Musti Group reinforced its dominance in the Nordic pet market and successfully expanded into the Baltic region, CEO David Rönnberg announced in the company’s financial report. Despite economic challenges, Musti increased customer numbers and market share, though adjusted EBITDA declined by 16% to €17.2 million due to inflation and pricing strategies. Net sales rose by 5.6% to €122.2 million, with online sales growing by 8.3% and store sales increasing by 4.5%, bolstered by the acquisition of Pet City. Sweden and Norway showed positive growth, while Finland remained stagnant due to weak consumer confidence. Rönnberg expects Musti to benefit from improving economic conditions and rising consumer purchasing power in the coming months.
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