Misto Holdings (081660) Q1 2026 earnings summary

Executive summary

• Consolidated revenue for Q1 2026 reached KRW 1,289bn, up 4.2% year-over-year, with operating profit up 19.0% to KRW 194bn.

• Misto segment revenue declined 13.9% YoY, but operating profit surged 874.8% due to North America restructuring and strong Korea performance.

• Acushnet segment saw revenue and operating profit growth, driven by higher sales volumes and new product launches.

• Shareholder return policy includes significant dividends and buybacks, with 61.1% of the 3-year target already achieved.

• Value-up plan targets 15%+ sales growth and ROE of 12–13% by FY2028, focusing on brand expansion and global leadership.

Financial highlights

• Gross profit increased 5.5% YoY to KRW 682bn, with gross margin improving by 0.7 percentage points to 52.9%.

• EBITDA for Q1 2026 was KRW 242bn, up from KRW 206bn a year earlier.

• Net profit attributable to owners was KRW 89bn, with EPS of KRW 1,684.

• ROE improved to 11.6% from 11.4% at year-end 2025.

Outlook and guidance

• FY2026 consolidated revenue expected to grow 0–5% YoY; Misto revenue (ex-Acushnet) projected at -5% to 0% YoY.

• Consolidated operating profit guidance is +5% to +15% YoY; Misto OP (ex-Acushnet) +10% to +20% YoY.

• Acushnet expects sales growth of 2.5–4.5% YoY (constant currency) and adjusted EBITDA growth of 1.1–6.0%.