Slide 1: Kid ASA Q3 2018
Kid ASA 14 November 2018 Q3 2018 Presentation available at investor.kid.no
Slide 2: Highlights Q3 2018
Highlights Q3 2018 • Revenues increased by 7.1% compared to Q3 2017 • Gross margin of 63.1% (60.8%) • EBITDA of MNOK 78.9 (MNOK 60.5), representing an EBITDA margin of 21.4% (17.6%) • NIBD/EBITDA of 1.6 (2.1) • No changes in the store portfolio during the quarter. Four new stores will open during Q4
Slide 3: Revenues and market share
Revenues and market share Q3 revenues increased by 7.1% (9.5%) Revenue Market growth (LTM) • Slow July, but strong August and September 8,3 % 8,2 % • Like-for-like growth of 5.6% (5.1%) including online 506 sales 6,8 % 6,8 % 6,5 % • Online sales growth of 102.1% (35.9%), driven by 5,7 % “Made to mea
Slide 4: Operational focus
Operational focus Operational focus: • Anders Fjeld new CEO from 1 November 2018. Henrik Frisell new CFO from 1 January 2019. • Curtains show positive category growth again due to shift in interior trends • Launched a renewed version of our Children category under our new brand “KidsKids” • Increase
Slide 5: Gross margin
Gross margin Gross margin increase of 2.3 pp in Q3 (IFRS9) Gross margins in 2017 and 2018 • Gross margin was 63.1% for the quarter, an 61,6% 61,5% 60,8% 63,1% 59,9% 58,4% 58,4% increase of 2.3 pp from Q3 2017 • Gross margin positively impacted by favourable USDNOK hedging position Q1 Q2 Q3 Q4 2017 2
Slide 6: EBITDA
EBITDA EBITDA margin of 21.4% (17.6%) in Q3 EBITDA 2017 and 2018 • Employee benefits-related expenses increased by 0.1% in Q3 2018 • No impact from net new stores 125,2 • -1.1 percentage points due to general salary inflation and decreased staffing level in stores. The store staffing level was reduc
Slide 7: Income statement
Income statement Income statement Amounts in MNOK Q3 Q3 Q1-Q3 Q1-Q3 FY 2018 2017 2018 2017 2017 Revenue 368,1 343,8 924,5 876,1 1 381,7 COGS -135,8 -134,9 -358,7 -343,8 -547,6 Net profit margin of 13.9% (10.6%) in Q3 Gross profit 232,3 209,0 565,9 532,4 834,0 Gross margin (%) 63,1 % 60,8 % 61,2 % 60
Slide 8: Cash flow
Cash flow Cash flow Amounts in MNOK Q3 2018 Q3 2017 Q1-Q3 2018 Q1-Q3 2017 FY 2017 Net cash flow from operations 83,0 22,9 8,5 -73,5 118,1 Net cash flow from investments -4,9 -8,3 -23,9 -39,1 -47,1 Net cash flow from financing -53,7 -51,5 -13,8 -139,1 -233,6 NIBD/EBITDA of 1.6 (2.1) per 30.09.2018 Ne
Slide 9: Operational initiatives
Operational initiatives Mid-term objectives unchanged • Strong pipeline for new stores. Jærhagen (Klepp), Lagunen (Bergen) and City Lade (Trondheim) opens during Q4-2018. CC Vest (Akershus) will open during Q1-2019 • Stores in Kløverhuset (Bergen) and Laksevåg (Bergen) will close during Q1-2019. The
Slide 10: Half-year dividend
Half-year dividend Dividend of NOK 1.2 per share • The Board of Directors has made a decision to pay a half- year dividend of NOK 1.20 per share for 2017 (35% of adjusted net income* for last twelve months) • The dividend is in line with the current dividend policy whereby 60-70% of annual adjusted
Slide 11: Questions
QzA Kid INTERIOR