Interim report - 9M 2022/23
8.2.2023 07.58 • GlobeNewswire •
Company announcement no. 13 2022/23
Allerød, 8 February 2023
Interim report -
9M
202
2
/2
3
(1 April - 3
1 December
202
2
)
Profitability improved and free cash flow doubled
* Driven by a record high number of customers, Matas generated a total revenue of DKK 1,396 million in Q3 2022/23 corresponding to a year-on-year increase of 1.3% from DKK 1,378 million in Q3 2021/22. Underlying sales grew 1.2% in the quarter.
* Gross margin was 44.5% in the quarter which is in line with the long-term trend.
* EBITDA before special items came to DKK 296 million in Q3 2022/23 compared to DKK 284 million last year, and the EBITDA margin before special items was 21.2% in the quarter against 20.6% last year.
* Profit for the period amounted to DKK 147 million after tax which is in line with Q3 2021/22.
* Customer satisfaction maintained the high level reached in Q2 with a Net Promotor Score of 75 on matas.dk and 73 in stores.
* Matas.dk strengthened its position as the second most frequently used web shop across all retail categories according to the Danish Chamber of Commerce's E-commerce Analysis for 2022.
* On 31 January 2023, Matas launched its web shops matas.no and matas.se.
* A tender for Matas Logistics Center was sent out on 1 February 2023.
* Matas maintains its guidance for the financial year 2022/23, but now expects to reach the upper end of the guided range for EBITDA margin before special items between 17% and 18%.
Gregers Wedell-Wedellsborg, CEO of Matas A/S:
"The Christmas season was bright and shining in Matas. We served a record number of
customers, maintained our high customer satisfaction, and
finished the quarter with 16% growth in online sales.
The numbers confirm our growth strategy even in a
challenging retail environment.
Profitability improved, despite rising facility costs, as a result of growth from our house
brands and our pick-in-store initiative, which ensures delivery to customers
within one hour and lowers fulfilment
costs.
On the back of good Q3 results, w
e expect to reach the
uppe
r
end of our guided EBITDA margin before special items
for the financial year 2022/23
.
To gain foothold in international markets, we have
now opened our award
-
winning
web shop in Sweden and Norway. Thereby, we give access to our unique beauty
and wellbeing assortment to
both Swedish and Norwegian
consumers, 20% of whom already
know Matas from visits and holidays in Denmark."
Key f
igures and ratios
#
2022/23 Q3 2021/22 Q3 2022/23 9M 2021/22 9M
Key figures (DKKm)
Revenue 1,396.2 1,378.4 3,438.9 3,373.6
Gross profit 620.9 613.7 1,529.9 1,497.7
EBITDA before special items 295.9 283.5 647.4 634.8
Profit for the period after tax 147.3 146.7 263.1 237.2
Free cash flow 382.4 186.1 541.2 266.8
Ratios
Revenue growth 1.3% 5.0% 1.9% 5.7%
Underlying like-for-like revenue growth 1.2% 2.8% 1.8% 3.4%
Gross margin 44.5% 44.5% 44.5% 44.4%
EBITDA margin before special items 21.2% 20.6% 18.8% 18.8%
Net interest-bearing debt/ EBITDA before special items 1.5 2.1
---------------------------------------------------------------------------------------------------
#
Q
3
202
2
/2
3
highlights
* Matas generated a total revenue of DKK 1,396 million in Q3 2022/23 corresponding to a year-on-year increase of 1.3% from DKK 1,378 million in Q3 2021/22 (1.2% revenue increase announced in the trading update). Underlying sales increased by 1.2%.
* Online sales grew by 15.5% and physical stores reported sales down by 3.4% compared to Q3 last year.
* Footfall was strong, and the number of transactions increased by 2.3% to 6.8 million, while the average basket size fell by 0.8% to DKK 203 per transaction.
* Gross profit for Q3 2022/23 amounted to DKK 621 million, up from DKK 614 million in Q3 2021/22. The gross margin was 44.5%, up from 43.0% in Q3 2021/22, when adjusting for the DKK 20 million from the Club Matas VAT case last year.
* Other external costs amounted to DKK 105 million in Q3 2022/23, up from DKK 98 million in Q3 2021/22. The increase in other external costs by DKK 7 million was primarily driven by an increase in facility and freight costs compared to Q3 2021/22.
