Rusta increased sales across all markets during the second quarter, August to October. Net sales amounted to MSEK 2,642 for the quarter, a 14.4 percent increase compared to the same quarter last year. Furthermore, results improved significantly and adjusted EBITA amounted to MSEK 150, a 119.1 percent increase compared to the same quarter last year. Rusta’s low prices and marketing campaigns continue to drive customer traffic to the stores.
Summary of the second quarter 2023/2024:
- Net sales increased by 14.4% (10.4%) and amounted to MSEK 2,642 (2,309)
- LFL growth increased by 10.8% (5.7%)
- Gross profit increased by 22.5% and amounted to MSEK 1,153 (942) and the gross margin was 43.6% (40.8%)
- EBITA amounted to 141 MSEK (66) and the EBITA-margin was 5.3% (2.9%)
- Operating profit (EBIT) amounted to MSEK 139 (64) and the operating profit margin was 5.2% (2.8%)
- Net profit for the quarter amounted to MSEK 69 (14)
- There were three (four) new stores opened during the quarter
Summary of the period May-October:
- Net sales increased by 12.9% (6.3%) and amounted to MSEK 5,601 MSEK (4,962)
- LFL growth increased by 8.5% (1.0%)
- Gross profit increased by 19.6% and amounted to MSEK 2,418 (2,022) and the gross margin was 43.2% (40.8%)
- EBITA amounted to MSEK 439 (287) and the EBITA-margin was 7.8% (5.8%)
- Operating profit (EBIT) amounted to MSEK 435 (283) and the operating profit margin was 7.8% (5.7%)
- Net profit YTD amounted to MSEK 258 (159)
- There were four (six) new stores opened during the period
Göran Westerberg, CEO of Rusta, comments on the quarter:
“Rusta strengthens its position as a leader in the Nordic low-price market. The growth accelerates in the quarter and is the result of a clear low-price position on a wide range of items that customers prioritize.”
Presentation of the report
Rusta presents the interim report for the second quarter 2023/2024 via webcast and telephone conference today, December 20, at 9:00 am CET. Göran Westerberg, CEO of Rusta, presents the report together with CFO Sofie Malmunger. The presentation will be held in English.
Link to webcast participation (no advance notification is necessary): https://ir.financialhearings.com/rusta-q2-2023/register
Registration to participate via telephone: https://conference.financialhearings.com/teleconference/?id=5005910
After registration you will be provided a phone number and a conference ID to access the conference. You can ask questions verbally via the teleconference.
For further information, please contact:
Cecilia Gärdestad, Corporate PR and Investor Relations
Phone: +46 (0)70 166 48 73
E-mail: cecilia.gardestad@rusta.com
investors.rusta.com
About Rusta
Rusta is a leading retailer in the Nordic low-price market with over 200 stores in Sweden, Norway, Finland and Germany. The physical stores are supplemented by Rusta’s online sales channel, Rusta Online, in Sweden and Finland. Rusta offers a wide but carefully selected range of home and leisure products, with good quality at low prices. Rusta has more than 4,000 employees with headquarter in Upplands Väsby, Sweden. Rusta’s shares are traded on Nasdaq Stockholm (RUSTA). investors.rusta.com