Stella International (1836) Q2 2026 earnings summary

Executive summary

• Consolidated revenue for Q2 2026 rose 1.2% year-over-year to US$449.3 million.

• Revenue for the first half of 2026 increased 1.5% year-over-year to US$786.7 million.

• The group is executing a Three-Year Plan (2026-2028) focused on expanding production capacity with three new factories in Indonesia, Bangladesh, and Vietnam, expected to commence operations in H2 2026.

Financial highlights

• Footwear manufacturing revenue for Q2 2026 grew 1.4% year-over-year to US$439.2 million.

• Six-month footwear manufacturing revenue increased 1.7% year-over-year to US$766.6 million.

• Shipment volume for Q2 2026 was 15.6 million pairs, up 1.3% year-over-year; six-month volume was flat at 27.5 million pairs.

• Average selling price (ASP) for Q2 2026 remained flat at US$28.2 per pair; six-month ASP rose 1.8% to US$27.9 per pair.

Outlook and guidance

• 2026 is positioned as an investment year, with profit growth from new strategies expected to materialize later in the 2026-2028 period.

• New factories are anticipated to add approximately 20 million pairs of production capacity in the coming years.