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National Post
03-06-2025
- Business
- National Post
Dream Unlimited Corp. Presents at Annual General Meeting
Article content TORONTO — Dream Unlimited Corp. (TSX: DRM) ('Dream', the 'Company' or 'we') will be providing an investor update along with general business at its Annual General Meeting (the 'AGM') at the TMX Market Centre, 120 Adelaide Street West in Toronto today. Article content At the AGM, the Company's senior management team will discuss its key segments, its business plans and strategies and future growth drivers to generate returns and improve the quality of the Company's income. A copy of the presentation will be archived and available on our website at Click on the link for News then click on Events. Article content Article content As part of the update, the Company included an updated net asset value ('NAV') per share of $51.64 which compares to standalone book equity per share of the Company of $30.53, each as of March 31, 2025. Article content About Dream Unlimited Corp. Article content Dream has an established and successful asset management business, inclusive of $28 billion of assets under management as at March 31, 2025 across four Toronto Stock Exchange ('TSX') listed trusts, our private asset management business and numerous partnerships. We are a leading developer of exceptional real estate assets across Canada and Europe, including income properties that will be held for the long term as they are completed. We also develop land for sale in Western Canada. Dream has a proven track record for being innovative and for our ability to source, structure and execute on compelling investment opportunities. A comprehensive overview of our holdings is included in the 'Summary of Dream's Assets and Holdings' section of our MD&A for the first quarter of 2025. Article content In addition to using financial measures determined in accordance with International Financial Reporting Accounting Standards as issued by the International Accounting Standards Board ('IFRS Accounting Standards'), we believe that important measures of operating performance include certain financial measures that are not defined under IFRS Accounting Standards. In this press release, there are references to certain non-GAAP financial measures and ratios, including NAV per share and standalone book equity per share, which management believes are relevant in assessing the economics of the business of Dream. These performance and other measures are not financial measures under IFRS Accounting Standards, and may not be comparable to similar measures disclosed by other issuers. However, we believe that they are informative and provide further insight as supplementary measures of financial performance, financial position or cash flow, or our objectives and policies, as applicable. Article content ' Dream Impact Trust and consolidation and fair value adjustments ' represent certain IFRS Accounting Standards adjustments required to reconcile Dream standalone and Dream Impact Trust results to the consolidated results as at March 31, 2025. Management believes Dream Impact Trust and consolidation and fair value adjustments provides investors useful information in order to reconcile it to the Dream Impact Trust financial statements. Article content Consolidation and fair value adjustments relate to business combination adjustments on acquisition of Dream Impact Trust on January 1, 2018 and related amortization, elimination of intercompany balances including the investment in Dream Impact Trust units, adjustments for co-owned projects, fair value adjustments to the Dream Impact Trust units held by other unitholders, and deferred income taxes. Article content 'Standalone Book Equity' Article content is a non-GAAP financial measure that represents shareholders' equity attributable to Dream on a non-consolidated basis. This metric excludes the impact of Dream Impact Trust and consolidation and fair value adjustments. It is intended to reflect how management measures the equity value of the core business operations of Dream. Article content is a non-GAAP ratio and is calculated as Standalone Book Equity divided by the number of Class A subordinate voting shares and Class B common shares of Dream outstanding as of that date. Standalone Book Equity per unit as of March 31, 2025 is calculated below. Article content 'Dream Standalone' Article content is a non-GAAP measure and represents the results of Dream, excluding the impact of Dream Impact Trust's consolidated results and IFRS Accounting Standards adjustments to reflect Dream's direct ownership of our partnerships. Direct ownership refers to Dream Unlimited Corp.'s interest in subsidiaries and partnerships and excludes any non-controlling interest in the noted entities based on units held as of the end of the reporting period. The most direct comparable financial measure to Dream standalone is consolidated Dream. This non-GAAP measure is an important measure used by the Company to evaluate earnings against historical periods, including results prior to the acquisition of control of Dream Impact Trust. Article content ' Net asset value ' or ' NAV ' is a non-GAAP financial measure and represents the intrinsic value for the Company excluding the impact of Dream Impact Trust's