TWC Enterprises Limited Announces 2025 Year End Results And Increase In Eligible Dividend

Executive Summary

• TWC Enterprises reported net earnings of $55.6 M for FY 2025, up from $40.6 M in FY 2024, driven by the Deer Creek acquisition.
• Basic and diluted EPS increased to $2.29 per share (FY 2025) from $1.66 (FY 2024).
• The board declared an eligible cash dividend of C$0.10 per common share (11% increase), payable March 31, 2026.

Key Details

• Net earnings: FY 2025 – $55,629 K; FY 2024 – $40,597 K.
• EPS (basic & diluted): FY 2025 – $2.29; FY 2024 – $1.66.
• Operating revenue: Decreased 5.8% to $227.525 M in 2025 from $241.560 M in 2024, primarily due to lower real‑estate sales.
• Direct operating expenses: Decreased 13.1% to $171.677 M in 2025 from $197.504 M in 2024.
• Net operating income (Canadian golf club operations): $53.479 M in 2025 vs. $44.305 M in 2024.
• Acquisition: Deer Creek (45‑hole championship complex, Ajax, ON) acquired on Feb 3 2025; contributed to higher golf, corporate events, and food & beverage revenues and related expenses.
• Impairment: Recorded $15 M residential inventory impairment in FY 2025 (none in FY 2024).
• Other items (FY 2025):
• Foreign exchange gain: $779 K
• Impairment on residential inventory: $(15,000) K
• Unrealized gain on marketable securities: $1,051 K
• Business combination transaction costs: $(716) K
• Gain on PPE: $370 K
• Other adjustments net: $188 K
• Interest, net & investment income: Decreased 17.1% to $9.757 M in FY 2025 from $11.767 M in FY 2024 (lower cash balances post‑acquisition).
• Income tax: Shifted to a recovery of $11.057 M in FY 2025 (from a $15.230 M expense in FY 2024) due to revised international tax estimates; no cash impact expected.
• Dividend: Eligible cash dividend of C$0.10 per common share, payable March 31 2026 to shareholders of record March 16 2026 (11% increase over prior quarter).

Notable Quotes

(No direct quotes were provided in the release.)