Rusta Management
Management criteria checks 4/4
Rusta's CEO is Goran Westerberg, appointed in Jan 2012, has a tenure of 14.25 years. total yearly compensation is SEK10.30M, comprised of 58.3% salary and 41.7% bonuses, including company stock and options. directly owns 2.99% of the company’s shares, worth SEK465.34M. The average tenure of the management team and the board of directors is 6.3 years and 5.8 years respectively.
Key information
Goran Westerberg
Chief executive officer
SEK 10.3m
Total compensation
| CEO salary percentage | 58.25% |
| CEO tenure | 14.3yrs |
| CEO ownership | 3.0% |
| Management average tenure | 6.3yrs |
| Board average tenure | 5.8yrs |
Recent management updates
Recent updates
RUSTA: Rapid Nordic Store Expansion Will Heighten Risk Of Overextended Valuation
Analysts have largely maintained their SEK 92.50 fair value estimate for Rusta, making only very small adjustments to the discount rate, revenue growth, profit margin and future P/E inputs to reflect fine tuning in their valuation work. What's in the News Rusta opened its first new store of the spring in Heinola, Finland, kicking off a broader rollout across the Nordic region (Key Developments).RUSTA: Nordic Store Rollout And Steady Metrics Will Support Balanced Outlook
Analysts have kept Rusta's fair value estimate steady at SEK 92.50, with only small model tweaks to the discount rate, revenue growth, profit margin and future P/E assumptions. Taken together, these adjustments leave their overall price target effectively unchanged.RUSTA: Nordic Store Openings And Higher P/E Assumptions Will Support Steady Outlook
Analysts have lifted their price target on Rusta to SEK 92.50, with the change mainly tied to a higher assumed future P/E multiple, while discount rate, revenue growth, and profit margin expectations remain broadly unchanged. What's in the News Rusta has opened its first new store of the spring in Heinola, Finland, kicking off its latest round of expansion (Key Developments).RUSTA: Ongoing Nordic Store Expansion Will Support A Steady Fair Value Outlook
Analysts have raised their price target on Rusta from SEK 87.50 to SEK 92.50, citing updated assumptions around fair value, discount rate, revenue growth, profit margins and future P/E levels. What's in the News Rusta has opened its first new store of the spring in Heinola, Finland, as part of its current expansion program.RUSTA: Store Expansion And Planned CEO Succession Will Support Steady Fair Value Outlook
Analysts are maintaining their SEK 87.50 price target on Rusta, noting only minor adjustments to discount rate, revenue growth, profit margin and future P/E assumptions that broadly offset each other in their valuation work. What's in the News Rusta is opening its first new store of the spring in Heinola, Finland, as part of a plan to add 13 new stores across Sweden, Norway and Finland in the first half of the year (Key Developments).RUSTA: Planned CEO Succession And Stable Assumptions Will Support Steady Fair Value Outlook
Analysts have kept their price target for Rusta steady at €87.50, with only minor tweaks to the discount rate and long term P/E assumption. These changes reflect updated risk and valuation inputs rather than a fundamental shift in the outlook.RUSTA: Planned CEO Transition Will Support Steady Outlook At Current Fair Value
Analysts have kept their fair value estimate for Rusta steady at €87.50, making only slight tweaks to the discount rate, long term revenue growth, profit margin and future P/E assumptions. This reflects a view that their previous price target already captured the current outlook.RUSTA: Leadership Transition Will Support Steady Nordic Expansion At Current Fair Value
