Rapala VMC (RAP1V) Q2 2026 earnings summary

Executive summary

• Net sales for H1 2026 reached EUR 134.8 million, up 11% in comparable currencies, led by strong North American growth offsetting weaker European performance.

• Comparable operating profit rose to EUR 13.5 million from EUR 8.6 million, with net profit increasing to EUR 8.5 million.

• Cash flow from operations improved to EUR 16.7 million from EUR 6.2 million, reflecting operational efficiencies and inventory management.

• Innovation pipeline and brand investments are expected to support long-term growth, despite ongoing tariff and macroeconomic uncertainties.

Financial highlights

• H1 2026 sales were EUR 134.8 million, up 11% in comparable currencies and 7% reported, driven by 19% North American growth.

• Comparable operating profit for H1 was EUR 13.5 million (10% margin), a 57% increase year-over-year.

• Net profit for H1 was EUR 8.5 million, up from EUR 2.2 million; EPS at EUR 0.19.

• Cash flow from operations reached EUR 16.7 million, up from EUR 6.2 million.

• Inventory at period end was EUR 80.1 million, down from EUR 82.2 million.

Outlook and guidance

• Full-year 2026 comparable operating profit is expected in the range of EUR 12–14 million, up from EUR 8.4 million in 2025.

• Guidance reflects robust North American demand and innovation pipeline, but remains subject to trade-related disruptions and tariff changes.

• Key uncertainties include U.S. tariffs and limited visibility for the remainder of the year.