Musti Group to update its long-term financial targets
Musti Group plc Stock Exchange Release 4 May 2021 at 8.15 a.m.
Musti Group to update its long-term financial targets
Musti Group’s Board of Directors has decided to update the company’s long-term financial targets. The updated long-term financial targets are:
- Net sales to reach at least EUR 500 million by the financial year 2024 by continuation of strong customer acquisition momentum and increasing share of wallet.
- Mid- to long-term adjusted EBITA margin of at least 13 per cent with steadily improving profile. Margin increase is expected to be realized through steady gross margin and improving operating leverage.
- Maintain net debt in relation to adjusted EBITDA below 2.5x in the long term.
- To pay a dividend corresponding to 60-80 per cent of net profit. Any potential dividend shall take into account acquisitions, the company’s financial position, cash flow and future growth opportunities.
CEO David Rönnberg: ‘We are well on track and committed on delivering on our plan and the updated long-term financial targets. We continue to focus on our priorities: growing profitably, winning new customers, and systematically growing the share of wallet with our customers, supported by the expanding selection of products and services in our continuously developing Musti Group ecosystem. In doing so, we will strengthen our position as the market leader as we move towards time after the pandemic – and beyond. We look forward to a future marked by ongoing innovation, winning customer hearts and minds and growing market share.’
Musti Group will arrange a live webcast for analysts and media today at 2pm EEST following the release of the Half-Year Financial Report. Participants will have an opportunity to discuss the new long-term financial targets with CEO David Rönnberg and CFO Robert Berglund. The webcast can be followed at https://mustigroup.videosync.fi/2021-q2-results.
Additional information:
David Rönnberg
CEO, Musti Group
tel. +46 70 896 6552
Distribution:
Nasdaq Helsinki
Main media
www.mustigroup.com
Musti Group in brief
Musti makes the life of pets and their owners easier, safer and more fun. We are the leading Nordic pet care company and we operate an omnichannel business model to cater for the needs of pets and their owners across Finland, Sweden and Norway. We offer a wide, curated assortment of pet products. We also provide pet care services such as grooming, training and veterinary services in selected locations.
Musti Group’s net sales were EUR 284 million in the financial year 2020. At the end of the financial year 2020, the company had 1,162 employees, over one million loyal customers and 293 stores.
