Aitken Spence reports healthy financial results

• Achieves EBITDA of Rs. 25.4 b in FY25 reflecting resilient growth

Aitken Spence PLC, a leading conglomerate with a diverse regional presence, has recorded a strong EBITDA of Rs. 25.4 billion, reflecting resilient growth for the 12 months ended 31 March 2025 (FY25). The EBITDA represents the earnings of the Group before interest cost, tax, depreciation, and amortisation and includes the share of profits from equity-accounted investees.

The Group also recorded an impressive operational performance for FY25, with profit from operations, including the share of equity-accounted investees, reaching Rs. 16.4 billion, reflecting a 12.5% year-on-year (YoY) growth.

The Group delivered a robust performance across its diverse business segments, with the Tourism sector emerging as the key contributor, accounting for 54.9% of the Group’s total contribution.

The Group’s Tourism sector demonstrated a notable improvement recording a Profit Before Tax (PBT) of Rs. 6 billion for the year ended 31 March 2025. The destination management segment retained its market leadership, accounting for 18% of total tourist arrivals to Sri Lanka. Growth was primarily driven by increased arrivals from traditional source markets, which in turn supported the moderate expansion of non-traditional markets. Meanwhile, the Hotels segment reported higher occupancy levels across both local and international properties, reflecting a strong recovery of the hospitality sector to near pre-pandemic levels across the region.

The Group’s Maritime and Freight Logistics sector achieved a PBT of Rs. 4.6 billion for the year ended 31 March 2025. The cargo agency representation and overseas operations segment delivered a strong performance, complemented by the continued momentum of the integrated container services segment. Meanwhile, the shipping liner agency representation and port management segments remained resilient, demonstrating stability amidst volatility in a rapidly evolving global trade environment.

The Group’s Strategic Investment sector recorded a loss of Rs. 36 million whilst the Group’s Services sector recorded a PBT of Rs. 326 million for the year ended 31 March 2025. The combined performance of the printing and packaging, plantations, and power generation segments showed an improvement compared to the previous year, which was offset by increased losses in the garments sector which continues to face challenges due to global trade volatility and mounting costs. Overall, the Strategic Investment sector reported a significantly lower loss compared to the previous year. 

The Group’s Services sector was impacted by dips in performance of the elevators and money transfer segments. However, the Group’s latest investment in BPO operations achieved a significant milestone in its first full year of operations, delivering healthy returns.

In addition, the Group reported a PBT of Rs. 10.8 billion, representing a significant 61% YoY growth, underscoring the Group’s strong financial discipline and operational efficiency. Further, the Group recorded a decline in net finance cost by 29.3%, reflecting the gradual decline in interest rates, which also assisted in the growth of the PBT for the year.

The Group made significant strides in enhancing its environmental performance, with energy consumption per unit of revenue reducing by 12.0%, emissions per unit revenue reducing by 28.2%, and water consumption per unit revenue reducing by 18.7% compared to financial year 2023/24—highlighting the success of ongoing initiatives to improve resource efficiency and reduce emissions. In alignment with its long-term sustainability vision, the Board has approved the Group’s near-term targets as part of its commitment to achieve net zero emissions by 2030. 

Aitken Spence emerged as the overall winner and received the prestigious Grand Slam Award for winning the award five times at the Best Corporate Citizen Sustainability Awards (BCCSA) 2024 organised by The Ceylon Chamber of Commerce. It is the only corporate in Sri Lanka to be ranked among the Top 10 Corporate Citizens for an unmatched 19 consecutive years.

Aitken Spence PLC is the first Sri Lankan conglomerate to join the Global Reporting Initiative (GRI) Community—a global network of organisations committed to shaping the future of sustainability reporting. The GRI is the world’s most widely adopted framework for sustainability disclosure, providing internationally recognised standards that help organisations report on their economic, environmental, and social impacts. For Sri Lanka, where sustainability standards are rapidly evolving, GRI plays a critical role in guiding credible and comparable reporting. By joining this community, Aitken Spence strengthens its commitment to transparency, continuous learning, and global collaboration—ensuring the company remains at the forefront of impact-driven business strategy.

Listed in the Colombo Stock Exchange since 1983, Aitken Spence is anchored to a heritage of excellence spanning over 150 years and driven by a team of more than 16,500 across 17 industries in 12 countries: Sri Lanka, Maldives, Fiji, India, Oman, Bangladesh, British Virgin Islands, Myanmar, Cambodia, Mozambique, Singapore, and the UAE.