Musti Group Oyj · OMXHEX:MUSTI
Musti Group Oyj — Q2 2025 Earnings Presentation
16 slides from Musti Group Oyj's earnings presentation, Jul 28, 2025
Slide 1: Half-Year Financial Report 1 January–30 June 2025
Half-Year Financial Report 1 January–30 June 2025 28 July 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 second quarter of financial year 2025
Summary of the second quarter of financial year 2025 Net sales Net sales growth Like-for-like sales growth EUR 121.7m 17.0% 5.7% (EUR 104.0m) (0.7%) (-2.6%) Own and exclusive brands Operating cash flow Online like-for-like sales growth 50.6% EUR 11.4m 4.9% (50.2%) (EUR -3.3m) (6.6%) # of customers g
Slide 4: Key topics of Q2
Key topics of Q2 4
Slide 5: Net sales grew 17.0% to EUR 121.7 million driven by growth in all markets
Net sales grew 17.0% to EUR 121.7 million driven by growth in all markets LTM net sales, EUR million Quarterly net sales, EUR million Net sales in Jan–Jun, EUR million 475 458 0.7% 1.0% 5.6% 11.8% 17.0% 13.8% 9.1% 3.1% 14.3% 440 424 425 241.5 122.2 119.8 121.7 111.5 205.0 211.2 104.0 187.9 9% Q3/24
Slide 6: Gross margin increased during the quarter driven sales mix, campaign activities and fx
Gross margin increased during the quarter driven sales mix, campaign activities and fx Comparative periods • Gross margin was 43.8% (43.3%). correspond to calendar year quarters • This was impacted by the investments in Gross margin % growth and market share O&E % • The share of sales of own and exc
Slide 7: Group adjusted EBITDA increased by 3.9% to EUR 12.9 million
Group adjusted EBITDA increased by 3.9% to EUR 12.9 million • Group adjusted EBITDA increased by 3.9% to EUR Quarterly adjusted EBITDA, EUR million Adjusted EBITDA in Jan–Jun, EUR 12.9 (12.5) million. Non-recurring costs had EUR 0.8 million impact on the adjusted EBITDA. million 33.9 • Currency exch
Slide 8: Operating segments
Operating segments 8
Slide 9: Net sales in Finland increased by 6.0% to EUR 47.7 million
Net sales in Finland increased by 6.0% to EUR 47.7 million Quarterly net sales, EUR Quarterly adjusted EBITDA, Adjusted EBITDA in Jan-Jun, million EUR million EUR million • Net sales in Finland increased by 6.0% to EUR 47.7 (45.0) million. -5.2% -4.1% 0.1% 1.8% 6.0% • The investments made in growth
Slide 10: Net sales in Sweden increased by 7.8% to EUR 45.4 million
Net sales in Sweden increased by 7.8% to EUR 45.4 million Quarterly net sales, EUR Quarterly adjusted EBITDA, Adjusted EBITDA in Jan-Jun, • Net sales in Sweden increased by 7.8% to EUR million EUR million EUR million 45.4 (42.1) million. The growth was driven by the increased number of stores opened
Slide 11: Net sales in Norway increased by 16.9% to EUR 19.8 million
Net sales in Norway increased by 16.9% to EUR 19.8 million Quarterly net sales, EUR Quarterly adjusted EBITDA, Adjusted EBITDA in Jan-Jun, million EUR million EUR million • Net sales in Norway increased by 16.9% to EUR 6.5% 11.7% 12.0% 16.9% 19.8 (16.9) million, driven by like-for-like sales 14.3% 6
Slide 12: Net sales in New Markets amounted to EUR 8.8 million
Net sales in New Markets amounted to EUR 8.8 million Quarterly net sales, EUR Quarterly adjusted EBITDA, million EUR million • Pet City, which is reported in the segment New Markets, was acquired in November 2024. 1,0 • Net sales in New Markets was EUR 8.8 million in the quarter. 25,0 0,9 0.8 • Adju
Slide 13: Financial position
Financial position 13
Slide 14: Cash flow from operating activities totaled EUR 11.4 million
Cash flow from operating activities totaled EUR 11.4 million • Net cash flow from operating activities totaled EUR 11.4 (-3.3) million in the quarter. Non-recurring items had EUR -0.7 (-8.7) Quarterly operating cash flow, EUR million million impact on operating cash flow. Change in net working capit
Slide 15: Summary of Q2/25
Summary of Q2/25 • Group net sales totaled EUR 121.7 (104.0) million, an increase of 17.0%. • Like-for-like sales growth, which is calculated in local currencies, amounted to 5.7% (-2.6%). • Gross margin increased to 43.8% (43.3%). The share of sales of own and exclusive brands was 50.6% (50.2%). •
Slide 16: Thank you!
Interim Report for January–September 2025 More information will be published on 12 November 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