Mytaste Group

Research note


myTaste: Preview Q1, acquisition-driven growth

myTaste will present their report for the first quarter of 2018 on Thursday the 17th of May. We will focus on the development of the earlier acquisitions, discussion about what the future holds and about he announced management changes.

For the Q1, we expect net sales of SEK 13.5m with an EBITDA of SEK 3.1. Compared to Q4 OutletSverige will have been consolidated during the full period. The growth will primarily be driven by the earlier acquisitions of Kampanjjakt, AlltiodRea, and OutletSverige, but also likely the organic development of Shopello. Q1 is usually less affected by the seasonality pattern and most often a weaker quarter compared to the period ending the year. We believe the acquired companies will boost the profit and project an EBITDA of SEK 3.1m; overall we do not expect to see any larger non-recurring cost effects.

Just recently myTaste announced that the current COO and co-founder, Andereas Friis, will take on the position as the Group CEO. Current managing director and co-founder, Jonas Söderqvist, will take up Andereas role as COO.  Andereas will focus on marketing the myTast Group and its network of sites in the context of the new focus towards e-commerce. Our current Base-case stand at 5.4 SEK per share.

Download our latest Research Report from 2018-09-06

Download full report icon-download