January-March 2025
- Net sales were 523.7 MSEK (493.4), an increase of 6.1% compared to the first quarter of 2024. Organic growth amounted to 6.2%.
- EBITA was 58.1 MSEK (53.3), corresponding to an EBITA margin of 11.1% (10.8). The period was impacted by one-off costs of 4.2 MSEK (0) regarding efficiency improvements in the organization.
- Earnings per share amounted to 0.99 SEK (0.67).
- Cash flow after investing activities was 4.9 MSEK (38.3).
Significant events during and after the quarter
No significant events have occurred during or after the end of the period.
COMMENTS FROM THE CEO
A good start to the year
Sales in the first quarter of 2025 were 524 MSEK with an EBITA margin of 11.9% after adjustment for one-off costs. Compared to the corresponding quarter in 2024, this means that sales increased 6.1% and that the EBITA margin improved from 10.8%. All in all, a good start to the year in a continued challenging economy and operating environment.
After a challenging end to 2024, we can conclude that sales developed well in the first quarter with sales growth in both our Nordic home market and internationally. The weak economic activity that we reported on last year appears to be largely continuing, although we can see a slight increase in activity among some customers. During the first quarter, we increased sales in a number of countries and customer segments, while we saw greater challenges in Sweden, Denmark and Germany with more cautious demand. The recent unrest around tariffs has no direct impact on us as a company as we do not have any extensive sales to or direct purchases from USA. However, the general uncertainty in world trade does of course affect our industry, with some disruptions in deliveries and, above all, increased uncertainty among customers regarding investment in their bathrooms and kitchens. However, we continue to see that our established position within the renovation market and strong business in the Nordic region and Western Europe provide a stable customer base and demand even in uncertain times
With improved sales, we can conclude that both gross margin and EBITA margin strengthened during the quarter, which is pleasing. This is a result of higher volumes, but also of various improvement activities that we have been working on for a long time. In the first quarter, we have one-off costs linked to efficiency improvements in the organization. Given what is happening in connection with changes in tariffs, it is becoming even more important for us to work proactively to secure deliveries from our suppliers and to continue the work of optimising inventory.
Finally, I would like to highlight the participation of Hotbath at the global trade fair ISH in Frankfurt in March. In 2024, we further developed Hotbath's communication and product portfolio, and we presented these for the first time at ISH. The focus is to create an even clearer premium offer for decision-makers who value high-quality furnishings in their bathrooms. Taps are still the core product, but we now also offer additional complementary bathroom products which match these. The ambition is that with this step, we will become an even stronger partner to our customers with a more complete offering for the bathroom. The reception at the fair was very positive, which is a nice acknowledgment that the slightly adjusted strategy for Hotbath has good chances of success.
All in all, we sum up a good start to the year in an otherwise relatively weak and uncertain market and operating environment. However, we have made a lot of progress during the quarter and continue to work on efficiency improvements throughout the Group and succeeding with the growth opportunities that we see.
For more information please contact:
Fredrik Skarp, CEO, Tel: +46 (0) 250 596 405.
Martin Gallacher, CFO, Tel +46 (0) 250 596 225.
About Us
FM Mattsson Group conducts the sale, manufacture and product development of water taps and related products under the strong, established brands of FM Mattsson, Mora Armatur, Damixa, Hotbath, Aqualla and Adamsez. The group's vision is to be the customer's first choice in the bathroom, kitchen and beyond. In 2024 the business generated sales of 1.9 billion SEK from its companies in Sweden, Norway, Denmark, Finland, Benelux, UK, Germany and Italy and had 565 employees. FM Mattsson Group is listed on Nasdaq Stockholm.
This information is information that FM Mattsson AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-05-08 08:00 CEST.
