Slides
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Confidential Rusta Q4 2024/25 Göran Westerberg, CEO | Sofie Malmunger, CFO 17 June 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 Q4 2024/25
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Internal Signed / approved locations 47 Prioritized store locations 180 Planned openings next three years 50-80 2251) stores in Sweden, Norway, Finland and Germany 18 13 14 2 ~60 ~60 ~30 ~30 Norway 53 Q4: +1 Sweden 120 Q4: +5 Finland 42 Germany 10 1) As of June 2025 Multi-geography presence Store pipeline at new record level
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Confidential 12.6% Rusta Q4 2024/25 Increased growth and profitability in fourth quarter Accelerated net sales growth FX negative in net sales with -1.9% Negative calendar effect due to leap year -1.0% Meeting last year's IT-incident with 3.0% Increased gross profit by 7.0% Improved EBITA profitability by 1.6 pp Q4 ’24/25 vs. ’23/241) Net sales growth in Q4 8.6% Q4 ’24/25 vs. ’23/24 LFL2) growth excl. currency effects in Q4 40.9% Q4 ’24/25 vs. ’23/24 Gross margin in Q4 -0.6% Q4 ’24/25 vs. ’23/24 EBITA margin in Q4 Notes: 1) Q4 February to April 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 Q4 2024/25 Strong development in all segments • Strengthened sales and profitability in all segments • Increased average ticket value and visitation in all segments • Increased share of high ticket items 6.4 million Club Rusta members • 18-28 years old is the fastest growing member group • Share of men increasing • Club members average ticket 35% vs. non-members Ramped up expansion rate • Six new stores opened during Q4 • Continued positive view on expansion potential Key events
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Confidential 6.4% Rusta FY 2024/25 Sales growth and strengthened profitability Continued sales and volume growth FX negative in net sales with 0.8% Increased gross profit +5.4% vs. LY Strengthened EBITA by +12.2% Earnings per share increased by 17.4% YTD ’24/25 vs. ’23/241) Net sales growth YTD 3.2% YTD ’24/25 vs. ’23/24 LFL2) growth excl. currency effects YTD 43.1% YTD ’24/25 vs. ’23/24 Gross margin YTD 7.2% YTD ’24/25 vs. ’23/24 EBITA margin YTD Notes: 1) May to April 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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Internal 13 stores opened during the year Climate targets approved by Science Based Target initiative 10 years in Norway and store #50 opened New sourcing office in Türkiye Rusta FY 2024/25 Milestones in FY 2024/25
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Confidential Financial performance Rusta Q4 2024/25
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Confidential Rusta Q4 2024/25 Accelerated net sales growth Continued increased EBITA Increased gross profit Accelerated sales growth and increased profitability Net sales (MSEK) Gross profit (MSEK) & gross margin (%) EBITA (MSEK) 44.3% 43.5% -47 -15 Q4 '23/24 Q4 '24/25 68.4% 976 1,044 Q4 '23/24 Q4 '24/25 7.0% 2,268 2,553 Q4 '23/24 Q4 '24/25 12.6% 40.9% 43.0%
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Confidential Rusta FY 2024/25 Increased net sales Strengthened EBITA growthContinued gross profit growth Increased sales and strengthened EBITA growth Net sales (MSEK) Gross profit (MSEK) & gross margin (%) EBITA (MSEK) 44.3% 43.5% 761 853 YTD '23/24 YTD '24/25 12.2% 4,833 5,095 YTD '23/24 YTD '24/25 5.4% 11,116 11,828 YTD '23/24 YTD '24/25 6.4% 43.1% 43.5%
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Confidential Rusta Q4 2024/25 Strong net sales growth in all segments Strengthened profitability in all segments Q4’ 24/25 vs. Q4 '23/24 EBITA excl. IFRS 16 margin in Q4 Other markets in the lead of accelerated growth 13.7% 3.6% -6.7% +3.7pp +0.6pp +4.2pp online 13.8% 14.5% 16.5% Net sales growth excl. currency effects online
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Confidential Rusta FY 2024/25 Continued net sales growth in all segments Increased profit in all segments FY’ 24/25 vs. FY '23/24 EBITA excl. IFRS 16 margin in FY 24/25 All segments profitable and growing 7.6% 9.7% 3.9% Net sales growth excl. currency effects online 18.0% 11.1% 1.2% online +1.2pp -0.5pp +0.8pp
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Confidential EBITA and EBITA%, FY 2024/25 Rusta FY 2024/25 Increased profit due to higher sales and lower OPEX Profitability drivers in Q4 1. Positive sales mix 2. Successful campaigns 3. Lower OPEX% 4. Negative sea freight vs LY Profitability drivers in FY 24/25 1. Sales and volume growth 2. Improved purchase prices 3. Lower OPEX% 4. Negative currency effects Notes: 1) Including Other operating income and expenses, Depreciations and amortization of intangible assets and property plan and equipment. 1) 6.8% 7.2% 761 853 FY '23/24 Sales COGS OPEX Other FY '24/25
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Confidential Rusta Q4 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 -130 74 Q4 '23/24 Q4 '24/25 % LTM sales -0.17x 0.09x 1,222 1,411 Q4 '23/24 Q4 '24/25 % LTM sales 11% 12%
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Internal Financial targets On track to deliver on our financial targets Net sales growth • Rusta targets an annual average organic1) net sales growth around eight percent in the medium term • Annual average LFL growth above three percent Profitability • Rusta targets an EBITA margin of around eight percent in the medium term • Earnings per share to outgrow net sales and EBITA as a result of scalability in the business model2) Dividend policy • Rusta aims to distribute 30-50 percent of net profit for each financial year as dividends, taking into account the company's financial position 1) Excluding acquisitions. 2) Scalability of business model refers to margin increase as a result of organic sales growth and higher efficiency, with revenues increasing faster than costs.
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Internal Board proposes increased dividend • The Board of Directors proposes a dividend of SEK 1.45 (1.15) per share which corresponds to 47% (43%) of net profit for the year • Annual General Meeting 2025 is held 19th of September
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Confidential CEO to leave Rusta • CEO informed the Board of intention to leave his position no later than June 30, 2026 • The Board has initiated the process to appoint his successor Rusta Q4 2024/25 Summary & events after the quarter Current trading • Summer season April + May started better vs. LY • Softer comps second half Q1 vs. last year Positive long-term outlook • Record store pipeline • Positive FX effects • Bonded warehouse implemented • All projects proceeding as per plan
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Confidential Q&A Rusta Q4 2024/25
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Confidential Thank you Next event: Interim report Q1 2025/26 September 11, 2025