JKH EBITDA grows 75% to Rs. 80.01 billion in 2025/26

Summarised below are the key operational and financial highlights during the year under review:

• The year under review reflected meaningful progress for the Group, underpinned by strong financial performance and encouraging momentum across new initiatives and ventures.
• Over the past several years, the Group has focused on building the foundations for the next phase of growth through significant deployment of capital. These efforts have now begun to translate into improved operating outcomes, broad-based earnings contribution and stronger returns, alongside the continued performance of our established businesses. Collectively, these factors enabled the Group to deliver a strong financial performance with reported Group EBITDA increasing by 75% to Rs.80.01 billion.
• With the culmination of the biggest investment phase in the Group’s history, the Group will transition into a period of generating net positive cash flows. The operationalisation of these investments marks a clear shift in the capital cycle from development to contribution, with overall funding requirements reducing materially in line with expectations. The current net debt to EBITDA at ~2 times is reflective of a comfortable level of leverage, which is expected to improve further. Additionally, the net debt to equity at ~31% demonstrates a strong and flexible balance sheet to support the Group’s long-term growth initiatives.
• Group ROCE improved to 9.0% in 2025/26 from 5.1% in the previous year. Excluding the Group’s integrated resort, which recently commenced operations, the remainder of the portfolio delivered a robust ROCE of 17%, reflecting the underlying return profile of the Group’s established businesses.
• Group recurring EBITDA recorded an increase of 71% to Rs.78.05 billion [2024/25: Rs.45.69 billion]. The substantial uplift in EBITDA during the year was primarily driven by the strong performance of Retail, Transportation and Leisure industry groups. All other businesses also contributed positively to EBITDA growth.
• Group recurring profit before tax increased by 143% to Rs.35.72 billion from Rs.14.72 billion recorded in the previous year.
• Group recurring profit attributable to equity holders of the parent increased by 155% to Rs.13.24 billion for the financial year ended 31 March 2026. [2024/25: Rs.5.19 billion].
• Following the completion and launch of the remaining components of the integrated resort, CODSL recorded a positive EBITDA for the full year. Cinnamon Life’s conference and event spaces have begun to attract interest from both local and international organisers, reflecting the scale and potential of the asset.
• Casino operations have been steadily ramping up with an encouraging pick-up witnessed from the fourth quarter onwards. During the year under review, the Group recognised fixed rental income, while the variable rental component will come into effect once operations reach a certain level of activity, in line with the anticipated ramp-up.
• Colombo West International Terminal, the project company of West Container Terminal (WCT-1), recorded strong throughput growth during the year, supported by an improving volume mix, translating into profitability ahead of expectations. The business recorded a positive profit after tax, ahead of expectations, despite recognising depreciation relating to phase 1. The terminal has already reached full utilisation of phase 1 capacity based on its latest monthly run-rate, despite being within its first year of operations. The addition of CWIT capacity has enabled the Port of Colombo to increase overall volumes, reflecting strong demand dynamics and the rapid absorption of new capacity.
• John Keells CG Auto (JKCG), recorded an exceptional year, supported in part by pent-up demand and the brand positioning and vehicle range of BYD.
• The Beverages and Confectionery businesses recorded strong volume growth. The Beverages business recorded an increase in profitability driven by higher margins whilst the Confectionery business margins were impacted by higher raw material costs and incremental expenses associated with new product introductions within the extruder portfolio, which were launched during the year.
• The Supermarket business delivered a robust performance during the year, recording ~14% growth in same store sales, driven primarily by a 14.3% increase in footfall.
• The Leisure industry group recorded a significant growth in EBITDA, with all sectors contributing to the improvement in profitability, driven by improved occupancies.
• John Keells Properties launched its latest development, Vauxhall DSTRCT in March 2026, a 749‑unit residential project in Colombo 02.
• Nations Trust Bank (NTB) recorded a growth in profitability aided by strong loan growth and a continued reduction in impairments. NTB completed the acquisition of HSBC Sri Lanka’s retail banking franchise, with effect from 1 May 2026, with live operations commencing thereafter. Union Assurance (UA) recorded encouraging double-digit growth in gross written premiums.