Musti Group Oyj · OMXHEX:MUSTI
Musti Group Oyj — Q5 2024 Earnings Presentation
17 slides from Musti Group Oyj's earnings presentation, Feb 11, 2025
Slide 1: Financial Statements Release 1 October 2023–31 December 2024
Financial Statements Release 1 October 2023–31 December 2024 11 February 2025 CEO David Rönnberg CFO Robert Berglund
Slide 2: Musti is the only pan-Nordic omnichannel player in pet care
Musti is the only pan-Nordic omnichannel player in pet care Store and omnichannel banners complemented by leading pureplay brands Store rollout with increasing Underlying core footprint maturity business with steady growth Store Store banner banner Omni .NO Omni banner banner .FI Pureplay Pureplay b
Slide 3: Summary Q5 and FY2024
Summary Q5 and FY2024 October 2023 – Q5, October – December 2024 December 2024 Growth excl. currency effects Like-for-like sales growth Net sales Net sales EUR 122.2m 5.6% 1.2% EUR 560.6m Own and exclusive brands Operating cash flow Online like-for-like growth Operating cash flow 51.8% EUR 7.6m 8.8%
Slide 4: Key topics of Q5
Key topics of Q5 4
Slide 5: Q5 net sales grew 5.6% to EUR 122.2 million in weak consumer climate
Q5 net sales grew 5.6% to EUR 122.2 million in weak consumer climate Net sales: rolling 12 months, EUR Quarterly net sales, EUR million million 437 437 438 445 431 • Group net sales increased by 5.6% to EUR 122.2 4.8% 5.5% 0.7% 1.0% 5.6% (115.7) million. The increase was largely due to solid online
Slide 6: Gross margin still facing temporary pressure
Gross margin still facing temporary pressure Q5 comparatives are Q1 periods (Oct-Dec) of the next financial years • Gross margin was 44.0% (45.9%). Gross margin % O&E % • Gross margin was negatively affected by targeted investment in price and campaign activities, slower sales in discretionary items
Slide 7: Group adjusted EBITDA decreased by 16.0% to EUR 17.2 million in Q5/24
Group adjusted EBITDA decreased by 16.0% to EUR 17.2 million in Q5/24 Quarterly adjusted EBITDA, EUR million • Group adjusted EBITDA decreased by 16.0% to EUR 17.2 (20.5) million. Adjusted EBITDA was 20.5 impacted 1.3 MEUR of non recurring costs. 20 • The decrease was due to continuous weak 17.2 con
Slide 8: Segments
Segments 8
Slide 9: Net sales in Finland increased by 0.1% to EUR 51.3 million in Q5/24
Net sales in Finland increased by 0.1% to EUR 51.3 million in Q5/24 Net sales, EUR million Quarterly adjusted EBITDA, EUR million • Net sales in Finland increased by 0.1% to EUR 7.8% 3.7% -5.2% -4.1% 0.1% 51.3 (51.2) million. 16,0 14.3 • Sales were still negatively affected by weak 51.2 51.3 12.4 12
Slide 10: Net sales in Sweden increased by 2.4% to EUR 47.1 million in Q5/24
Net sales in Sweden increased by 2.4% to EUR 47.1 million in Q5/24 Net sales, EUR million Quarterly adjusted EBITDA, EUR million 12,0 • Net sales in Sweden increased by 2.4% to EUR 47.1 2.5% 4.8% 2.6% 4.8% 2.4% 10.3 (46.0) million. The growth was driven by increased 10,0 number of stores opened duri
Slide 11: Net sales in Norway increased by 11.7% to EUR 20.6 million in Q5/24
Net sales in Norway increased by 11.7% to EUR 20.6 million in Q5/24 Net sales, EUR million Quarterly adjusted EBITDA, EUR million 5.0 • Net sales in Norway increased by 11.7% to EUR 2.5% 12.4% 14.3% 6.5% 11.7% 5,0 4.8 20.6 (18.5) million, driven by like-for-like sales growth of 8.9% and ramp-up of t
Slide 12: Net sales in New Markets was EUR 3.2 million in Q5/24
Net sales in New Markets was EUR 3.2 million in Q5/24 • Pet City, which is reported in the segment New Markets, was acquired in November 2024 and has been consolidated in Musti Group since December 2024. • Net sales in New Markets was EUR 3.2 million in December 2024. The net sales would have been a
Slide 13: Financial position
Financial position 13
Slide 14: Cash flow from operating activities totaled EUR 7.6 million in Q5/24
Cash flow from operating activities totaled EUR 7.6 million in Q5/24 • Net cash flow from operating activities totaled EUR 7.6 (15.7) million in the quarter. Change in net working capital had an impact of EUR -6.8 (-3.0) million to the cash flow. Cash flow from operating activities, EUR million • In
Slide 15: Financial targets
Financial targets • In April, the Board of Directors decided to withdraw the company's long-term financial targets. • With the new majority owner, Musti Group is now in a new strategic phase with need to focus on sustainable growth to create value to its pet parent customers, owners and other stakeh
Slide 16: Summary of Q5/24
Summary of Q5/24 • Group net sales totaled EUR 122.2 (115.7) million, an increase of 5.6%. If Pet City would have been consolidated for the full quarter the net sales would have increased with 10,7%. • Like-for-like sales growth, which is calculated in local currencies, amounted to 1.2% (4.8%). • On
Slide 17: Thank you!
Interim Report for January–March 2025 will More information be published on 21 May 2025. David Rönnberg, CEO +46 70 896 6552 david.ronnberg@mustigroup.com Robert Berglund, CFO +358 50 534 8657 robert.berglund@mustigroup.com www.mustigroup.com/investors X @MustiGroup Thank you! 17