Investors House (INVEST) Q3 2024 earnings summary

Executive summary

• Q3 2024 net profit doubled to €1.0M from €0.5M year-over-year, the second-best Q3 in company history; 80% of profit growth was from one-time items, 20% from core business.

• Nine-month net profit reached €7.6M, more than double the previous year and a company record; driven by structural changes and significant transactions.

• No property or company acquisitions in Q3; business continued as expected in both real estate and services segments.

• Strategic goal to become Finland's first real estate dividend aristocrat supported by strong profitability and equity return of 25.3% for the period.

Financial highlights

• Q3 2024 revenue rose 47% to €2.43M; nine-month revenue up 42% to €7.14M year-over-year.

• Q3 net operating income up 143% to €1.31M; nine-month net operating income up 187% to €3.39M.

• Q3 net profit €1.03M (+98%); nine-month net profit €7.62M (+121%).

• Q3 EPS €0.14 (vs. €0.08); nine-month EPS €1.15 (vs. €0.54).

• Equity ratio improved to 48.7% despite increased dividend payout.

Outlook and guidance

• Guidance for 2024: full-year profit expected to be significantly better than 2023, maintaining positive profit warning issued in June.