Puuilo (PUUILO) Q2 2025 & Strategy Update earnings summary

Executive summary

• Net sales for H1 2025 rose 15.2% year-over-year to €225.0 million, with like-for-like sales up 3.4%.

• Q2 2025 net sales reached €135.8 million, up 13.2% year-over-year, with like-for-like growth of 1.3%.

• Five new stores opened in H1, bringing the total to 54, with further expansion planned.

• Growth was driven by increased customer traffic, up 16.1% in H1, and strong private label sales.

• Updated strategy targets over 100 stores and net sales above €800 million by 2030, with international expansion into Sweden.

Financial highlights

• Q2 gross margin improved to 38.2%, with H1 at 37.7%, driven by private label growth.

• Adjusted EBITDA/EBITA for Q2 was €28.2 million (20.8% margin), and €39.0 million (17.3% margin) in H1.

• Earnings per share were €0.25 in Q2 and €0.33 in H1.

• Operating free cash flow was €38.1 million in Q2 and €51.8 million in H1.

• Net income reached €20.7 million in Q2 and €28.0 million in H1.

Outlook and guidance

• Full-year 2025 net sales forecasted at €425–455 million; adjusted EBITDA/EBITA expected at €70–80 million.

• Strategy period 2026–2030 targets >10% annual sales growth, >100 stores, and international expansion to Sweden.

• Long-term targets: adjusted EBITDA/EBITA margin over 17%, net debt/EBITDA below 2.5x.

• Outlook subject to economic uncertainty, consumer behavior changes, and geopolitical risks.

• Store openings planned at 7–10 per year, with two more announced for next year.