Musti Group Oyj · OMXHEX:MUSTI
Musti Group Oyj — Q3 2024 Earnings Presentation
15 slides from Musti Group Oyj's earnings presentation, Jul 30, 2024
Slide 1: Interim Report 1 October 2023–30 June 2024
Interim Report 1 October 2023–30 June 2024 30 July 2024 CEO David Rönnberg CFO Robert Berglund
Slide 2: Summary Q3/2024
Summary Q3/2024 October 2023 – June 2024 Net sales Growth excl. currency effects Like-for-like sales growth EUR 326.9m 5.0% 1.8% Own and exclusive brands Cash flow Online like-for-like growth 51.6% EUR 19.5m 10.7% Loyalty club members growth Gross margin Adjusted EBITDA +3.5% 44.4% EUR 47.9m Interim
Slide 3: Key topics of Q3
Key topics of Q3 3
Slide 4: Q3 net sales grew 0.7% to EUR 104.0 million
Q3 net sales grew 0.7% to EUR 104.0 million Quarterly net sales, EUR million 9 months net sales, EUR million Net sales: rolling 12 months 431 437 437 8.2% 8.4% 4.8% 5.5% 0.7% 20.2% 16.0% 9.0% 3.7% 417 426 115.7 326.9 315.4 110.4 107.2 289.3 103.3 104.0 249.4 9% Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Net sale
Slide 5: Gross margin facing temporary pressure
Gross margin facing temporary pressure • Gross margin was 43.3% (45.7%). Gross margin % O&E % • Gross margin was negatively affected by targeted investment in price and campaign activities and a slight decrease in the share of sales of own and exclusive brands to 50.2% (51.4%). 50.2% 43.3% EUR/SEK a
Slide 6: Group adjusted EBITDA decreased by 27.8% to EUR 12.5 million in Q3/24
Group adjusted EBITDA decreased by 27.8% to EUR 12.5 million in Q3/24 Quarterly adjusted EBITDA, EUR million 9 months adjusted EBITDA, EUR million • Group adjusted EBITDA decreased by 27.8% to EUR 12.5 (17.3) million. 20.6 20.5 53.0 • The decrease was due to continuous weak 20 49.3 consumer climate
Slide 7: Segments
Segments 7
Slide 8: Net sales in Finland decreased by 5.2% to EUR 45.0 million in Q3/24
Net sales in Finland decreased by 5.2% to EUR 45.0 million in Q3/24 Net sales, EUR million Quarterly adjusted EBITDA, 9 months adjusted EBITDA, EUR million EUR million • Net sales in Finland decreased by 5.2% to EUR 15.6% 12.7% 7.8% 3.7% -5.2% 37.7 45.0 (47.5) million. 16 15.0 36.0 14.3 35,0 32.5 32
Slide 9: Net sales in Sweden increased by 2.6% to EUR 42.1 million in Q3/24
Net sales in Sweden increased by 2.6% to EUR 42.1 million in Q3/24 Net sales, EUR million Quarterly adjusted EBITDA, 9 months adjusted EBITDA, EUR million EUR million 12,0 • Net sales in Sweden increased by 2.6% to EUR 42.1 1.0% 2.2% 2.5% 4.8% 2.6% 10.3 9.8 30,0 28.1 (41.1) million. 10,0 26.7 26.2 8
Slide 10: Net sales in Norway increased by 14.3% to EUR 16.9 million in Q3/24
Net sales in Norway increased by 14.3% to EUR 16.9 million in Q3/24 Net sales, EUR million Quarterly adjusted EBITDA, 9 months adjusted EBITDA, EUR million EUR million • Net sales in Norway increased by 14.3% to EUR 7.1% 13.1% 2.5% 12.4% 14.3% 5 4.8 16.9 (14.8) million, driven by like-for-like growt
Slide 11: Financial position
Financial position 11
Slide 12: Cash flow impacted temporarily by non-recurring items
Cash flow impacted temporarily by non-recurring items • In Q3, the net cash flow from operating activities totaled EUR -3.3 (22.1) million and was negatively affected by EUR 8.7 million non- recurring cost items. Change in net working capital had an impact Cash flow from operating activities, EUR mi
Slide 13: 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 14: Summary of Q3/24
Summary of Q3/24 • Group net sales totaled EUR 104.0 (103.3) million, an increase of 0.7%. • Like-for-like growth, which is calculated in local currencies, amounted to -2.6% (10.2%). • Online like-for-like growth was 6.6% (19.9%). • Gross margin was 43.3% (45.7%) due to targeted investments in price
Slide 15: Thank you!
Interim Report for October 2023 – September 2024 will be published on 7 November 2024. More information David Rönnberg, CEO +46 70 896 6552 david.ronnberg@mustigroup.com www.mustigroup.com/investors X @MustiGroup Thank you! 15