Revenue and earnings growth continued as Matas and KICKS joined forces - Seite 3

Q2 2023/24 highlights

• Matas Group generated a total revenue of 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. Retail sales increased by 30.2%, while organic growth in Matas was 8.0%.
• Online sales grew by 60.9%. Overall, online sales accounted for 29%. Physical stores reported sales up by 20.5% compared to Q2 last year. Organic growth online was 33% in Matas.
• Customer traffic was strong, and the number of transactions increased by 23.6% to 6.6 million, and the average basket size grew by 1.8% to DKK 183 per transaction compared to Q2 last year.
• Gross profit for Q2 2023/24 amounted to DKK 573 million, up from DKK 443 million in Q2 2022/23. The gross margin was 44.5%, down from 44.8% in Q2 2022/23 due to product mix and assortment expansion.
• Other external costs amounted to DKK 152 million in Q2 2023/24, up from DKK 86 million in Q2 2022/23. Other external costs include special items of DKK 27 million in Q2 2023/24 attributable to the KICKS transaction.
• Q2 2023/24 staff costs amounted to DKK 282 million, up by DKK 86 million from DKK 197 million in Q2 2022/23. Staff costs include special items of DKK 12 million in Q2 2023/24 attributable to KICKS.
• EBITDA before special items came to DKK 177 million, up from DKK 160 million in Q2 2022/23, resulting in an EBITDA margin before special items of 13.8% in Q2 2023/24.
• Total amortisation, depreciation and impairment charges were up by DKK 26 million to DKK 113 million in Q2 2023/24, whereof DKK 21 million derives from KICKS.
• Profit for the period amounted to DKK 2 million after tax against DKK 47 million in Q2 2022/23, impacted by the higher interest costs and special items of DKK 39 million related to the acquisition of KICKS.
• Free cash flow was an outflow of DKK 779 million in Q2 2023/24 compared with an inflow of DKK 60 million in Q2 2022/23, primarily driven by the acquisition of KICKS of DKK 692 million, with net impact of DKK 617 million after deducting KICKS’ own cash at the time of the acquisition of DKK 75 million.

H1 2023/24 highlights

• Matas Group generated a total revenue of DKK 2,435 million in H1 2023/24 corresponding to a year-on-year increase of 19.2% from DKK 2,043 million in H1 2022/23. Retail sales increased by 19.2%, while organic growth in Matas was 8.6%.
• Online sales grew by 42.6%. Overall, online sales accounted for 29%. Physical stores reported sales up by 11.6% compared to H1 last year. Organic growth online was 29% in Matas.
• Customer traffic was strong, and the number of transactions increased by 15.6% to 12.6 million, and the average basket size grew by 1.1% to DKK 185 per transaction.
• Gross profit for H1 2023/24 amounted to DKK 1,079 million, up from DKK 909 million in H1 2022/23. The gross margin was 44.3%, down from 44.5% in H1 2022/23 due to product mix and assortment expansion.
• Other external costs amounted to DKK 264 million in H1 2023/24, up from DKK 164 million in H1 2022/23. Excluding special items, other external costs increased by DKK 56 million compared to H1 2022/23, driven by the inclusion of KICKS and continued investment in assortment expansion.
• Staff costs amounted to DKK 497 million in H1 2023/24, up from DKK 398 million in H1 2022/23.
• EBITDA before special items came to DKK 378 million, up from DKK 352 million in H1 2022/23, resulting in an EBITDA margin before special items of 15.5% in H1 2023/24.
• Total amortisation, depreciation and impairment charges were up by DKK 28 million to DKK 204 million in H1 2023/24, whereof DKK 21 million derives from KICKS.
• Profit for the period amounted to DKK 51 million after tax against DKK 116 million in H1 2022/23, impacted by the higher interest costs and special items (DKK 60 million) related to the acquisition and integration of KICKS.
• Free cash flow was an outflow of DKK 578 million in H1 2023/24, compared with an inflow of DKK 159 million in H1 2022/23, primarily driven by the acquisition of KICKS of DKK 692 million, with net impact of DKK 617 million after deducting KICKS’ own cash at the time of the acquisition of DKK 75 million.

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