Investors House (INVEST) Q2 2024 earnings summary

Executive summary

• H1 2024 profit reached €6.6M, the highest in company history, with EPS at €1.01, driven by strong core operations and a significant one-time gain from the JKK sale.

• Q2 2024 delivered a record profit of €5.8M, up from €3.1M in Q2 2023.

• Dividend per share increased for the ninth consecutive year to €0.33, paid in April.

• Strategic targets for 2024–2027 emphasize continued profitability, solvency, and dividend growth.

Financial highlights

• Q2 2024 revenue rose 80% year-over-year to €3.08M; H1 2024 revenue up 40% to €4.72M.

• Q2 2024 net profit was €5.79M, up 86% from Q2 2023; H1 2024 net profit was €6.60M, up 125% year-over-year.

• Net rental income in Q2 2024 increased 238% to €1.91M; H1 2024 net rental income up 224% to €2.07M.

• Q2 2024 EPS was €0.88; H1 2024 EPS was €1.01, both up from prior year periods.

• Dividend yield was 6.3% based on 2023 year-end share price, with payout representing about 60% of 2023 profit.

Outlook and guidance

• 2024 full-year profit is expected to significantly exceed 2023, with positive profit guidance reaffirmed.

• Strategic interim goal is to achieve 10 consecutive years of dividend growth by spring 2025.

• No major investments expected for the rest of the year; focus on operational improvement.

• Market outlook remains cautiously optimistic, with signs of recovery but ongoing macroeconomic uncertainty.

• Strategic targets emphasize continued dividend growth and at least 45% equity ratio.