Puuilo (PUUILO) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 grew 18.4% year-over-year to €89.3 million, with like-for-like sales up 6.5% and online sales up 19.6%.

• Adjusted EBITA increased 31.2% to €10.8 million, with a margin of 12.1%, and gross margin improved to 37.1%.

• Net income reached €7.3 million, with EPS at €0.09, and operating free cash flow surged to €13.6 million.

• Customer traffic increased 18.4% overall and 6.9% like-for-like, with all main product groups and private label sales growing 37.7%.

• Three new stores opened in Q1, bringing the total to 52, with at least seven new stores planned for the year.

Financial highlights

• Net sales: €89.3 million (+18.4% year-over-year); like-for-like sales: +6.5%; online sales: +19.6%.

• Gross profit: €33.1 million (gross margin 37.1%, up 0.5pp year-over-year).

• Adjusted EBITA: €10.8 million (+31.2%), margin 12.1%; EBIT: €10.4 million (11.7% margin).

• Earnings per share: €0.09 (up from €0.06); net income: €7.3 million (up from €5.0 million).

• Operating free cash flow: €13.6 million (up from €2.3 million); inventories: €125.3 million.

Outlook and guidance

• FY2025 guidance: net sales €425–455 million; adjusted EBITA €70–80 million.

• Long-term targets: net sales above €600 million by FY2028, adjusted EBITA margin above 17%, and net debt/adjusted EBITDA below 2x.

• Guidance subject to uncertainties in consumer purchasing power, behavior, and geopolitical risks.