In the first quarter of the financial year, Retail Puuilo’s operating profit before intangible amortization (EBITA) was EUR 8.3 million, which was slightly below analysts’ expectations of EUR 8.6 million. However, this figure was higher than the previous year’s operating profit of EUR 7.3 million. When adjusted for non-recurring items, EBITA was also reported at EUR 8.3 million, an increase from the previous year’s figure of EUR 7.3 million.
Despite political strikes and weather conditions affecting performance in April, Puuilo saw strong comparable turnover growth in February-March that slowed towards the end of April. Customers have continued to be cautious, with a decrease in the share of goods priced over 200 euros, while cheaper goods have performed well. The number of customers increased by 18.7% across the company and by 6.6% on a comparable basis, although the average purchase per customer decreased compared to the previous year.
CEO Juha Saarela mentioned that business expenses, excluding personnel costs, decreased relative to turnover but the share of personnel costs increased due to the faster than expected opening of three new stores in January and February. Turnover for the quarter was EUR 75 million, which met expectations but was higher than the previous year’s turnover of EUR 65 million due to these new store openings and higher sales prices for certain products.
Puuilo maintained its guidance for the year, aiming for a turnover of EUR 380-410 million and an adjusted EBITA result of EUR 60-70 million despite falling slightly short
