John Keells Holdings Plc · CSELK:JKH.N0000
John Keells — Q4 2025/26 Earnings Presentation
40 slides from John Keells's earnings presentation, May 27, 2026
Slide 1: JKH Investor Presentation
JKH Investor Presentation Review of 4Q and annual performance for 2025/26 27 May 2026 Version 3.0
Slide 2: Recurring EBITDA: For the quarter ended 31 March
Recurring EBITDA: For the quarter ended 31 March Recurring EBITDA* Q4 2025/26 Q4 2024/25 Variance Variance (%) (Rs. Million) Transportation 4,153 2,139 2,014 94 Consumer Foods 3,210 2,293 917 40 Retail 6,597 3,415 3,182 93 John Keells CG Auto (JKCG)** 2,123 (57) 2,180 3,825 Supermarkets and John Kee
Slide 3: Quarterly recurring EBITDA movement
Quarterly recurring EBITDA movement Recurring EBITDA 2025/26 2024/25 (Rs. Million) Q4 Q3 Q2 Q1 Q4 Transportation 4,153 2,037 1,933 1,551 2,139 Consumer Foods 3,210 1,403 1,705 1,255 2,293 Retail 6,597 7,712 10,109 7322 3,415 John Keells CG Auto (JKCG) 2,123 4,126 7,463 4,584 (57) Supermarkets and Jo
Slide 4: Recurring EBITDA: For the year ended 31 March
Recurring EBITDA: For the year ended 31 March Recurring EBITDA 2025/26 2024/25 Variance Variance (%) (Rs. Million) Transportation 9,674 7,318 2,356 32 Consumer Foods 7,573 6,684 889 13 Retail 31,740 10,944 20,796 190 JKCG 18,296 (180) 18,476 10,264 Supermarkets and JKOA 13,444 11,124 2,320 21 Leisur
Slide 5: Annual recurring EBITDA movement
Annual recurring EBITDA movement Recurring EBITDA 2025/26 2024/25 2023/24 2022/23 (Rs. Million) Transportation 9,674 7,318 7,570 11,963 Consumer Foods 7,573 6,684 4,993 3,184 Retail 31,740 10,944 8,762 8,779 John Keells CG Auto (JKCG) 18,296 (180) (24) - Supermarkets and John Keells Office Automatio
Slide 6: Reconciliation of Group EBITDA – reported to recurring
Reconciliation of Group EBITDA – reported to recurring (Rs.Million) 2025/26 2024/25 Reported EBITDA 80,013 45,851 Routine adjustments: Fair value gains on investment property (1,040) (162) 2025/26 one-off adjustments: Disposal gain on sale of equity stake in Kandy Walk Inn Limited (KWIL) (1,523) - L
Slide 7: Quarterly movement of finance costs
Quarterly movement of finance costs Finance Costs 2025/26 2024/25 (Rs. Million) Q4 Q3 Q2 Q1 Q4 Transportation 144 133 128 129 131 Consumer Foods 214 116 106 101 101 Retail 1,050 1,041 1,083 996 642 Leisure 3,140 3,339 2,600 2,521 1,768 Property 15 15 14 15 17 Financial Services - - - - 1 Other, incl
Slide 8: Recurring PBT: For the quarter ended 31 March
Recurring PBT: For the quarter ended 31 March Recurring PBT Q4 2025/26 Q4 2024/25 Variance Variance (%) (Rs. Million) Transportation 3,934 1,915 2,019 105 Consumer Foods 2,551 1,839 712 39 Retail 4,354 1,949 2,405 123 John Keells CG Auto (JKCG) 1,525 (57) 1,582 2,775 Supermarkets and John Keells Off
Slide 9: Recurring PBT: For the year ended 31 March
Recurring PBT: For the year ended 31 March Recurring PBT 2025/26 2024/25 Variance Variance (%) (Rs. Million) Transportation 8,847 6,364 2,483 39 Consumer Foods 5,432 4,932 500 10 Retail 23,292 5,197 18,095 348 John Keells CG Auto (JKCG) 16,158 (180) 16,338 9,077 Supermarkets and John Keells Office A
Slide 10: Recurring attributable PAT: For the quarter ended 31 March
Recurring attributable PAT : For the quarter ended 31 March Recurring attributable PAT Q4 2025/26 Q4 2024/25 Variance Variance (%) (Rs. Million) Transportation 3,411 1,744 1,667 96 Consumer Foods 2,001 1,052 949 90 Retail 2,562 1,186 1,376 116 JKCG 830 (57) 887 1,556 Supermarkets and JKOA 1,732 1,24
