Musti Group expects market growth to continue

Musti Group plc                                                                                   Press Release 29 September 2020 at 9.00 a.m.

Musti Group expects market growth to continue

Musti Group estimates to increase the number of own stores by 25-35 during the reporting year 2021 (October 2020-September 2021). For the reporting year 2020 (October 2019-September 2020) the estimate is 20-25 new own stores.

Musti reiterates the higher growth expectations for the market as it sees the ongoing pet parenting trend, strengthened by the COVID-19 period, to continue strong also going forward during reporting year 2021. The number of registered puppies in Musti’s operating markets has increased continuously during 2020 and accelerated the number of puppy customers in Musti. This development is expected to continue and support the higher demand for pet products.

Group CEO David Rönnberg: ‘The favorable momentum in the market is foreseen to continue also during 2021 and increasing the number of own stores allows us to reach even more customers utilizing our omnichannel business model. We will continue to concentrate on profitable growth and the stores will be opened in locations that support our strategy in all three countries. Stores provide an essential part of the omnichannel business model by providing Pet Parents the possibility to explore products, receive trusted advice from Musti experts and access pet services. The physical in-store offering is complemented by Musti’s online channel.’

Musti Group plc

David Rönnberg

CEO

Contact information:

Essi Nikitin

Head of Investor Relations and Communications

tel. +358 50 581 1455, essi.nikitin@mustigroup.com

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www.mustigroup.com

Musti Group in brief
Musti makes the life of pets and their owners easier, safer and more fun. We are the leading Nordic pet care company and we operate an omnichannel business model to cater for the needs of pets and their owners across Finland, Sweden and Norway. We offer a wide, curated assortment of pet products. We also provide pet care services such as grooming, training and veterinary services in selected locations.

Musti Group’s net sales were EUR 247 million in the financial year 2019. At the end of the financial year 2019, the company had 1,100 employees, over one million loyal customers and 277 stores.