Misto Holdings, the parent company of Fila and Acushnet, delivered solid second-quarter results as US restructuring efforts improved margins and net income jumped 54%.
Fila and Acushnet parent Misto’s net income jumped 54 percent in the second quarter to 85,822 million South Korean won (€58.4m) from KRW 56,001 million, as consolidated revenues grew by 5 percent to KRW 1,227,714 million (€835.8m) from KRW 1,175,289 million, a 2 percent constant currency increase. As usual, Acushnet accounted for the vast majority of sales, totaling KRW 1,011 billion (€687.5m) in Q2 for the golf business. The strengthening won rebounding against the dollar was also a factor.
Misto revenues from the Fila brand, licensing, and the Chinese joint venture with Anta Sports totaled KRW 216,305 million (€147.1m), a 9 percent decline from last year’s KRW 237,517 million. The decline was due to winding down US operations, and adjusted revenue excluding the US increased 16 percent, driven by China and a solid domestic performance. Operating income for the segment was KRW 34,142 million (€23.2m) against a loss of KRW 2,705 million last year, helped by cost reduction efforts in North America.
Maintaining its guidance for the full year, Misto Holdings is expecting flat to +5 percent revenue growth for 2025, with Misto flat to down 10 percent and Acushnet up low single digits. Consolidated operating profit is expected to grow between 25 percent and 35 percent, and Misto should swing to a KRW 50 to 60 billion (€34–40m) operating profit from a loss last year. Acushnet is guiding for a 2.0 percent increase in adjusted Ebitda.
