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Regulatory MAR

Q3: Successful Christmas sales resulted in increased profitability and strong cash flow

Rusta increased sales in all segments and improved gross margin and profit during the third quarter, November to January. Net sales increased by 7.0 percent (8.8) compared to the same quarter last year and amounted to MSEK 3,247 (3,036). Adjusted EBITA amounted to MSEK 372, an increase of 22.6 percent compared to the same quarter last year. On January 20, Rusta was affected by an IT incident at the hosting provider Tietoevry, which in January caused total lost sales of MSEK 60 with a negative EBITA effect of MSEK 25 in the third quarter.

Summary of the third quarter 2023/2024:

  • Net sales increased by 7.0% (8.8%) and amounted to MSEK 3,247 (3,036)
  • LFL growth increased by 2.5% (3.7%)
  • Excluding the estimated lost sales as a result of the disruptions in Rusta’s IT systems, the net sales growth would had amounted to 8.9% and the LFL growth to 4.4%
  • Gross profit increased by 14.2% and amounted to MSEK 1,440 (1,261) and the gross margin was 44.3% (41.5%)
  • EBITA amounted to 369 MSEK (294) and the EBITA-margin was 11.4% (9.7%). EBITA includes the effects of the IT incident.
  • Operating profit (EBIT) amounted to MSEK 367 (292) and the operating profit margin was 11.3% (9.6%)
  • Net profit for the quarter amounted to MSEK 243 (200)
  • Cash flow for the quarter amounted to MSEK 321 (-13)
  • Three (two) new stores opened during the quarter
  • The negative effect in the fourth quarter due to the IT incident is estimated to be on par with the third quarter in terms of sales and its effect on EBITA. In addition, there are costs for system restoration and extraordinary measures of approx. MSEK 20.

Summary of the period May 2023 – January 2024:

  • Net sales increased by 10.6% (7.3%) and amounted to MSEK 8,848 MSEK (7,998)
  • LFL growth increased by 6.2% (2.0%)
  • Gross profit increased by 17.5% and amounted to MSEK 3,858 (3,283) and the gross margin was 43.6% (41.0%)
  • EBITA amounted to MSEK 808 (581) and the EBITA-margin was 9.1% (7.3%)
  • Operating profit (EBIT) amounted to MSEK 802 (575) and the operating profit margin was 9.1% (7.2%)
  • Net profit YTD amounted to MSEK 500 (359)
  • Cash flow for the period amounted to MSEK 238 (-50)
  • Seven (eight) new stores opened during the period

Göran Westerberg, CEO of Rusta, comments on the quarter:

“During the important third quarter of the financial year, sales increased in all segments and Rusta strengthened gross margin, profit, as well as cash flow. We have completed a successful Christmas season where sales started early, and therefore the need for sell-out was lower compared to last year. Despite the quarter ending with a serious IT incident, Rusta had a strong quarter, particularly within the segment Other markets, which has taken another significant step towards profitability during the current financial year.”

Presentation of the report

Rusta presents the interim report for the third quarter 2023/2024 via webcast and telephone conference today, March 14, 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):

Registration to participate via telephone:
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

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).