Tcm Group As · OMXCOP:TCM
Tcm Group As — Q4 2020 Earnings Presentation
10 slides from Tcm Group As's earnings presentation, Feb 24, 2021
Slide 1: TCM Group A/S Interim Report October-December 2020
TCM Group A/S Interim Report October-December 2020 February 24, 2021
Slide 2: Business update Q4 2020
Business update Q4 2020 ❑ Growth driven by the Danish market primarily within Nettoline and kitchn.dk ❑ The Danish kitchen market has been resilient despite Covid-19 ❑ Number of branded stores (Svane/Tvis) was 69 (68). ❑ Nettoline Skive opened during Q4 2020 bringing the total number of branded Nett
Slide 3: Capital structure
Capital structure ❑ Strong cash generation and strong financial position ❑ Balancing the capital structure Board recommendation for the AGM: ❑ Ordinary dividend of 5.50 DKK per share (totaling 55mDKK) corresponding to 54% of Net profit ❑ Extraordinary dividend of 7.50 DKK per share (totaling 75mDKK)
Slide 4: Revenue growth in Q4 of 0.5%
Revenue growth in Q4 of 0.5% Revenue 263 mDKK (262 mDKK) Cash conversion 0.5% 85.8% revenue growth (99.9%) NWC ratio Adjusted EBIT -11.4% 36 mDKK (-10.8%) (43 mDKK) EBIT 33 mDKK (39 mDKK) 4
Slide 5: Q4 revenue growth driven by the Danish business
Q4 revenue growth driven by the Danish business 2020 2019 2020 2019 Oct-Dec Oct-Dec Jan-Dec Jan-Dec Net revenue (mDKK) 263 262 1,025 1,007 - Organic growth 0.5% 1.8% 0.9% growth Q4 comments: in DK revenue ❑ Revenue growth in Denmark was +0.9% ❑ Growth in Denmark driven by Nettoline and our e- commer
Slide 6: P&L highlights
P&L highlights 2020 2019 2020 2019 Oct-Dec Oct-Dec Jan-Dec Jan-Dec Net revenue (mDKK) 263 262 1,025 1,007 - Gross Margin 26.8% 28.9% 26.6% 27.8% Adjusted EBIT (mDKK) 36 43 140 154 - Adjusted EBIT margin 13.8% 16.6% 13.6% 15.3% Q4 comments: ❑ Gross margin was negatively impacted by a change in sales
Slide 7: NWC ratio improved vs LY supported by stimulus packages
NWC ratio improved vs LY supported by stimulus packages 2020 2019 Dec Dec Net working capital (mDKK) -117 -109 NWC ratio -11.4% -10.8% NIBD (mDKK) -43 52 Leverage (x EBITDA) -0.2 0.3 Q4 comments: ❑ NWC impacted favourably by stimulus packages of c. 15mDKK ❑ Higher level of inventories due to increas
Slide 8: High cash conversion continued
High cash conversion continued 2020 2019 2020 2019 Oct-Dec Oct-Dec Jan-Dec Jan-Dec Operating profit (mDKK) 33 39 135 147 Depreciation and amortization (mDKK) 5 5 21 21 Change in NWC (mDKK) 34 36 7 15 Tax a.o (mDKK) -25 -31 -31 -35 Capex excl. acquisitions (mDKK) -17 -6 -31 -14 Free cash flow excl. a
Slide 9: Financial outlook 2021
Financial outlook 2021 TCM Group ❑ Net revenue: 1,040-1,100mDKK, corresponding to organic growth on the continuing business excluding the divestment of the Svane store in Copenhagen of 4-10% ❑ EBIT: 145-160mDKK (EBIT excluding non-recurring items) 9
Slide 10: Q&A
Q&A