For the fourth quarter, there probably won’t be any write-downs related to international business operations anymore, so the full-year result might already be clearly positive, assuming the positive earnings momentum continues. In 2024, the fourth quarter’s operating profit was approximately 29% of the full year’s operating profit, and in 2023, about 21.7%. Q4 2023 is probably a somewhat poor comparison point, because at that time, more international units were still part of the group. If we now use that relative share of Q4/2024 operating profit as a base value, then 71% of the full year’s operating profit would have accumulated by 1-9/2025, and thus, with this calculation method, the operating profit for the last quarter would be approximately 8.9 million euros: (21.8 / 0.71) - 21.8 = 8.9.
I was wondering that since -2.7 million euros of the 1-9/2025 fiscal year result is attributable to the parent company’s owners (of which -0.4 million euros is from the third quarter), and +2.1 million euros to non-controlling interests, how might that affect the investment calculations of larger investor entities (institutions and whatever else there is)? If it does affect, it might still keep some investors away from HKFoods’ stock, because the parent company’s owners are still incurring losses from the operations. Of course, I don’t know the accounting principles of the investment world, so this was more of a random chatterer’s musings aloud.