April-June 2025
- Net sales were 503.5 MSEK (491.7), an increase of 2.4% compared equivalent period in 2024. Organic growth was 5.5%.
- EBITA was 44.8 MSEK (54.1), an EBITA margin of 8.9% (11.0). The period was impacted by one-off costs of 0.4 MSEK (0) regarding efficiency improvements in the organization.
- Earnings per share were 0.65 SEK (0.80).
- Cash flow after investing activities was 68.1 MSEK (58.5).
January-June 2025
- Net sales were 1,027.2 MSEK (985.2), an increase of 4.3% compared to equivalent period in 2024. Organic growth was 5.9%.
- EBITA was 102.9 MSEK (107.4), an EBITA margin of 10.0% (10.9). The period was impacted by one-off costs of 4.5 MSEK (0) regarding efficiency improvements in the organization.
- Adjusted for one-off costs, EBITA was 107.4 MSEK (107.4).
- Earnings per share were 1.64 MSEK (1.47).
- Cash flow after investing activities was 73.0 MSEK (96.8).
Significant events during and after the quarter
No significant events occurred during or after the end of the period.
COMMENTS FROM THE CEO
A stable quarter with room for improvement
Sales in the second quarter of 2025 were 504 MSEK with an EBITA margin of 8.9%. Compared to the equivalent period in 2024, this means that sales increased by 2.4% and that the EBITA margin reduced to 11.0%. In a continued challenging economic situation, it is pleasing that we achieved growth of over 4% in the first half of the year and continued to show a strong cash flow. The development of our gross margin shows room and a need for improvement.
A strong sales start in the first quarter has been followed by stable sales in the second quarter. It has been more challenging in Denmark and the Netherlands in particular, while in some regions we believe that we will continue to gain market share, and most clearly in the UK. The differences in sales outcomes are a combination of general local demand and the fact that in countries where we are a smaller niche player, there is more scope to increase market share. We continue to see a challenging economic situation in the coming quarters, but with a long-term underlying stable and greater need for products with attractive design and clear sustainability benefits, which we focus on in all our brands. Our high share of sales within the renovation market is also a clear strength in the current economic climate, as it is more stable than new build. The increased financial support for renovations from the government in Sweden is also a positive signal for us, although it is still too early to see any effect on our results.
Profitability in the second quarter was mainly affected by a weaker gross margin due to inventory write-downs related to the operations in Sweden and Northern Ireland. The reasons are that the assortments have changed with new and discontinued items to meet market demands and customer needs, but also challenges in forecasting future needs for different products. For a long time, we have focused on improving inventory management in all parts of the Group, but can conclude that we have not reached all the way and that we need to continue to focus on these issues. During the quarter, we also incurred slightly higher costs for upgrading and developing IT systems, which give us better conditions for becoming more efficient in both our internal processes and customer collaborations. In the coming quarters, we will continue with several efforts to become more cost-efficient and, above all, improve internal processes related to inventory.
Finally, I would like to highlight our participation at this year's major Danish trade fair that took place in Odense in May. We participated with our Scandinavian brands and the main event was the launch of our new Damixa series Iris and Zen. These are two brand new series that encompass Danish design for the modern kitchen and bathroom. Both were well received by visitors and are important milestones for Damixa to both strengthen its strong position in the Nordic home market and take new steps with the international business.
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 and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-08-28 08:00 CEST.
