The General Manager February 16, 2026
Pakistan Stock Exchange Limited. Stock Exchange Building
Stock Exchange Road Karachi
Fax: 111-573-329FINANCIAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2025
Dear Sir(s),
We would like to inform you that the Board of Directors of the Company, in their meeting held on February 16, 2026, at 5thFloor, The Harbour Front Building, Marine Drive, Block-4, Clifton, Karachi, reviewed and approved the audited financial results of the Company for the year ended December 31, 2025 and recommended the following:
-
CASH DIVIDEND
A Final Cash Dividend for the year ended at Rs. 3.50 per share i.e. 35%. This is in addition to Interim Cash Dividends already paid at Rs. Nil per share i.e. Nil%.
-
BONUS SHARES
NIL
-
RIGHT SHARES
NIL
-
ANY OTHER ENTITLEMENT / CORPORATE ACTION
NIL
- ANY OTHER PRICE-SENSITIVE INFORMATION
NIL
ANNUAL GENERAL MEETINGThe 21stAnnual General Meeting of the Company will be held at Karachi on Friday, April 24, 2026 at 03:30 p.m. (Pak Time). The above entitlement will be paid to the shareholders whose names will appear in the Register of Members on Thursday, April 16, 2026.
BOOK CLOSURE DATESThe Share Transfer Books of the Company will be closed from Friday, April 17, 2026 to Friday, April 24, 2026 (both days inclusive). The transfers received in order at the office of the Company's share registrar, M/s. FAMCO Share Registration Services (Private) Limited, 8-F, near hotel Faran, Block 6, PECHS, Shahra-e-Faisal, Karachi PABX Nos. (92-21) 34380101- 5 and email info.shares@famcosrs.com by the close of business (5:00 p.m.) on Thursday, April 16, 2026 will be treated in time for the purposes of payment of final cash dividend to the transferees and to attend and vote at the Annual General Meeting.
The Annual Report of the Company will be transmitted through PUCARS at least 21 days before holding of Annual General Meeting and shall also be made available on our website https://www.frieslandcampina.com/pk/
Very Sincerely
Imran HusainChief Financial Officer
Copied to:
Listed Companies Department, Supervision Division Securities & Exchange Commission of Pakistan
NIC Building, 63 Jinnah Avenue, Blue Area Islamabad
Encl: As above
STATEMENT OF PROFIT OR LOSS
FOR THE YEAR ENDED DECEMBER 31, 2025
[Amounts in thousand except for earnings per sharel
Note 2025 2024
-----------------Rupees----------------
Revenue from contracts with customers - net | 26 | 104,452,438 | 107,051,450 |
Cost of sales | 27 | (87,058,085) | (90,023,807) |
Gross profit | 17,394,353 | 17,027,643 | |
Distribution and marketing expenses | 28 | (7,431,246) | (8,289,402) |
Administrative expenses | 29 | (1,739,762) | (1,821,635) |
Other operating expenses | 30 | (675,352) | (564,394) |
Other income | 31 | 387,723 | 482,529 |
Operating profit | 7,935,716 | 6,834,741 | |
Finance costs | 32 | (1,182,648) | (3,259,327) |
Profit before taxation | 6,753,068 | 3,575,414 | |
Taxation | 33 | (4,062,420) | (1,372,286) |
Profit for the year | 2,690,648 | 2,203,128 | |
EarningG per share - basic and diluted | 34 | 3.51 | 2.87 |
The annexed notes 1 to 49 form an integral part of these financial statements.
Chairman Chief Executive Officer Chief Financial Officer
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED DECEMBER 31, 2025
(Amounts in thousand)
Note
2025 2024
-----------------Rupees-----------------
Profit for the year
Items that will not be reclassified to profit or loss | ||||
Remeasurement (loss) / gain on post employment benefits obligation | 37.6 | (50,102) | 110,839 | |
Other comprehensive (loss) / income:
2,690,648
2,203,128
Less: Income tax thereon | 14,530 | (32,143) | ||||
Other comprehensive (loss) / income for the year, net of tax | (35,572) | 78,696 | ||||
Total comprehensive income for the year | 2,655,076 | 2,281,824 | ||||
The annexed notes 1 to 49 form an integral part of these financial statements. |
Chief Executive Officer Chief Financial Officer
STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2025
(Amounts in thousand)
ASSETS
Non-Current Asaets
Note
2025 2024
---••--••-••--••-•Rupeee---• •--•
Property, plant and equipment Biological assets Intangible assets | 6 | 13,180,788 3,339.651 38,278 | 12,407,339 3,380.848 51,246 | |
Right-of-use assets | 7 | 1,973,115 | 1,667,486 | |
Deferred tax asset - net | 20 | 715,639 | ||
Long term advances and deposits | 515,665 | 314,269 | ||
19,047,497 | 18,536.827 | |||
Current Aseets | ||||
Stores, spares and loose tools | 8 | 878,280 | 962,255 | |
Stock-in-trade | 9 | 9,885,899 | 9,361,738 | |
Trade debts | 10 | 1,557,223 | 1,368,890 | |
Advances, deposits and prepayments | 11 | 432,499 | 665,091 | |
Accrued mark-up / interest | 4,273 | 34,364 | ||
