16.8.2023 07.57 • GlobeNewswire •
Company announcement no. 11 2023/24
Allerød, 16 August 2023
Interim report - Q1 2023/24
(1 April - 30 June 2023)
Customer traffic combined with broader assortment drive
revenue and EBITDA growth
* Matas generated a total revenue of DKK 1,150 million in Q1 2023/24 corresponding to a year-on-year increase of 9.2% from DKK 1,054 million in Q1 2022/23.
* Gross margin was 44.0% in the quarter, in line with expectations and last year.
* EBITDA before special items came to DKK 201 million in Q1 2023/24 compared to DKK 192 million last year, and the EBITDA margin before special items was 17.5% in the quarter against 18.2% last year.
* Profit for the period amounted to DKK 49 million after tax compared to DKK 69 million last year, impacted by the higher interest costs and special items relates to the expected acquisition of Kicks Group AB.
* Free cash flow was an inflow of DKK 201 million in Q1 2023/24 compared to an inflow of DKK 99 million in Q1 2022/23.
* As communicated in company announcement no. 10 2023/24 on 15 August, Matas upgrades its financial expectations for the financial year 2023/24, based on the strong revenue development in Q1 2023/24 - as well as current trading. Revenue growth is now expected to be in the range of 4-7% (previously 3-6%). EBITDA margin before special items is expected to be around 17% (unchanged compared to previous guidance). CAPEX, excl. M&A, of DKK 425-450 million incl. DKK 250 million to Matas Logistics Center (unchanged compared to previous guidance).
* The acquisition of Kicks Group is expected to reach closing by end of August 2023.
Gregers Wedell-Wedellsborg, CEO of Matas A/S:
"We are very pleased to see growth across all our channels, with stores growing 3% for the quarter and our online business with even higher momentum delivering 26% growth vs last year.
Our customers continue to shop more frequently with Matas, and supported by our assortment expansion, we see strong growth both within Mass Beauty as well as Health and Wellbeing. We introduced 59 new brands and thousands of products and increased our inventories marginally to ensure faster delivery and convenience for our customers."
Key figures and ratios
#
2023/24 2022/23 Growth
(DKKm) Q1 Q1 (%)
Revenue 1,150.0 1,053.5 9.2
Gross profit 506.1 466.1 8.6
EBITDA before special items 200.9 191.5 5.0
EBIT 88.7 97.6 (9.1)
Profit after tax 49.0 69.1 (29.1)
Free cash flow 200.9 98.6
Underlying like-for-like revenue growth 8.4% 2.9%
Gross margin 44.0% 44.2%
EBITDA margin before special items 17.5% 18.2%
Net interest-bearing debt/EBITDA before special items 1.8 1.9
-----------------------------------------------------------------------------
#
Q1 2023/24
highlights
* Matas generated total revenue of DKK 1,150 million in Q1 2023/24, a year-on-year increase of 9.2% from DKK 1,054 million in Q1 2022/23. Retail sales increased by 8.9% to DKK 1,121 million, while underlying like-for-like sales grew by 8.4%.
* All categories showed strong growth in the quarter with Mass Beauty as well as Health and Wellbeing delivering 10% and 16%, respectively. The Private labels share increased to 18.3 %, vs. 17.4% last year.
* Revenue increased across all sales channels. Growing sales by DKK 68 million, equivalent to 26%, the on-line business accounted for 28% overall and for the majority of the growth for the quarter. Stores continued to grow at 3%.
* Footfall was strong, and the number of transactions increased by 8.0% to 6.0 million.
* The average basket size increased by 0.6% to DKK 188 per transaction.
* Gross profit for Q1 2023/24 amounted to DKK 506 million compared to DKK 466 million in Q1 2022/23.
* The gross margin for Q1 2023/24 was 44.0%, which is in line with last year.
* Other external costs amounted to DKK 111 million in Q1 2023/24 corresponding to an increase of DKK 34 million compared to DKK 78 million in Q1 2022/23 mainly due to variable shipping and marketing cost driven by online growth. Other external costs included special items of DKK 21.1 million in Q1 2023/24 attributable to the preparation of the Kicks Group acquisition. Q1 2022/23 special items amounted to DKK 4.8 million.
* EBITDA before special items came to DKK 201 million and the EBITDA margin before special items was 17.5% against 18.2% in Q1 2022/23.
* The total amortisation, depreciation and impairment charges were up by DKK 2 million to DKK 91 million in Q1 2023/24.
* Profit for the period amounted to DKK 49 million after tax against DKK 69 million in Q1 2022/23 due to higher interest cost and special items.
