Musti Group Oyj

Musti Group plc has announced its financial reporting schedule for the financial year 2025. Key dates include the release of the Financial Statements for 2024 on February 11, 2025, and the Financial Statements and various reports on March 14, 2025. Interim reports are scheduled for May 21, July 28, and November 12, 2025. The Annual General Meeting is planned for April 29, 2025, with further details to be announced later. Musti Group is a leading Nordic pet care company operating in Finland, Sweden, and Norway, offering a range of pet products and services. In 2023, the company reported net sales of EUR 426 million, employed 1,643 people, and had 1.5 million loyal customers and 342 stores.

Musti Group plc's Interim Report for the period from 1 October 2023 to 30 September 2024 highlights the company's resilience and growth in customer numbers despite challenges in the Nordic consumer market. The report notes a 1.0% increase in net sales to EUR 111.5 million, largely driven by strong online sales, which grew by 9.6%. However, like-for-like sales growth was negative, and store sales decreased slightly. The gross margin fell to 43.2%, and adjusted EBITDA decreased by 19.8% to EUR 16.5 million. Despite these challenges, Musti is optimistic about long-term market trends and anticipates economic recovery by 2025. The company is focused on growth, with plans to acquire Pet City, expanding its presence in the Baltic region. Musti's Board has withdrawn long-term financial targets and amended the dividend policy to focus on reinvesting profits into growth. A webcast for analysts and media will be held, with CEO David Rönnberg and CFO Robert Berglund presenting the report. Musti Group, a leading Nordic pet care company, operates an omnichannel business model across Finland, Sweden, and Norway, offering a range of pet products and services.

Musti Group plc announced the acquisition of Pet City OÜ from Magnum Group, including its subsidiaries and Pet City Klinika UAB, for an enterprise value of EUR 18.0 million, with the transaction to be settled in cash. The acquisition, expected to be completed by the end of 2024, will expand Musti Group's presence in the Baltic market. Pet City operates 46 retail stores and 16 veterinary clinics across Estonia, Latvia, and Lithuania, along with an e-commerce platform. In FY 2023, Pet City reported a turnover of EUR 31.5 million and an EBITDA of EUR -1.1 million. The company has 472 employees. Musti Group, a leading Nordic pet care company, sees this acquisition as a strategic move for international expansion under the Sonae Group.

Musti Group plc has announced the acquisition of Pet City OÜ from Magnum Group for an enterprise value of EUR 18.0 million, with the transaction expected to be completed by the end of 2024. Pet City operates 46 retail stores and 16 veterinary clinics across the Baltic countries and has an e-commerce platform. In 2023, Pet City had a turnover of EUR 31.5 million and an EBITDA of EUR -1.1 million, employing 472 people. This acquisition marks Musti's first move into the Baltic market as part of its international expansion strategy.

Musti Group plc announced on August 28, 2024, that it has signed a 3+1 year Facilities Agreement with Danske Bank, OP Corporate Bank plc, and Swedbank AB (Publ). The agreement includes a EUR 110 million Term Facility, a EUR 100 million Revolving Credit Facility, and an uncommitted Accordion Facility of EUR 60 million. The funds will be used to refinance existing debt and support long-term strategic goals. The agreement matures in August 2027, with a possible extension to August 2028. Danske Bank coordinated the arrangement, with White & Case LLP and Borenius Attorneys Ltd providing legal advice. CEO David Rönnberg expressed gratitude for the banking group's support and optimism about the company's growth. Musti Group is a leading Nordic pet care company with operations in Finland, Sweden, and Norway, offering a range of pet products and services. In the financial year 2023, the company had net sales of EUR 426 million, 1,643 employees, 1.5 million loyal customers, and 342 stores.