Matsmart-Motatos’ Global Annual Results 2021

Fuelling Strong Growth in Europe's Biggest Markets and Investing in Nordic Profitability

Jan to Dec 2021 Financial KPI:s

• The Group revenue amounted to SEK 722 million, an increase of 47% (33) from 2020 (493). 
  • Sweden: Revenue amounted to SEK 440 (383) million*  
  • Germany: Revenue amounted to SEK 174 (33) million*
  • Denmark: Revenue amounted to SEK 34 (13) million*
  • Finland: Revenue amounted to SEK 74 (64) million* 
• The Group annual result after financial items landed at SEK -186 million (-92)
• The equity / assets ratio at the end of the year was 80% (18%) for the Group 
• A new issue of shares was carried out in the spring and fall of 2021 with existing and new shareholders, which generated a cash contribution of SEK 588 (350 + 238) million. 

Jan to Dec 2021 Positive Impact KPI:s

• The Group saved and sold a total of 20 928 tonnes of food and consumer products contributing to net savings in carbon emissions amounting to over 15 000 tonnes of CO2e.
• In Sweden 10,954 (8,952) tonnes of food and consumer products were saved and sold, in Finland 1,600 (1,299), in Germany 7,567 (1,197) and in Denmark 808 (236) 

Important events after the end of the year:

• Q1 2022 was the strongest performing one in company history with an overall growth of 35 percent. Germany stands out by performing 100 percent YoY growth.
• In March, the new Nordic climate smart and automated warehouse was opened in Örebro. Big as three soccer fields, powered by solar panels and operated by people and robots, its efficiency rate is three times higher than the previous facility in Katrineholm. Despite global supply chain challenges, the project was completed on time and within budget. 
• The UK operations were launched in June 2022, driven by market size and fit as well as supplier demand for more efficient supply chains. So far, the market response has been very positive, confirming projections for high growth ahead.

Recently, the annual report for Matsmart in Scandinavia AB was sent to the Swedish Companies Registration Office. The annual report was approved by the company's board and auditor on June 30, 2022.

Comments from Matsmart-Motato's CEO Karl Andersson:

“The past 18 months, we have invested heavily in market growth and infrastructure and we have fortified our teams on all levels.

In a time when, on a macro level, the economic and climate costs are converging - more than anything else, 2021’s development shows the robustness of and relevance for our business. Where e-commerce in general has seen the pandemic booster effect wear off - our growth pace has remained high and steady throughout the full year and into the next. 

Sustainable offers at affordable prices have a clear place in the broad consumer segments. At the same time, the industry incentives to reduce inefficiencies and climate impact are ever increasing. In short, we experience pull effects from both ends of the value chain, putting us in a very good stead to accelerate our market reach and presence.” 

CEO’s Comments on Developments in: 

The Nordics: “The Nordic markets are in many ways spearheading sustainable consumption. Nearing a decade of operations, these markets now show healthy growth and we are gradually moving forward towards a steady, profitable pace - underpinned by the shift to automation in Örebro during 2022.” 

Germany: “What took us two years to build in our home market Sweden, we did in under six months in Germany and the market is rapidly becoming our European power house. Perhaps what the German market has given us more than anything else is evidence of our ability to scale - something we can leverage in our latest market, the UK.” 

* For 2021, the revenue per legal entity reflects the annual revenue of the Group, eliminating intra-group transactions 

Hanna Thofelt Lindström
Head of Communications and Impact
+46763161207
hanna.thofelt.lindstrom@motatos.com

About Motatos: 

Motatos is a fast-growing, impact-led D2C e-commerce brand battling global food waste by driving change within the food industry. Motatos sells groceries online, helping the big producers of FMCG offload their surplus inventory, reducing waste in the value chain and making their businesses more sustainable. Launched in Sweden in 2014, the company currently operates in five markets: Sweden, Finland, Norway, Germany and the UK.

Motatos’s revenue run rate is €100 million and the company has raised €95 million in capital from outside investors since it was founded. Among others, Motatos is backed by London based Blume Equity, Gullspång Re:food Invest, SEB Private Equity, Northzone, Edastra, Ingka Group (IKEA), LeadX Capital and Norrsken Foundation.

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