Musti Q2 revenue, gross margin up on Norway, own brand food strength
Musti Q2 revenue, gross margin up on Norway, own brand food strength
Overview
Finland pet care retailer's Q2 revenue rose 13.8% yr/yr, driven by Norway and ZU acquisition
Gross margin improved to 44.3% from 43.8%, aided by own-brand food production
Adjusted EBITDA rose to EUR 14.0 mln, but margin declined due to higher operating expenses
Outlook
Musti expects structural trends in pet parenting to support demand for premium products and services
Company anticipates improving consumer conditions to gradually support market growth across Europe
Musti aims to grow faster than the market through innovation, integration and geographic expansion
Result Drivers
NORWAY PERFORMANCE - Co said sales growth and profitability were strong in Norway
E-COMMERCE PLATFORM IMPACT - Like-for-like sales growth was negatively affected by eCom platform changes
OWN-BRAND FOOD - Gross margin improvement was mainly driven by increased share of own brand food production in the company's own factory
Company press release: ID:nWkrZYj9H
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| EUR 138.50 mln |
|
Q2 Adjusted EBITDA |
| EUR 14 mln |
|
Q2 Gross Margin |
| 44.30% |
|
Q2 Adjusted EBITA |
| EUR 2.20 mln |
|
Q2 Adjusted EBITA Margin |
| 1.60% |
|
Q2 Adjusted EBITDA Margin |
| 10.10% |
|
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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.)