Slide 11: Recurring attributable PAT: For the year ended 31 March
Recurring attributable PAT: For the year ended 31 March Recurring attributable PAT 2025/26 2024/25 Variance Variance (%) (Rs. Million) Transportation 8,210 6,124 2,086 34 Consumer Foods 3,673 2,829 844 30 Retail 10,299 3,135 7,164 229 JKCG 5,963 (180) 6,143 3,413 Supermarkets and JKOA 4,336 3,315 1,
Slide 12: Insight on Group debt composition
Insight on Group debt composition Refinancing of the long-term loan at Waterfront Long-term debt currency mix: Properties (Private) Limited (WPL): ▪ Long-term FX debt reduced to ~44% of Group borrowings to ▪ USD 189 mn WPL facility refinanced in March 2026 ~USD 335 million (vs. ~55% YoY), reflecting
Slide 13: Portfolio evaluation 2025/26; returns vs. effective capital deployed
Portfolio evaluation 2025/26; returns vs. effective capital deployed ▪ Group ROCE was 9.0% (2024/25: 5.1%). ▪ Excluding CODSL, Group ROCE improved to 16.9% (2024/25: 11.1%), demonstrating stronger underlying portfolio returns. ▪ ~50% of total capital employed remains invested in CODSL, which is in t
Slide 14: Capital allocation and portfolio optimisation
Capital allocation and portfolio optimisation ▪ Active rebalancing through divestment of non-core and low-yielding assets – ~ Rs.6 billion received in cash considerations during the year. ▪ Divested non-core businesses, such as with the sale of the equity stake of Tea Smallholder Factories PLC and t
Slide 15: Group capital expenditure 2025/26
Group capital expenditure 2025/26 Group Capital Expenditure Key capital expenditures in the near-term Rs.20,689 million 64% ▪ Final tranches of deferred payments to contractors in [2024/25: Rs.57,546 million] relation to the construction of the CODSL integrated resort. ▪ Final equity tranche in CWIT
Slide 16: Overview of ESG initiatives
Overview of ESG initiatives Highlights of key governance initiatives: ▪ The Group extends its DE&I commitments, including its zero-tolerance stance on violence, beyond the workplace ▪ Enhanced governance and internal controls through the and into the communities in which we operate through migration
Slide 17: Key financial indicators
Key financial indicators 2025/26 31 March 31 March (Rs. Million) 31 March 31 December 2025 2024 Total debt excl. leases 238,081 232,995 210,411 214,101 Cash and cash equivalents 100,868 93,976 94,169 86,828 Net debt excl. leases 137,213 139,020 116,242 127,272 Net debt excl. leases/Equity (%) 31.2 3
Slide 18: Transportation: Port of Colombo (POC)
Transportation: Port of Colombo (POC) Port of Colombo Port of Colombo Volumes 900 845 823 808 799 800 800 700 620 619 593 585 600 551 505 508 523 TEU'S 000 500 413 396 400 300 361 350 200 263 100 90 0 Q4 Q1 Q2 Q3 Q4 2024/25 2025/26 SAGT SLPA* CICT CWIT *SLPA includes volumes of JCT and ECT terminals
Slide 19: Slide 19
Slide 20: West Container Terminal at the Port of Colombo
West Container Terminal at the Port of Colombo ▪ CWIT completed its first full year of operations in 2025/26. ▪ CWIT recorded strong volume growth, driving profitability ahead of expectations, with a positive PAT achieved despite phase 1-related depreciation. ▪ The terminal has already reached full
Slide 21: Transportation: Q4 2025/26
