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Matas (MATAS) investor relations material
Matas Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue grew 6.0% year-over-year to DKK 2,074 million in Q1 2025/26, with currency neutral growth at 4.7%.
Free cash flow surged to DKK 371 million, driven by improved working capital and normalized investments.
Membership base surpassed 6 million, supporting market share gains and customer engagement.
Operational excellence, automation, and synergy realization are driving margin improvement and cash generation.
Refinancing completed on competitive terms, increasing financial flexibility; share buyback program launched.
Financial highlights
Group revenue reached DKK 2,074 million, with 4.7% currency neutral growth year-over-year.
EBITDA margin before special items was 14.5%, down from 14.9% year-over-year, impacted by FX headwinds.
Gross margin was 46.0%, slightly down due to FX and Skincity closure; Matas margin improved to 47.7%, KICKS declined to 43.1%.
Free cash flow improved significantly, reflecting better working capital and normalized CAPEX.
Gearing closed the quarter at 3.0x EBITDA, with long-term target unchanged at 2.0x–3.0x.
Outlook and guidance
Revenue growth guidance for FY 2025/26 maintained at 3–7% currency neutral (3.9–7.9% excluding Skincity).
EBITDA margin before special items expected to be around 15%.
CAPEX guidance set at 3–4% of revenue, about DKK 330 million, reflecting normalized investment.
Long-term guidance and strategic priorities remain unchanged, with synergy targets on track.
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