consolidated results and IFRS Accounting Standards adjustments to reflect Dream's direct ownership of our partnerships. Due to the nature of our holdings, NAV is calculated to reflect various factors including the progression of our developments, fair market value of our land holdings, fair value of our unit holdings in Dream Impact Trust, Dream Office REIT and Dream Residential REIT and asset management businesses. The Company believes that incorporating market value adjustments is a more useful measure to value our business that would not ordinarily be captured under IFRS and the Company's consolidated financial statements which reflect the consolidation of Dream Impact Trust and Dream Impact Fund. In calculating the market value adjustments reflected in NAV, the Company uses certain market assumptions to fair value items held at cost. Article content The closest IFRS measure to NAV is shareholders' equity. The table below provides the reconciliation of NAV to shareholders' equity: Article content In thousands of dollars, except per share and outstanding share amounts As at March 31, 2025 Consolidated Shareholders Equity $ 1,485,031 Less: Dream Impact Trust (i) (395,641) Less: Consolidation and fair value adjustments (i) 205,346 Standalone Book Equity 1,294,736 Standalone Book Equity per unit 30.53 Land inventory market value adjustment (ii) 520,046 Asset management market value adjustment (iii) 552,200 Dream Group unit holdings market value adjustment (iv) (176,565) Total market value adjustment 895,681 Net asset value 2,190,417 Shares issued and outstanding 42,414,563 Net asset value per share $ 51.64 (i) See above for the definition of Dream Impact Trust and consolidation and fair value adjustments, Dream standalone adjustments and Dream standalone, which are non-GAAP financial measures. (ii) 8,700 acres in Alberta & Saskatchewan at an average fair value of $95,000/acre for land held for development and a 1.4x multiple for land under development. (iii) Value of asset management business based on 16x multiple on net margin. (iv) Units adjusted to trading price as of March 31, 2025 ($17.79 for Dream Office REIT, $3.00 for Dream Impact Trust and $12.65 for Dream Residential REIT). Article content ' Net asset value per share ' or ' NAV per share ' is a non-GAAP ratio. NAV per share is calculated as net asset value divided by the number of Class A subordinate voting shares and Class B common shares of Dream outstanding as of that date. We use this ratio to assess the relative value of our businesses on a per share basis. NAV per share as of March 31, 2025 is calculated above. Article content Article content Article content Article content Article content Contacts Article content Dream Unlimited Corp. Article content Meaghan Peloso Chief Financial Officer (416) 365-6322 mpeloso@ Article content
India.com
30-05-2025
- Entertainment
- India.com
Mother is an actress, daughter owns assets worth Rs 4,600 crore at 24, she is…, her mother is…
In the world of cinema, heirs are always influential, who always remain in the headlines and naturally become famous. But do you know that star kid whose mother is a famous actress? Without any fame, the 24-year-old daughter of that heroine is the owner of property worth crores of rupees. Do you know who she is? Actress Juhi Chawla, known as the 'Queen of Smiles', won over Bollywood in the 90s with her innocence. Juhi, who started her film career in the late 80s, achieved stardom in the 90s, which is no less than an example even today. Her daughter Jhanvi Mehta did not enter films but is the owner of crores at a young age. The IPL 2025 auction became a topic of discussion among cricket fans. Usually, Shah Rukh Khan's children, Suhana Khan and Aryan Khan, participate in this auction on behalf of the Kolkata team management. But this time, a new girl participated, who was Jhanvi Mehta; she is the daughter of Juhi Chawla and businessman Jai Mehta. Jay Mehta's Mehta Group does business all over the world including the US, Canada, Uganda and Kenya. Apart from this, in 1999, actress Juhi Chawla and her husband Jay Mehta along with Shah Rukh Khan started a production company called Dream Unlimited. Today it is known as 'Red Chillies Entertainment'. Most of Shah Rukh Khan's films are made under this production company. Recently released films like 'Jawaan' and 'Dunki' have been made by Red Chillies and have made good collections. Apart from this, Mehta Group is also the major shareholder of Shahrukh Khan's IPL team Kolkata Knight Riders. On this basis, Jhanvi Mehta participated in the IPL auction with her father. Jhanvi, a graduate from Columbia University, is also paying attention to her father and mother's business. Jhanvi, who has not been seen in any media till now, participated in the IPL auction for the first time and after this she is completely focusing on business. Meanwhile, Hurun India released the list of rich people of India in 2024. The name of actress Juhi Chawla was also included in the first 20 places in this list of 335 people. According to the report, the value of Juhi Chawla's property is Rs 4,600 crore. The value of Juhi Chawla's property has increased due to the assets of Mehta Group. On this basis, Jhanvi Mehta has entered the world of business by becoming the heir of property worth Rs 4,600 crore.
