GOLDCREST Co (8871) Q2 2027 earnings summary

Executive summary

• H1 FY2027 revenue was ¥21,608m, operating income ¥9,480m, ordinary income ¥8,790m and net income attributable to owners ¥6,003m; all increased YoY.

• Firm demand for owner-occupied homes and selective site acquisitions supported high-quality condominium supply, mainly in central Tokyo.

Financial highlights

• Revenue increased 35.1% YoY to ¥21,608m; gross profit rose 57.4% to ¥13,492m and gross margin increased 8.8 points to 62.4%.

• Operating income rose 81.2% to ¥9,480m; operating margin increased 11.2 points to 43.9%.

• Ordinary income increased 72.6% to ¥8,790m and net income attributable to owners rose 72.6% to ¥6,003m; basic EPS was ¥180.62 versus ¥104.66.

• SG&A increased 20.1% YoY to ¥4,011m, below the 57.4% increase in gross profit.

• Comprehensive income rose 72.7% to ¥6,013m.

Outlook and guidance

• FY2027 forecast remains revenue ¥42,000m, operating income ¥15,900m, ordinary income ¥14,200m and net income attributable to owners ¥9,500m.

• Full-year guidance implies operating margin of 37.9%, ordinary income margin of 33.8% and net income margin of 22.6%; forecast basic EPS is ¥285.84.

• H1 progress against full-year plans: revenue 51.4%, operating income 59.6%, ordinary income 61.9% and net income 63.2%.

• ~200 condominium unit handovers are planned, centered on Crest Prime City Minamisuna; business-use land sales are also expected to contribute to revenue and profit.