Misto Holdings (081660) Q4 2025 earnings summary

Executive summary

• Consolidated revenue for Q4 2025 was KRW 915.2bn, up 6.3% year-over-year; full-year revenue reached KRW 4,468.6bn, up 4.7% year-over-year.

• Operating loss for Q4 2025 was KRW 1.6bn, a significant improvement from a KRW 36.0bn loss in Q4 2024; full-year operating profit rose 31.6% to KRW 474.8bn.

• Misto segment turned profitable in Q4 2025, driven by successful North America restructuring and growth in Korea and Greater China.

• Acushnet segment saw revenue growth but operating profit declined due to absence of prior year one-time benefits and increased promotional spending.

Financial highlights

• Gross profit for Q4 2025 was KRW 476.2bn, up 10.3% year-over-year; gross margin improved to 52.0% from 50.1%.

• Full-year gross profit was KRW 2,381.7bn, up 6.4% year-over-year; gross margin for FY25 was 53.3%.

• Net profit attributable to owners for Q4 2025 was a loss of KRW 6.6bn; full-year net profit was KRW 224bn.

• EBITDA for Q4 2025 was KRW 51.1bn; full-year EBITDA was KRW 511.7bn.

Outlook and guidance

• FY2026 consolidated revenue expected to be flat or slightly up, supported by Acushnet's stable performance and Misto's growth in FILA and Greater China.

• Consolidated operating profit projected to improve significantly in FY2026 due to cost structure enhancements.

• Acushnet expects sales growth of 2.5%–4.5% and adjusted EBITDA growth of 1.1%–6.0% in FY2026.