Income Statement Musti Group Oyj

Stocks

MUSTI

FI4000410758

Other Specialty Retailers

Market Closed - Nasdaq Helsinki Other stock markets 17:00:00 12/06/2026 BST			5-day change	1st Jan Change
15.30 ^EUR	+0.66%		+2.00%	-14.14%

05-07	Musti Group Oyj Reports Earnings Results for the First Quarter Ended March 31, 2026	CI
04-29	Musti Group plc Announces Board Committee Appointments	CI

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Published financial data: MUSTI GROUP OYJ

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	341M	391M	426M	445M	509M
Total Revenues	341M	391M	426M	445M	509M
Cost of Goods Sold, Total	185M	210M	231M	251M	285M
Gross Profit	156M	181M	194M	194M	224M
Selling General & Admin Expenses, Total	61.83M	81.66M	87.23M	97.73M	117M
Depreciation & Amortization - (IS)	28.56M	34.54M	36.76M	41.59M	48.07M
Other Operating Expenses	36.88M	34.49M	35.47M	48M	51.82M
Other Operating Expenses, Total	127M	151M	159M	187M	217M
Operating Income	28.35M	30.8M	35.04M	6.81M	7.06M
Interest Expense, Total	-3.06M	-3.02M	-5.36M	-7.82M	-10.03M
Interest And Investment Income	3K	31K	1.21M	2.77M	1.47M
Net Interest Expenses	-3.06M	-2.98M	-4.15M	-5.05M	-8.56M
Income (Loss) On Equity Invest.	30K	84K	324K	-	-220K
Currency Exchange Gains (Loss)	1.6M	-3M	-1.6M	-1.12M	89K
Other Non Operating Income (Expenses)	-42K	3.54M	4.11M	80K	-1.51M
EBT, Excl. Unusual Items	26.88M	28.44M	33.72M	719K	-3.14M
Impairment of Goodwill	-	-	-	-	-
EBT, Incl. Unusual Items	26.88M	28.44M	33.72M	719K	-3.14M
Income Tax Expense	5.99M	6.11M	7.23M	-160K	577K
Earnings From Continuing Operations	20.9M	22.33M	26.49M	879K	-3.72M
Net Income to Company	20.9M	22.33M	26.49M	879K	-3.72M
Minority Interest	-23K	-2K	-39K	-15K	-6K
Net Income - (IS)	20.87M	22.33M	26.45M	864K	-3.72M
Net Income to Common Incl Extra Items	20.87M	22.33M	26.45M	864K	-3.72M
Net Income to Common Excl. Extra Items	20.87M	22.33M	26.45M	864K	-3.72M
Per Share Items
Net EPS - Basic	0.62	0.67	0.79	0.03	-0.11
Basic EPS - Continuing Operations	0.62	0.67	0.79	0.03	-0.11
Basic Weighted Average Shares Outstanding	33.41M	33.34M	33.37M	33.38M	33.39M
Net EPS - Diluted	0.62	0.66	0.79	0.03	-0.11
Diluted EPS - Continuing Operations	0.62	0.66	0.79	0.03	-0.11
Diluted Weighted Average Shares Outstanding	33.66M	33.58M	33.6M	33.53M	33.53M
Normalized Basic EPS	0.5	0.53	0.63	0.01	-0.06
Normalized Diluted EPS	0.5	0.53	0.63	0.01	-0.06
Supplemental Items
EBITDA	39.28M	43.38M	47.5M	20.07M	22.93M
EBITA	34.89M	37.22M	40.78M	12.74M	13.72M
EBIT	28.35M	30.8M	35.04M	6.81M	7.06M
EBITDAR	40.75M	52.45M	57.94M	46.26M	35.82M
Effective Tax Rate - (Ratio)	22.27	21.48	21.44	-22.25	-18.38
Total Current Taxes	4.41M	4.88M	4.11M	1.95M	1.07M
Total Deferred Taxes	1.58M	1.23M	3.12M	-523K	-494K
Normalized Net Income	16.78M	17.77M	21.03M	434K	-1.97M
Interest on Long-Term Debt	2.27M	2.23M	2.33M	3.68M	3.94M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	-	-	19K	48K	38K
Net Rental Expense, Total	1.47M	9.07M	10.45M	13.7M	12.89M
Imputed Operating Lease Interest Expense	297K	1.55M	2.83M	-	4.89M
Imputed Operating Lease Depreciation	1.17M	7.52M	7.62M	-	8M
Stock-Based Comp., SG&A Exp. (Total)	1.37M	1.35M	590K	1.22M	277K
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	1.37M	1.35M	590K	1.22M	277K

