Annual Report 2024/2025

A LEGACY

IN ACTION

NAVIGATING THE

FUTURE

AITKEN SPENCE PLC | ANNUAL REPORT 2024 - 2025

In honour of the late Deshamanya

D.H.S. Jayawardena, we remember a pioneering entrepreneur, whose legacy of transformation and dynamism continues to inspire us all. As Chairman of Aitken Spence PLC, Mr. Jayawardena’s unwavering dedication, business acumen, and bold leadership guided the

company to new heights, leaving an indelible mark on Sri Lanka’s corporate sector. His remarkable ability to remain agile and lead amidst an ever-evolving business landscape, to create lasting value, has shaped not only our organisation but the future of Sri Lanka’s business environment.

We remain deeply grateful for his innovative contributions and the enduring impact of his work, which will continue to inspire future generations. His legacy of excellence, resilience, and

transformation is a beacon for us all as we strive to carry forward his extraordinary vision in the

years ahead.

A Legacy of Transformation

Mr. Jayawardena joined Aitken Spence PLC's Board on April 1, 2000, and became Chairman on April 25, 2003, where

his leadership and strategic direction transformed the company into one of Sri Lanka’s most successful, diversified blue-chip corporations.

A visionary armed with remarkable business acumen, Mr. Jayawardena’s influence extended beyond Aitken Spence. As founder Chairman and Managing Director

of the Stassen Group of Companies, he served as Chairman of multiple

organisations, including Melstacorp PLC, Distilleries Company of Sri Lanka PLC (DCSL), Lanka Milk Foods (C.W.E.) PLC, Browns Beach Hotels PLC, Balangoda Plantations PLC and Madulsima Plantations PLC. He held directorial positions in numerous public and private companies, including Hatton National Bank PLC.

His leadership extended to public sector institutions, serving as Chairman of Ceylon Petroleum Corporation and SriLankan Airlines. Mr. Jayawardena also contributed to national recovery efforts as a member

of the Apex Task Force to Rebuild the Nation (TAFREN) after the 2004 tsunami.

In recognition of his invaluable services to Sri Lanka, Mr. Jayawardena was awarded the prestigious title “Deshamanya” in

2005. He also served as the Honorary Consul General of Denmark in Sri Lanka and was knighted by Queen Margrethe II of Denmark, in 2010, as a Knight of the Order of Dannebrog for his outstanding

and exemplary contributions to Denmark, and for fostering bilateral ties between Sri Lanka and Denmark.

In 2019, Mr. Jayawardena was ranked No. 1 in LMD’s 100 longest serving chairmen

and in the same year was also recognised in LMD’s 100 Club A- List of 2019 as the ‘Seasoned Tycoon’. He was also named the Most Admired Leader in Business Accomplishments by ICCSL and CIMA Sri Lanka.

Beyond his business achievements, he was known for his entrepreneurial spirit, decisive leadership and a reputation

for revitalising loss-making enterprises. Mr. Jayawardena’s fearless approach and farsighted outlook were a source of inspiration, not just for business leaders, but for the entire corporate landscape of Sri Lanka. His impact remains deeply felt

as he positioned the country on the global business map and uplifted countless communities with his groundbreaking ventures.

A Legacy in Action:

Navigating the Future

At Aitken Spence PLC, our legacy of transformation has long served as the impetus of our journey. Over the years, we have remained resolutely committed to evolving with the times, by responding to challenges and seizing new opportunities to ensure sustainable growth and

lasting value, shaping a company built to last.

We draw strength from a rich history of reinvention, underpinned by values of collaboration, innovation, and foresight: values that have guided us through change, grounded us in challenges,

and allowed us to thrive with integrity.

Our resilience lies not in resistance to change, but in the readiness with which we embrace it. Across every area of influence, we remain agile and future-focused, not for the sake of growth alone, but to preserve our ability to serve, contribute, and lead - no matter the circumstances.

As we navigate an increasingly complex and unpredictable world, we are steered by a quiet confidence borne of our legacy.

