Tama Home (1419) Q4 2024 earnings summary

Executive summary

• FY24 revenue and operating income declined YoY; net income attributable to parent shareholders edged up, while real estate growth partly offset weaker housing results.

• FY25 guidance targets lower revenue but higher operating income, ordinary income and net income.

Financial highlights

• FY24 net sales were ¥247,733 million, down 3.3%; gross profit was ¥58,852 million vs. ¥61,637 million, and SG&A was ¥46,265 million vs. ¥48,372 million.

• Operating profit was ¥12,586 million, down 5.1%; ordinary profit was ¥12,877 million, down 4.5%; parent-attributable profit was ¥8,752 million, up 0.4%.

• Operating margin was 5.1% vs. 5.2%; net margin was 3.5% vs. 3.4%.

Outlook and guidance

• FY25 forecast: net sales ¥235,000 million, down 5.1%; operating profit ¥13,700 million, up 8.8%; ordinary profit ¥13,800 million, up 7.2%.

• FY25 parent-attributable profit forecast is ¥9,200 million, up 5.1%; basic EPS is ¥317.37.

• FY25 annual dividend forecast is ¥195 per share.