss in 1H 2022). Net loss: KSh1.29b (loss widened 95% from 1H 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Board Change • Jan 08
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Non- Executive Director Catherine Mturi – Wairi was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Non- Executive Director Catherine Mturi – Wairi was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment deteriorated over the past week After last week's 24% share price decline to USh287, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 10x in the Capital Markets industry in Africa. Total loss to shareholders of 73% over the past three years. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Non- Executive Director Catherine Mturi – Wairi was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 05
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Susa Wakhungu-Githuku was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment deteriorated over the past week After last week's 60% share price decline to USh440, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 9x in the Capital Markets industry in Africa. Total loss to shareholders of 61% over the past three years. Reported Earnings • Dec 04
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: KSh0.89 loss per share (up from KSh2.09 loss in 1H 2021). Revenue: KSh5.35b (down 48,771% from 1H 2021). Net loss: KSh662.1m (loss narrowed 67% from 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 11
Full year 2021 earnings released: KSh0.93 loss per share (vs KSh10.25 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: KSh6.80b (down 70% from FY 2020). Net loss: KSh619.0m (down 109% from profit in FY 2020). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 02
Full year 2021 earnings released: KSh0.93 loss per share (vs KSh10.25 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: KSh9.22b (down 63% from FY 2020). Net loss: KSh1.37b (down 120% from profit in FY 2020). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 29
First half 2021 earnings released: KSh2.09 loss per share First half 2021 results: Revenue: -KSh11.0m (down 100% from 1H 2020). Net loss: KSh1.98b (down 129% from profit in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 9% per year.