Our foundation is strong, our purpose is clear, and our path forward is lit by the knowledge that the same legacy that sustained us through the past will carry us into the future - unshaken.

Contents

1

4

OVERVIEW

4 About this Report

7 Our Sustainability Journey

8 About Us

14 Financial Information

16 Consolidated ESG Performance

23 Our Environmental and Socioeconomic Impact

26 Awards and Accolades Financial Year 2024 – 2025

28 Our History

30 Group Structure

34 Our Year at a Glance

36 Operating Environment

5

2

EXECUTIVE REVIEWS

46 Chairperson’s Message

51 Deputy Chairman and Managing Director’s Message

3 PURPOSE DRIVEN STRATEGY

58 Stakeholder Engagement

62 Aitken Spence’s Alignment to Global Development Needs

68 Determining Materiality

72 Our Strategy

76 Our Value creation Model

78 The Spence IMPACT: Our Sustainability Vision in a Nutshell

OUR MANAGEMENT

80 Board of Directors

88 Group Supervisory Board

89 Management Council

94 Senior Management Committee

GOVERNANCE AND RISK MANAGEMENT

100 Corporate Governance

137 Risk Management

147 Report of the Senior Independent Director

148 Nominations and Governance Committee Report

150 Remuneration Committee Report

152 Audit and Risk Committee Report

155 Related Party Transactions Review Committee Report

157 The Board of Directors’ Statement on Internal Controls

159 Annual Report of the Board of Directors

2 AITKEN SPENCE PLC Annual Report 2024 - 2025

Contents

8

6

SUPPLEMENTARY INFORMATION

7

FINANCIAL STATEMENTS

352 Financial Information

353 Index to Financial Statements

354 Statement of Directors’ Responsibilities

355 Independent Auditor’s Reports

359 Financial Statements and Notes to Financial Statements

481 Consolidated Financial Statements in USD

484 Ten Year Summary

AITKEN SPENCE PLC Annual Report 2024 - 20253

About this Report

(GRI 2-2, 2-3)

This report covers the financial and non-financial performance of Aitken Spence PLC and its subsidiaries, joint ventures and associates located in Sri Lanka and 11 other countries, collectively referred to as the Group. These entities are administratively arranged into 4 sectors and 17 segments as set out on page 9. Financial and non-financial reporting boundaries are aligned and extend to the operating environment and external stakeholders. The report sets out how we create, preserve or erode value through our business activities.

Data has been collected from locations across all our operating countries and

aggregated in a tiered format that aligns with the structure of our financial statements

SEGMENTS

4 AITKEN SPENCE PLC Annual Report 2024 - 2025

CONSOLIDATED REPORT

1

17

4

SECTORS

12

COUNTRIES

About this Report

Financial Capital

The regulatory and voluntarily adopted standards and reporting frameworks are set out below.

Human Capital

Regulatory Requirements

• Companies Act No.7 of 2007

  Intellectual Capital

• Colombo Stock Exchange Continued Listing Rules including Section 9

  Natural Capital

  of the Listing Rule on Corporate Governance

  Social & Relationship Capital

• Sri Lanka Accounting & Audit Standards Act No.15 of 1995

• Sri Lanka Accounting Standards

  Stakeholders

Manufactured Capital

• Securities and Exchange Commission of Sri Lanka Act No. 19 of 2021 and the amendments thereto

  Customers

• Inland Revenue Act No. 24 of 2017 and the amendments thereto

• Foreign Exchange Act No. 12 of 2017 and the amendments thereto

  Employees

  Business Partners

  Communities

  Government & Regulators

  We continue to evolve our integrated report, embracing new standards and thinking to support corporate longevity with sustainable and resilient business models. Our holistic approach drives awareness of the Group’s relevance to and its impacts on the economy, people and the planet. It supports our goal of efficient resource allocation to our strategic priorities that have been determined considering our relevance, interdependencies and impacts.

