PropNex (OYY) H2 2025 earnings summary

Executive summary

• Revenue for FY2025 rose 42.6% year-over-year to $1,116.4 million, driven by higher commission income from agency and project marketing services.

• Net profit for FY2025 increased 79.5% to $74.7 million, reflecting strong transaction volumes and improved margins.

• Gross profit margin improved, with gross profit up 62.1% to $115.0 million.

• The Group declared a record total dividend of 9.5 cents per share for FY2025, representing a 99.9% payout ratio.

Financial highlights

• Revenue: $1,116.4 million in FY2025, up from $783.0 million in FY2024.

• Net profit: $74.7 million in FY2025, up from $41.6 million in FY2024.

• Basic and diluted EPS: 9.51 cents in FY2025, up from 5.53 cents in FY2024.

• Cash and cash equivalents increased to $149.1 million as at 31 Dec 2025.

• Equity attributable to owners decreased to $116.1 million due to high dividend payout.

Outlook and guidance

• The Group expects continued positive performance in FY2026, supported by robust sales, expanded salesforce, and stable market conditions.

• Private home prices are projected to grow moderately by 3–4% in 2026, with developers' sales forecasted at around 9,000 units.

• HDB resale transactions are expected to range between 26,000 and 27,000 units in 2026.