129 0 Kommentare Revenue and earnings growth continued as Matas and KICKS joined forces

Company announcement no. 14 2023/24
Allerød, 10 November 2023

Interim report – H1 2023/24

(1 April – 30 September 2023)

Revenue and earnings growth continued as Matas and KICKS joined forces

On 31 August 2023, Matas A/S completed the acquisition of KICKS Group AB ("KICKS"). Jointly, the combined entity will operate the market leading beauty and wellbeing omnichannel retail concept in the Nordics. Through the combination, Matas and KICKS will be able to better serve customer demand for larger assortment, new brands, access to stores, fast, convenient and inspiring online shopping and keep a continued focus on personal and expert advisory and service. Matas and KICKS will serve +5 million club members across the four Nordic markets with almost 500 stores, leading web shops, +3,800 skilled colleagues, and offer a category leading portfolio of third party brands, own brands, and services.

Q2 2023/24 includes KICKS from completion of the acquisition on 31 August 2023, hence one month of financial performance. All numbers for Q2 2023/24 reflect the combined business, Matas Group, unless stated otherwise.
Matas grew 8% organically in Q2. Total revenue for Matas Group amounted to DKK 1,285 million in Q2 2023/24, corresponding to a year-on-year increase of 29.9% from DKK 989 million in Q2 2022/23.
Gross margin was 44.5% in the quarter, in line with expectations and 0.3 percentage points below last year.
EBITDA before special items came to DKK 177 million in Q2 2023/24, compared to DKK 160 million last year, and the EBITDA margin before special items was 13.8% in the quarter against 16.2% last year.
Profit for the period amounted to DKK 2 million after tax compared to DKK 47 million last year, impacted by higher interest costs and special items (of DKK 39 million) related to the acquisition of KICKS.
Matas Group maintains its guidance for the financial year 2023/24 to revenue in the range of DKK 6,400-6,600 million. Expectation to EBITDA margin before special items is maintained at around 15%, as well as expectations to CAPEX, excl. M&A, are maintained at DKK 500-525 million. Please see company announcement no. 12 2023/24 for assumptions related to the guidance.