  Integrated Reporting and Thinking

Investors

Sustainable Profit Growth

Geographical Expansion

Diversify into

New Business Segments

Reduce Resource Footprint and Achieve Net-Zero Emission Status

Employer of Choice

Reporting Principles & Key Concepts

• Impacts

• Materiality

• Strategic focus and future orientation

• Connectivity of Information

• Stakeholder relationships

• Conciseness

• Alignment of financial and non-financial reporting boundaries

• Reliability & Completeness

• Consistency & Comparability

AITKEN SPENCE PLC Annual Report 2024 - 20255

The Group has commenced its journey to implement SLFRS S1 and S2 and you will find evidence of this claim throughout the report. Although there are many points of compliance, we have refrained from stating that we are compliant with these two standards which are mandatory for sustainability reporting from the financial year 2025/2026. This decision was made in line with our corporate values and basic reporting principles enumerated above.

SASB Standards used in the report

ard

This report includes forward looking statements based on external and internal information

available at present to facilitate assessment of the Group’s prospects. These statements involve

a high degree of uncertainty due to the significant volatility and unpredictability in both the global and local economic outlook. The outcomes and impacts of some of these statements relate to

future events which are beyond our control but

can have a significant impact in the Group’s ability to create value. Readers are advised to make

their own judgements using the latest information available at the time of assessment due to the

elevated levels of uncertainty in forward looking

Restatements & Comparability of Information (GRI 2-4)

There were no restatements of financial information during the year, and the financial data presented remains comparable across

the current and prior reporting periods. However, in line with the GHG Protocol and the principle of operational control, the boundary for non-financial reporting was reviewed and revised. As a result, the Group’s on-site management operations

in Fiji have been included within the reporting boundary, reflecting our operational control over those activities. The port operations in Fiji, over which the Group does not have operational control, remain excluded. Additionally, the Sustainable Energy Authority of Sri Lanka published revised grid

emission factors in the latter part of 2021. Accordingly, indirect emissions (Scope 2) from purchased electricity in Sri Lankan operations have been recalculated to reflect these updated factors. To ensure year-on-year

comparability, the non-financial data from 2022 has been restated based on these revisions. Emission factors used are sourced from IPCC

(Intergovernmental Panel on Climate Change) and DEFRA (Department for Environment, Food & Rural Affairs) databases, both recognised globally for their scientific credibility and relevance to environmental reporting.

*Note: The IPCC and DEFRA databases are considered the most credible sources for obtaining emission factors, due to their comprehensive, scientifically validated data and global acceptance in environmental research and policymaking.

External Assurance (GRI 2-5)

Assurance on financial statements have been provided by Messrs.

KPMG, Chartered Accountants.

Assurance on non-financial disclosures, aligned with the GRI Universal Standards (2021), the Integrated Reporting Framework and six industry standards of the Sustainability Accounting Standards Board (SASB), was conducted by Messrs. Ernst & Young, Chartered Accountants.

statements. All forward looking statements are provided without recourse or any liability

whatsoever to the Board or other preparers of the Annual Report due to the reasons enumerated

above.

(GRI 2-3)

A feedback form is provided on page 523 and at aitkenspence.com/feedback. We would

appreciate your feedback on the Annual Report using this form, which can be mailed to the

Company Secretaries with 'Annual Report 2025 Feedback' marked on the top left-hand corner of the envelope, emailed to the address given below, or submitted directly via the aforementioned link.

The form can also be accessed via the QR code provided below.

These responses will be perused by the Management of the Company. We value your feedback and will use the same in improving the Annual Report.

Please contact the following person for inquiries regarding the Annual Report:

Email : comsec@aitkenspence.lk Facsimile :+94 11 244 5406

Mail : No 315, Vauxhall Street, Colombo 2, Sri Lanka

The Board acknowledges its responsibility to ensure the integrity of the Annual

Report and to ensure that it provides a balanced view of its performance addressing all material issues that may have an impact on the Group’s capacity to create

value over the short, medium and long term. The acknowledgment of the Board's responsibility for the Annual Report and its content are given in the Annual Report of the Board of Directors on pages 159 to 164.

The report was approved by the Board of Directors on 12th June 2025.

