PropNex (OYY) H2 2025 earnings summary

Executive summary

• Achieved record revenue of $1,116.4 million and profit attributable to owners of $70.4 million for FY2025, up 42.6% and 72.0% year-over-year, respectively.

• Maintained market leadership with a 60.6% market share in key property segments and expanded salesforce to 13,945 as of January 2026.

• Declared highest-ever dividend of 9.5 cents per share, with a 99.9% payout ratio and 5.1% yield.

• Marked 25th anniversary with significant community initiatives and became a constituent of the iEdge Singapore Next 50 Index.

Financial highlights

• Revenue rose 42.6% to $1,116.4 million, driven by a 133.9% surge in Project Marketing Services and 14.3% growth in Agency Services year-over-year.

• Gross profit increased 62.1% to $115.0 million, with gross margin improving to 10.3% from 9.1% a year ago.

• Profit attributable to owners climbed 72.0% to $70.4 million, with earnings per share at 9.51 cents.

• Cash and bank balances reached $149.1 million, up 23.4% from the previous year, and the group remained debt-free.

• Dividend per share reached a record 9.5 cents, with a payout ratio of 99.9%.

Outlook and guidance

• Anticipates supportive market conditions in 2026, with projected developer sales of 9,000 units and private resale volume of 14,000–15,000 units.

• Expects private home price growth of 3–4% and HDB resale price growth of 2–3% in 2026.

• Plans to grow salesforce to 16,000 by 2027 and continue investments in training and technology.

• Monitoring geopolitical risks, including the US-Israel-Iran conflict, for potential market impacts.