Net sales rose 14.2% year-over-year to EUR 127.3 million, driven by growth in Norway, Finland, and the acquisition of Pet City in the Baltics.
Like-for-like sales growth was 2.3% in Q3, reversing a decline from the previous year.
Adjusted EBITDA increased 2.4% to EUR 16.9 million, with a margin of 13.3%, but margin declined due to higher operating expenses from growth investments.
The group is focusing on market share gains, digitalization, and integration of new markets, especially the Baltics.
Operating cash flow was EUR 13.1 million, impacted by non-recurring items.
Net sales: EUR 127.3 million (up 14.2% year-over-year).
Gross margin: 44.3% (up from 43.2%).
Adjusted EBITDA: EUR 16.9 million (up 2.4%).
Adjusted EBITDA margin: 13.3% (down from 14.8%).
Adjusted EBITA for Q3: EUR 6.6 million (down 15.8%).
Operating cash flow: EUR 13.1 million (down from EUR 19.9 million).
Net debt: EUR 195.8 million; gearing: 117.5%.
Integration of Pet City in the Baltics is ongoing, with continued investments expected to impact sales and profitability.
The pet care market is expected to return to long-term growth of ~4% in 2025, supported by stabilizing pet populations and improving consumer spending power.
The company will continue to prioritize growth investments and does not expect to distribute dividends.
Financial Statements Release for January–December 2025 will be published on 10 February 2026.
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