Pakistan International Bulk Terminal Limited reported earnings per share of PKR 0.92 in FY24 against a loss per share of PKR 1.21 in FY23.
Furthermore, in 1QFY25 the company reported loss per share of PKR 0.18 against earnings per share of PKR 0.32 in SPLY. The management apprised participants that the Reko Diq project is expected to go live in 2028 and as such they would not go into details regarding this deal at this point in time.
The company’s management believes that it should see revenues recovering as the economy continues to stabilize and imports recover along with industrial activity.
It was also clarified that the company cannot give dividends due to covenants in loans from foreign creditors such as IFC. As such, it believes dividends can be started once the amount of about $16 Mn is paid off to these creditors. The terminal’s capacity for handling of coal is 12 million tons per annum.
The lease for the port is for 30 years till 2046 and can be further extended 30 more years. Management was hopeful that a recovery in cement demand and exports will provide an opportunity to grow revenue.
Important Disclosures
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