Slides
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Confidential Rusta Q3 2024/25 Göran Westerberg, CEO | Sofie Malmunger, CFO 13 March 2025
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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 Q3 2024/25
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Internal Multi-geography presence Store pipeline at new record level Norway 52 Sweden 116 Finland 42 Germany 10 Signed / approved locations 44 Prioritized store locations 180 Planned openings next three years 50-80 Notes: 1) As of March 12, 2025 2201) stores in Sweden, Norway, Finland and Germany 21 10 11 2 ~60 ~60 ~30 ~30
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Confidential 7.3% Rusta Q3 2024/25 Increased sales and profit in important third quarter Accelerated net sales growth Continued volume growth Increased gross profit by 5.1% Increased EBITA by 3.6% Started to meet last year's IT-incident Currency headwind on sales and margins Q3 ’24/25 vs. ’23/241) Net sales growth in Q3 4.3% Q3 ’24/25 vs. ’23/24 LFL2) growth excl. currency effects in Q3 43.5% Q3 ’24/25 vs. ’23/24 Gross margin in Q3 11.0% Q3 ’24/25 vs. ’23/24 EBITA margin in Q3 Notes: 1) Q3 November to January 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 4.8% Rusta YTD 2024/25 Sales growth and strengthened profit YTD Accumulated positive net sales growth Increased gross profit +5.0% vs. LY Strengthened EBITA +7.4% growth YTD ’24/25 vs. ’23/241) Net sales growth YTD 2.0% YTD ’24/25 vs. ’23/24 LFL2) growth excl. currency effects YTD 43.7% YTD ’24/25 vs. ’23/24 Gross margin YTD 9.4% YTD ’24/25 vs. ’23/24 EBITA margin YTD Notes: 1) May to January 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 Q3 2024/25 Key events Customer recruitment continues • Club Rusta members increase of 12.8% in Q3 • Growing social media interest in our products boosts customer influx and sales Rental market favorable • Continued positive view on expansion potential • Increased store opening rate • Customers regaining confidence and has responded well to our X- mas range and price position • Increased footfall to our stores and share of higher ticket items Norway gaining momentum • Norway begins to show same signs of recovery as we started seeing for Sweden in November Sweden takes the lead
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Confidential Long game strategy Germany – Our approach • Germany EU’s largest discount market and key to continental Europe • Building on strengths and focus on similarities: One assortment, One concept • Careful investments and pace of expansion until proof of concept 10 stores today
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Confidential Long game strategy Next phase in Germany • Evaluation of store performance based on type of location, demographics, neighbors, marketing and sales mix has now been concluded • Decision to open up to 3-5 new stores based on these insights • Provided these stores develop as expected, we will have taken an important step towards proof-of- concept • The first store based on new learnings now signed and part of current pipeline
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Confidential Rusta Q3 2024/25 Updated store concept to be rolled out during 2025 • All 220 stores + new stores • Improved space allocation & area utilization • Strengthened in-store communication • Estimated to deliver additional 1.5-2% LFL • 65 million SEK investment with payback within a year • All stores completed before X-mas 2025
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Confidential Financial performance Rusta Q3 2024/25
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Confidential Rusta Q3 2024/25 Accelerated net sales growth Continued increased EBITA profitIncreased gross profit Accelerated sales growth, increased gross profit and EBITA Net sales (MSEK) Gross profit (MSEK) & gross margin (%) EBITA (MSEK) 369 383 Q3 '23/24 Q3 '24/25 3.6% 1,440 1,514 Q3 '23/24 Q3 '24/25 5.1% 3,247 3,483 Q3 '23/24 Q3 '24/25 7.3% 44.3% 43.5%
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Confidential Rusta Q3 2024/25 Net sales growth in largest segments Strengthened profitability in largest segment Q3’ 24/25 vs. Q3 '23/24 EBITA excl. IFRS 16 margin in Q3 Strengthened growth and profit in our largest segment 10.1% 7.3% -0.4% Net sales growth excl. currency effects online 20.5% 15.8% 3.6% online
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Confidential EBITA and EBITA%, Q3 2024/25 Rusta Q3 2024/25 Increased profit due to volume growth and lower OPEX Profitability drivers in Q3 1. Sales and volume growth 2. Planned campaigning 3. Improved purchase prices 4. Negative currency effects 5. Lower OPEX Currency neutral EBITA margin at 11.4% Notes: 1) Including Other operating income and expenses, Depreciations and amortization of intangible assets and property plan and equipment. 1) 11.4% 11.0% 369 383 Q3 '23/24 Sales COGS OPEX Other Q3 '24/25
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Confidential Rusta Q3 2024/25 Planned increase in working capital Low net debt despite increased automation investment Net working capital (MSEK) Net debt excl. IFRS 16 (MSEK) Continued strong balance sheet and cash flow Lower inventory due to IT-incident -381 54 Q3 '23/24 Q3 '24/25 x LTM EBITDA excl. IFRS 16 -0.50x 0.07x 1,098 1,682 Q3 '23/24 Q3 '24/25 % LTM sales 10% 15%
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Confidential Strategic outlook Rusta Q3 2024/25
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Confidential Market recovery • Sweden continues in the lead • Norway picking up • FX volatility Rusta Q3 2024/25 Summary & Outlook Current trading • February showed strong sales across all segments • Combination of visitation and average ticket Ongoing activities • Investing in new stores • Investing in existing stores • Investing in supply chain efficiency
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Confidential Q&A Rusta Q3 2024/25
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Confidential Thank you Next event: Year-end report Q4 2024/25 June 17, 2025