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	13.01M	10.05M	21.95M	11.83M	16.24M
Trading Asset Securities, Total	-	1.55M	-	-	-
Total Cash And Short Term Investments	13.01M	11.6M	21.95M	11.83M	16.24M
Accounts Receivable, Total	3.6M	2.66M	6.05M	5.72M	7.75M
Other Receivables	6.01M	3.24M	3M	9.2M	6.38M
Notes Receivable	-	-	-	-	-
Total Receivables	9.6M	5.9M	9.06M	14.92M	14.12M
Inventory	44.3M	61.4M	58.38M	66.46M	77.82M
Prepaid Expenses	-	4.21M	4.13M	3.82M	4.84M
Other Current Assets, Total	484K	585K	394K	1.08M	771K
Total Current Assets	67.4M	83.7M	93.92M	98.09M	114M
Gross Property Plant And Equipment	105M	118M	132M	160M	188M
Accumulated Depreciation	-17.98M	-23.43M	-29.4M	-38.45M	-53.35M
Net Property Plant And Equipment	87.42M	94.7M	103M	121M	134M
Long-term Investments	990K	1.07M	1.26M	1.97M	1.86M
Goodwill	158M	171M	174M	195M	211M
Other Intangibles, Total	17.54M	16.09M	16.25M	18.22M	23.83M
Deferred Tax Assets Long-Term	5.01M	4.35M	2.82M	4.7M	6.1M
Deferred Charges Long-Term	-	-	105K	57K	18K
Other Long-Term Assets, Total	1.36M	1.02M	2.44M	3.92M	4.34M
Total Assets	338M	371M	394M	443M	495M
Liabilities
Accounts Payable, Total	23.79M	24.26M	35.96M	31.3M	50.24M
Accrued Expenses, Total	16.37M	23.86M	25.31M	27.73M	33.06M
Short-term Borrowings	-	14.95M	9.41M	7.46M	12.9M
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	19.76M	22.9M	24.31M	28.71M	31.17M
Current Income Taxes Payable	4.26M	3.64M	1.71M	1.38M	1.6M
Other Current Liabilities	7.1M	516K	783K	9.36M	8.74M
Total Current Liabilities	71.28M	90.14M	97.48M	106M	138M
Long-Term Debt	49.87M	59.9M	71.97M	96.88M	110M
Long-Term Leases	56.71M	57.78M	55.52M	66.89M	69.34M
Deferred Tax Liability Non Current	2.68M	3.26M	4.88M	6.44M	8.71M
Other Non Current Liabilities	14K	1K	-	256K	203K
Total Liabilities	181M	211M	230M	276M	326M
Common Stock, Total	11M	11M	11M	11M	11M
Retained Earnings	-2.89M	21.32M	46.01M	48.33M	44.47M
Treasury Stock	-6.91M	-6.91M	-5.34M	-5.34M	-5.34M
Comprehensive Income and Other	156M	135M	113M	113M	119M
Total Common Equity	157M	160M	164M	167M	169M
Minority Interest	110K	75K	88K	94K	69K
Total Equity	157M	160M	164M	167M	169M
Total Liabilities And Equity	338M	371M	394M	443M	495M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	33.29M	33.29M	33.39M	33.39M	33.39M
ECS Total Common Shares Outstanding	33.29M	33.29M	33.39M	33.39M	33.39M
Book Value / Share	4.71	4.81	4.92	5	5.06
Tangible Book Value	-18.5M	-26.3M	-26.33M	-46.56M	-65.34M
Tangible Book Value Per Share	-0.56	-0.79	-0.79	-1.39	-1.96
Total Debt	126M	156M	161M	200M	223M
Net Debt	113M	144M	139M	188M	207M
Debt Equivalent Oper. Leases	11.76M	72.54M	83.58M	-	103M
