Umeme Limited Announces Consecutive Losses and Issues Profit Warning

KAMPALA – Umeme Limited has announced that it expects to report a loss for the financial year ended December 31, 2024, and the six-month period ending June 30, 2025. The company's board of directors made the announcement in accordance with the Uganda Securities Exchange Listing Rules.

The company's financial performance for the year ended December 31, 2024, resulted in a loss, as was previously communicated during the Annual General Meeting on July 18, 2025. This trend is expected to continue, with the interim financial statements for the first half of 2025 also indicating a consecutive loss.

The primary reason for the losses is the cessation of revenue generation following the natural end of the concession agreement, which expired on 30th March 2025.

Key Points from the Announcement:

• Financial Performance: The company registered a loss for the year ended December 31, 2024, and is expected to report another loss for the six-month period ended June 30, 2025.

• Reason for Loss: The main cause is the cessation of revenue generation after the end of the concession.

• Ongoing Claims: Umeme continues to pursue claims against the Government of Uganda through ongoing arbitration proceedings.

Further details regarding the performance of Umeme is expected during its announcement of interim financial statements for the period ended June 30, 2025.