Daiwa House REIT Investment, 29% Increase in Ordinary Profit, Record High for The First Time in Six Years

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Thu Oct 17, 2024 3:30 pm JST Earnings

8984 Daiwa House REIT Investment

Earnings Report

Daiwa House REIT Investment <8984> [TSE-REIT] announced its financial results after the market closed on October 17th (15:30). ordinary profit for the fiscal year ending August 2024 decreased by 3.1% from the previous period to 10 billion yen. For the fiscal year ending February 2025, the profit is expected to expand to 28.9% to 12.9 billion yenExpected to reach record high profits for the first time in six years.

At the same time, the company increased the distribution for the previous term from 5750 yen to 5804 yen (compared to 5711 yen in the prior term), and plans to set the distribution for the current term at 6300 yen.

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Actual Results

Historical Performance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug, 2023	29,920	12,914	11,224	11,224	4,838.0	5,643	Oct 18, 2023	J-GAAP
Feb, 2024	29,643	12,138	10,378	10,378	4,473.0	5,711	Apr 16, 2024	J-GAAP
Aug, 2024	32,253	11,923	10,056	10,055	4,346.0	5,804	Oct 17, 2024	J-GAAP
YoY	+8.8%	-1.8%	-3.1%	-3.1%	-2.8%

Full Year Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug, 2024 Guidance	31,974	14,049	12,185	12,184	5,278.5	5,750	Apr 16, 2024	J-GAAP
Aug, 2024 Results	32,253	11,923	10,056	10,055	4,346.0	5,804	Oct 17, 2024	J-GAAP
Revision Rate	+0.9%	-15.1%	-17.5%	-17.5%	-17.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2024	29,643	12,138	10,378	10,378	4,473.0	5,711	Apr 16, 2024	J-GAAP
Aug, 2024	32,253	11,923	10,056	10,055	4,346.0	5,804	Oct 17, 2024	J-GAAP
Feb, 2025 Guidance	32,271	14,850	12,960	12,960	5,646.5	6,300	Oct 17, 2024	J-GAAP
YoY	+0.1%	+24.5%	+28.9%	+28.9%	+29.9%

Quarterly Results