Misto Holdings (081660) Q4 2024 earnings summary

Executive summary

• Announced rebranding to Misto Holdings Corp. to unify multi-brand operations and reflect global brand portfolio strategy.

• Operates as a global holding company managing subsidiaries in apparel, footwear, and sports equipment, focusing on brand licensing and direct sales in key markets.

• Underwent significant restructuring, including transition to a holding company and establishment of FILA Korea as a key subsidiary.

• Strong demand for premium golf equipment and successful launches in footwear and apparel franchises.

• Continued expansion in Greater China and Southeast Asia, with new store openings and digital initiatives.

Financial highlights

• Q4 2024 consolidated revenue KRW 861bn, up 13.2% year-over-year; FY2024 revenue KRW 4,269bn, up 6.5%.

• Q4 2024 gross profit KRW 432bn, up 11.1% year-over-year; FY2024 gross profit KRW 2,238bn, up 13.6%.

• Q4 2024 operating loss KRW 36bn, narrowed from prior year; FY2024 operating profit KRW 361bn, up 18.9%.

• Net income attributable to owners: FY2024 KRW 84bn, up from KRW 43bn in FY2023.

• FILA Korea Q4 2024 revenue up 5.9% year-over-year; operating profit up 271.4%.

Outlook and guidance

• FY2025 consolidated revenue expected flat to +5% YoY, driven by Acushnet and Misto growth outside North America.

• Consolidated operating profit projected to grow double digits, with Misto North America expected to return to profit.

• Acushnet FY2025 revenue guidance: +2.2% at mid-point; adj. EBITDA +2.0% at mid-point.