Puuilo (PUUILO) Q1 2026 earnings summary

Executive summary

• Revenue grew 16.3% year-over-year to €103.8 million in Q1 2026, driven by increased customer numbers and new store openings; comparable store sales up 7.7%.

• Adjusted EBITA rose 50.2% to €16.3 million, with margin improving to 15.7% from 12.1% year-over-year.

• Net income rose to €11.3 million, with EPS at €0.13, up from €0.09.

• Two new stores opened in Q1 2026; preparations for entry into Sweden are progressing as planned, with a target of at least eight new stores for the full year.

Financial highlights

• Comparable store sales increased 7.7% year-over-year; online sales grew 17.6%, maintaining a 2.3% share of total revenue.

• Gross profit margin improved to 39.0% from 37.1% year-over-year, supported by a 28% increase in private label sales.

• Operating free cash flow reached €17.1 million, up from €13.6 million a year earlier.

• Operating profit reached €15.7 million (15.1% margin), up from €10.4 million (11.7%).

• Store count at period end was 58, up from 52 a year earlier.

Outlook and guidance

• Full-year 2026 revenue is forecast at €480–510 million, with adjusted EBITA expected at €80–90 million.

• Long-term targets: average annual revenue growth over 10%, revenue above €800 million by 2030, adjusted EBITA margin above 17%, and payout ratio of at least 80% of net profit.

• Uncertainties remain due to changes in consumer purchasing power, inflation, and geopolitical risks affecting product availability and pricing.