* EBITDA before special items came to DKK 296 million resulting in an EBITDA margin before special items of 21.2%.
* The total amortization, depreciation and impairment charges were down by DKK 13 million to DKK 95 million in Q3 2022/23.
* Profit for the period amounted to DKK 147 million after tax which is in line with Q3 2021/22.
* Free cash flow was an inflow of DKK 382 million, compared with an inflow of DKK 186 million the year before.
9M
2022/23 highlights
* Retail revenue was up by 2.0% to DKK 3,365 million. Mass Beauty grew by 4.9%, Health and Wellbeing grew 2.7% while High-End Beauty was in line with last year.
* Total revenue was up by 1.9% in 9M 2022/23 driven by online growth of 9.3%, while wholesale sales grew 1.1% and physical stores declined by 0.5%.
* Footfall was strong, and the number of transactions increased by 4.3% to 17.7 million, while the average basket size fell by 2.2% to DKK 191 per transaction.
* Gross profit for 9M 2022/23 amounted to DKK 1,530 million compared to DKK 1,498 million in 9M 2021/22. The gross margin was 44.5%, up from 43.8%, when adjusting for special items.
* Other external costs amounted to DKK 269 million in 9M 2022/23, up from DKK 236 million in 9M 2021/22. The higher other external costs were driven by a DKK 12 million increase in energy costs and costs attributable to the online growth in 9M 2022/23.
* EBITDA before special items amounted to DKK 647 million in 9M 2022/23 compared to DKK 635 million in 9M 2021/22. The EBITDA margin before special items was 18.8% which is in line with last year.
* Cash generated from operations was an inflow of DKK 757 million in 9M 2022/23 against an inflow of DKK 537 million in 9M 2021/22.
* Free cash flow was an inflow of DKK 541 million, compared with an inflow of DKK 267 million in 9M 2021/22.
Video conference
Matas will host a video conference for investors and analysts on Wednesday, 8 February at 10:00 a.m. CET. The video conference and the presentation can be accessed from Matas' investor website: https://investor.matas.dk.
Video conference 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://streams.eventcdn.net/matas/q3-interimreport/
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
Frederikke Linde
Head of Investor Relations, phone +45 60 62 60 87
Forward-looking statements
This interim report contains statements relating to the future, including statements regarding Matas Group's future operating results, financial position, cash flows, business strategy and future targets. Such statements are based on Management's reasonable expectations and forecasts at the time of release of this report. Forward-looking statements are subject to risks and uncertainties and a number of other factors, many of which are beyond Matas Group's control. This may have the effect that actual results may differ significantly from the expectations expressed in the report. Without being exhaustive, such factors include general economic and commercial factors, including market and competitive conditions, supplier issues and financial and regulatory issues as well as any effects of healthcare measures that are not specifically mentioned above.
Attachment
https://ml-eu.globenewswire.com/Resource/Download/7d49cb80-6e1a-44cc-b8ce-93918b639e70
https://www.globenewswire.com/NewsRoom/ReleaseNg/401480288
8.2.2023 07.58 • GlobeNewswire •
Company announcement no. 13 2022/23
Allerød, 8 February 2023
Interim report -
9M
202
2
/2
3
(1 April - 3
1 December
202
2
)
Profitability improved and free cash flow doubled
* Driven by a record high number of customers, Matas generated a total revenue of DKK 1,396 million in Q3 2022/23 corresponding to a year-on-year increase of 1.3% from DKK 1,378 million in Q3 2021/22. Underlying sales grew 1.2% in the quarter.
* Gross margin was 44.5% in the quarter which is in line with the long-term trend.
* EBITDA before special items came to DKK 296 million in Q3 2022/23 compared to DKK 284 million last year, and the EBITDA margin before special items was 21.2% in the quarter against 20.6% last year.
* Profit for the period amounted to DKK 147 million after tax which is in line with Q3 2021/22.
* Customer satisfaction maintained the high level reached in Q2 with a Net Promotor Score of 75 on matas.dk and 73 in stores.
* Matas.dk strengthened its position as the second most frequently used web shop across all retail categories according to the Danish Chamber of Commerce's E-commerce Analysis for 2022.
* On 31 January 2023, Matas launched its web shops matas.no and matas.se.
* A tender for Matas Logistics Center was sent out on 1 February 2023.
