Casa Holdings (C04) H2 2024 earnings summary

Executive summary

• FY2024 revenue fell 11.72% YoY to $20.7m amid market slowdown and sales normalizing to pre-GST increase levels; profit after tax rose to $8.0m from $1.7m.

• Earnings benefited from significant non-recurring gains, including the Fiamma stake disposal, currency movements and property disposals; underlying trading segment profit declined.

Financial highlights

• Revenue was $20.714m vs $23.459m; gross profit $9.202m vs $10.281m; cost of sales decreased to $11.512m from $13.178m.

• Profit before tax was $7.929m vs $2.089m; net profit $7.953m vs $1.719m; profit attributable to shareholders $8.115m vs $2.024m.

• Other gains and losses - others rose to $8.632m from $0.572m, including $4.638m gain on Fiamma disposal and $1.751m net currency translation gain.

• Cash and cash equivalents increased to $30.505m from $2.989m, mainly from Fiamma disposal proceeds and joint-venture repayments.

Outlook and guidance

• FY2025 outlook targets revenue growth through greater e-commerce emphasis and GHG emission intensity of 0.015 tCO2/revenue; cleaner energy options include EV vans and assessing solar power.

• Strategy focuses on broader product ranges, stronger brand awareness and sales channels; early Malaysian property-market recovery may create development opportunities.

• FY2025 environmental targets include improving energy and water-use intensity by 1%-4%, employee turnover of 29%, and average staff training of 8 hours.