6 AITKEN SPENCE PLC Annual Report 2024 - 2025

2020/21

Participated in the UNGC’s Target Gender Equality Programme, with Executive Director (current Group Chairperson)

Ms. Stasshani Jayawardena serving as the Company’s ambassador for the programme.

Joined the UNGC’s Climate Ambition Accelerator Programme.

Appointed as the Head of the Working Group on Business & Human Rights at the UNGC Sri Lanka Local Network.

2021/22

Became an early adopter of the GRI Universal Standards (2021).

First Sri Lankan conglomerate to publicly commit to the Science Based Targets initiative (SBTi) and the Business Ambition for 1.5°C.

Celebrated 20 years as a UN Global Compact signatory.

Recognised among the Top 100 Companies in Sustainability 2022 globally, the only

Sri Lankan company featured in this

independent international assessment.

Our Sustainability Journey

2002/03

Aitken Spence became an early signatory to the United Nations Global Compact (UNGC), demonstrating long-term commitment to the UNGC’s Ten Principles in the areas of human rights, labour,

environment, and anti-corruption.

2018/19

Aitken Spence was awarded Best Corporate Citizen in Sri Lanka for the third consecutive year (fourth overall win) and was recognised for the eighth time

among the country’s Top 3 Best Corporate Citizens.

Reviewed and updated the integrated sustainability policy to include 21 policy commitments aligned with material

sustainability topics.

Educated Managing Directors and Division Heads on climate change and disaster

risk reduction (DRR) and established the Group’s core DRR team.

2007/08

The Group’s sustainability priorities were assessed and incorporated into an integrated sustainability policy highlighting 15 policy commitments and

an implementation framework to guide the business segments to roll out action for environmental and social impact control.

Disclosure of non-financial performance of the Group strengthened with the adoption of the Global Reporting Initiative (GRI) framework for the first time to enhance transparency in non-financial disclosures.

2010/11

Commenced measurement and reporting of Scope 1 and Scope 2 greenhouse gas (GHG) emissions.

Became one of the first companies globally to sign the Women’s Empowerment Principles (WEPs), reinforcing the Group’s commitment to gender equality and women’s advancement.

2015/16

Aligned the Group’s business objectives and sustainability targets with seven Sustainable Development Goals (SDGs), selected based on material impacts and opportunities for positive contribution.

2012/13

The Group was recognised as the Best Corporate Citizen in Sri Lanka for 2012 by the Ceylon Chamber of Commerce for

excellence in sustainability and corporate citizenship.

Adopted guidelines of the International Integrated Reporting Council (IIRC) to improve the Group’s narrative and value creation story.

2011/12

Integrated human rights at the workplace and information security into the Group’s integrated sustainability policy and implementation framework.

2006/07

Formed the Group’s cross-functional Sustainability Team, comprising representatives from all business segments.

2005/06

Developed the Group’s initial sustainability strategy, anchored on three focus areas, with Executive Director Dr. Rohan Fernando appointed to lead the sustainability

agenda for Aitken Spence PLC, making Aitken Spence one of the first companies to have a Main Board Director lead the organisation’s sustainability agenda.

2023/24

Participated in COP28 as a private sector delegate and conducted a panel discussion at the Sri Lanka Pavilion on the role of business in development.

Formed the Group’s Sustainability Council, chaired by Executive Director Dr. Rohan Fernando.

Integrated the SASB Standards into the Group’s sustainability reporting framework.

The way forward in sustainability for Aitken Spence PLC introduced to the Group in the ‘Spence IMPACT’ strategy.

2024/25

In recognition of sustained excellence in corporate citizenship, Aitken Spence entered the Hall of Fame as the Best Corporate Citizen of 2024.

Aitken Spence conducted a Disaster Risk Reduction Day where the Group’s disaster vulnerability maps were launched to the public as a service.

The Board approved the Group’s near-term targets towards a net-zero pathway. These targets are currently under review for validation by the SBTi.

Aitken Spence PLC becomes the first conglomerate from Sri Lanka to join the GRI Community as a member.