* The Q1 2023/24 free cash flow was an inflow of DKK 201 million compared to an inflow of DKK 99 million in Q1 2022/23.
Webcast
Matas will host a webcast for investors and analysts on Wednesday, 16 August at 11:00 a.m. CEST. The webcast and the presentation can be accessed from Matas' investor website: https://investor.matas.dk.
Webcast access numbers for investors and analysts:
DK: +45 78 76 84 90
UK: +44 203 769 6819
US: +1 646 787 0157
PIN for all countries: 915912
Link to webcast: https://matas-events.eventcdn.net/events/q1-report-2023
Contacts
Gregers Wedell-Wedellsborg
CEO, phone +45 48 16 55 55
Per Johannesen Madsen
CFO, phone +45 48 16 55 55
Klaus Fridorf
Head of Communication, phone +45 61 20 19 97
Company announcement no. 11 2023/24
Allerød, 16 August 2023
Interim report - Q1 2023/24
(1 April - 30 June 2023)
Customer traffic combined with broader assortment drive
revenue and EBITDA growth
* Matas generated a total revenue of DKK 1,150 million in Q1 2023/24 corresponding to a year-on-year increase of 9.2% from DKK 1,054 million in Q1 2022/23.
* Gross margin was 44.0% in the quarter, in line with expectations and last year.
* EBITDA before special items came to DKK 201 million in Q1 2023/24 compared to DKK 192 million last year, and the EBITDA margin before special items was 17.5% in the quarter against 18.2% last year.
* Profit for the period amounted to DKK 49 million after tax compared to DKK 69 million last year, impacted by the higher interest costs and special items relates to the expected acquisition of Kicks Group AB.
* Free cash flow was an inflow of DKK 201 million in Q1 2023/24 compared to an inflow of DKK 99 million in Q1 2022/23.
* As communicated in company announcement no. 10 2023/24 on 15 August, Matas upgrades its financial expectations for the financial year 2023/24, based on the strong revenue development in Q1 2023/24 - as well as current trading. Revenue growth is now expected to be in the range of 4-7% (previously 3-6%). EBITDA margin before special items is expected to be around 17% (unchanged compared to previous guidance). CAPEX, excl. M&A, of DKK 425-450 million incl. DKK 250 million to Matas Logistics Center (unchanged compared to previous guidance).
* The acquisition of Kicks Group is expected to reach closing by end of August 2023.
Gregers Wedell-Wedellsborg, CEO of Matas A/S:
"We are very pleased to see growth across all our channels, with stores growing 3% for the quarter and our online business with even higher momentum delivering 26% growth vs last year.
Our customers continue to shop more frequently with Matas, and supported by our assortment expansion, we see strong growth both within Mass Beauty as well as Health and Wellbeing. We introduced 59 new brands and thousands of products and increased our inventories marginally to ensure faster delivery and convenience for our customers."
Key figures and ratios
#
2023/24 2022/23 Growth
(DKKm) Q1 Q1 (%)
Revenue 1,150.0 1,053.5 9.2
Gross profit 506.1 466.1 8.6
EBITDA before special items 200.9 191.5 5.0
EBIT 88.7 97.6 (9.1)
Profit after tax 49.0 69.1 (29.1)
Free cash flow 200.9 98.6
Underlying like-for-like revenue growth 8.4% 2.9%
Gross margin 44.0% 44.2%
EBITDA margin before special items 17.5% 18.2%
Net interest-bearing debt/EBITDA before special items 1.8 1.9
-----------------------------------------------------------------------------
#
Q1 2023/24
highlights
* Matas generated total revenue of DKK 1,150 million in Q1 2023/24, a year-on-year increase of 9.2% from DKK 1,054 million in Q1 2022/23. Retail sales increased by 8.9% to DKK 1,121 million, while underlying like-for-like sales grew by 8.4%.
* All categories showed strong growth in the quarter with Mass Beauty as well as Health and Wellbeing delivering 10% and 16%, respectively. The Private labels share increased to 18.3 %, vs. 17.4% last year.
* Revenue increased across all sales channels. Growing sales by DKK 68 million, equivalent to 26%, the on-line business accounted for 28% overall and for the majority of the growth for the quarter. Stores continued to grow at 3%.
* Footfall was strong, and the number of transactions increased by 8.0% to 6.0 million.
* The average basket size increased by 0.6% to DKK 188 per transaction.
* Gross profit for Q1 2023/24 amounted to DKK 506 million compared to DKK 466 million in Q1 2022/23.
* The gross margin for Q1 2023/24 was 44.0%, which is in line with last year.