Transportation: Q4 2025/26 Port Business (South Asia Gateway Terminal) Q4 Earnings Update: 2024/25 2025/26 Volumes (TEUs) Q4 Q4 Q4 Q1 Q2 Q3 Q4 (Rs.mn) 2025/26 2024/25 SAGT 504,790 508,170 523,108 412,867 396,029 Recurring 4,153 2,139 Domestic: EBITDA Transshipment 14:86 10:90 10:90 12:88 13:87 ▪ Gro
Slide 22: Transportation: 2025/26
Transportation: 2025/26 Key Performance Indicators 2021/22 2022/23 2023/24 2024/25 2025/26 SAGT volumes (TEUs '000) 1,831 1,704 1,818 2,068 1,840 Domestic:Transshipment mix 14:86 13:87 10:90 12:88 11:89 CWIT volumes (TEUs '000) - - - - 1,060 Domestic:Transshipment mix - - - - 8:92 Port of Colombo vo
Slide 23: Consumer Foods: Q4 2025/26
Consumer Foods: Q4 2025/26 Q4 Earnings Update: Key performance 2024/25 2025/26 Q4 Q4 indicators (%) (Rs. mn) Q4 Q1 Q2 Q3 Q4 2025/26 2024/25 Volume growth: Recurring 3,210 2,293 Confectionery 10 3 14 2 12 EBITDA Beverages (CSD) 16 (10) 12 17 30 ▪ Strong profitability growth was driven by volume expan
Slide 24: Consumer Foods: 2025/26
Consumer Foods: 2025/26 Key performance indicators (%) 2021/22 2022/23 2023/24 2024/25 2025/26 Volume growth: Confectionery 17 (7) 4 22 8 Beverages (CSD) 18 (7) 10 16 13 Convenience Foods 12 (22) (9) 25 22 Recurring EBITDA margin 17 10 15 17 17 ▪ Beverages: Volumes rose 18%, supported by strong dema
Slide 25: Beverages and Confectionery: EBITDA margin analysis
Beverages and Confectionery: EBITDA margin analysis CSD volumes (indexed) Confectionery volumes (indexed) 160 160 140 120 120 100 80 80 60 40 40 20 0 0 2017/182018/192019/202020/212021/222022/232023/242024/252025/26 2017/182018/192019/202020/212021/222022/232023/242024/252025/26 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 26: Retail: Q4 2025/26
Retail: Q4 2025/26 Supermarket business: Q4 Earnings Update: Key performance 2024/25 2025/26 Q4 Q4 indicators (%) (Rs. mn) Q4 Q1 Q2 Q3 Q4 2025/26 2024/25 Same store sales growth Recurring 16.5 13.9 13.8 14.3* 14.2 6,597 3,415 (net) EBITDA Same store footfall growth 19.1 16.6 19.3 13.2* 8.6 ▪ The Ret
Slide 27: Retail: 2025/26
Retail: 2025/26 Supermarket business: Profitability margin (%) 2021/22* 2022/23* 2023/24 2024/25 2025/26 Same store sales growth (net) 13.2 43.7 10.0 11.1 14.0 Same store footfall growth 4.5 28.3 12.3 14.5 14.3 Average basket value growth 8.0 15.1 (0.1) (0.3) (0.8) Recurring EBITDA (Rs.Milllion) 5,2
Slide 28: Supermarket business EBITDA margins and electricity cost impact
Supermarket business EBITDA margins and electricity cost impact EBITDA and electricity cost 3,500 2,500 Recurring Electricity EBITDA cost (as a % 3,000 margin (%) of revenue) 2,000 Q1 6.7 2.6 Electricity cost (Rs. million) EBITDA (Rs. millions) 2,500 Q2 7.1 2.4 2024/25 1,500 Q3 8.1 2.2 2,000 Q4 9.3
Slide 29: Retail: Q4 2025/26 vs Q4 2024/25
Retail: Q4 2025/26 vs Q4 2024/25 Net Same Same Store ABV Store Sales Footfall 4.7% 14.2% 8.6% Q4 2024/25: Q4 2024/25: Q4 2024/25: ▪ The conversion of standard format ▪ Customer count increased driven by initiatives to ▪ March 2025 NCPI (YoY): (1.9)%. outlets to an extended format, attract new custom
Slide 30: Retail: Q3 2025/26
Retail: Q3 2025/26 New Energy Vehicles business: ▪ JKCG has a order pipeline of over 2,300 vehicles to be delivered in the 2025/26 ensuing months. Q1 Q2 Q3 Q4 ▪ Although demand moderated as pent-up demand normalised, order Number of NEV sold 2,307 3,705 1,936 2,133 momentum strengthened towards the
Slide 31: Tourist arrivals to Sri Lanka: recovery trend post-pandemic
