Denmark's Matas Q2 EBITDA slips on lower margin, higher staff costs
Overview
Denmark beauty retailer's Q2 revenue grew 2.4%
Q2 EBITDA before special items fell 4.2% yr/yr due to lower margin, higher staff costs
Company maintained 2026/27 financial guidance but expects results at lower end of range
Outlook
Matas maintains 2026/27 guidance, expects revenue growth of 2%-6% currency neutral
Company expects 2026/27 EBITDA margin before special items of 14.0%-14.5%
Matas says it is trending toward lower end of guidance range for 2026/27
Result Drivers
COMPETITIVE PRESSURE - Co said Q2 results were affected by tough market conditions, especially for KICKS in Sweden
LOWER CAMPAIGN ACTIVITY - Delays in IT system implementation led to fewer marketing campaigns in Q2, impacting performance
GROSS MARGIN PRESSURE - Gross margin declined due to pricing initiatives, product mix changes, and increased consumer focus on promotions
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | DKK 1.99 bln | ||
Q2 Adjusted EBITDA | DKK 231 mln | ||
Q2 Gross Margin | 44.80% | ||
Q2 Adjusted EBITDA Margin | 11.60% |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the miscellaneous specialty retailers peer group is "buy"
Wall Street's median 12-month price target for Matas A/S is DKK120.00, about 23.5% above its November 4 closing price of DKK97.20
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago
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(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.)