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Highlights

  • Q1 net earnings down 6% year-over-year to $5.40 million
  • Revenue steady at $25.39 million, with 1% rise in service revenue
  • EPS fell to $2.24 from $2.39 in prior-year quarter

Olympia Financial Group Inc. (TSX: OLY) has reported its financial results for the first quarter ended March 31, 2025, showing a modest year-over-year decline in profitability despite stable overall revenue.

Total net earnings and comprehensive income fell 6% to $5.40 million, compared to $5.74 million in the same quarter of 2024. Basic and diluted earnings per share declined in parallel, to $2.24 per share from $2.39.

Total revenue dipped slightly by less than 1% to $25.39 million from $25.46 million. This stability masked underlying shifts: service revenue increased 1% to $12.04 million, attributed to higher monthly and transaction fees tied to a growing client base, while trust, interest, and other income dropped 2% to $13.35 million. The latter decline stemmed from lower interest rates on trust fund placements initiated over the past year.

Operating costs rose marginally. Direct and administrative expenses, excluding depreciation and amortization, climbed 1% to $17.17 million, driven primarily by increased spending on computer support and general maintenance.

Olympia continues to operate across Canada through subsidiaries including Olympia Trust Company and Olympia Currency and Global Payments Inc., offering a range of trust, currency exchange, and benefit services. The company’s financial filings and investor materials are available on SEDAR and its investor relations site.

While the revenue base remains relatively unchanged, margin pressure and lower returns on interest-bearing assets impacted quarterly earnings. Olympia’s results highlight sensitivity to rate environments and operating costs in maintaining earnings performance.