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Matas (MATAS) investor relations material
Matas Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 saw record sales in Matas, driven by Mass Beauty, Health and Wellbeing, and online channels, while KICKS faced a 3.8% revenue decline due to consumer trade-down and high campaign pressure in High-end Beauty, especially in Sweden.
Group sales grew 1.8% year-over-year currency-neutral (3.1% reported), with EBITDA margin before special items at 16.7% (17.2% FX-adjusted), slightly below last year, impacted by FX and consumer behavior shifts.
Cost discipline was maintained, with staff cost savings and logistics efficiency, but higher marketing spend to support competitiveness.
The strategy to win the Nordics remains intact, with acceleration in assortment expansion, digital platforms, and store network, and a focus on broadening KICKS' offer.
The share buy-back program continued, with DKK 109 million completed by end of Q3.
Financial highlights
Q3 revenue: DKK 2,776 million (+3.1% YoY), gross profit: DKK 1,243 million, gross margin: 44.8% (down from 46.2%).
EBITDA before special items: DKK 465 million (margin 16.7%), profit for the period: DKK 186 million.
Free cash flow for the quarter was DKK 367 million, impacted by increased working capital and normalized CAPEX.
Inventories reduced by almost DKK 300 million during the quarter, though still above last year due to assortment expansion and logistics improvements.
Cost base declined 0.5% year-over-year despite 3.1% sales growth, reflecting strong cost control.
Outlook and guidance
Full-year guidance reaffirmed and then revised in January: revenue growth of 3–4% (currency neutral), EBITDA margin before special items of 14.0–14.5%, and CAPEX at 3–4% of revenue.
Confident in delivering within guidance after Q3 results, despite challenging market conditions.
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