Matas A/S
CSE:MATAS
Matas A/S
Matas A/S engages in the operation of retail chain for beauty, personal care, and health products. Each of the Company's stores offers products diversified into four product segments: Beauty Shop; Vital Shop; Material Shop, and Matas MediCare. The Beauty Shop segment includes cosmetics, fragrances, skincare and hair care products. The Vital Shop segment offers vitamins, minerals and supplements. The Material Shop segment encompasses household and personal care goods including cleaning and maintenance, personal grooming, childcare and sports-related products. The Matas MediCare segment offers over-the-counter medicine and first aid products. The firm's product offering includes both international and Danish health and beauty brands, as well as its own brands like Stripes (principal own brand), Matas Natur and Plaisir.
Guidance Maintained: Matas kept its full-year guidance for revenue growth of 3–4% (4–8% excluding Skincity), EBITDA margin at 15%, and CapEx at 3–4% of revenue.
Strong Start: Q1 delivered as expected, with no surprises; reported revenue growth was 6% (4.7% currency neutral), supported by double-digit online growth.
Operational Milestones: Major investments and integration, including two automated logistics centers and IT migration, are now complete and fully operational.
Margin Pressures: EBITDA margin remained flat at 14.9% due to FX headwinds and the closure of high-margin Skincity, but underlying performance was stable.
Cash Flow Boost: Significant improvement in cash flow driven by normalized CapEx and better working capital management, reducing leverage in Q1.
Online & Mass Beauty Growth: Online sales grew 17%, outpacing the market; mass beauty performed well as consumers traded down in a volatile environment.
Synergies on Track: The company confirmed DKK 140 million in synergies from the KICKS acquisition for this financial year, with an additional DKK 50 million expected next year.