National Post
12-05-2025
- Business
- National Post
Dream Unlimited Corp. Reports First Quarter Results
Article content This press release contains forward-looking information that is based upon assumptions and is subject to risks and uncertainties as indicated in the cautionary note contained within this press release. All amounts are in Canadian dollars. Article content Article content TORONTO — Dream Unlimited Corp. (TSX: DRM) ('Dream', 'the Company' or 'we') today announced its financial results for the three months ended March 31, 2025 ('first quarter'). Article content 'For the first time since 1997, Arapahoe Basin's results are not included in our quarter as it was sold this past November,' said Michael Cooper, Chief Responsible Officer. 'All of the ski hill's annual profits were typically achieved in the first quarter, which benefitted our results for 27 years in what is traditionally a period of low earnings other than Arapahoe Basin. Without $10-$15 million of earnings from the ski area, our first quarter results will be relatively quiet even if they are as anticipated. Our results were largely in line with expectations, and we are on track to hit our earnings targets set out for the year. As we think about the Company today, over 80% of value is derived from our asset management division, Western Canada developments and our directly owned income properties. In the first quarter, our asset management business added in excess of $500 million of fee-earning assets with an improved margin over last year. In Western Canada, we now have pre-sales in place for almost all of the land we budgeted to sell for 2025, and our retail and residential rental portfolio are growing and performing as expected. The remaining balance is made up of investments in Dream Office and Dream Impact, a small amount of urban land and three hotels in Toronto. These parts have been negatively impacted by the broader market but are a small component of where we'll see growth and value creation for Dream over the long-term.' Article content Dream has published a supplemental information package on our website concurrent with the release of our first quarter results. Article content In the first quarter, our asset management business generated revenue and net margin of $13.7 million and $6.1 million, compared to $13.0 million and $5.6 million in 2024. The increase was driven by continued AUM growth and the timing of performance and development fees, which will vary in each period as milestones are met. Article content Subsequent to the quarter, Dream Impact Trust entered into an agreement to sell a minority interest in 49 Ontario St. to a new partner and entered into a development agreement with Dream and the partner to manage the 1,200 multi-family unit project. The re-development site is in close proximity to the Distillery District, Canary Landing and a future Ontario line transit stop. A waiver for development charges on the project was obtained in late 2024 and construction financing was secured in the first quarter, which positions the project to start construction by the end of this year. As we advance large scale affordable housing projects such as 49 Ontario St., we are continuing to showcase our ability to execute in a challenging market and will continue to grow our assets under management as they are built-out. Article content In the first quarter, we achieved 62 lot sales and 30 housing occupancies in Western Canada, generating net margin of $6.3 million. As of May 9, 2025, we had $160 million of commitments for land pre-sales, of which $150 million is expected to be recognized in revenue over the course of 2025. Most of our land revenue for the year is expected to be from our Alpine Park (Calgary) and Holmwood (Saskatoon) master-planned communities. Article content Our stabilized income properties generated revenue and net operating income of $11.8 million and $6.4 million in 2025, compared to $10.3 million and $4.5 million in the prior period (on a standalone basis). The increase in revenue was driven by higher rent on our multi-family rental portfolio from ongoing lease-up activity and rental turnover. Furthermore, the increase in net operating income was driven by higher operating costs on our Western Canada rental properties in 2024, which have started to normalize as stabilization is achieved. Article content Across our various developments in Western Canada and Ottawa, we currently have just over 1,000 multi-family rental units (at Dream's share) under construction. These assets will further support the growth of our income property division as they are completed over the next three years. In addition to our multi-family pipeline, we most recently broke ground on 60,000 sf of retail space at Alpine Park. This is a first for the Alpine Park community with 80% in committed leasing as of May 9, 2025. For a detailed list of our build-to-hold projects under construction, refer to the Recurring Income section of our the management's discussion and analysis of Dream for the three months ended March 31, 2025, dated May 12, 2025 (the 'MD&A for the first quarter of 2025') for pipeline details. Article content Other items: Article content Our Corporate and other segment generated $19.4 million in revenue and $5.5 million of negative margin in the first quarter (on a standalone basis), compared to $60.4 million in revenue and $7.9 million of margin in the prior period. Fluctuations in revenue and net loss were largely driven by prior