* Other external costs amounted to DKK 111 million in Q1 2023/24 corresponding to an increase of DKK 34 million compared to DKK 78 million in Q1 2022/23 mainly due to variable shipping and marketing cost driven by online growth. Other external costs included special items of DKK 21.1 million in Q1 2023/24 attributable to the preparation of the Kicks Group acquisition. Q1 2022/23 special items amounted to DKK 4.8 million.
* EBITDA before special items came to DKK 201 million and the EBITDA margin before special items was 17.5% against 18.2% in Q1 2022/23.
* The total amortisation, depreciation and impairment charges were up by DKK 2 million to DKK 91 million in Q1 2023/24.
* Profit for the period amounted to DKK 49 million after tax against DKK 69 million in Q1 2022/23 due to higher interest cost and special items.
* The Q1 2023/24 free cash flow was an inflow of DKK 201 million compared to an inflow of DKK 99 million in Q1 2022/23.
Webcast
Matas will host a webcast for investors and analysts on Wednesday, 16 August at 11:00 a.m. CEST. The webcast and the presentation can be accessed from Matas' investor website: https://investor.matas.dk.
Webcast access numbers for investors and analysts:
DK: +45 78 76 84 90
UK: +44 203 769 6819
US: +1 646 787 0157
PIN for all countries: 915912
Link to webcast: https://matas-events.eventcdn.net/events/q1-report-2023
Contacts
Gregers Wedell-Wedellsborg
CEO, phone +45 48 16 55 55
Per Johannesen Madsen
CFO, phone +45 48 16 55 55
Klaus Fridorf
Head of Communication, phone +45 61 20 19 97
16/8 2023 10:19 ProInvestorNEWS 1
114737 Matas kommer gennem første kvartal både med fremgang i beauty-kædens onlineshop, tusindvis af produkter på hylderne og en generel vækst i alle kanaler.
Det fremgår af butikskædens regnskab, der kom ud onsdag morgen.
Matas løftede allerede sløret for omsætningen tirsdag, der endte på 1150 mio kr. mod 1053,5 mio. kr. i samme periode sidste år, hvilket svarer til en vækst på 9,2 pct. Her opjusterede butikskæden også sine forventninger til regnskabsåret til en omsætningsvækst på 4-7 pct. fra 3-6 pct.
Matas fastholder den opjusterede vækst i omsætning onsdag, og holder også fast i en ventet EBITDA-margin på omkring 17 pct. som oplyst tirsdag aften.
- Vi er meget tilfredse med at se vækst af alle vores kanaler, hvor butikkerne vokser 3 pct. for kvartalet og vores online forretning med endnu større momentum, der leverer 26 pct. vækst i forhold til sidste år, siger Gregers Wedell-Wedellsborg, administrerende direktør i Matas.
Af regnskabet fremgår det, at butikskædens hjemmeside matas.dk var den næstmest besøgte hjemmeside i Danmark, og at Matas ligger nummer et i Danmark, når det kommer til onlinehandel af helse- og skønhedsprodukter.
Like-for-like væksten for april, maj og juni endte på 8,4 pct. mod 2,9 i samme periode året før.
Resultatet af den primære drift (EBITDA) før særlige poster steg til 200,9 mio. kr. fra 191,5 mio. kr., og EBITDA-marginen før særlige poster endte på 17,5 pct. mod 18,2 pct. i samme periode sidste år.
VÆKST I SORTIMENTET
- Vores kunder handler stadig oftere hos Matas, og understøttet af vores sortimentsudvidelse ser vi stærk vækst både inden for skønhed såvel som sundhed og velvære. Vi introducerede 59 nye mærker og tusindvis af produkter, siger Gregers Wedell-Wedellsborg i regnskabet.
Omsætningen for sundhed og velvære steg med 16 pct. i første kvartal til 313 mio. kr. fra 269,5 mio. kr. i samme periode 2022. Kategorien udgør nu 27,9 pct. af Matas' omsætning.
På bundlinjen endte kvartalet med et overskud på 49 mio. kr. mod 69,1 mio. kr. året forinden.
OPKØB AF SVENSK VIRKSOMHED
I juni opkøbte Matas den svenske beauty-kæde Kicks, der har butikker i Sverige, Norge og Finland, for 700 mio. kr.
Opkøbet fordoblede omsætningen og antallet af butikker for Matas.
- Kicks er lige så digitale som os. Vi er lige store på nettet, hvor vi begge henter omkring en tredjedel af omsætningen. Samlet får vi nu nogle større muskler, der kan være en fordel for kunderne. Det er både digitalt - men også med flere brands til kunderne, sagde Gregers Wedell-Wedellsborg, administrerende direktør i Matas, til MarketWire i juni efter opkøbet.
Matas-aktien stiger 1,7 pct. til 100,20 kr. efter regnskabet.
