Finland · Delayed Price · Currency is EUR Musti Group Oyj Earnings Call Transcripts
Fiscal Year 2025
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Q4 and full-year results showed strong sales and margin growth, with 14.6% net sales increase in Q4 and significant gains in Norway and new markets. Integration of recent acquisitions and platform changes impacted online sales, but market share increased across all regions.
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Sales grew 17% year-over-year, with strong gains in Norway and Finland and improved gross margin. Investments in growth and integration of the Baltics continue, while Sweden lags in market recovery. Leverage remains at 3.3, with stable input costs but higher distribution expenses.
Fiscal Year 2024
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Sales grew 5.6% in Q5, with strong performance in Norway and continued online growth. Gross margin declined due to pricing campaigns, but normalization is expected by summer 2025. Expansion into new markets and vet clinics continues, with leverage at 3.1x.
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Net sales grew 3.9% to nearly EUR 440 million, with customer numbers up 3% and online sales strong, but gross margin and EBITDA declined due to targeted pricing investments. Management expects growth and margin recovery in 2025, with expansion into the Baltics underway.