PropNex Full Year 2023 Earnings: Misses Expectations

PropNex (SGX:OYY) Full Year 2023 Results

Key Financial Results

• Revenue: S$838.1m (down 19% from FY 2022).
• Net income: S$47.8m (down 23% from FY 2022).
• Profit margin: 5.7% (down from 6.1% in FY 2022). The decrease in margin was driven by lower revenue.
• EPS: S$0.065 (down from S$0.084 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

PropNex Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 15%.

Looking ahead, revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Real Estate industry in Singapore.

Performance of the Singaporean Real Estate industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Before you take the next step you should know about the 1 warning sign for PropNex that we have uncovered.

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