Apranga (APG1L) Q1 2025 earnings summary

Executive summary

• Q1 2025 retail turnover (incl. VAT) reached €73.8M, up 2.2% year-over-year, with growth in Lithuania and Latvia but a decline in Estonia.

• Online turnover rose 1.7% year-over-year, now 13.8% of total turnover, but its share slightly decreased.

• Net sales grew 2.7% to €62.8M; gross profit margin declined to 40.4% from 41.6% due to increased promotions and weak spring sales.

• Profit before tax dropped to €0.4M from €1.3M year-over-year; net profit fell to €0.26M from €1.05M.

Financial highlights

• EBITDA decreased 8% to €5.9M; EBITDA margin fell to 9.4% from 10.5%.

• Operating expenses rose 3.2% to €24.6M, outpacing sales growth.

• Inventory levels decreased 0.7% to €52.7M.

• Share price increased 4% in Q1 2025, market capitalization rose to €168M.

Outlook and guidance

• Board proposed a €0.24 per share dividend, pending approval at the April 30, 2025, AGM.