Stella International (1836) Q1 2026 earnings summary

Executive summary

• Consolidated revenue for Q1 2026 rose 1.9% year-over-year to US$337.4 million.

• Footwear manufacturing revenue increased 2.2% year-over-year to US$327.4 million.

• Shipment volumes declined 1.7% due to fewer working days from earlier Ramadan celebrations.

• Average selling price (ASP) rose 3.8%, driven by a higher-ASP product mix in the Sports segment.

Outlook and guidance

• Three new factories in Indonesia, Bangladesh, and Vietnam are set to commence operations in H2 2026.

• The new facilities will add about 20 million pairs of production capacity over the coming years.

• 2026 is positioned as an investment year, with most profit growth expected later in the 2026-2028 period.

Segment performance

• Footwear manufacturing business revenue grew 2.2% year-over-year to US$327.4 million.

• Shipment volume decreased 1.7% to 11.9 million pairs.

• ASP increased 3.8% to US$27.4 per pair, reflecting a shift to higher-value products.