Minority Interest, Total (Incl. Fin. Div)	110K	75K	88K	94K	69K
Equity Method Investments, Total	990K	1.07M	-	1.97M	1.74M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Finished Goods, Total	39.58M	56.78M	58.08M	66.11M	77.56M
Inventories - Others	4.72M	4.62M	300K	343K	252K
Land - (BS)	-	-	192K	292K	292K
Buildings, Total	-	-	6.15M	6.18M	6.18M
Machinery, Total	17.77M	20.51M	26.15M	31.46M	45.48M
Full Time Employees	1.4K	1.59K	1.64K	2.18K	1.47K
Part Time Employees	-	-	-	-	2.12K
Accumulated Allowance for Doubtful Accounts (Supple)	80K	84K	66K	150K	369K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	20.87M	22.33M	26.45M	864K	-3.72M
Depreciation & Amortization - CF	22.01M	28.12M	30.98M	35.61M	41.37M
Amortization of Goodwill and Intangible Assets - (CF)	6.54M	6.42M	5.75M	5.93M	6.66M
Depreciation & Amortization, Total	28.55M	34.55M	36.73M	41.54M	48.03M
Amortization of Deferred Charges, Total - (CF)	-	-	19K	48K	38K
Asset Writedown & Restructuring Costs	14K	-8K	10K	-	-
Other Operating Activities, Total	9.68M	4.65M	1.64M	-1.58M	10.55M
Change In Accounts Receivable	-2.78M	-764K	-522K	2.47M	274K
Change In Inventories	-6.65M	-16.3M	2.13M	-6.76M	-6.5M
Change In Accounts Payable	5.27M	1.68M	13.1M	-5.32M	17.92M
Cash from Operations	54.95M	46.14M	79.55M	31.26M	66.59M
Capital Expenditure	-12.88M	-14.22M	-11.86M	-15.18M	-21.7M
Cash Acquisitions	-10.33M	-18.74M	-6.72M	-16.69M	-20.3M
Divestitures	-	-	-	52K	-
Investment in Marketable and Equity Securities, Total	-	-	-	-1.99M	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	10K	-	-	-	-
Other Investing Activities, Total	229K	-	-	-1K	-
Cash from Investing	-22.97M	-32.95M	-18.58M	-33.81M	-42M
Short Term Debt Issued, Total	-	14.95M	-	-	4.96M
Long-Term Debt Issued, Total	-	60M	10.04M	95M	15.08M
Total Debt Issued	-	74.95M	10.04M	95M	20.04M
Short Term Debt Repaid, Total	-	-	-6.14M	-1.96M	-
Long-Term Debt Repaid, Total	-17.3M	-72.11M	-32.85M	-104M	-31.77M
Total Debt Repaid	-17.3M	-72.11M	-38.99M	-94.91M	-31.77M
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-6.91M	-	-	-	-
Special Dividend Paid	-12.72M	-14.63M	-16.77M	-	-
Other Financing Activities, Total	-3.65M	-4.34M	-2.94M	-5.55M	-9.23M
Cash from Financing	-40.57M	-16.14M	-48.66M	-5.47M	-20.96M
Foreign Exchange Rate Adjustments	-	-	-417K	910K	792K
Miscellaneous Cash Flow Adjustments	-	-	-	1K	-
Net Change in Cash	-8.59M	-2.96M	11.9M	-7.11M	4.42M
Supplemental Items
Cash Interest Paid	5.19M	7.09M	4.15M	7.72M	10.66M
Cash Income Tax Paid (Refund)	-706K	5.2M	7.53M	4.52M	506K
Levered Free Cash Flow	33.65M	22.09M	55.63M	-	37.37M
Unlevered Free Cash Flow	35.57M	23.98M	58.98M	-	43.64M
Change In Net Working Capital	-806K	16.96M	-11.61M	-	-12.59M
