Slides
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Confidential Rusta Q2 2024/25 Göran Westerberg, CEO | Sofie Malmunger, CFO 10 December 2024
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Confidential Agenda 1. Business update 2. Financial performance 3. Summary and Q&A
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Confidential Business update Rusta Q2 2024/25
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Confidential Multi-geography presence Five new stores opened during Q2 2191) stores in Sweden, Norway, Finland and Germany with significant white space, and profitable online store Store openings during Q2 2024/25 ➜ Egersund (NO) ➜ Tønsberg (NO) ➜ Lørenskog (NO) ➜ Höör (SE) ➜ Bäckebol (SE) Store opening after the quarter ➜ Malmö - Trelleborgsvägen (SE) Notes: 1) As of December 2024 Norway 52 Sweden 115 Finland 42 Germany 10
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Confidential 3.1% Rusta Q2 2024/25 Positive profitability development excluding currency effects Positive net sales growth despite currency headwind (-2.0%) and price investments Continued volume growth Increased gross profit (+3.6%) Underlying EBITA growth offset by negative FX impact Q2 ’24/25 vs. ’23/241) Net sales growth in Q2 0.8% Q2 ’24/25 vs. ’23/24 LFL2) growth excl. currency effects in Q2 43.9% Q2 ’24/25 vs. ’23/24 Gross margin in Q2 4.9% Q2 ’24/25 vs. ’23/24 EBITA margin in Q2 Notes: 1) Q2 August to October. 2) Change in comparable sales between current and comparative periods, where comparable sales are sales in comparable stores that have been operational throughout the entire current and comparative period. For a store to be classified as comparable, it must have been open for a full financial year.
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Confidential 3.4% Rusta H1 2024/25 Strengthened profitability and increased sales Positive net sales growth continued in H1 Increased gross profit +5.0% vs. LY Strengthened EBITA +10.6% growth and 8.4% EBITA margin H1 ’24/25 vs. ’23/241) Net sales growth in H1 0.9% H1 ’24/25 vs. ’23/24 LFL2) growth excl. currency effects in H1 43.8% H1 ’24/25 vs. ’23/24 Gross margin in H1 8.4% H1 ’24/25 vs. ’23/24 EBITA margin in H1 Notes: 1) Q2 May to October. 2) Change in comparable sales between current and comparative periods, where comparable sales are sales in comparable stores that have been operational throughout the entire current and comparative period. For a store to be classified as comparable, it must have been open for a full financial year.
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Confidential Rusta Q2 2024/25 Key events 6 million members • Club Rusta members increase of 13.2% in Q2 • Increased footfall to our stores Revised forecast for store expansion • Record pipeline of new stores • More positive view on expansion potential • Consumers continued to look for campaigns and lower ticket items Continued growth • Solid growth in Sweden and Norway despite tough comparables Consumer sentiment
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Confidential Rusta Q2 2024/25 New guidance on expansion Signed / approved locations 38 (35) Prioritized store locations 180 (150) Planned openings next three years 50-80 (40-60) ~60 ~60 ~30 ~30 20 8 9 1
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Confidential Financial performance Rusta Q2 2024/25
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Confidential Rusta Q2 2024/25 Positive net sales growth Continued high profitabilityIncreased gross margin Continued sales growth, increased gross margin and high profitability Net sales (MSEK) Gross profit (MSEK) & gross margin (%) EBITA (MSEK) 2,642 2,723 Q2 '23/24 Q2 '24/25 3.1% 141 135 Q2 '23/24 Q2 '24/25 -4.1% 1,153 1,195 43.6% 43.9% Q2 '23/24 Q2 '24/25 3.6%
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Confidential Rusta Q2 2024/25 Net sales growth in largest segments Profitability effected short term by more store openings Q2’ 24/25 vs. Q2 '23/24 EBITA excl. IFRS 16 margin in Q2 Continued growth in our largest segments despite tough comparables +18% growth LY 3.8% 13.7% -0.5% Net sales growth excl. currency effects online 15.7% 8.8% -0.1% online
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Confidential EBITA margin Q2 2024/25 Rusta Q2 2024/25 Positive profitability development excluding currency effects Profitability drivers in Q2 1. Positive volume growth 2. Improved purchase prices 3. Positive inventory effects 4. Positive OPEX development 5. Negative currency effects Notes: 1) Including Other operating income and expenses, Depreciations and amortization of intangible assets and property plan and equipment. 1) Solely related to FX
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Confidential Rusta Q2 2024/25 Net working capital in line with LY Decreased net debt Net working capital (MSEK) Net debt excl. IFRS 16 (MSEK) Strong balance sheet and cash flow 1,266 1,394 Q2 '23/24 Q2 '24/25 % LTM sales 12% 12% 41 18 Q2 '23/24 Q2 '24/25 x LTM EBITDA excl. IFRS 16 0.06x 0.02x
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Confidential Good start of Christmas sales • November sales performed according to plan Rusta Q2 2024/25 Outlook Sweden - early signs of recovery? • Increased average ticket during November combined with increased visitation Current market advantages • Attractive rental market • New member and customer inflow
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Confidential Summary and Q&A Rusta Q2 2024/25
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Confidential Thank you Next event: Interim report Q3 2024/25 March 13, 2025