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Q4: Increased sales and continued strengthened gross margin

Rusta increased sales and strengthened profitability slightly in the fourth quarter of 2023/24 compared to the same period last year. Rusta has continued its efforts to strengthen its gross margin, which has increased both in the quarter and for the full year. The fourth quarter was negatively impacted by operational disruptions as a result of the IT incident at Rusta's hosting provider Tietoevry, with a total sales loss of approximately MSEK 61 million with a negative EBITA effect of approximately MSEK 48 million. Sales were negatively impacted by an unusually cold April, which delayed the start of the summer season. Sales of the summer assortment had a good start in May, after the end of the financial year. Rusta's expansion continues and during the quarter four new stores were opened. The Board of Directors proposes a dividend of SEK 1.15 (0.69) per share.

Summary of the fourth quarter 2023/2024:

  • Net sales increased by 2.9% (8.4%) and amounted to MSEK 2,268 (2,204)
  • LFL growth decreased by -1.2% (4.4%)
  • Gross profit increased by 8.0% and amounted to MSEK 976 (903) and the gross margin was 43.0% (41.0%)
  • EBITA amounted to -47 MSEK (-52) and the EBITA-margin was -2.1% (-2.3%)
  • Operating profit (EBIT) amounted to MSEK -49 (-57) and the operating profit margin was -2.2% (-2.6%)
  • Net profit for the quarter amounted to MSEK -92 (-98)
  • Cash flow from operating activities amounted to MSEK 37 (240)
  • Four (six) new stores opened during the quarter
  • Sales and profits in the fourth quarter continued to be negatively affected by the IT incident at Tietoevry on January 20

Summary of the period May 2023 – April 2024:

  • Net sales increased by 9.0% (7.5%) and amounted to MSEK 11,116 (10,202)
  • LFL growth increased by 4.6% (2.5%)
  • Gross profit increased by 15.4% and amounted to MSEK 4,833 (4,187) and the gross margin was 43.5% (41.0%)
  • EBITA amounted to MSEK 761 (529) and the EBITA-margin was 6.8% (5.2%)
  • Operating profit (EBIT) amounted to MSEK 753 (518) and the operating profit margin was 6.8% (5.1%)
  • Net profit YTD amounted to MSEK 408 (261)
  • Cash flow from operating activities amounted to MSEK 1,396 (1,007)
  • Eleven (fourteen) new stores opened during the period
  • From January 20 to February 12, Rusta was affected by an IT incident at the hosting provider Tietoevry
  • The Board of Directors proposes a dividend of SEK 1.15 (SEK 0.69) per share

Göran Westerberg, CEO of Rusta, comments on the quarter and the full year:
“We conclude a successful year for Rusta with growth, strengthened profitability and continued expansion with 11 new stores. During the year, we welcomed 850,000 new members to our loyalty club, and we also received a warm welcome as a publicly listed company. Despite an extensive IT incident and an unusually cold and late spring, we still delivered sales growth and slightly strengthened profitability in our fourth and smallest quarter. For the full year we noted in particular that the segment Other Markets turned to profitability. Looking ahead, we see that the summer weather in May has boosted sales in our important first quarter. I look forward to continuing to strengthen Rusta's position as a leading player in the Nordic variety hard discount market and would like to extend a big thank you to Rusta's employees who have done a fantastic job during the year.”

Presentation of the report
Rusta presents the interim report for the fourth quarter of 2023/2024 via webcast and teleconference today, Thursday June 13, at 9:00 am CEST. The report will be presented by Göran Westerberg, CEO of Rusta, and 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 AB (publ) is a leading retailer in the Nordic low-price market with over 210 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).