Analysts have maintained their fair value estimate for Rusta at €87.50. They cite relatively stable assumptions on revenue growth, profit margins, and future P/E, which offset a slightly higher discount rate in their updated pricing work.RUSTA: Upcoming Leadership Change Will Support Steady Nordic Expansion And Margins
Analysts have trimmed their price target on Rusta slightly to €87.50 from €87.50, citing a marginally lower assumed future P/E multiple while largely maintaining views on growth, profitability and risk. What's in the News Rusta AB appoints Cathrine Wigzell as new CEO, effective June 1, 2026, bringing extensive international retail leadership experience from H&M Beauty, KICKS, and Åhléns (company announcement) Current CEO Göran Westerberg to step down by the end of June 2026, providing a defined and extended transition period for leadership handover (company announcement) Wigzell’s background in market expansion and assortment strategy at H&M Beauty is expected to support Rusta’s growth ambitions and brand strengthening efforts (company announcement) Valuation Changes Fair Value: Unchanged at €87.50 per share, indicating no revision to the headline valuation level.RUSTA: Leadership Transition Will Support Future Nordic Expansion And Margin Improvement
Analysts have lifted their price target on Rusta from SEK 75.00 to SEK 87.50. This reflects increased confidence in slightly faster revenue growth, improving profit margins and a modestly higher justified future P/E multiple.RUSTA: Nordic Store Openings And Expansion Forecast Will Sustain Steady Performance
Analysts have reaffirmed their price target for Rusta at SEK 75.00. They cite unchanged fair value expectations and only minor shifts in underlying assumptions such as discount rate and profit margin.RUSTA: Ongoing Nordic Store Expansion Will Drive Stronger Earnings Ahead
Narrative Update: Rusta Price Target Raised Analysts have increased their fair value estimate for Rusta from SEK 70 to SEK 75, citing improved confidence in profit margins and future earnings potential. This change comes despite only modest adjustments to growth expectations.Rusta (STO:RUSTA) Has Announced That It Will Be Increasing Its Dividend To SEK1.45
Sep 20
Rusta AB (publ) Just Missed Earnings - But Analysts Have Updated Their Models
Sep 14Upcoming Store Expansion And Supply Chain Investments Will Increase Future Market Reach
Rusta’s consensus price target has been revised down to SEK70.00, primarily reflecting weaker expected revenue growth and a significant decrease in projected future P/E multiple. What's in the News Rusta AB (publ) announced an annual dividend of SEK 1.45 per share, with a proposed record date of September 23, 2025, and payment expected on September 26, 2025.Rusta (STO:RUSTA) Is Paying Out A Larger Dividend Than Last Year
Sep 01Upcoming Store Expansion And Supply Chain Investments Will Increase Future Market Reach
The increase in Rusta's consensus analyst price target is primarily underpinned by a modest rise in its future P/E multiple while the discount rate remains stable, leading to a higher fair value estimate of SEK87.50. What's in the News Rusta announced an annual dividend of SEK 1.45 per share, payable on September 26, 2025.Rusta's (STO:RUSTA) Shareholders Will Receive A Bigger Dividend Than Last Year
Aug 18Solid Earnings Reflect Rusta's (STO:RUSTA) Strength As A Business
Jun 24Rusta AB (publ) Just Missed EPS By 6.3%: Here's What Analysts Think Will Happen Next
Jun 20Does Rusta (STO:RUSTA) Have A Healthy Balance Sheet?
Jun 16Rusta AB (publ)'s (STO:RUSTA) 25% Jump Shows Its Popularity With Investors
May 10Rusta AB (publ) (STO:RUSTA) Just Reported Third-Quarter Earnings: Have Analysts Changed Their Mind On The Stock?