AAIITTKKEENN SSPPEENNCCEE PPLLCC AAnnnnuuaall RReeppoorrtt 22002244 -- 220022557

About Us

Founded in 1868 in the southern port city of Galle by Scottish merchants Thomas Clark and Patrick Gordon Spence, Aitken Spence PLC has grown for over more than 150 years into one of Sri Lanka’s most respected and diversified conglomerates. Evolving from a trading and shipping agency, today, the Group operates in four sectors across twelve countries in Asia, Oceania, and Africa. Aitken Spence PLC is listed on the Colombo Stock Exchange, reflecting its strong commitment to good governance, transparency, and the creation of sustainable long-term value to stakeholders.

OUR PURPOSE

Inspire to Create Great Futures for All.

OUR VISION

To achieve excellence in all our activities, establish high growth business in Sri Lanka and across new frontiers and become a

globally competitive market leader in the region.

OUR VALUES

• Reliable

• Honest & Transparent

• Warm & Friendly

• Genuine

• Inspire Confidence

  OUR GOALS

  At Aitken Spence, we strive to

• contribute to society through economic growth and the creation of wealth;

• achieve geographical/ industrial expansion and diversification; and

• accomplish sustainable growth ensuring environmental and social governance.

8 AITKEN SPENCE PLC Annual Report 2024 - 2025

About Us

AITKEN SPENCE AT A GLANCE

Our operations are segregated into

(GRI 2-6)

Aitken Spence PLC is the holding company of a portfolio of 121 companies, including 91 subsidiaries

4

Sectors

17

Business

segments

and 30 joint ventures and associates. These businesses are strategically organised into four key sectors: Tourism, Maritime & Freight Logistics, Strategic Investments and Services sector. The detailed Group structure is given on pages 30 to 33.

Aitken Spence continues to play a pivotal role in supporting economic progress across the regions it operates in, contributing to national and regional development through infrastructure investments, job creation, skills development, and capacity building. Its integrated approach to growth fosters connectivity between local businesses and international markets, helping

Tourism

Maritime & Freight Logistics

Hotels Destination Management

Airline GSA

to strengthen global value chains. Sustainability remains central to Aitken Spence’s corporate ethos.

The Group was the first large-scale Sri Lankan conglomerate to commit to the Science Based Targets initiative (SBTi) and has submitted its near-term emissions reduction targets for validation, aligned with its ambition to achieve net-zero emissions by 2030. Further, Aitken Spence has been a signatory of the United Nations Global

Compact (UNGC) for over two decades, demonstrating long-term adherence to the Compact’s Ten Principles on human rights, labour, environment, and anti-corruption.

Services

These commitments are deeply embedded in its business strategies and operations. Through innovation, ethical governance, and a longstanding dedication to sustainability,

Maritime & Port Services

Strategic Investments

Power Generation

Airline GSA (Cargo)

Printing & Packaging

Freight Forwarding & Courier

Apparel Manufacture

Education

Plantations

Integrated Container Services

Aitken Spence PLC continues to shape industries and empower communities across its global footprint.

Insurance Money Transfer

Property Management

Elevators BPO Services

AITKEN SPENCE PLC Annual Report 2024 - 20259

About Us

LOCATIONS OF OPERATIONS (GRI 2-6)

Operating in Countries

8

12 6

7

5 4

9

2 1

11

3

10

1

Sri Lanka

2

Maldives

3

Fiji Islands

4

India

5

Oman

6

Bangladesh

7

British Virgin Islands

8

Myanmar

9

Cambodia

10

Mozambique

11

Singapore

12

United Arab Emirates

GEOGRAPHICAL ANALYSIS

Asset Distribution Revenue by Geography

42%

Graph

58%

45%

Graph

55%

60%

Graph

40%

Sri Lanka Overseas

Sri Lanka Overseas

Sri Lanka Overseas

10 AITKEN SPENCE PLC Annual Report 2024 - 2025

About Us

GROUP HIGHLIGHTS

Throughout its journey, Aitken Spence has been a pioneer across multiple industries. Early milestones include establishing Sri Lanka’s first star-class beach resort, Neptune Hotel in Beruwela (now, Heritance Ayurveda) followed by the country’s first five-star beach resort, Triton Hotel (now, Heritance Ahungalla) in 1981. In 1993, Aitken Spence became the first Sri Lankan resort operator to venture overseas with the acquisition of Bathala Island Resort in the Maldives.

