Slides
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Confidential Rusta Q1 2026/27 Cathrine Wigzell, CEO | Sofie Malmunger, CFO 9 September 2026
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Confidential Agenda 1. Business update 2. Financial performance 3. Outlook 4. Q&A
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Confidential Business update Rusta Q1 2026/27
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Confidential Rusta Q1 2026/27 Highlights in summary – Q1 Sales growth and improved profitability across all segments More customers, higher conversion, increased sales per customer Five new stores in the quarter Store concept renewal continues to support like-for-like growth Continued positive development of the gross margin, driven mainly by assortment renewal and positive FX effects Tuning has started of the automation project at our central warehouse - capacity increases step by step as the system is calibrated
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Confidential 9.9% Rusta Q1 2026/27 Profitable growth in all segments Sales increase in all segments, with Other markets in the lead Increased gross margin with +1.7 p.p. to 44.3% FX tailwind supporting gross margin, in line with previous guidance EBITA of MSEK 330 (280) up 17.6% Strong growth in Cash flow from Operating activities, increasing by 60.7% to MSEK 758 (472) Q1 ’26/27 vs. ’25/261) Net sales growth in Q1 2.2% Q1 ’26/27 vs. ’25/26 LFL2) growth excl. currency effects in Q1 44.3% Q1 ’26/27 Gross margin in Q1 9.5% Q1 ’26/27 EBITA margin in Q1 Notes: 1) Q1 May to July 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 Signed / approved locations1) 40 Planned openings FY 26/27 – 28/29 65-80 2481) stores in Sweden, Norway, Finland and Germany 16 15 6 3 Norway 57 +2 Sweden 129 +1 Finland 52 +2 Germany 10 1) As of September 9th, 2026 Multi-geography presence Continued store expansion
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Confidential Phase 1 of the updated store concept launched fall 2025 Supporting sales growth in line with our expectations of 1.5-2.0 p.p. following implementation Health & Beauty roll-out planned for September Rusta Q1 2026/27 Growing sales in our stores supported by our store concept renewal
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Confidential Financial performance Rusta Q1 2026/27
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Confidential Rusta Q1 2026/27 Steady growth in net sales Growth in EBITAContinued margin expansion Sales growth and continued margin increase in Q1 Net sales (MSEK) Gross profit (MSEK) & gross margin (%) EBITA (MSEK) 40.9% 44.8%42.3% 1,350 1,546 Q1 '25/26 Q1 '26/27 14.5% 3,174 3,489 Q1 '25/26 Q1 '26/27 9.9% 280 330 Q1 '25/26 Q1 '26/27 17.6%
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Confidential 21.4% 13.7% 6.2% online 6.6% 7.0% 13.2% online Rusta Q1 2026/27 Net sales growth across all segments EBITA margin expansion in all segments Q1’ 26/27 vs. Q1 ‘25/26 EBITA excl. IFRS 16 margin in Q1 Profitable growth in all segments LFL growth excl. currency effects +2.4% +3.2% +0.7% EBITA excl. IFRS 16 margin increase +2.4pp. +1.8pp. +2.5pp.
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Confidential EBITA%, Q1 2026/27 Rusta Q1 2026/27 Gross margin expansion drives profitability Profitability drivers in Q1 2026/27 • Positive sales KPI’s across the board • Gross margin increase due to successful range renewal and positive FX • Good cost control despite many newly opened stores • Negative FX revaluations in the balance sheet vs LY and increased depreciation explains “Other” in the chart Notes: 1) Includes Other operating income and expenses, Depreciations and amortization of intangible assets and property plan and equipment. 1) 8.8% 9.5% Q1 '25/26 Sales COGS OPEX Other Q1 '26/27
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Confidential x LTM EBITDA excl. IFRS 16% LTM sales Rusta Q1 2026/27 Lower capital stable Net cash position of 587 MSEK (excl. IFRS 16) Net working capital (MSEK) Net debt excl. IFRS 16 (MSEK) Further strengthened cashflow and balance sheet Strong cash flow from operating activities Cashflow from operating activities (MSEK) 1,423 1,243 Q1 '25/26 Q1 '26/27 12% 10% -123 -587 Q1 '25/26 Q1 '26/27 -0.16x -0.57x 472 758 Q1 '25/26 Q1 '26/27 60.7%
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Confidential Financial targets Positioned 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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Confidential Rusta Q1 2026/27 • Continued expansion - strategy unchanged • 14 new stores in pipeline for the fall • Roll-out of updated store concept – Health & Beauty • Stable sales development in August • Continued geopolitical uncertainty – higher freight costs and costs of goods by the end of Q2, expected to be mitigated by currency tailwind • Rusta celebrates 40 years with strong customer offers Outlook
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Confidential Q&A Rusta Q1 2026/27
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Confidential Thank you Next event: Annual General Meeting September 18, 2026 Interim report Q2 2026/27 December 8, 2026