Musti Group’s Annual Report for the financial year 2024 has been published
Musti Group plc Stock Exchange Release 14 March 2025 at 9:00 a.m.
Musti Group’s Annual Report for the financial year 2024 has been published
Musti Group has today published its Annual Report for October 2023 – December 2024 in Finnish and in English. The report comprises Musti Group's Financial Statements, the Board of Directors’ Report, Corporate Governance Statement and Remuneration Report for the financial year 2024.
The Financial Statements section comprises the Consolidated Financial Statements, the Parent Company's Financial Statements, and the Auditor's Report. The Corporate Governance Statement contains a description of Musti Group's governance and the Remuneration Report information on remuneration.
The Financial Statements are published in accordance with the European Single Electronic Format (ESEF) reporting requirements. The format is Extensible Hypertext Markup Language (XHTML), and the consolidated financial statements have been labelled with XBRL tags. The Annual Report is attached to this release as a PDF file and the Financial Statements as an XHTML file.
In connection with the audit, the consolidated statement of financial position was partially changed compared to the one published in the financial statements release on 11 February 2025. The Group's deferred tax assets, income tax liabilities and total assets changed. The Group's equity ratio increased from 37.6% to 37.7%. The changed consolidated statement of financial position can be seen in full at the end of this release.
Together with the Annual Report, Musti Group has today also published Sustainability Review for the financial year 2024.
All the reports are available at https://www.mustigroup.com/investors/reports-and-presentations/.
Robert Berglund
CFO
tel. +358 50 534 8657, robert.berglund@mustigroup.com
Distribution:
Nasdaq Helsinki
Principal 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 with an increasing footprint in the Baltic countries. Our omnichannel business model caters the needs of pets and their owners across Finland, Sweden, Norway and the Baltics. 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 444 million during the past 12 months (calendar year 2024). At the end of year 2024, the company had over 2,000 employees, 1.9 million customers and 415 stores.
Consolidated statement of financial position published on 11 February 2025 and the final version:
|
Consolidated statement of financial position, IFRS |
Previously published version |
Final version |
|
EUR thousand |
31 Dec 2024 |
31 Dec 2024 |
|
|
|
|
|
ASSETS |
|
|
|
Non-current assets |
|
|
|
Goodwill |
195,157 |
195,157 |
|
Other intangible assets |
20,229 |
20,229 |
|
Right-of-use assets |
90,529 |
90,529 |
|
Property, plant and equipment |
32,400 |
32,400 |
|
Investments in associates |
1,967 |
1,967 |
|
Deferred tax assets |
6,387 |
4,697 |
|
Other non-current receivables |
240 |
240 |
|
Total non-current assets |
346,910 |
345,220 |
|
|
|
|
|
Current assets |
|
|
|
Inventories |
66,455 |
66,455 |
|
Trade and other receivables |
14,705 |
14,705 |
|
Derivative financial instruments |
1,076 |
1,076 |
|
Income tax receivables |
4,028 |
4,028 |
|
Cash and cash equivalents |
11,829 |
11,829 |
|
Total current assets |
98,092 |
98,092 |
|
|
|
|
|
TOTAL ASSETS |
445,002 |
443,312 |
|
|
|
|
|
EQUITY AND LIABILITIES |
|
|
|
Equity attributable to owners of the parent |
|
|
|
Share capital |
11,002 |
11,002 |
|
Other reserves |
123,349 |
123,349 |
|
Own shares |
-5,340 |
-5,340 |
|
Translation differences |
-10,524 |
-10,524 |
|
Retained earnings |
48,328 |
48,328 |
|
Total equity attributable to owners of the parent |
166,815 |
166,815 |
|
Equity attributable to non-controlling interest |
94 |
94 |
|
Total equity |
166,909 |
166,909 |
|
|
|
|
|
LIABILITIES |
|
|
|
Non-current liabilities |
|
|
|
Loans from credit institutions |
94,668 |
94,668 |
|
Lease liability |
66,889 |
66,889 |
|
Deferred tax liabilities |
6,444 |
6,444 |
|
Derivative financial instruments |
240 |
240 |
|
Non-current interest-free liabilities |
2,215 |
2,215 |
|
Other non-current liabilities |
15 |
15 |
|
Total non-current liabilities |
170,472 |
170,472 |
|
|
|
|
|
Current liabilities |
|
|
|
Commercial papers |
7,458 |
7,458 |
|
Lease liability |
28,706 |
28,706 |
|
Trade and other payables |
68,153 |
68,153 |
|
Derivative financial instruments |
233 |
233 |
|
Income tax liabilities |
3,071 |
1,381 |
|
Total current liabilities |
107,621 |
105,931 |
|
|
|
|
|
Total liabilities |
278,093 |
276,403 |
|
|
|
|
|
TOTAL EQUITY AND LIABILITIES |
445,002 |
443,312 |
