May 04, 2023 / 11:00AM GMT
David Rönnberg - Musti Group Oyj - CEO
Hi, everyone, and welcome to Musti's half-year financial report. David Rönnberg is my name, and I'm CEO for the company. And with us, we also have Toni Rannikko, the CFO of the company.
It was a solid first half of the financial year. A lot of the numbers that we are looking at was extremely well. We are very proud of what we have achieved during our first half, especially in this environment.
Net sales increased with 14.2% in local currency and 9.4% in Europe. We had a fantastic like-for-like that increased with 8.8%, and adjusted EBITDA was EUR35.8 million, an increase of 6%. We also increased our loyal members with 10%, which shows that we're taking market share from our competitors, which is, of course, really good.
We had a strong cash flow that came in at EUR28.4 million, an increase with 53% versus last year. So very strong numbers there as well. Our own and exclusive products increased slightly. That is stable at 53% currently. And during the last months, we have been slowing down in opening stores. So we opened
Q2 2023 Musti Group Oyj Earnings Call Transcript
May 04, 2023
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