Musti publishes Q3 interim report

‘Musti’s positive trend continued in Q3. Strong sales growth underpinned further market share gains, extending our leadership in a rebounding market. Our gross margin and market share growth supports our ambition to continue investing in initiatives to further capitalise on the strengthened position. We are focused on ensuring Musti has the tools needed to meet the changing needs of pet parents and deliver sustained earnings growth’, said David Rönnberg, CEO of Musti Group, in a press release, in which the company published its Q3 interim report.

The company’s net sales grew by 14.2% to EUR 127.3 million (111.5 million), it said. Norway’s growth strengthened to 19.6% (6.5%), and both Finland 3.8% (-4.1%) and Sweden 3.9% (4.8%) posted resilient growth. In the yet to LFL Baltic market sales are progressing well, and Musti expects more growth as the company optimises the assortment including the addition of exclusive products.

 Q3 2025 is the second consecutive quarter to demonstrate that the tactical implementation of Musti’s strategic initiatives are delivering above market growth and extending our leadership in our traditional Nordic and new Baltic markets, according to the release. This reinforced that their offering of top-quality, good value food and accessories, supportive pet care and vet clinic services, and their fast and easy to use online offer met the ever-changing needs of an informed consumer, it said.

Adjusted EBITDA increased to 16.9 million € (16.5 million €) post investments of approximately 1.0 million € related to several initiatives that are intended to improve profitability and growth in the future. These include investments in central logistics, online and digital platforms and assortment and space projects for the company’s store fleet. Musti is not satisfied with the current profitability, according to the press release, however, the company is confident that all the actions underway will continue to improve efficiency and support the scalability of the business. ‘We are seeing signs of improvement in our financial performance’, it said. ‘Our focus remains on humbly understanding the high standards of our pet parents and are committed to the continuous evolution of our offer to meet those standards while simultaneously actively seeking new opportunities in existing and new markets to enhance and add value to our offering.’