Holmes Company: 5 Consecutive Quarters of Profit, Solid Growth

Homes Company Leads Real Estate Market with Remarkable Growth, Accelerating IPO Comprehensive real estate company Homes Company has recorded a surplus in the second half of 2024, following a profitable first half, extending its profit streak to an impressive five consecutive quarters. This achievement, resulting from explosive revenue growth and enhanced profitability through operational efficiency, has garnered significant market attention. Homes Company's revenue is demonstrating truly phenomenal growth. Its annual revenue, which was merely 2.8 billion won in 2022, surged by 364.3% to 13 billion won in 2023. In 2024, it recorded 29.8 billion won, achieving explosive growth of 129.2% year-on-year. Notably, in 2024, the company showed a steady upward curve in quarterly revenue, recording 7.31 billion won in Q1, 6.29 billion won in Q2, 6.41 billion won in Q3, and 9.82 billion won in Q4. Remarkable improvements have also been made in terms of profitability. The company, which recorded an operating loss of 3.76 billion won in 2023, successfully turned to profit in 2024, achieving an operating profit of 160 million won and establishing a solid financial foundation. Behind this dazzling growth was a strategic collaboration with global asset management firm ICG. Homes Company successfully employed a strategy of proactively acquiring properties in key areas such as Suwon, Gasan, Seonjeongneung, and Myeongdong using an ICG blind fund, and maximizing asset value through high-quality remodeling. Recently, the company has been pursuing additional funding and business expansion through a partnership with Morgan Stanley. As part of this, a 60-unit officetel remodeling project in Anam-dong, Seongbuk-gu, is underway, targeting completion in the second quarter of 2025. Homes Company's vision for the future is also clear. The company has set a revenue target of over 53 billion won for 2025 and plans to focus on improving its operating profit margin in the mid-to-long term. Lee Tae-hyun, CEO of Homes Company, emphasized, "Even amid the contraction of the real estate PF market, we have selectively secured assets with proven demand and built a stable profit foundation through efficient operations." He also expressed a strong ambition, stating, "We will secure over 10,000 operational rooms by 2029 to achieve economies of scale." Based on this solid growth and grand vision, Homes Company is currently full steam ahead with its IPO (Initial Public Offering) preparations, and plans to further strengthen its competitiveness in the global real estate market.