* Matas maintains its guidance for the financial year 2022/23, but now expects to reach the upper end of the guided range for EBITDA margin before special items between 17% and 18%.
Gregers Wedell-Wedellsborg, CEO of Matas A/S:
"The Christmas season was bright and shining in Matas. We served a record number of
customers, maintained our high customer satisfaction, and
finished the quarter with 16% growth in online sales.
The numbers confirm our growth strategy even in a
challenging retail environment.
Profitability improved, despite rising facility costs, as a result of growth from our house
brands and our pick-in-store initiative, which ensures delivery to customers
within one hour and lowers fulfilment
costs.
On the back of good Q3 results, w
e expect to reach the
uppe
r
end of our guided EBITDA margin before special items
for the financial year 2022/23
.
To gain foothold in international markets, we have
now opened our award
-
winning
web shop in Sweden and Norway. Thereby, we give access to our unique beauty
and wellbeing assortment to
both Swedish and Norwegian
consumers, 20% of whom already
know Matas from visits and holidays in Denmark."
Key f
igures and ratios
#
2022/23 Q3 2021/22 Q3 2022/23 9M 2021/22 9M
Key figures (DKKm)
Revenue 1,396.2 1,378.4 3,438.9 3,373.6
Gross profit 620.9 613.7 1,529.9 1,497.7
EBITDA before special items 295.9 283.5 647.4 634.8
Profit for the period after tax 147.3 146.7 263.1 237.2
Free cash flow 382.4 186.1 541.2 266.8
Ratios
Revenue growth 1.3% 5.0% 1.9% 5.7%
Underlying like-for-like revenue growth 1.2% 2.8% 1.8% 3.4%
Gross margin 44.5% 44.5% 44.5% 44.4%
EBITDA margin before special items 21.2% 20.6% 18.8% 18.8%
Net interest-bearing debt/ EBITDA before special items 1.5 2.1
---------------------------------------------------------------------------------------------------
#
Q
3
202
2
/2
3
highlights
* Matas generated a total revenue of DKK 1,396 million in Q3 2022/23 corresponding to a year-on-year increase of 1.3% from DKK 1,378 million in Q3 2021/22 (1.2% revenue increase announced in the trading update). Underlying sales increased by 1.2%.
* Online sales grew by 15.5% and physical stores reported sales down by 3.4% compared to Q3 last year.
* Footfall was strong, and the number of transactions increased by 2.3% to 6.8 million, while the average basket size fell by 0.8% to DKK 203 per transaction.
* Gross profit for Q3 2022/23 amounted to DKK 621 million, up from DKK 614 million in Q3 2021/22. The gross margin was 44.5%, up from 43.0% in Q3 2021/22, when adjusting for the DKK 20 million from the Club Matas VAT case last year.
* Other external costs amounted to DKK 105 million in Q3 2022/23, up from DKK 98 million in Q3 2021/22. The increase in other external costs by DKK 7 million was primarily driven by an increase in facility and freight costs compared to Q3 2021/22.
* EBITDA before special items came to DKK 296 million resulting in an EBITDA margin before special items of 21.2%.
* The total amortization, depreciation and impairment charges were down by DKK 13 million to DKK 95 million in Q3 2022/23.
* Profit for the period amounted to DKK 147 million after tax which is in line with Q3 2021/22.
* Free cash flow was an inflow of DKK 382 million, compared with an inflow of DKK 186 million the year before.
9M
2022/23 highlights
* Retail revenue was up by 2.0% to DKK 3,365 million. Mass Beauty grew by 4.9%, Health and Wellbeing grew 2.7% while High-End Beauty was in line with last year.
* Total revenue was up by 1.9% in 9M 2022/23 driven by online growth of 9.3%, while wholesale sales grew 1.1% and physical stores declined by 0.5%.
* Footfall was strong, and the number of transactions increased by 4.3% to 17.7 million, while the average basket size fell by 2.2% to DKK 191 per transaction.
* Gross profit for 9M 2022/23 amounted to DKK 1,530 million compared to DKK 1,498 million in 9M 2021/22. The gross margin was 44.5%, up from 43.8%, when adjusting for special items.
* Other external costs amounted to DKK 269 million in 9M 2022/23, up from DKK 236 million in 9M 2021/22. The higher other external costs were driven by a DKK 12 million increase in energy costs and costs attributable to the online growth in 9M 2022/23.
