AS Silvano Fashion Group, an Estonia-based apparel and lingerie company listed on Nasdaq Tallinn, has released its consolidated interim financial report for the second quarter and the first six months of 2026. The report covers selected financial indicators comparing the six months ended 30 June 2026 against the same period in 2025, as well as the balance sheet position as of 30 June 2026 versus 31 December 2025.

Financial Performance

Group sales reached EUR 28,590 thousand during the first six months of 2026, a 0.6% increase compared with the same period in the prior year. Retail sales grew by 13.6% measured in EUR, pointing to continued momentum in the Group's direct-to-consumer channel even as overall top-line growth remained modest.

Gross profit for the first half of 2026 totalled EUR 15,892 thousand, representing a 5.3% year-over-year increase. Gross margin improved by 4.7 percentage points compared with the first half of 2025, while the cost of goods sold decreased by 4.8%.

Consolidated operating profit for the six-month period was EUR 5,751 thousand, down from EUR 5,961 thousand in the corresponding period of 2025 — a 3.5% decline. The consolidated operating profit margin stood at 20.1% (compared with 21.0% in the first half of 2025). Consolidated EBITDA decreased by 0.8% to EUR 7,508 thousand, corresponding to a margin of 26.3% (versus EUR 7,566 thousand and a 26.6% margin in the prior-year period). The narrowing of operating profit relative to the gross-margin gain came alongside a notable rise in personnel costs during the period.

Net profit attributable to the equity holders of the Parent company was EUR 3,961 thousand for the first half of 2026, compared with EUR 5,781 thousand in the first half of 2025. The net profit margin attributable to Parent company equity holders was 13.9%, down from 20.3% one year earlier.

Financial Position

As of 30 June 2026, consolidated assets totalled EUR 98,603 thousand, a 5.1% increase from 31 December 2025.

Trade and other receivables rose by EUR 846 thousand from year-end 2025 to EUR 2,175 thousand. The inventory balance declined by EUR 1,535 thousand, settling at EUR 29,702 thousand.

Equity attributable to Parent company equity holders increased by EUR 4,711 thousand, reaching EUR 81,479 thousand as of 30 June 2026. Current liabilities decreased by EUR 1,002 thousand during the first six months of 2026.

Investments

Capital expenditure on property, plant, and equipment totalled EUR 115 thousand during the first half of 2026, compared with EUR 368 thousand in the same period of 2025. Investments were directed primarily toward opening and renovating the Group's own stores, as well as equipment and facilities to support production in upcoming periods.

Personnel

As of 30 June 2026, the Group employed 1,594 people, including 553 in retail operations. The remainder were engaged in production, wholesale, administration, and support functions. At 31 December 2025, the headcount was 1,639, with 552 employees in retail.

Total salaries and related taxes for the first six months of 2026 amounted to EUR 8,838 thousand (compared with EUR 7,885 thousand in the prior-year period). Remuneration for key management personnel, including key executives across all subsidiaries, totalled EUR 708 thousand.

Financial Statements Included

• Consolidated Statement of Financial Position
• Consolidated Income Statement
• Consolidated Statement of Comprehensive Income
• Consolidated Statement of Cash Flows

AS Silvano Fashion Group
Phone: +372 6845 000
Email: [email protected]

Source: GlobeNewswire