Silvano Fashion Group (SFG1T) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue was €11.8m, down 1.7% year-over-year, with gross profit up 13.9% to €6.7m and gross margin rising to 56.3% from 48.6%.

• Operating profit increased 20.6% to €1.7m, EBITDA rose 16.9% to €2.53m, but net profit dropped 64.8% to €1.05m due to negative currency effects.

• Retail revenue grew 14.5% while wholesale declined 13.6%; Russia and Belarus accounted for 85.4% of total sales.

• Net profit attributable to equity holders was €0.91m, EPS at €0.03, down from €0.08 in Q1 2025.

Financial highlights

• Gross margin improved to 56.3% (Q1 2025: 48.6%), operating margin to 14.3% (Q1 2025: 11.7%), and EBITDA margin to 21.4% (Q1 2025: 18.0%).

• Net profit margin fell to 8.9% from 24.7% year-over-year.

• ROA and ROE declined to 7.9% and 9.8% respectively.

• Cash and cash equivalents increased 16.5% to €7.7m; total assets rose 1.1% to €94.9m.

Outlook and guidance

• Focus remains on improving retail profitability in Russia and expanding store presence where feasible.

• No sales in Ukraine are expected in the near term.