Puuilo reported first-half net sales of €257.0 million, a 14.2% increase from €225.0 million a year earlier, driven by a 6.8% like-for-like sales growth compared with 3.4% in H1 2025.
Adjusted EBITA rose 28.2% to €50.0 million from €39.0 million, lifting the adjusted EBITA margin to 19.5% from 17.3%. Operating expenses were controlled at 15.5% of net sales, down from 16.1%.
Private-label sales surged 23% in the first half and 19% in the second quarter alone. Gross margin expanded 150 basis points year-over-year to 39.2%, with management crediting the improvement to significant private-label growth and a favorable sales mix.
In the second quarter, net sales grew 12.8% to €153.2 million. Like-for-like store sales rose 6.1%, while comparable store traffic increased 5.2% and total store traffic jumped 11.8%. Adjusted EBITA margin reached 22.0%, up from 20.8%, and earnings per share climbed to €0.30 from €0.25.
The store network now totals 59 locations, up from 54 a year earlier, following three new openings and one relocation in the first half. A Swedish pilot store in Örebro is scheduled to open by late 2026, with a second location in Sundsvall planned for early 2027.
Full-year guidance was raised to net sales of €495–515 million from €480–510 million, and adjusted EBITA is now projected at €87–97 million versus the prior range of €80–90 million.
Long-term targets for fiscal 2030 call for a store network exceeding 100 locations, net sales surpassing €800 million with a compound annual growth rate above 10%, and an adjusted EBITA margin over 17%.
The company ended the period with net debt to adjusted EBITDA at 1.1x, below its long-term target of less than 2.5x. Cash and cash equivalents totaled €51.4 million, up from €42.5 million a year earlier.
Chief Executive Juha Saarela emphasized the resilience of Puuilo’s business model, stating it performs well in both challenging and improving economic conditions. Chief Financial Officer Annu von Weymarn noted that growth quality was strong, supported by increased customer traffic and improving gross margin.
