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

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%.

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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%

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