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Finland's Musti Group Q3 sales rise on acquisition boost, firm demand

By Reuters News


Overview

  • Finland pet care retailer's Q3 net sales rose 17.7% with growth in all markets

  • Adjusted EBITDA for Q3 rose 21.9%, with margin improving to 13.7%

  • Net cash flow from operations more than doubled, driven by profitability and lower working capital


Outlook

  • Musti forecasts full-year 2026 net sales of EUR 508.9 mln

  • Company expects full-year 2026 adjusted EBITDA of EUR 62.0 mln

  • Company sees improving retail volumes in Sweden and Finland


Result Drivers

  • ACQUISITION IMPACT - Co said Q3 net sales were boosted by the acquisition of ZU in Portugal, contributing EUR 9.8 mln

  • OWN BRAND PRODUCTION - Higher share of own brand food produced in co's own factory drove gross margin improvement

  • LIKE-FOR-LIKE GROWTH - Co reported 5.6% like-for-like sales growth across all markets in Q3


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

EUR 149.90 mln

Q3 Adjusted EBITDA

EUR 20.60 mln

Q3 Gross Margin

44.60%

Q3 Adjusted EBITA

EUR 8.40 mln

Q3 Adjusted EBITA Margin

5.60%

Q3 Adjusted EBITDA Margin

13.70%


Reuters Recommended Reads

  • Nov 3 - Online fashion retailer Boozt Q3 revenue rises on wider assortment

  • Nov 4 - Sweden's Cloetta Q3 net sales rise; hits mid-term profit target ahead of schedule

  • Nov 3 - Sweden's Latour Q3 industrial profit jumps on sales volume


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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