Musti Group Oyj · OMXHEX:MUSTI
Musti Group Oyj — Q1 2025 Earnings Presentation
16 slides from Musti Group Oyj's earnings presentation, May 21, 2025
Slide 1: Interim Report 1 January–31 March 2025
Interim Report 1 January–31 March 2025 21 May 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 of the first quarter of the financial year 2025
Summary of the first quarter of the financial year 2025 January – March 2025 Net sales Net sales growth Like-for-like sales growth 2.4% EUR 119.8m 11.8% (3.1%) Own and exclusive brands Operating cash flow Online like-for-like sales growth 51.0% 6.6% (51.6%) EUR 18.7m (12.6%) # of customers growth Gr
Slide 4: Key topics of Q1
Key topics of Q1 4
Slide 5: Net sales grew 11.8% to EUR 119.8 million driven by Pet City acquisition
Net sales grew 11.8% to EUR 119.8 million driven by Pet City acquisition LTM net sales, EUR million Quarterly net sales, EUR million Net sales in Jan–Mar, EUR million 458 5.5% 0.7% 1-0% 5.6% 11.8% 12.1% 10.0% 5.5% 11.8% 445 437 437 438 122.2 119.8 119.8 111.5 107.2 107.2 104.0 101.7 92.4 Q2/24 Q3/24
Slide 6: Gross margin still facing temporary pressure
Gross margin still facing temporary pressure Comparative periods • Gross margin was 42.5% (43.9%). correspond to calendar year quarters • The share of sales of own and exclusive brands was 51.0% (51.6%). Gross margin % O&E % • The share of employee benefits and other operating expenses as percentage
Slide 7: Group adjusted EBITDA decreased by 15.1% to EUR 12.7 million
Group adjusted EBITDA decreased by 15.1% to EUR 12.7 million Quarterly adjusted EBITDA, EUR million Adjusted EBITDA in Jan–Mar, EUR million • Group adjusted EBITDA decreased by 15.1% to EUR 12.7 (15.0) million. Non-recurring costs had EUR 0.9 million impact on adjusted EBITDA. 16.6 20,0 • The decrea
Slide 8: Operating segments
Operating segments 8
Slide 9: Net sales in Finland increased by 1.8% to EUR 47.4 million
Net sales in Finland increased by 1.8% to EUR 47.4 million Quarterly net sales, EUR million Quarterly adjusted EBITDA, • Net sales in Finland increased by 1.8% to EUR EUR million 47.4 (46.6) million. 3.7% -5.2% -4.1% 0.1% 1.8% • Sales were still negatively affected by weak 16,0 consumer climate. 51.
Slide 10: Net sales in Sweden increased by 2.8% to EUR 44.8 million
Net sales in Sweden increased by 2.8% to EUR 44.8 million Quarterly net sales, EUR million Quarterly adjusted EBITDA, • Net sales in Sweden increased by 2.8% to EUR 44.8 12,0 (43.6) million. The growth was driven by online EUR million sales and increased number of stores opened 4.8% 2.6% 4.8% 2.4% 2
Slide 11: Net sales in Norway increased by 12.0% to EUR 19.1 million
Net sales in Norway increased by 12.0% to EUR 19.1 million Quarterly net sales, EUR million Quarterly adjusted EBITDA, • Net sales in Norway increased by 12.0% to EUR EUR million 19.1 (17.1) million, driven by like-for-like (leap day 12.4% 14.3% 6.5% 11.7% 12.0% 5.0 adjusted) sales growth of 8.9% an
Slide 12: Net sales in New Markets amounted to EUR 8.5 million
Net sales in New Markets amounted to EUR 8.5 million • Pet City, which is reported in the segment New Markets, was acquired in November 2024. • Net sales in New Markets was EUR 8.5 million in the quarter. • Adjusted EBITDA was EUR 0.5 million and adjusted EBITDA margin was 5.6%. • During 2025 the sa
Slide 13: Financial position
Financial position 13
Slide 14: Cash flow from operating activities totaled EUR 18.7 million
Cash flow from operating activities totaled EUR 18.7 million • Net cash flow from operating activities totaled EUR 18.7 (7.2) million in the quarter. Non-recurring items had EUR -0.9 (-10.3) Quarterly operating cash flow, EUR million million impact on operating cash flow. Change in net working capit
Slide 15: Summary of Q1/25
Summary of Q1/25 • Group net sales totaled EUR 119.8 (107.2) million, an increase of 11.8%. • Like-for-like sales growth, which is calculated in local currencies and excluding the leap day effect, amounted to 2.4% (3.1%). • Online like-for-like sales growth was 6.6% (12.6%). • Gross margin decreased
Slide 16: Thank you!
Half-Year Financial Report for January–June 2025 will More information be published on 28 July 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 Thank you! 16