Musti’s operating profit is down

Musti Group increased its turnover to 560.6 mio euros in the financial year 2024. In 2023, the leading pet retailer in the Nordic countries generated 425 mio euros. The significant increase in sales in 2024 can be explained by the 15-month business period, which makes it difficult to compare with 2023, but also by the acquisition of Estonian Pet City and Pet City Clinic, expanding its operations into the Baltic countries. In terms of like-for-like sales growth, there was only a meagre increase of 1.1 per cent in 2024, compared to 9.5 per cent in the previous year.

Nevertheless, CEO David Rönnberg is satisfied with the annual result: “2024 was another transformative year for Musti in a tough trading environment. We grew market share and increased the number of pet parents we support in our historic markets and extended our reach into the Baltics increasing our growth opportunity for 2025 and beyond.” However, the Musti boss is disappointed with the decline in operating profit from 37.8 mio euros in 2023 to 16.2 mio euros.