* EBITDA before special items amounted to DKK 647 million in 9M 2022/23 compared to DKK 635 million in 9M 2021/22. The EBITDA margin before special items was 18.8% which is in line with last year.
* Cash generated from operations was an inflow of DKK 757 million in 9M 2022/23 against an inflow of DKK 537 million in 9M 2021/22.
* Free cash flow was an inflow of DKK 541 million, compared with an inflow of DKK 267 million in 9M 2021/22.
Video conference
Matas will host a video conference for investors and analysts on Wednesday, 8 February at 10:00 a.m. CET. The video conference and the presentation can be accessed from Matas' investor website: https://investor.matas.dk.
Video conference 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://streams.eventcdn.net/matas/q3-interimreport/
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
Frederikke Linde
Head of Investor Relations, phone +45 60 62 60 87
Forward-looking statements
This interim report contains statements relating to the future, including statements regarding Matas Group's future operating results, financial position, cash flows, business strategy and future targets. Such statements are based on Management's reasonable expectations and forecasts at the time of release of this report. Forward-looking statements are subject to risks and uncertainties and a number of other factors, many of which are beyond Matas Group's control. This may have the effect that actual results may differ significantly from the expectations expressed in the report. Without being exhaustive, such factors include general economic and commercial factors, including market and competitive conditions, supplier issues and financial and regulatory issues as well as any effects of healthcare measures that are not specifically mentioned above.
Attachment
https://ml-eu.globenewswire.com/Resource/Download/7d49cb80-6e1a-44cc-b8ce-93918b639e70
https://www.globenewswire.com/NewsRoom/ReleaseNg/401480288
8/2 2023 09:42 ProInvestorNEWS 1
110244 Matas Q3: Fastholder forventninger men ser margin i den høje ende
8.2.2023 08.17 • MarketWire •
Butikskæden Matas fastholder forventningerne til 2022/23, men ser dog nu indtjeningsmarginen ende i den høje ende af det udmeldte forventningsspænd.
Dermed venter Matas fortsat en omsætningsvækst mellem 1-3 pct., mens der nu ventes en EBITDA-margin før særlige poster i den øvre ende af intervallet på 17-18 pct.
Det fremgår af selskabets regnskab for tredje kvartal, som er offentliggjort onsdag morgen.
- Rentabiliteten blev forbedret til trods for øgede energi- og anlægsomkostninger grundet vækst i egne brands samt vores pluk-i-butik koncept, som sikrer levering til kunderne inden for en time samt reducerer ordreopfyldelsesomkostningerne. På baggrund af de gode resultater for 3. kvartal 2022/23, ventes EBITDA-marginen før særlige poster at ligge i den øvre ende af det guidede interval for regnskabsåret 2022/23, skriver Matas i regnskabet om forventningerne.
Matas nedjusterede forventningerne til omsætningsvæksten i forbindelse med sin handelsopdatering 5. januar fra tidligere 1-4 pct.
.\˙ MarketWire
Amalie Dinesen
8.2.2023 08.17 • MarketWire •
Butikskæden Matas fastholder forventningerne til 2022/23, men ser dog nu indtjeningsmarginen ende i den høje ende af det udmeldte forventningsspænd.
Dermed venter Matas fortsat en omsætningsvækst mellem 1-3 pct., mens der nu ventes en EBITDA-margin før særlige poster i den øvre ende af intervallet på 17-18 pct.
Det fremgår af selskabets regnskab for tredje kvartal, som er offentliggjort onsdag morgen.
- Rentabiliteten blev forbedret til trods for øgede energi- og anlægsomkostninger grundet vækst i egne brands samt vores pluk-i-butik koncept, som sikrer levering til kunderne inden for en time samt reducerer ordreopfyldelsesomkostningerne. På baggrund af de gode resultater for 3. kvartal 2022/23, ventes EBITDA-marginen før særlige poster at ligge i den øvre ende af det guidede interval for regnskabsåret 2022/23, skriver Matas i regnskabet om forventningerne.
Matas nedjusterede forventningerne til omsætningsvæksten i forbindelse med sin handelsopdatering 5. januar fra tidligere 1-4 pct.
.\˙ MarketWire
Amalie Dinesen
8/2 2023 15:38 ProInvestorNEWS 1110263 Matas/Carnegie: Kursmål hæves til 29 pct. over kursen
8/2 14:16
Matas har efter morgenens regnskab fået løftet sit kursmål til 110 kr. fra 105 kr. af finanshuset Carnegie.
