Matas sets sales record with Swedish acquisition

Matas experienced its best year ever in sales, thanks to the acquisition of the Swedish beauty chain Kicks and overall growth. The group achieved a record EBIT before special items of over one billion Danish kroner in the fiscal year 2023/2024, marking the first time this milestone has been reached. Annual sales hit 6.7 billion kroner, nearly a 50% increase from the previous record of 4.5 billion. Despite the success, net earnings fell to 169 million kroner from 281 million the previous year. Adding over 200 stores from Sweden, Norway, and Finland, Matas saw sales surge towards the year’s end. CEO Gregers Wedell-Wedellsborg labels the year a significant milestone, with Matas becoming the Nordic market leader after acquiring Kicks. Matas welcomes a new growth strategy,