Forus (FORUS) Q1 2025 earnings summary

Executive summary

• Achieved a new consolidated sales record in 1Q25, with double-digit growth across key channels and geographies.

• Secured exclusive representation of PARFOIS for Chile and Peru, opening the first store in Lima and launching Parfois.pe, with Chile launch planned soon.

• Leadership transition with a new CEO and organizational restructuring, including the appointment of a new deputy general manager and former CEO becoming Chairman.

• Expanded brand portfolio by officially welcoming Parfois and launching e-commerce.

• Reported consolidated revenues of Ch$94,513 million in 1Q25, up 13.3% YoY; EBITDA rose 18.5% YoY to Ch$14,997 million.

Financial highlights

• Consolidated sales reached CLP 94,513 million in 1Q25, up 13.3% year-over-year.

• EBITDA rose 18.5% to CLP 14,997 million; EBIT increased 20.7% to CLP 7,836 million compared to 1Q24.

• Gross margin slightly declined by 97 basis points to 52.1%.

• Net income decreased 6.3% year-over-year to CLP 4,990 million, impacted by non-operating FX losses.

• Digital revenues decreased 8.5% YoY, representing 19% of DTC sales and 14% of consolidated revenue.

Outlook and guidance

• Continued expansion planned with new Parfois stores and e-commerce launches in Chile.

• Construction of a new distribution center remains on track, with scalable capacity.

• Dividend policy for 2025: distribute 40% of net profits, subject to company and economic conditions.

• ICR reaffirmed AA/Stable solvency rating, citing financial strength and brand portfolio.