Tourist arrivals to Sri Lanka: recovery trend post-pandemic Sri Lanka - Monthly Tourist Arrivals 320 Month 2018 2024 2025 2026 280 Jan 238,924 208,253 252,761 277,327 Feb 235,618 218,350 240,217 279,328 240 Mar 233,382 209,181 229,298 183,979 200 Apr 180,429 148,867 174,608 135,643 Arrivals ('000) M
Slide 32: Tourist arrivals to the Maldives: recovery trend post-pandemic
Tourist arrivals to the Maldives: recovery trend post-pandemic The Maldives - Monthly Tourist Arrivals 280 Month 2019 2024 2025 2026 240 Jan 151,552 192,385 214,863 227,403 Feb 168,583 217,392 214,091 254,556 200 Mar 162,843 194,227 203,468 166,616 Apr 163,114 168,366 198,322 152,861 Arrivals ('000)
Slide 33: Comparison of pre-pandemic outbound travel – China and India
Comparison of pre-pandemic outbound travel – China and India 180 160 155 140 Number of departures (millions) 120 100 2007 - India GDP Per Capita - USD 1,023 80 Outbound travel - 9.8 million 60 2000 - China GDP Per Capita - USD 959 Outbound travel - 40 10.5 million 27 20 10 4 - 2000 2001 2002 2003 20
Slide 34: Leisure: Q4 2025/26
Leisure: Q4 2025/26 Q4 Earnings Update: 2024/25 2025/26 Q4 Q4 Key indicators (Rs. mn) Q4 Q1 Q2 Q3 Q4 2025/26 2024/25 Colombo Hotels* Recurring 7,185 4,382 EBITDA Occupancy (%) 77 60 73 78 73 Recurring ARR (USD) 75 71 72 73 80 EBITDA excl. 6,017 5,601 EBITDA Margin (%) 22 4 13 15 22 CODSL Sri Lankan
Slide 35: Leisure: 2025/26
Leisure: 2025/26 2024/25 2025/26 Sector Occupancy (%) ARR (USD) Occupancy (%) ARR (USD) Colombo Hotels* 62 81 71 74 Sri Lankan Resorts** 65 97 70 106 Maldivian Resorts*** 84 271 90 276 *Excludes Cinnamon Life and Cinnamon Red Colombo. **Excludes Kandy Myst by Cinnamon. ***ARRs net of Green tax and a
Slide 36: City of Dreams Sri Lanka
City of Dreams Sri Lanka ▪ The Cinnamon Life hotel continued to receive a strong response from both local and international markets, with month-on-month improvements in occupancy driven by rising awareness in key regional markets. ▪ Demand was particularly strong for conferences and large-scale even
Slide 37: Leisure: Q4 2025/26 – City of Dreams Sri Lanka
Leisure: Q4 2025/26 City of Dreams Sri Lanka: 2025/26 Key indicators Q1* Q2* Q3 Q4 Hotel (800 rooms) Occupancy (%) 24 35 45 61 ARR (USD) 99 106 116 118 EBITDA Margin (%) (56) 3 10 18 *Only For 687 rooms at Cinnamon Life hotel. 2024/25 2025/26 Rs. Million Q4 Q1 Q2 Q3 Q4 EBITDA (1,219) (1,000) (64) 1,
Slide 38: Property: Q4 2025/26
Property: Q4 2025/26 Cumulative sales update as at 31 March 2026: Q4 Earnings Update: Number of units Number of Percentage Q4 Q4 sold remaining units Sold (%) (Rs. mn) 2025/26 2024/25 Cinnamon Life: Recurring 1,041 559 The Residence at Cinnamon Life 196 35 85 EBITDA The Suites at Cinnamon Life 147 4
Slide 39: Financial Services: Q4 2025/26
Financial Services: Q4 2025/26 Union Assurance PLC (UA): Q4 Earnings Update: Q4 Q1 Q2 Q3 Q4 Q4 Q4 Key performance 2024/25 2025/26 2025/26 2025/26 2025/26 (Rs. mn) 2025/26 2024/25 indicators (%) (Jan-Mar (Apr-Jun (Jul-Sep (Oct-Dec (Jan-Mar 2025) 2025) 2025) 2025) 2026) Recurring 2,198 2,144 EBITDA GW
Slide 40: Thank You
THANK YOU This document was produced by John Keells Holdings PLC for information purposes only. The information contained in this document are a review of the financial information pertaining to Q4 2025/26 and does not constitute an issue prospectus or a financial analysis. This Investor Presentatio
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