Matas A/S (MAASF) Q3 2025 Earnings Call Transcript

Operator

Welcome to Matas Group Q3 2025/2026 Financial Presentation. Today’s call is being recorded. [Operator Instructions]

I would like to introduce Interim Group CEO, Per Johannesen Madsen. Please begin.

Per Madsen
Interim Group CEO & Group Chief Financial Officer

Thank you, and welcome to the Q3 reporting for Matas Group. It’s really been a quarter with what we call some mixed results, a record sales in third quarter in Matas and some challenges in our KICKS markets, which I’ll take you through in some more details.

But let me just say to you, we grew the third quarter 1.8% year-on-year from a currency-neutral perspective, which is equivalent to 3.1% as we have reported in our Q3 report. That also equates to a 16.7% EBITDA margin adjusted for FX, 17.2%, which is slightly below last year, but still in a quarter where we were managing slightly challenging sales, but managed that with some good and strong cost control.

So overall, a quarter coming out supporting the updated guidance we gave early in January, looking at 3% to 4% growth for the year, 14% to 14.5% EBITDA margin, and CapEx within our guidance between 3% to 4% of revenues.

I also think it’s been a quarter where we’ve seen, and I’ll come back to some more details on that, where our 2 big investments, both the Matas and KICKS logistics centers really have shown the impact on our P&L.

Going into the 2 different groups. Looking at Matas, 5.5% growth. That includes our subsidiaries, which also