PropNex (OYY) H2 2025 earnings summary

Executive summary

• Achieved record full-year revenue of $1.1 billion and net attributable profit of $70.4 million for FY2025, marking the strongest performance in 25 years.

• Earnings surged 72.0% year-over-year, driven by a rebound in private residential project launches and strong sales activity.

• Expanded salesforce to over 14,000, representing nearly 38% of Singapore's real estate salespersons.

Financial highlights

• Revenue rose 42.6% year-over-year to $1.1 billion in FY2025.

• Net attributable profit increased 72.0% to $70.4 million compared to FY2024.

• Gross profit climbed 62.1% to $115.0 million year-over-year.

• Earnings per share grew 72.0% to 9.51 cents.

• Full-year dividend reached a record 9.5 cents per share, with a payout ratio of 99.9% and yield of 5.1%.

Outlook and guidance

• Expects continued strong performance in FY2026, supported by revenue recognition from robust new private home sales in 4Q2025 and an expanded salesforce.

• Projects developers' sales at around 9,000 units and private resale transactions at 14,000–15,000 units in 2026.

• Anticipates private home prices to grow 3–4% and HDB resale prices to rise 3–4% in 2026.

• Market stability expected due to moderate interest rates and strong upcoming supply.