Mr D.I.Y. Group (MRDIY) Q4 2024 earnings summary

Executive summary

• Revenue for 4QFY2024 increased 2.6% year-over-year to RM1,177.1 million, driven by new store openings and a 13.8% increase in store count to 1,435 locations.

• Total transactions rose 5.9% year-over-year, but average basket size declined 3.0% due to weaker consumer sentiment.

• Profit before tax for 4QFY2024 fell 7.8% year-over-year to RM195.6 million, and profit after tax declined 7.2% to RM147.2 million.

• For the full year ended 31 December 2024, revenue grew 6.7% to RM4,651.4 million, with profit after tax up 1.5% to RM568.9 million.

Financial highlights

• Gross profit for 4QFY2024 increased 4.6% year-over-year to RM549.3 million, with gross margin improving to 46.7%.

• Full-year gross profit rose 7.9% to RM2,132.6 million, with gross margin at 45.8%.

• Administrative and other operating expenses for the quarter rose 25.0% and 12.0% year-over-year, respectively, due to business expansion and higher staff costs.

• Earnings per share for 4QFY2024 were 1.56 sen basic and 1.55 sen diluted; full-year EPS was 6.02 sen basic and 6.01 sen diluted.

Outlook and guidance

• The group plans further store expansion and introduction of new retail concepts in 2025 to drive revenue and profitability.

• Monitoring the revised minimum wage implementation, which may increase costs but could boost consumer spending.

• Focus remains on long-term growth through investments in technology and automation.