Other receivables | 12 | 563,658 | 922,853 | |
Sales tax recoverable - net | 13 | 2,296,438 | 5,056,428 | |
Taxes recoverable | 1,499,433 | 1,956,081 | ||
Short-term investments | 14 | 140,000 | 65,000 | |
Cash and bank balances | 15 | 1,205,438 | 2,745,744 | |
18,463.141 | 23,138,444 | |||
TOTAL ASSETS | 37,510,638 | 41,675,271 | ||
EQUITY AND LIABILITIES | ||||
Equity | ||||
Share capital | 16 | 7,665,961 | 7.665,961 | |
Share premium | 17 | 865,354 | 865,354 | |
Remeasurement of post employment benefits - Remeasuremenl loss | (253,469) | (217,897) | ||
Unappropriated profit | 8.688,605 | 8,144,426 | ||
16,966,451 | 16,457,844 | |||
Non•Current Liabilities
969,774 1,062,993 617,609 2,650,376 |
17,000 525,183 15,894,841 669,365 8,616 29,081 3,629 746,096 |
17,893,811 |
318,000 870,594 |
1,188,594 |
593,823 11,857,311 936,579 6,668 9,793 475,471 9,838,888 310,300 |
24,028,833 |
Long term:
- finances | 18 |
- lease liabilities against right-of-use assets | 19 |
Deferred tax Iiabili - net | 20 |
Current Liabilities | |
Current portion of long term: - finances | 18 |
- lease liabilities against right-of-use assets | 19 |
Trade and other payables | 1 |
Contract liabilities Unclaimed dividend Accrued interest / mark-up on: | 22 |
long term finances
short term finances
Supplier financing - unfunded 23
Short term finances 24
Contingencies and Commitments
TOTAL EQUITY AND LIABILITIES
The annexed notes 1 to 49 form an integral part of these financial statements.
20,544.187
25
37,510,638
25,217,427
41,675,271
Chairman Chief Executive Officer Chief Financial Officer
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED DECEMBER 3t, 2025
(Amounts in thousand)
RESERVES
SHARE CAPITAL REVENUE
CAPITAL share Remeasurement Unappropriated
premium of post profit
employment benefitsTOTAL
.....................................................Rupeesw•••••••••••••••. •. • ••••••••••••••••••••›
Balance as at January' 1, 2024 7,665,961 | 865,354 | (296,593) | 5,941.298 | 14,176,020 | |
Profit for the year Other comprehensive income for the year | 78,696 | 2,203,128 | 2,203,128 78,696 | ||
Total comprehensive income for the year | 78,696 | 2,203,128 | 2,281,824 | ||
Balance ag at January 1, 2025 7,665,961 | 865,354 | (217,897) | 8,144,426 | 16,4$7,844 | |
Transaction with owners: - Final dividend for the year ended December 31, 2024 @ Rs. 2.8 per share | (2,146,469) | (2,146,469) | |||
Profit for the year Other comprehensive loss for the year | (35,572) | 2,890,648 | 2,690,648 (35,572) | ||
Total comprehensive income for the year | (35,572) | 2,690,648 | 2,655,076 | ||
Balance as at December 31, 2025 | 7,665,961 | 865,354 | (253,469) | 8,688,605 | 16,966,451 |
The annexed notes 1 to 49 form an integral part of these financial statements.
Chairman Chief Executive Officer Chief Financial Officer
FRIESLANDCAMPINA ENGRO PAKISTAN LIMITED | ||||
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2025 | ||||
(Amounts in thousand) | ||||
Note | 2025 | 2024 | ||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||
Cash generated from operations | 35 | 6,339,316 | 8,170,488 | |
Finance costs paid | (1,433,006) | (3,344,395) | ||
Taxes paid | (2,257,994) | (1,794,486) | ||
Contribution to defined benefit gratuity fund | 37 | (120,060) | (110,050) | |
Long term advances and deposits - net | (201,396) | (61,052) | ||
Net cash generated from operating activities | 2,326,860 | 2,860,505 | ||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||
Purchases of : | ||||
| 4.5 | (2,615,258) | (3,238,534) (1,101) | |
Short term inVestments - net | 14 | (75,000) | (65,000) | |
Proceeds from disposal of: | ||||
- property, plant and equipment | 4.4 | 179,996 | 729,193 | |
- biological assets | 551,585 | 294,421 | ||
Interest income received | 164,505 | 153,877 | ||
Net cash utilized in investing activities | (1,794,172) | (2,127,144) | ||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||
Dividend paid | (2,144,521) | (106) | ||
Proceeds from / (Repayment of) short term finance - net | 123,151 | (75,085) | ||
Proceeds from long term finances | 18.2 | 668,774 | 318,000 | |
Repayment of long term finances | 18.2 | (750,000) | ||
Repayment of lease liabilities against right-of-use assets | (1,033,043) | (913,030) | ||
Net cash utilized in financing activities | (2,385,639) | (1,420,221) | ||
Net decrease in cash and cash equivalents | (1,852,951) | (686,860) | ||
Cash and cash equivalents at beginning of the year | 2,391,618 | 3,078,478 | ||
Cash and cash equivalents at end of the year | 36 | 538,667 | 2,391,618 | |
The annexed notes 1 to 49 form an integral part of these financial statements.
Chairman Chief Executive Officer Chief Financial Officer