Det viser data fra Bloomberg News.
Finanshuset gentager ved samme lejlighed den positive anbefaling "køb".
Skønhedsplejekæden leverede regnskab for sit forskudte tredje kvartal onsdag morgen, der viste en fremgang i EBITDA-indtjeningen til 295,9 mio. kr. sammenlignet med 283,5 mio. kr. i tredje kvartal 2021/22.
Matas-aktien ligger onsdag eftermiddag med en stigning på 4,4 pct. i 81,10 kr.
.\˙ MarketWire
8/2 14:16
Matas har efter morgenens regnskab fået løftet sit kursmål til 110 kr. fra 105 kr. af finanshuset Carnegie.
Det viser data fra Bloomberg News.
Finanshuset gentager ved samme lejlighed den positive anbefaling "køb".
Skønhedsplejekæden leverede regnskab for sit forskudte tredje kvartal onsdag morgen, der viste en fremgang i EBITDA-indtjeningen til 295,9 mio. kr. sammenlignet med 283,5 mio. kr. i tredje kvartal 2021/22.
Matas-aktien ligger onsdag eftermiddag med en stigning på 4,4 pct. i 81,10 kr.
.\˙ MarketWire
8/2 2023 09:52 ProInvestorNEWS 1110247 Matas forbedrer driften efter godt julesalg
8/2 08:27
Butikskæden Matas forbedrede driftsindtjeningen før særlige poster i tredje kvartal af det skæve regnskabsår 2022/2023, mens overskuddet på 147 mio. kr. var på niveau med sidste år.
Driftsresultatet, EBITDA, før særlige poster beløb sig til 296 mio. kr. for tredje kvartal 2022/23 mod 284 mio. kr. i samme periode sidste år.
Det svarer til en EBITDA-margin før særlige poster på 21,2 pct. for 3. kvartal 2022/23 mod 20,6 pct. sidste år.
Det fremgår af Matas' regnskab for kvartalet onsdag.
Omsætningen var kendt på forhånd, da Matas 5. januar har afleveret foreløbige tal.
Toplinjen steg i perioden til 1396 mio. kr. fra 1378,4 mio. kr. sidste år, mens "Like for like"-væksten endte på 1,2 pct. mod 2,8 pct i samme kvartal 2021/22.
- Julehandlen i Matas var funklende. Vi har ekspederet et rekordhøjt antal kunder, fastholdt vores høje kundetilfredshed og afsluttet kvartalet med en 16 pct. vækst i onlinesalget. Tallene bekræfter vores væktsstrategi, selv i et udfordrende detailmarked, siger Matas' topchef Gregers Wedell-Wedellsborg i regnskabet.
8/2 08:27
Butikskæden Matas forbedrede driftsindtjeningen før særlige poster i tredje kvartal af det skæve regnskabsår 2022/2023, mens overskuddet på 147 mio. kr. var på niveau med sidste år.
Driftsresultatet, EBITDA, før særlige poster beløb sig til 296 mio. kr. for tredje kvartal 2022/23 mod 284 mio. kr. i samme periode sidste år.
Det svarer til en EBITDA-margin før særlige poster på 21,2 pct. for 3. kvartal 2022/23 mod 20,6 pct. sidste år.
Det fremgår af Matas' regnskab for kvartalet onsdag.
Omsætningen var kendt på forhånd, da Matas 5. januar har afleveret foreløbige tal.
Toplinjen steg i perioden til 1396 mio. kr. fra 1378,4 mio. kr. sidste år, mens "Like for like"-væksten endte på 1,2 pct. mod 2,8 pct i samme kvartal 2021/22.
- Julehandlen i Matas var funklende. Vi har ekspederet et rekordhøjt antal kunder, fastholdt vores høje kundetilfredshed og afsluttet kvartalet med en 16 pct. vækst i onlinesalget. Tallene bekræfter vores væktsstrategi, selv i et udfordrende detailmarked, siger Matas' topchef Gregers Wedell-Wedellsborg i regnskabet.
Synes da stadig matas er billig i kr. 90.
Har aldrig forstået hvad den skulle under 80.-
Bedre end penge I banken.
Har aldrig forstået hvad den skulle under 80.-
Bedre end penge I banken.
