Investors House (INVEST) Q2 2024 earnings summary

Executive summary

• H1 2024 delivered an exceptional result, with net profit reaching €6.6M and EPS at €1.01, the best half-year result in company history.

• Q2 2024 delivered a record quarterly profit of €5.8M, up from €3.1M in Q2 2023, driven by strong core operations and a profitable divestment of Jyväskylän Kukkulan Kehitys Oy (JKK).

• Strong performance driven by the JKK transaction, contributing €4.7M to results.

• Dividend per share increased for the ninth consecutive year to €0.33, paid in April.

• Strategic targets for 2024–2027 emphasize continued dividend growth, profitability, and at least 45% equity ratio.

Financial highlights

• Q2 2024 revenue rose 80% year-over-year to €3.08M; H1 2024 revenue up 40% to €4.72M.

• Net rental income in Q2 2024 increased 238% to €1.91M; H1 2024 net rental income up 224% to €2.07M.

• Q2 2024 net profit surged 86% to €5.79M; H1 2024 net profit up 125% to €6.60M compared to H1 2023.

• Q2 2024 EPS was €0.88; H1 2024 EPS was €1.01, both up from €0.49 and €0.46 in the prior year periods.

• Q2 2024 operating profit reached €7.65M; H1 2024 operating profit was €8.62M.

Outlook and guidance

• Positive profit warning issued on July 4, 2027, reflecting strong performance.

• 2024 full-year profit is expected to be significantly better than 2023, with positive profit guidance reaffirmed in June.

• Strategic interim goal is to achieve 10 consecutive years of dividend growth by spring 2025.