Musti Group to update its long-term financial targets

Musti Group plc                        Stock Exchange Release        4 May 2021
at 8.15 a.m.

Musti Group to update its long-term financial targets

Musti Group’s Board of Directors has decided to update the company’s long-term
financial targets. The updated long-term financial targets are:

  · Net sales to reach at least EUR 500 million by the financial year 2024 by
continuation of strong customer acquisition momentum and increasing share of
wallet.
  · Mid- to long-term adjusted EBITA margin of at least 13 per cent with
steadily improving profile. Margin increase is expected to be realized through
steady gross margin and improving operating leverage.
  · Maintain net debt in relation to adjusted EBITDA below 2.5x in the long
term.
  · To pay a dividend corresponding to 60-80 per cent of net profit. Any
potential dividend shall take into account acquisitions, the company’s financial
position, cash flow and future growth opportunities.

CEO David Rönnberg: ‘We are well on track and committed on delivering on our
plan and the updated long-term financial targets. We continue to focus on our
priorities: growing profitably, winning new customers, and systematically
growing the share of wallet with our customers, supported by the expanding
selection of products and services in our continuously developing Musti Group
ecosystem. In doing so, we will strengthen our position as the market leader as
we move towards time after the pandemic – and beyond. We look forward to a
future marked by ongoing innovation, winning customer hearts and minds and
growing market share.’

Musti Group will arrange a live webcast for analysts and media today at 2pm EEST
following the release of the Half-Year Financial Report. Participants will have
an opportunity to discuss the new long-term financial targets with CEO David
Rönnberg and CFO Robert Berglund. The webcast can be followed at
https://mustigroup.videosync.fi/2021-q2-results.

Additional information:

David Rönnberg

CEO, Musti Group

tel. +46 70 896 6552

Distribution:
Nasdaq Helsinki
Main media
www.mustigroup.com


Musti Group in brief
Musti makes the life of pets and their owners easier, safer and more fun. We are
the leading Nordic pet care company and we operate an omnichannel business model
to cater for the needs of pets and their owners across Finland, Sweden and
Norway. We offer a wide, curated assortment of pet products. We also provide pet
care services such as grooming, training and veterinary services in selected
locations.

Musti Group’s net sales were EUR 284 million in the financial year 2020. At the
end of the financial year 2020, the company had 1,162 employees, over one
million loyal customers and 293 stores.