Tokmanni grew, but the result was left out of expectations

Cheap shop Tokmanni published his last quarter of last year’s interim report and financial statements. The result exceeded the forecasts of analysts.

Tokmanni’s net sales rose to EUR 496.9 million from EUR 471.2 million from October to December last year. Information service Factsetin According to the six analysts’ forecasts, a turnover of EUR 490.5 million overwhelmed.

Adjusted operating profit rose to EUR 47.5 million from EUR 46.2 million in the comparison period. An average of EUR 49.6 million expected analysts.

The earnings per share were EUR 0.50, compared with EUR 0.44 during the comparison period. The average forecasts of Factset’s four analysts expected EUR 0.53.

The Tokmanni Board of Directors proposes that last year’s earnings be paid a dividend per share of up to EUR 0.68 in two installments. For 2023, EUR 0.76 was paid. The expectations were EUR 0.70.

Guide the growth

For the whole year, net sales were EUR 1,675.0 million, of which the adjusted operating profit accounted for 6.0 %, or EUR 99.7 million.

The analysts expected an average of EUR 1,668.9 million and EUR 102.3 million, or 6.1 % profitability. In 2023, net sales were EUR 1,392.7 million and comparable operating profit of EUR 98.8 million, or 7.1 per cent.

The company advises that this year’s turnover would be EUR 1 720-1820 million and comparable operating profit of EUR 100-130 million.

According to Factset, analysts expected on average before the earnings announcement that the company would make a turnover of EUR 1,754.6 million and EUR 121.0 million this year.

Synergy benefits were a bit of a goals

“Customer purchasing behavior was still cautious, which was reflected in a smaller amount of products in the shopping cart and the importance of promotional products and grocery,” CEO Mika Rautiainen comment on the fourth quarter in the review.

According to the CEO, as a result, the Group’s comparable sales margin decreased to 35.7 % from 36.5 %.

According to Rautiainen, Tokmanni and Dollarstore’s customer numbers increased strongly towards the end of the year. Dollarstore is a Swedish discount store chain bought in 2023.

The CEO says Tokmann and Dollarstore’s integration is progressing according to plans. The synergies achieved by the end of December 2024 were EUR 13.3 million per year, compared with more than EUR 15 million annual synergies by the end of this year.

“We are constantly increasing common purchases, especially in consumer goods, which brings new products, especially to the dollars segment.”

The first Spar products will come by summer

Early in the year, Tokmanni said he would start cooperation with the Spar store chain. The products were on sale in Tokmanni stores, but there are also plans to open Spar food stores.

There was hardly any new information about Rautiainen on the subject.

“This is a long-term collaboration that will improve the competitiveness of the Tokmanni Group in many different areas. The first Spar products will be seen at all Tokmanni stores by summer. ”

According to Rautiainen, the company will continue to expand to new locations in all our market areas, and the company is constantly exploring the expansion to the new market.