Q1 2025 Matas A/S Earnings Call Transcript
Key Points
- Matas AS (OCSE:MATAS) reported a 6.2% overall growth for the group, with Matas itself achieving 8% growth.
- The company maintained a strong EBITDA margin of 15% before special items, up from 14.7% last year.
- Significant progress was made in the integration of KICKS, leading to improved profitability despite a decline in revenues.
- The launch of the Beauty Pharmacy category in KICKS was successful, indicating potential for future growth.
- High growth rates were observed in the e-commerce market, with KICKS online achieving around 20% growth.
- The Skincity business, part of the KICKS acquisition, continued to experience a decline in revenues and was loss-making.
- The ramp-up of the KICKS warehouse led to stock-out situations, affecting growth in the first half of the quarter.
- Supply chain transformation costs were higher than expected, impacting overall expenses.
- Inventory levels increased, partly due to timing and deliveries, affecting working capital.
- The Norwegian market remains highly competitive, posing challenges for growth and market share expansion.
Welcome to Matas Group's financial report for Q1 2024, '25. Today's call is being recorded. (Operator Instructions) Speakers, please begin.
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Thank you, operator, and welcome, everyone, to the call covering the first quarter of our financial year. I'm presenting with my colleague, Per Madsen, our CFO. And it is a good start to the year, but it is also a good start to the strategy we announced on our Capital Markets Day at the end of May. So a good start to the year.
I will give my comments to the underlying developments in the quarter, what we are seeing in the business and in the market. Per will cover the financial results, and we will open up for Q&A near the end. So overall, a good start to the year, in line with our guidance, with our plans. We saw a 6.2% growth overall for the group. 15% EBITDA margin before special items, up from 14.7% of last year pro forma.
The growth was
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