Rusta reported first-quarter results for fiscal 2026/27, covering May through July 2026, on September 9, 2026. Net sales rose 9.9% year over year to SEK 3,489 million, with organic growth of 8.7% after adjusting for currency effects. Like-for-like sales increased 2.2% excluding currency effects.
Gross profit increased 14.5% to SEK 1,546 million, lifting the gross margin by 1.7 percentage points to 44.3%. EBITA rose 17.6% to SEK 330 million, and the EBITA margin improved to 9.5% from 8.8% a year earlier. Operating expenses fell by 0.3 percentage point as a share of sales to 32.9%.
Operating cash flow rose 60.7% to SEK 758 million from SEK 472 million in the prior-year period. Net working capital declined to SEK 1,243 million from SEK 1,423 million, representing 10% of last-twelve-months sales compared with 12% previously. Rusta ended the quarter with net cash of SEK 587 million, excluding IFRS 16 lease liabilities, versus SEK 123 million a year earlier, a net cash-to-EBITDA ratio of -0.57x. The company estimates its ERP system implementation investment at about SEK 80 million.
Rusta operates 248 stores across Sweden, Norway, Finland and Germany and has 40 additional locations signed or approved. It plans to open 65 to 80 new stores over the three-year period from fiscal 2026/27 through 2028/29. Fourteen stores are in the pipeline for fall 2026, with three opened in August and one in September. A store concept renewal launched in fall 2025, with phase two rolling out in September 2026; the renewal supported sales growth of 1.5 to 2.0 percentage points after implementation.
In Sweden, sales grew 6.6%, with like-for-like growth of 2.4%, and the EBITA margin rose 2.4 percentage points to 21.4%. Norway sales increased 7.0%, with like-for-like growth of 3.2%, and the EBITA margin improved 1.8 percentage points to 13.7%. Finland, Germany and online sales grew 13.2%, while the EBITA margin in those markets rose 2.5 percentage points to 6.2%. The pipeline includes 16 locations in Sweden, six in Norway, 15 in Finland and three in Germany.
Rusta outlined medium-term targets of about 8% average annual organic net sales growth, like-for-like growth above 3%, an EBITA margin around 8% and a dividend payout of 30% to 50% of net profit. CEO Cathrine Wigzell said the company will continue investing in competitive pricing to gain market share, even if that means passing some currency benefits to customers rather than retaining all margin gains. She described Finland as a long-term priority, with a focus on improved brand awareness, sharper product offerings and enhanced communication through the Club Rusta loyalty program.
Shares traded 2.96% higher at $83.45, about 47% above the 52-week low of $58.85 and roughly 20% below the 52-week high of $104.80.