Net Debt Issued / Repaid	-17.3M	2.83M	-28.95M	87K	-11.74M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	5.45	5.43	5.72	-	0.94
Return on Total Capital	6.41	6.42	6.83	-	1.16
Return On Equity %	13.47	14.07	16.31	-	-2.21
Return on Common Equity	13.47	14.08	16.3	-	-2.22
Margin Analysis
Gross Profit Margin %	45.65	46.4	45.68	43.63	43.98
SG&A Margin	18.14	20.88	20.49	21.97	22.96
EBITDA Margin %	11.52	11.09	11.16	4.51	4.51
EBITA Margin %	10.24	9.52	9.58	2.86	2.7
EBIT Margin %	8.32	7.87	8.23	1.53	1.39
Income From Continuing Operations Margin %	6.13	5.71	6.22	0.2	-0.73
Net Income Margin %	6.12	5.71	6.21	0.19	-0.73
Net Avail. For Common Margin %	6.12	5.71	6.21	0.19	-0.73
Normalized Net Income Margin	4.92	4.54	4.94	0.1	-0.39
Levered Free Cash Flow Margin	9.87	5.65	13.07	-	7.34
Unlevered Free Cash Flow Margin	10.43	6.13	13.85	-	8.58
Asset Turnover
Asset Turnover	1.05	1.1	1.11	-	1.08
Fixed Assets Turnover	4.24	4.3	4.31	-	3.98
Receivables Turnover (Average Receivables)	96.27	125.02	97.76	-	75.56
Inventory Turnover (Average Inventory)	4.59	3.97	3.86	-	3.95
Short Term Liquidity
Current Ratio	0.95	0.93	0.96	0.93	0.83
Quick Ratio	0.32	0.19	0.32	0.25	0.22
Operating Cash Flow to Current Liabilities	0.77	0.51	0.82	0.3	0.48
Days Sales Outstanding (Average Receivables)	3.79	2.92	3.73	-	4.83
Days Outstanding Inventory (Average Inventory)	79.48	92.02	94.53	-	92.36
Average Days Payable Outstanding	42.07	38.68	48.15	-	50.2
Cash Conversion Cycle (Average Days)	41.2	56.26	50.11	-	46.99
Long Term Solvency
Total Debt/Equity	80.49	96.98	98.07	119.79	131.88
Total Debt / Total Capital	44.59	49.23	49.51	54.5	56.88
LT Debt/Equity	67.9	73.38	77.56	98.12	105.83
Long-Term Debt / Total Capital	37.62	37.25	39.16	44.64	45.64
Total Liabilities / Total Assets	53.49	56.83	58.3	62.35	65.81
EBIT / Interest Expense	9.26	10.22	6.54	0.87	0.7
EBITDA / Interest Expense	18.59	21.67	13.39	6.18	5.49
(EBITDA - Capex) / Interest Expense	14.39	16.96	11.17	4.24	3.33
Total Debt / EBITDA	2.22	2.38	2.25	4.14	4.05
Net Debt / EBITDA	1.99	2.2	1.94	3.89	3.75
Total Debt / (EBITDA - Capex)	2.87	3.04	2.69	6.03	6.68
Net Debt / (EBITDA - Capex)	2.57	2.81	2.32	5.67	6.2
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	19.85	14.75	8.85	-	14.37
Gross Profit, 1 Yr. Growth %	24.81	16.63	7.16	-	15.27
EBITDA, 1 Yr. Growth %	36.48	10.45	9.48	-	14.26
EBITA, 1 Yr. Growth %	37.09	6.69	9.56	-	7.68
EBIT, 1 Yr. Growth %	45.7	8.65	13.75	-	3.63
Earnings From Cont. Operations, 1 Yr. Growth %	77.77	6.87	18.62	-	-522.87
Net Income, 1 Yr. Growth %	78.21	6.98	18.45	-	-530.9
Normalized Net Income, 1 Yr. Growth %	97.21	5.92	18.35	-	-553.18
