HouseFreedom Co.,Ltd., January-September (Third Quarter Cumulative) Ordinary Profit Decreases by 45%, July-September Ordinary Profit Decreases by 56%

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Mon Nov 11, 2024 4:00 pm JST Earnings

8996 HouseFreedom Co.,Ltd. 【J-GAAP】

Earnings Report

HouseFreedom Co.,Ltd. <8996> [TSE-S] announced its financial results after the market closed on November 11th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) dropped by 45.3% from the same period last year to 187 million yen. The progress rate against the 600 million yen full-year plan was 31.2%, also falling below the five-year average of 71.9%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to expand by 71.4% from the same period last year, reaching 413 million yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit significantly dropped to 69 million yen, a 55.8% decrease compared to the same period last year. The operating profit margin drastically worsened from 6.3% in the same period last year to 2.8%.

Kabutan News

Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2022	8,920	314	245	192	47.8	44.3	Nov 10, 2022	J-GAAP
Jan - Sep, 2023	7,779	418	342	193	47.9	58.7	Nov 10, 2023	J-GAAP
Jan - Sep, 2024	9,626	274	187	82	20.7	31.2	Nov 11, 2024	J-GAAP
YoY	+23.7%	-34.4%	-45.3%	-57.5%	-56.7%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	6,908	451	397	247	61.3	40	Feb 13, 2024	J-GAAP
Jul - Dec, 2024 Guidance	6,863	525	482	346	90.3	40	Aug 2, 2024	J-GAAP
YoY	-0.7%	+16.4%	+21.4%	+40.1%	+47.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	12,966	662	553	420	104.2	44	Feb 10, 2023	J-GAAP
Dec, 2023	11,788	686	583	343	85.2	40	Feb 13, 2024	J-GAAP
Dec, 2024 Guidance	13,000	700	600	400	104.4	40	Feb 13, 2024	J-GAAP
YoY	+10.3%	+2.0%	+2.9%	+16.6%	+22.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	2,899	183	156	97	24.1	6.3	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	4,009	268	241	150	37.2	6.7	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	1,878	-77	-106	-90	-22.4	-4.1	May 10, 2024	J-GAAP
Apr - Jun, 2024	4,259	252	224	144	35.8	5.9	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	3,489	99	69	28	7.1	2.8	Nov 11, 2024	J-GAAP
YoY	+20.4%	-45.9%	-55.8%	-71.1%	-70.6%