Tabel for Matas ' regnskab for første kvartal af 2023/24:
Mio. kr.
Q1 2023/24
Q1 2022/23
FY 2022/23
Omsætning
1150,0
1053,5
4489,6
Like for like-vækst (%)
8,4
2,9
3,1
Bruttoresultat
506,1
466,1
2014,4
EBITDA før særlige poster
200,9
191,5
809
EBITDA-margin før særlige poster (%)
17,5
18,2
18
EBIT
88,7
97,6
423,1
Nettoresultat
49,0
69,1
280,7
Forventninger til regnskabsåret 2023/24:
I pct.
Ved Q1 2023/24
Ved Q4 2022/23
Samlet omsætningsvækst
4-7
3-6
EBITDA-margin før særlige poster Omkring 17
Omkring 17
.\˙ MarketWire
Det fremgår af butikskædens regnskab, der kom ud onsdag morgen.
Matas løftede allerede sløret for omsætningen tirsdag, der endte på 1150 mio kr. mod 1053,5 mio. kr. i samme periode sidste år, hvilket svarer til en vækst på 9,2 pct. Her opjusterede butikskæden også sine forventninger til regnskabsåret til en omsætningsvækst på 4-7 pct. fra 3-6 pct.
Matas fastholder den opjusterede vækst i omsætning onsdag, og holder også fast i en ventet EBITDA-margin på omkring 17 pct. som oplyst tirsdag aften.
- Vi er meget tilfredse med at se vækst af alle vores kanaler, hvor butikkerne vokser 3 pct. for kvartalet og vores online forretning med endnu større momentum, der leverer 26 pct. vækst i forhold til sidste år, siger Gregers Wedell-Wedellsborg, administrerende direktør i Matas.
Af regnskabet fremgår det, at butikskædens hjemmeside matas.dk var den næstmest besøgte hjemmeside i Danmark, og at Matas ligger nummer et i Danmark, når det kommer til onlinehandel af helse- og skønhedsprodukter.
Like-for-like væksten for april, maj og juni endte på 8,4 pct. mod 2,9 i samme periode året før.
Resultatet af den primære drift (EBITDA) før særlige poster steg til 200,9 mio. kr. fra 191,5 mio. kr., og EBITDA-marginen før særlige poster endte på 17,5 pct. mod 18,2 pct. i samme periode sidste år.
VÆKST I SORTIMENTET
- Vores kunder handler stadig oftere hos Matas, og understøttet af vores sortimentsudvidelse ser vi stærk vækst både inden for skønhed såvel som sundhed og velvære. Vi introducerede 59 nye mærker og tusindvis af produkter, siger Gregers Wedell-Wedellsborg i regnskabet.
Omsætningen for sundhed og velvære steg med 16 pct. i første kvartal til 313 mio. kr. fra 269,5 mio. kr. i samme periode 2022. Kategorien udgør nu 27,9 pct. af Matas' omsætning.
På bundlinjen endte kvartalet med et overskud på 49 mio. kr. mod 69,1 mio. kr. året forinden.
OPKØB AF SVENSK VIRKSOMHED
I juni opkøbte Matas den svenske beauty-kæde Kicks, der har butikker i Sverige, Norge og Finland, for 700 mio. kr.
Opkøbet fordoblede omsætningen og antallet af butikker for Matas.
- Kicks er lige så digitale som os. Vi er lige store på nettet, hvor vi begge henter omkring en tredjedel af omsætningen. Samlet får vi nu nogle større muskler, der kan være en fordel for kunderne. Det er både digitalt - men også med flere brands til kunderne, sagde Gregers Wedell-Wedellsborg, administrerende direktør i Matas, til MarketWire i juni efter opkøbet.
Matas-aktien stiger 1,7 pct. til 100,20 kr. efter regnskabet.
Tabel for Matas ' regnskab for første kvartal af 2023/24:
Mio. kr.
Q1 2023/24
Q1 2022/23
FY 2022/23
Omsætning
1150,0
1053,5
4489,6
Like for like-vækst (%)
8,4
2,9
3,1
Bruttoresultat
506,1
466,1
2014,4
EBITDA før særlige poster
200,9
191,5
809
EBITDA-margin før særlige poster (%)
17,5
18,2
18
EBIT
88,7
97,6
423,1
Nettoresultat
49,0
69,1
280,7
Forventninger til regnskabsåret 2023/24:
I pct.
Ved Q1 2023/24
Ved Q4 2022/23
Samlet omsætningsvækst
4-7
3-6
EBITDA-margin før særlige poster Omkring 17
Omkring 17
.\˙ MarketWire
