Misto Holdings (081660) Q2 2025 earnings summary

Executive summary

• Consolidated revenue in Q2 2025 reached KRW 1,227.7bn, up 4.5% year-over-year, with operating profit up 29.8% to KRW 181.9bn.

• Operates as a global holding company with two main segments: Misto (fashion/lifestyle brands, including FILA) and Acushnet (golf brands such as Titleist, FootJoy).

• Misto segment returned to profitability, driven by cost reductions in North America and business diversification in China.

• Acushnet segment saw continued growth, supported by strong demand for golf products and favorable FX rates.

• Recent rebranding to Misto Holdings and ongoing expansion of global brand portfolio.

Financial highlights

• Gross profit for Q2 2025 was KRW 675.5bn, up 8.4% year-over-year, with gross margin improving by 2.0 percentage points to 55.0%.

• Consolidated H1 2025 revenue: KRW 2,465.2 billion, up 4.6% year-over-year.

• Operating income: KRW 344.6 billion, up 13.5% year-over-year.

• Net profit attributable to owners was KRW 85.8bn in Q2 2025, with EPS of KRW 1,485.

• Basic EPS: KRW 2,937 (H1 2025) vs. KRW 2,135 (H1 2024).

Outlook and guidance

• FY2025 consolidated revenue expected to grow 0–5% year-over-year; Misto (ex-Acushnet) revenue projected to be flat to down 10%.

• Consolidated operating profit forecasted to increase 25–35% year-over-year, with Misto (ex-Acushnet) expected to turn profitable.

• Acushnet anticipates low single-digit sales growth in 2H FY2025.

• New shareholder return policy targets up to KRW 500 billion over 2025–2027, including special dividends and share buybacks.

• Misto segment guidance: revenue -10% to 0%, operating income KRW 50–60 billion.