The Group continued its trailblazing legacy by creating Sri Lanka’s first themed hotel, The Tea Factory in Nuwara Eliya (now, Heritance Tea Factory), in 1996.

Aitken Spence was also among the first to expand port management operations internationally, becoming the first Sri Lankan company to form a public-private partnership for overseas port operations. In the energy sector, the Group transcended its traditional corporate identity to emerge as a catalyst for change by developing Sri Lanka’s first and only waste-to-energy power plant. This initiative not only reshaped the physical environment

but also transformed lives, reflecting the spirit of optimism, resilience, and innovation that defines the Aitken Spence legacy that echoes the Group’s purpose,“Inspire to Create Great Futures for All”.

Our story is one of constant transformation, shaped by a proud legacy of innovation, collaboration, and strategic foresight. Rather than resisting change, Aitken Spence embraces it with agility and integrity, enabling the Group to remain relevant, create meaningful impact, and stay ahead of emerging challenges across all sectors.

As we navigate an increasingly complex and dynamic global landscape, Aitken Spence draws strength from its enduring legacy and a culture of continuous transformation. Anchored by a strong foundation and a clear vision for the future, we are committed to advancing sustainably, creating lasting value for

all stakeholders, and building on a legacy that is resilient, future-ready, and inspired by the possibilities of tomorrow.

Revenue

Rs 95.1 Bn

EBITDA

Rs 25.4 Bn

Profit Before Tax

Rs 10.8 Bn

Cash generated from operating activities

Rs 23.6 Bn

Total Assets

Rs 202.0 Bn

Market Capitalisation

Rs 51.9 Bn

Employees

16,513

Females in employment

41.6%

Facilitation of foreign currency to Sri Lanka

Rs 163.1 Bn

A Growing Team

No.

20,000

15,000

10,000

5,000

Profit from Operations

Rs.Mn

20,000

15,000

10,000

5,000

0

(5,000)

Profit after Tax

Rs.Mn

15,000

10,000

5,000

0

(5,000)

0

2020/21

2021/22

2022/23

2023/24 2024/25

(10,000)

2020/21 2021/22 2022/23 2023/24 2024/25

(10,000)

2020/21 2021/22 2022/23 2023/24 2024/25

Tourism

Maritime & Freight Logistics

Strategic Investments

Services

Tourism Strategic Investments

Maritime & Freight Logistics Services

Tourism Strategic Investments

Maritime & Freight Logistics Services

AITKEN SPENCE PLC Annual Report 2024 - 202511

About Us(GRI 2-6)

Aitken Spence legacy and transformation

Sustain Legacy

Navigate Challenges

Create Value

Embrace Change

Innovate

Continuously

Aitken Spence Pioneering Journey

International

Port Management

Expanding port management operations internationally

Overseas Expansion

Venturing into the Maldives with the acquisition of Bathala Island Resort

Waste-to-Energy Power Plant

Developing Sri Lanka’s first waste-to-energy power plant

Created Experiential

Hospitality

Developing Sri Lanka’s first themed hotel, The

Tea Factory

First Five-Star Resort

Launching Sri Lanka’s first five-star beach resort, Triton Hotel

Setting the Standard in Coastal Luxury

Establishing Sri Lanka’s first star-class beach resort, Neptune Hotel

12 AITKEN SPENCE PLC Annual Report 2024 - 2025

About Us

VALUE SHARED WITH OUR STAKEHOLDERS

Rs 13.6 Bn

Paid in direct and indirect taxes

Rs 7.3 Bn

Interest payments

Rs 17.3 Bn

Employee benefits

Rs 1.7 Bn

Dividend paid to our equity shareholders of the Group

Rs 78.9 Mn

Training and development

Rs 281.4 Mn

Funds channelled to

strengthen communities

At the core of Aitken Spence’s enduring success is its people. We nurture a workplace culture that celebrates respect, diversity, and personal development, ensuring our teams are empowered to thrive. Beyond business operations, the Group is deeply committed to uplifting communities through educational programmes, capacity-building initiatives, and support for local entrepreneurship, proving that business success and social progress go hand in hand.

