Misto Holdings turned a 16.6 percent rise in revenue into a 62.3 percent jump in operating profit over the second quarter, lifting group operating margin to 20.6 percent from 14.8 percent a year earlier. Golf equipment did most of that work. A one-time tariff refund, which the company has not put a number on, did the rest.
The Seoul-based holding company, parent of FILA and Acushnet, published its second-quarter figures on Aug. 14. Revenue came in at about KRW 1.4 trillion (€874m), 16.6 percent ahead of the same period last year. Operating profit reached KRW 295.2 billion (€180m), close to four times the pace of sales growth.
| Misto Holdings Corp. consolidated and segment results | |||
| Q2, ended June 30 (€ millions) | |||
| 2026 | 2025 | Change | |
| Revenue | 874 | 750 | 16.6% |
| Operating profit | 180 | 111 | 62.3% |
| Operating margin | 20.6% | 14.8% | 5.8pp |
| Net income | – | – | – |
| Misto segment revenue | 122 | 132 | -7.4% |
| Misto segment operating profit | 22 | 21 | 6.6% |
| Acushnet segment revenue | 751 | 617 | 21.7% |
| Acushnet segment operating profit | 158 | 90 | 75.2% |
Source: Misto Holdings Corp. second-quarter 2026 results announcement, Aug. 14, 2026. Converted from KRW at €1 = KRW 1,638, Aug. 17, 2026. Prior-year comparatives derived from company-reported growth rates. Net income not disclosed in the announcement. All figures in € millions unless stated.
Golf equipment delivers 88% of group operating profit
Acushnet booked quarterly revenue of KRW 1,230.8 billion (€751m) and operating profit of KRW 258.8 billion (€158m), up 21.7 percent and 75.2 percent respectively. Those two figures represent 86 percent of group revenue and 88 percent of group operating profit. Acushnet’s own operating margin widened to 21.0 percent from 14.6 percent.
The company credited Titleist ball, club and gear sales, new driver and fairway wood launches timed ahead of the peak golf season, and firmer average selling prices. It also credited a tariff refund, without saying how much of the gain that refund represents.
The two are not equivalent. Product sales at higher prices carry into the next quarter, a refund does not, and until the amount is disclosed there is no way to read Acushnet’s true underlying margin from the announcement. The tariff story also comes full circle here. SGIE reported in May that first-quarter net income slipped 3.5 percent, in part because of higher US tariff costs. The money is now flowing back within the same fiscal year.
FILA’s Korean recovery runs against a shrinking US base
Misto segment revenue of KRW 200.4 billion (€122m) fell 7.4 percent as reported. Strip out the US business, which the group is in the middle of restructuring, and revenue rose 4.0 percent instead. That is a shade ahead of the 3.8 percent ex-US growth booked in the first quarter, so the trend is holding.
Segment operating profit rose 6.6 percent to KRW 36.4 billion (€22m) and margin reached 18.2 percent, up from 15.8 percent. The group credited profitability in Korea, growth in Greater China and cost measures across the business.
On product, it pointed to the GLIO footwear range launched for spring/summer and to MY T-SHIRT in apparel, where it reported search volume up roughly fivefold and sales up 20 percent year-over-year. FILA also added stores in Malaysian commercial districts, including what it calls Southeast Asia’s first FILA 1911 store.
China build extends beyond FILA
Greater China remains the Misto segment’s biggest regional contributor, and the group is steadily widening the brand set it sells there. It has begun a full rollout of JUUN.J, a designer label from Samsung C&T Fashion Division, opening at Chengdu Taikoo Li in July and Beijing Sanlitun in August, with more launches lined up for the spring/summer 2027 season.
There is a defensive logic to it. A single-brand position in China leaves the segment riding FILA’s own cycle, and the Korean fashion and designer labels give the group more than one way into the same malls and the same shopper. Ho Yeon (Aaron) Lee, Chief Financial Officer, said the second half would concentrate on FILA’s product competitiveness in Korea, portfolio expansion in Greater China and operational efficiency.
