Sekisui House (1928) Q1 2025 earnings summary

Executive summary

• Achieved record-high net sales in Q1 FY2024, driven by strong domestic property sales and robust U.S. homebuilding performance.

• Progressed 23% toward full-year net sales target and 26% toward operating profit target.

• MDC Holdings acquisition reflected in balance sheet; P&L impact to appear in Q2.

Financial highlights

• Net sales rose 9.7% year-over-year to ¥777.0 billion; gross profit up 16.7% to ¥161.0 billion.

• Operating profit increased 28.7% to ¥71.7 billion; ordinary profit up 33.7% to ¥70.9 billion.

• Profit attributable to owners of parent grew 20.3% to ¥50.4 billion; EPS at ¥77.83.

• Gross profit margin improved to 20.7%; operating profit margin rose to 9.2%.

• Extraordinary income fell sharply due to prior-year gain on Singapore share sales.

Outlook and guidance

• Full-year net sales plan revised up 15.9% to ¥3,875.0 billion; operating profit target raised 7.1% to ¥300.0 billion.

• EPS forecast increased to ¥322.56; annual dividend per share to rise to ¥129.

• MDC consolidation and higher U.S. dollar exchange rate factored into guidance.