Mar 16
Store Expansion And Automation Will Improve Efficiency By 2026 Amid Shift To Low-Price Options
Strategic store expansions and favorable lease opportunities are expected to drive revenue growth and improve net margins through increased consumer reach and cost-effective operations.We Think Rusta's (STO:RUSTA) Profit Is Only A Baseline For What They Can Achieve
Dec 21Rusta AB (publ) (STO:RUSTA) Just Released Its Second-Quarter Results And Analysts Are Updating Their Estimates
Dec 13Rusta's (STO:RUSTA) Solid Earnings Are Supported By Other Strong Factors
Jun 21Rusta AB (publ) (STO:RUSTA) Released Earnings Last Week And Analysts Lifted Their Price Target To kr91.67
Jun 16These 4 Measures Indicate That Rusta (STO:RUSTA) Is Using Debt Reasonably Well
Apr 22CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Jan 31 2026 | n/a | n/a | SEK 541m |
| Oct 31 2025 | n/a | n/a | SEK 468m |
| Jul 31 2025 | n/a | n/a | SEK 419m |
| Apr 30 2025 | SEK 10m | SEK 6m | SEK 476m |
| Jan 31 2025 | n/a | n/a | SEK 453m |
| Oct 31 2024 | n/a | n/a | SEK 438m |
| Jul 31 2024 | n/a | n/a | SEK 450m |
| Apr 30 2024 | SEK 10m | SEK 6m | SEK 408m |
| Jan 31 2024 | n/a | n/a | SEK 402m |
| Oct 31 2023 | n/a | n/a | SEK 360m |
| Jul 31 2023 | n/a | n/a | SEK 305m |
| Apr 30 2023 | SEK 7m | SEK 5m | SEK 261m |
Compensation vs Market: Goran's total compensation ($USD1.11M) is about average for companies of similar size in the Swedish market ($USD1.28M).
Compensation vs Earnings: Goran's compensation has been consistent with company performance over the past year.
CEO
Goran Westerberg (54 yo)
14.3yrs
Tenure
SEK 10,300,000
Compensation
Mr. Goran Westerberg is Chief Executive Officer of Rusta AB (publ) since 2012. He is a Board member of Eleiko Group AB. He held various roles in IKEA, e.g. Regional Manager South Asia.COO in Nobia. He ser...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chief Executive Officer | 14.3yrs | SEK 10.30m | 2.99% SEK 465.3m | |
| Director & Co-founder | no data | SEK 600.00k | no data | |
| Co-founder and Co-Owner | no data | SEK 500.00k | no data | |
| Chief Financial Officer | 4.3yrs | no data | 0.031% SEK 4.9m | |
| Investor Relations Manager | no data | no data | no data | |
| Chief Marketing Officer | 9.3yrs | no data | 0.028% SEK 4.3m | |
| Chief Sales Officer | 8.3yrs | no data | 0.14% SEK 21.1m | |
| Chief Human Resource Officer | less than a year | no data | no data | |
| Chief Purchasing Officer | 3.3yrs | no data | 0.015% SEK 2.3m | |
| Chief Business Development Officer | 7.3yrs | no data | 0.019% SEK 2.9m | |
| Chief Supply Chain Officer | 6.3yrs | no data | 0.016% SEK 2.5m | |
| Chief Range Officer | 4.3yrs | no data | 0.020% SEK 3.2m |
6.3yrs
Average Tenure
50yo
Average Age
Experienced Management: RUSTA's management team is seasoned and experienced (6.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Director & Co-founder | 40.3yrs | SEK 600.00k | no data | |
| Independent Director | 10.3yrs | SEK 500.00k | 0.0070% SEK 1.1m | |
| Independent Director | 4.3yrs | SEK 500.00k | no data | |
| Independent Director | 17.3yrs | SEK 500.00k | no data | |
| Director | less than a year | no data | no data | |
| Independent Chair of the Board | 1.3yrs | SEK 300.00k | 0.0018% SEK 286.2k | |
| Director | 7.3yrs | SEK 600.00k | no data | |
| Director | 4.3yrs | SEK 500.00k | 0.00070% SEK 108.9k |
5.8yrs
Average Tenure
60yo
Average Age
Experienced Board: RUSTA's board of directors are considered experienced (5.8 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/04/30 17:38 |
| End of Day Share Price | 2026/04/30 00:00 |
| Earnings | 2026/01/31 |
| Annual Earnings | 2025/04/30 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Rusta AB (publ) is covered by 4 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Daniel Schmidt | Danske Bank |
| Simen Mortensen | DNB Carnegie |
| Simen Aas | DNB Carnegie |