PropertyGuru Group Reports Financial Results for Q2 FY2023
August 26, 2023
🌥️Earnings Overview
On August 24, 2023, PROPERTYGURU GROUP ($NYSE:PGRU) announced their financial results for the second quarter of FY2023, which concluded on June 30 of the same year. Total revenue in the quarter was SGD 36.9 million, a 11.7% increase compared to the same period of the prior year. Net income, however, was reported at SGD -6.5 million; a decrease compared to the SGD 3.8 million reported in Q2 of FY2022.
Market Price
The stock opened at $4.1 and closed at $4.0, a decrease of 1.5% from its last closing price of $4.1. The higher gross profit was driven by cost efficiencies achieved due to their digitalization efforts. The company attributed this growth to higher revenue and cost efficiencies achieved through their digitalization efforts. With this positive performance, PropertyGuru Group is confident that they will continue to deliver strong results in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Propertyguru Group. More…
| Total Revenues | Net Income | Net Margin |
| 144.17 | -29.37 | -19.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Propertyguru Group. More…
| Operations | Investing | Financing |
| -9.02 | -29.26 | -22.12 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Propertyguru Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 715.59 | 103.75 | 3.76 |
Key Ratios Snapshot
Some of the financial key ratios for Propertyguru Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.4% | – | -19.0% |
| FCF Margin | ROE | ROA |
| -25.0% | -2.8% | -2.4% |
Analysis
At GoodWhale, we recently conducted an analysis of PROPERTYGURU GROUP‘s fundamentals. Based on our Risk Rating, we determined that it is a high risk investment in terms of financial and business aspects. We have detected 3 risk warnings in the company’s income sheet, balance sheet and cashflow statement. If you would like to know more, please become a registered user of GoodWhale and check out the details. More…
Peers
The competition between PropertyGuru Group Ltd and its competitors – Yuexiu Services Group Ltd, Times Neighborhood Holdings Ltd and Cardiff Property (The) PLC – is fierce, as each company strives to be the leader in the property market. With each offering different services and strategies, it is a constant battle to stay ahead and provide the best services for their customers.
– Yuexiu Services Group Ltd ($SEHK:06626)
Yuexiu Services Group Ltd is a Hong Kong-based services conglomerate that provides a range of integrated services, including financial services, investment management, engineering construction, and logistics. Its market capitalization is 6.53 billion dollars as of 2023, which makes it one of the largest companies in the region. Moreover, it has a strong financial performance, with a return on equity of 11.68%. This shows that the company has been able to generate a significant return on its investments and is well-positioned to continue to grow and expand in the future.
– Times Neighborhood Holdings Ltd ($SEHK:09928)
Neighborhood Holdings Ltd is a real estate investment trust (REIT) that specializes in acquiring, developing and managing residential real estate properties in the United States. The company currently has a market cap of 1.04 billion as of 2023, which reflects the value of its assets and the confidence investors have in its future prospects. In addition, Neighborhood Holdings Ltd has an impressive return on equity (ROE) of 9.79%, which is higher than the industry average. This indicates that the company is efficiently utilizing its assets to generate profits and is well-positioned for future growth.
– Cardiff Property (The) PLC ($LSE:CDFF)
The Cardiff Property PLC is a real estate company that specializes in developing and managing residential, industrial, and commercial properties. The company has a market capitalization of 25.99M as of 2023 which is indicative of its financial performance and solidity. Additionally, the company has a Return on Equity (ROE) of 5.74%, which is relatively high compared to similar companies in the industry. This strong performance is due to their focus on providing quality services to their customers and their commitment to delivering strong returns to shareholders.
Summary
PropertyGuru Group reported their second quarter financials for FY2023, showing total revenue of SGD 36.9 million, an 11.7% year-over-year increase. Net income fell to SGD -6.5 million, a decrease from the 3.8 million reported in the same period the prior year. From an investing perspective, PropertyGuru’s Q2 results demonstrate a shift from profitability to bottom-line losses, however the top line suggests that the company is still recording strong growth. Investors should monitor future quarters to see if the company can restore its bottom line while maintaining its revenue growth.
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