Diluted EPS Before Extra, 1 Yr. Growth %	67.57	6.45	19.7	-	-530.88
Accounts Receivable, 1 Yr. Growth %	3.24	-26.05	127.44	-	35.35
Inventory, 1 Yr. Growth %	21.78	38.61	-4.91	-	17.1
Net Property, Plant and Equip., 1 Yr. Growth %	19.31	8.34	8.84	-	10.77
Total Assets, 1 Yr. Growth %	8.09	10.04	6.14	-	11.61
Tangible Book Value, 1 Yr. Growth %	63.65	42.15	0.08	-	40.35
Common Equity, 1 Yr. Growth %	2.45	2.18	2.5	-	1.36
Cash From Operations, 1 Yr. Growth %	31.26	-16.04	72.43	-	113.05
Capital Expenditures, 1 Yr. Growth %	44.47	10.39	-16.55	-	43
Levered Free Cash Flow, 1 Yr. Growth %	42.22	-34.35	151.77	-	-
Unlevered Free Cash Flow, 1 Yr. Growth %	33	-32.58	145.96	-	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	17.56	17.27	11.76	-	-
Gross Profit, 2 Yr. CAGR %	19.28	20.65	11.79	-	-
EBITDA, 2 Yr. CAGR %	38.53	22.78	9.96	-	-
EBITA, 2 Yr. CAGR %	39.38	20.94	8.11	-	-
EBIT, 2 Yr. CAGR %	51.32	25.82	11.17	-	-
Earnings From Cont. Operations, 2 Yr. CAGR %	163.21	37.83	12.59	-	-
Net Income, 2 Yr. CAGR %	165.05	38.07	12.57	-	-
Normalized Net Income, 2 Yr. CAGR %	161.3	44.53	11.96	-	-
Diluted EPS Before Extra, 2 Yr. CAGR %	149	33.56	12.88	-	-
Accounts Receivable, 2 Yr. CAGR %	5.07	-12.62	29.69	-	-
Inventory, 2 Yr. CAGR %	16.69	29.92	14.81	-	-
Net Property, Plant and Equip., 2 Yr. CAGR %	23.97	13.69	8.59	-	-
Total Assets, 2 Yr. CAGR %	9.89	9.06	8.07	-	-
Tangible Book Value, 2 Yr. CAGR %	-47.78	52.52	19.28	-	-
Common Equity, 2 Yr. CAGR %	26.31	2.31	2.34	-	-
Cash From Operations, 2 Yr. CAGR %	17.95	4.98	20.32	-	-
Capital Expenditures, 2 Yr. CAGR %	42.2	26.29	-4.02	-	-
Levered Free Cash Flow, 2 Yr. CAGR %	-	-3.37	28.57	-	-
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-5.31	28.78	-	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	16.61	14.39	-	-
Gross Profit, 3 Yr. CAGR %	-	18.39	15.98	-	-
EBITDA, 3 Yr. CAGR %	-	28.46	18.18	-	-
EBITA, 3 Yr. CAGR %	-	27.5	17.02	-	-
EBIT, 3 Yr. CAGR %	-	35.5	21.66	-	-
Earnings From Cont. Operations, 3 Yr. CAGR %	-	94.9	31.1	-	-
Net Income, 3 Yr. CAGR %	-	95.88	31.2	-	-
Normalized Net Income, 3 Yr. CAGR %	-	93.38	35.22	-	-
Diluted EPS Before Extra, 3 Yr. CAGR %	-	87.58	28.77	-	-
Accounts Receivable, 3 Yr. CAGR %	-	-6.54	20.2	-	-
Inventory, 3 Yr. CAGR %	-	23.58	17.08	-	-
Net Property, Plant and Equip., 3 Yr. CAGR %	-	18.52	12.05	-	-
Total Assets, 3 Yr. CAGR %	-	9.94	8.08	-	-
Tangible Book Value, 3 Yr. CAGR %	-	-27.09	32.54	-	-
Common Equity, 3 Yr. CAGR %	-	17.7	2.38	-	-
Cash From Operations, 3 Yr. CAGR %	-	5.32	23.86	-	-
Capital Expenditures, 3 Yr. CAGR %	-	30.69	10	-	-
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	32.97	-	-
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	30.17	-	-