SRE Holdings (2980) Q4 2025 earnings summary

Executive summary

• FY2024 net sales rose 10.2% to ¥26,690.9 million, operating profit increased 40.5% to ¥3,108.0 million, and EBITDA grew 47% to ¥3.813 billion; Q4 AICC ARR reached ¥6.269 billion, up 46%.

• FY2026 guidance targets net sales of ¥35,000 million (+31.1%), operating profit of ¥4,050 million (+30.3%), and profit attributable to owners of parent of ¥2,220 million (+30.8%).

• Acquired MEDIX, expanding healthcare presence and recurring revenue; launched services and collaborations with Paramount Bed and Mizuho Bank.

Financial highlights

• FY2024 ordinary profit increased 41.1% to ¥2,903.8 million; profit attributable to owners of parent rose 22.2% to ¥1,697.1 million, or ¥1.856 billion adjusted for specified special factors.

• Basic EPS was ¥105.46, up from ¥85.83; comprehensive income rose 26.4% to ¥1,842.7 million.

• ROE was 13.2%; the FY2024 dividend was ¥15 per share.

Outlook and guidance

• FY2026 guidance includes ordinary profit of ¥3,650 million (+25.7%), EBITDA of ¥4.841 billion (+27%), and basic EPS of ¥137.88.

• AICC targets revenue of ¥10.0 billion (+33%) and segment profit of ¥3.4 billion (+38%); Q4 ARR target is ¥8.66 billion (+38%).

• L&P targets revenue of ¥27.68 billion (+35%), segment profit of ¥1.18 billion (+14%), and year-end AUM of ¥165.6 billion (+43%).

• AICC growth is expected to be led by LH, with revenue forecast up 48%; PT revenue is forecast up 19%.

• Forecast excludes undetermined M&A proceeds and anticipates higher interest rates amid macroeconomic uncertainty.