Misto Holdings (081660) Q3 2025 earnings summary

Executive summary

• Consolidated revenue for Q3 2025 reached KRW 1,088.2 billion, up 3.7% year-over-year, with operating profit up 41.2% to KRW 131.9 billion.

• Misto segment revenue declined 12.0% year-over-year, while Acushnet segment revenue grew 7.5% year-over-year.

• Brand portfolio expansion and operational efficiency, including cost reductions and marketing spend management, contributed to improved profitability.

Financial highlights

• Gross profit for Q3 2025 was KRW 583.5 billion, up 2.9% year-over-year, with a gross margin of 53.6%.

• Consolidated operating profit margin improved to 12.1% from 8.9% in the prior year.

• Net profit attributable to owners was KRW 63.2 billion, with EPS of KRW 1,167.

• Acushnet operating profit rose 12.5% year-over-year, driven by strong sales in golf equipment and gear.

• Benefited from favorable foreign exchange rates (USD/KRW +1.9% YoY).

Outlook and guidance

• FY2025 consolidated revenue expected to grow 0% to 5% year-over-year.

• Misto (ex-Acushnet) revenue guidance: -10% to 0% year-over-year; operating profit expected to turn positive (KRW 50–60 billion).

• Acushnet FY2025 sales projected at $2,520M–$2,540M (+2.6%–3.4% YoY), with adjusted EBITDA of $405M–$415M.