Rusta increased sales during the second quarter 2024/25, August to October, despite negative currency effects and price reductions for customers. Net sales increased by 3.1 percent (14.4) compared to the same quarter last year and amounted to MSEK 2,723 (2,642). The EBITA margin was 4.9 percent (5.3). However, excluding currency effects, profitability was improved due to a strengthened gross margin and a reduced share of operating expenses. Rusta also revises its forecast for store openings upward, from 40-60 to 50-80 new stores over the next three years.
Summary of the second quarter 2024/25:
- Net sales amounted to MSEK 2,723 (2,642), an increase of 3.1% (14.4%)
- Net sales excl. currency effects increased during the quarter by 5.1% (13.2%)
- LFL sales excl. currency effects increased by 0.8% (9.3%)
- Gross profit increased by 3.6% and amounted to MSEK 1,195 (1,153) and the gross margin was 43.9% (43.6%)
- EBITA amounted to MSEK 135 (141) and the EBITA margin was 4.9% (5.3%)
- Net profit for the quarter amounted to MSEK 58 (69)
- Cash flow from operating activities amounted to MSEK -2 (-3)
- There were five (three) new stores opened during the quarter
Summary of the period May 2024 - October 2024:
- Net sales amounted to MSEK 5,792 (5,601), an increase of 3.4% (12.9%)
- Net sales excl. currency effects increased during the period by 4.2% (12.0%)
- LFL sales excl. currency effects increased by 0.9% (7.5%)
- Gross profit increased by 5.0% and amounted to MSEK 2,538 (2,418) and the gross margin was 43.8% (43.2%)
- EBITA amounted to MSEK 485 (439) and the EBITA margin was 8.4% (7.8%)
- Net profit for the period amounted to MSEK 288 (258)
- Cash flow from operating activities amounted to MSEK 604 (761)
- There were six (four) new stores opened during the period
Göran Westerberg, CEO of Rusta, comments on the quarter:
"Rusta continues to grow during the second quarter with a strengthened gross margin. The inflow of new stores has reached record levels, and we have revised our forecast for store openings upward. The positive trend of high recruitment rates to Rusta's loyalty program, Club Rusta, continues and we reached 6 million members during the quarter. With a robust balance sheet, Rusta is well-positioned for a new period of strong growth as the economy turns."
Presentation of the report
Rusta presents the interim report for the second quarter of 2024/2025 via webcast and teleconference today, Tuesday September 10, at 9:00 am CET. The report will be presented by Göran Westerberg, CEO of Rusta, and CFO Sofie Malmunger. The presentation will be held in English.
Link to webcast participation (no advance notification is necessary): https://ir.financialhearings.com/rusta-q2-report-2024/register
Registration to participate via telephone: https://conference.financialhearings.com/teleconference/?id=50050368
After registration you will be provided a phone number and a conference ID to access the conference. You can ask questions verbally via the teleconference.
For further information, please contact:
Cecilia Gärdestad, Corporate PR and Investor Relations
Phone: +46 (0)70 166 48 73
E-mail: cecilia.gardestad@rusta.com
investors.rusta.com
About Rusta
Rusta is a leading retailer in the Nordic low-price market with over 210 stores in Sweden, Norway, Finland and Germany. The physical stores are supplemented by Rusta's online sales channel, Rusta Online, in Sweden and Finland. Rusta offers a wide but carefully selected range of home and leisure products, with good quality at low prices. Rusta has more than 4,000 employees with headquarter in Upplands Väsby, Sweden. Rusta's shares are traded on Nasdaq Stockholm (RUSTA). investors.rusta.com
This information is information that Rusta AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-12-10 07:00 CET.