57.7% 25.9% 13.4% 3.1%

63.9% 22.7% 11.1% 2.3%

Rs 6.0 Bn Rs 4.6 Bn Rs (36.0) Mn Rs 326.9 Mn

Rs 108.3 Bn Rs 30.0 Bn Rs 66.0 Bn Rs 7.9 Bn

23.4% 11.6% 51.6% 13.4%

74 27 91 8

AITKEN SPENCE PLC Annual Report 2024 - 202513

Financial Information

Rs. 25.4 Bn Rs. 89.9 Bn

14 AITKEN SPENCE PLC Annual Report 2024 - 2025

Profit from Operations

Rs.Mn

20,000

15,000

10,000

5,000

0

(5,000)

Return on Equity

Tourism Strategic Investments

%

20

15

10

5

0

(5)

Net Assets per Share, Market Value per Share & Price to Book Value

(as at 31st March)

Rs times

200 0.8

150

0.6

100

0.4

(10,000)

50

0.2

2020/21 2021/22 2022/23 2023/24 2024/25

0

0.0

Maritime & Freight Logistics Services

2020/21 2021/22 2022/23 2023/24 2024/25

2021 2022 2023 2024 2025

Net Assets Per Share (Rs.)

Market Value Per Share (Rs.) Price to Book Value (times)

Financial Information

AITKEN SPENCE PLC Annual Report 2024 - 202515

Consolidated ESG Performance

ENVIRONMENTAL PERFORMANCE

In this section, information pertaining to the following GRI disclosures is provided: GRI 302-1, and 302-3.

ENERGY

Total

Tourism

2024/2025

Maritime & Freight Logistics

2023/2024*

Strategic Investments

Services

Total

Total energy consumption (GJ) Non-renewable sources

Petrol Diesel Furnace Oil LPG

Kerosene

Total energy consumed

from non-renewable sources

772,347

476,050

51,926

239,315

5,056

901,543

5,201

379,057

-25,128

2

1,847

324,332

-24,793

-

726

44,370

-

-

-

2,170

9,765

-335

2

458

590

-

-

-

5,041

358,158

134,385

22,422

2

409,388

350,972

45,096

12,272

1,048

520,007

Renewable sources Biomass/fuel wood Briquettes Hydropower

Solar energy Wind energy

Municipal solid waste

Total energy consumed from renewable sources

Total indirect energy

consumption within the organisation

152,463

877

977

2,032

6,251

52,774

11,312

-

-2,032

6,251

-

-

-

-

-

-

-

141,151

877

977

-

-52,774

-

-

-

-

-

-

231,528

667

877

1,852

6,082

477

215,375

19,596

-

195,780

-

241,483

147,583

105,482

6,830

31,263

4,009

140,053

Energy consumption per unit revenue (Rs. Mn)

Energy produced (GJ)

Total energy produced from renewable sources (GJ)

Total energy produced from non-renewable sources (GJ)

9

998,780

7

340,931

5

390

22

657,459

3

-

10

1,353,714

665,508

19,596

390

645,523

-

775,947

333,272

321,335

-

11,937

-

577,767

Energy Consumption

GJ/ Rs. Bn 20

15

10

5

0

2020/21 2021/22 2022/23 2023/24 2024/25

*Note: The data for the 2023/24 period has been revised and restated to reflect updates in the classification and reporting boundary of renewable and non-renewable energy sources, in accordance with the GHG Protocol guidelines.

A substantial proportion of our environmental impact is due to our energy consumption from fossil fuels, resulting in emissions and the depletion of non-renewable resources. Therefore, it

is imperative to monitor the sources of energy used by each business sector through the diverse management systems maintained across the Group. This enables us to formulate strategies effectively to control our impacts and plan the transition to renewable energy sources.

16 AITKEN SPENCE PLC Annual Report 2024 - 2025