year results from Arapahoe Basin and occupancies at Ivy Condos with no comparable activity in the current period. We do not anticipate significant development income from the GTA or National Capital Region to be generated in 2025. Article content At the end of 2024, Dream acquired our partner's interest in a boutique hotel portfolio, comprised of the Broadview Hotel, Gladstone Hotel and Postmark Hotel, as well as certain retail and condo assets at minimal cost. Accordingly, we have taken over operations of the hotels, including the opening of the Postmark Hotel in August 2024. The first quarter marks the first full period of operations in which we own 100%, the results of which tend to be very seasonal. Strategically, the retail assets acquired are considered non-core to our portfolio and we expect to dispose of them over time. In addition, we also own 100% of the Broadview and Eastern site, directly north of East Harbour Transit Hub and two other small land sites. Article content Losses before income taxes for the first quarter were $10.9 million, a decrease from earnings before taxes of $12.1 million in the comparative period. Comparative period earnings included results from Arapahoe Basin, which was sold in November 2024. The remainder of the decrease in earnings was attributable to fair value adjustments on the liability for Dream Impact Trust units, which are driven by fluctuations in the Dream Impact Trust's unit price. Article content As of March 31, 2025, we had available liquidity (1) of $346.3 million and $380 million of contractual debt maturities expected in 2025. Of this amount, $92.5 million of construction debt was repaid subsequent to quarter end and replaced with take-out financing, and a further $250 million is in advanced lender discussions or expected to renew in normal course. Our strong liquidity and debt profile allows us to be well positioned in this economic climate and provides us with flexibility to pursue new investments as they arise. Article content Senior management will host its annual meeting of shareholders on Tuesday, June 3, 2025 at 2:00 PM (ET) at the TMX Market Centre, 120 Adelaide Street West, Toronto, Ontario M5H 1S3. In light of the upcoming meeting, management will not be hosting a conference call for the first quarter. To access the annual meeting of shareholders via webcast, please go to Dream's website at and click on the link for News, then click on Events. A taped replay of the annual meeting of shareholders and the webcast will be available for ninety (90) days following the meeting. We look forward to providing a business update on June 3rd. Article content Other Information Article content Dream has an established and successful asset management business, inclusive of $28 billion of assets under management* as at March 31, 2025 across four Toronto Stock Exchange ('TSX') listed trusts, our private asset management business and numerous partnerships. We are a leading developer of exceptional real estate assets across Canada and Europe, including income properties that will be held for the long term as they are completed. We also develop land for sale in Western Canada. Dream has a proven track record for being innovative and for our ability to source, structure and execute on compelling investment opportunities. A comprehensive overview of our holdings is included in the 'Summary of Dream's Assets and Holdings' section of our MD&A for the first quarter of 2025. Article content In addition to using financial measures determined in accordance with International Financial Reporting Accounting Standards as issued by the International Accounting Standards Board ('IFRS Accounting Standards'), we believe that important measures of operating performance include certain financial measures that are not defined under IFRS Accounting Standards. Throughout this press release, there are references to certain non-GAAP financial measures and ratios and supplementary financial measures, including Dream Impact Trust and consolidation and fair value adjustments, available liquidity, net operating income, standalone figures by division, fee earning assets under management and portfolio of stabilized properties, which management believes are relevant in assessing the economics of the business of Dream. These performance and other measures are not financial measures under IFRS Accounting Standards, and may not be comparable to similar measures disclosed by other issuers. However, we believe that they are informative and provide further insight as supplementary measures of financial performance, financial position or cash flow, or our objectives and policies, as applicable. Certain additional disclosures such as the composition, usefulness and changes, as applicable, of the non-GAAP financial measures and ratios included in this press release have been incorporated by reference from the 'MD&A for the first quarter of 2025' and can be found under the section 'Non-GAAP Ratios and Financial Measures', subheadings 'Net operating income' and 'Dream Impact Trust and consolidation and fair value adjustments'. The composition of supplementary financial measures included in this press release has been incorporated by reference from the MD&A for the first quarter of 2025 and can be found under the section 'Supplementary and Other Financial Measures'. The MD&A for the first quarter of 2025 is available on SEDAR+ at under Dream's profile and on Dream's website at under the Investors section. Article content ' Dream Impact Trust and consolidation and fair value adjustments ' represent certain IFRS Accounting Standards adjustments required to reconcile Dream standalone and Dream Impact Trust results to the consolidated results as at March 31, 2025 and December 31, 2024 and for the three months ended March 31, 2025 and December 31, 2024. Management believes Dream Impact Trust and consolidation and fair value adjustments provides investors useful information in order to reconcile it to the Dream Impact Trust financial statements. Article content Consolidation and fair value adjustments relate to business combination adjustments on acquisition of Dream Impact Trust on January 1, 2018 and related amortization, elimination of intercompany balances including the investment in Dream Impact Trust units, adjustments for co-owned projects, fair value adjustments to the Dream Impact Trust units held by other unitholders, and deferred income taxes. Article content ' Net operating income ' is a non-GAAP measure and represents revenue, less (i) direct operating costs and (ii) selling, marketing, depreciation and other indirect costs, but including: (iii) depreciation; and (iv) general and administrative expenses. The most directly comparable financial measure to net operating revenue is net margin. This non-GAAP measure is an important measure used by management to assess the profitability of the Company's recurring income segment. Net operating income for the recurring income segment for the three months ended March 31, 2025 and 2024 is calculated and reconciled to net margin as follows: Article content 'Standalone Figures by Division' is a non-GAAP measure and represents the results of Dream, excluding the impact of Dream Impact Trust's consolidated results and IFRS Accounting Standards adjustments to reflect Dream's direct ownership of our partnerships. Direct ownership refers to Dream Unlimited Corp.'s interest in subsidiaries and partnerships and excludes any non-controlling interest in the noted entities based on units held as of the end of the reporting period. The most direct comparable financial measure to Dream standalone is consolidated Dream. This non-GAAP measure is an important measure used by the Company to evaluate earnings against historical periods, including results prior to the acquisition of control of Dream Impact Trust. Article content For the three months ended March 31, 2025 Asset Management Stabilized Income Properties (i) Western Canada Development Corporate and other Total Standalone Add: Dream Impact Trust and IFRS adjustments Consolidated Dream Revenue $ 13,747 $ 11,802 $ 24,970 $ 19,372 $ 69,891 $ (1,468) $ 68,423 Direct operating costs (7,684) (5,380) (18,717) (21,376) (53,157) 3,022 (50,135) Gross margin 6,063 6,422 6,253 (2,004) 16,734 1,554 18,288 Selling, marketing, depreciation and other operating costs — (460) (5,509) (3,456) (9,425) 333 (9,092) Net margin 6,063 5,962 744 (5,460) 7,309 1,887 9,196 Fair value changes in investment properties — 434 1,790 — 2,224 (4,223) (1,999) Investment income and other expenses (274) 637 496 (90) 769 231 1,000 Interest expense (5) (4,813) (535) (5,359) (10,712) (7,591) (18,303) Share of earnings (loss) from equity accounted investments (916) — — (9,791) (10,707) 5,101 (5,606) Net segment earnings (loss) 4,868 2,220 2,495 (20,700) (11,117) (4,595) (15,712) General and administrative expenses — — — (6,466) (6,466) (760) (7,226) Adjustments related to Dream Impact units — — — — — 9,108 9,108 Adjustments related to Dream Office REIT units — — — — — 2,882 2,882 Income tax (expense) recovery — — — 2,808 2,808 55 2,863 Net earnings (loss) $ 4,868 $ 2,220 $ 2,495 $ (24,358) $ (14,775) $ 6,690 $ (8,085) Article content For the three months ended March 31, 2024 Asset Management Stabilized Income Properties (i) Western Canada Development Corporate and other Total Standalone Add: Dream Impact Trust and IFRS adjustments Consolidated Dream Revenue $ 12,988 $ 10,340 $ 11,271 $ 60,403 $ 95,002 $ 63,249 $ 158,251 Direct operating costs (7,420) (5,830) (8,198) (44,463) (65,911) (60,631) (126,542) Gross margin 5,568 4,510 3,073 15,940 29,091 2,618 31,709 Selling, marketing, depreciation and other operating costs — (615) (4,810) (8,029) (13,454) 909 (12,545) Net margin 5,568 3,895 (1,737) 7,911 15,637 3,527 19,164 Fair value changes in investment properties — (1,356) 5,151 96 3,891 (1,345) 2,546 Investment income and other expenses (279) 248 459 986 1,414 (525) 889 Interest expense (4) (3,256) (1,109) (4,540) (8,909) (8,155) (17,064) Share of earnings (loss) from equity accounted investments (2,007) — — 1,384 (623) (2,582) (3,205) Net segment earnings (loss) 3,278 (469) 2,764 5,837 11,410 (9,080) 2,330 General and administrative expenses — — — (5,973) (5,973) (408) (6,381) Adjustments related to Dream Impact units — — — — — 17,316 17,316 Adjustments related to Dream Office REIT units — — — — — (1,168) (1,168) Income tax (expense) recovery — — — (4,871) 2,308 (2,563) Net earnings (loss) $ 3,278 $ (469) $ 2,764 $ (5,007) $ 566 $ 8,968 $ 9,534 Article content Forward-Looking Information Article content This press release may contain forward-looking information within the meaning of applicable securities legislation, including, but not limited to, statements regarding our objectives and strategies to achieve those objectives; our beliefs, plans, estimates, projections and intentions, and similar statements concerning anticipated future events, future growth, expected net proceeds from sales or transactions, results of operations, performance, business prospects and opportunities, acquisitions or divestitures, tenant base, future maintenance and development plans and costs, capital investments, financing, the availability of financing sources, income taxes, vacancy and leasing assumptions, litigation and the real estate industry in general; as well as specific statements in respect of our expectations regarding our ability to pursue opportunities to grow; our expectations regarding the performance of Western Canada division; expectations regarding 49 Ontario St., including timelines and the Dream Impact Trust's ability to consummate the sale of a minority interest; our expectations regarding development income from the GTA or National Capital Region; our ability to maintain strong liquidity and our expectation that we will be well positioned for new investments as they arise; our ability to achieve leasing and construction targets; our expectations regarding our asset management division, including expected growth; our development plans, including sizes, uses, density, number of units, amenities and timing thereof; our expectation that we will add 1,434 apartment units comprising 1.0 million square feet of residential GFA to our recurring income portfolio over the next three years; expectations regarding our non-core retail assets, including disposition plans; expectations regarding the sale of assets and land; our ability to consummate land commitments, and use of proceeds and timing thereof and the impacts of any sales on interest in our communities; our ability to renew indebtedness in the normal course and the ability for our liquidity and debt profile to provide us flexibility to pursue new investments as they arise; our occupancy targets; and our expectations about our liquidity in future periods. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Dream's control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These assumptions include, but are not limited to: the nature of development lands held and the development potential of such lands, interest rates and inflation remaining in line with management expectations, our ability to bring new developments to market, anticipated positive general economic and business conditions, including low unemployment and interest rates, that duties, tariffs and other trade restrictions, if any, will not materially impact our business, positive net migration, oil and gas commodity prices, our business strategy, including geographic focus, anticipated sales volumes, performance of our underlying business segments and conditions in the Western Canada land and housing markets. Risks and uncertainties include, but are not limited to, general and local economic and business conditions, the impact of public health crises and epidemics, employment levels, risks associated with unexpected or ongoing geopolitical events, including disputes between nations, terrorism or other acts of violence, international sanctions and the disruption of movement of goods and services across jurisdictions, inflation or stagflation, regulatory risks, mortgage and interest rates and regulations, risks related to a potential economic slowdown in certain of the jurisdictions in which we operate and the effect inflation and any such economic slowdown may have on market conditions and lease rates, risks related to the imposition of duties, tariffs and other trade restrictions and their impacts, environmental risks, consumer confidence, seasonality, adverse weather conditions, reliance on key clients and personnel and competition. All forward-looking information in this press release speaks as of May 12, 2025. Dream does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required by law. Additional information about these assumptions and risks and uncertainties is disclosed in filings with securities regulators filed on SEDAR+ ( Article content Article content Article content Article content Article content Contacts Article content Dream Unlimited Corp. Meaghan Peloso Chief Financial Officer (416) 365-6322 mpeloso@ Article content Article content Article content
Yahoo
27-02-2025
- Business
- Yahoo
Dream Unlimited Full Year 2024 Earnings: Revenues Beat Expectations, EPS Lags
Revenue: CA$624.5m (up 61% from FY 2023). Net income: CA$187.9m (up from CA$117.1m loss in FY 2023). Profit margin: 30% (up from net loss in FY 2023). EPS: CA$4.46 (up from CA$2.74 loss in FY 2023). All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue exceeded analyst estimates by 4.3%. Earnings per share (EPS) missed analyst estimates by 3.2%. The primary driver behind last 12 months revenue was the Development segment contributing a total revenue of CA$403.3m (65% of total revenue). Notably, cost of sales worth CA$422.8m amounted to 68% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Sales & Marketing costs, amounting to CA$43.4m (65% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of CA$52.6m. Explore how DRM's revenue and expenses shape its earnings. Looking ahead, revenue is expected to decline by 27% p.a. on average during the next 2 years, while revenues in the Real Estate industry in Canada are expected to grow by 6.3%. Performance of the Canadian Real Estate industry. The company's share price is broadly unchanged from a week ago. You should learn about the 4 warning signs we've spotted with Dream Unlimited (including 2 which are significant). Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
