Slide 1: Kid ASA Q2 2024 presentation
Kid asa Q2 2024 presentation
Slide 2: Second quarter in brief
Second quarter in brief • Group revenues increased by 10.2% (-0.8%) to MNOK 797.8. In constant currency: • Group revenues increased by 10.6% (-2.5%) • LFL revenues increased by 9.2% (-3.3%) • Online revenues increased by 9.8% (+9.3%) • Gross margin increased by 1.0 percentage points to 63.2% • EBITD
Slide 3: Second quarter in brief
Second quarter in brief • Fourth consecutive quarter with double-digit reported revenue growth • Categories launched since 2022 accounted for MNOK 22.5 (MNOK 12.1) in revenues • The Extended concept progresses satisfactorily in Hemtex after launch in first quarter 2024 • Made-to-measure technical su
Slide 4: Pilot and test European markets under the Hemtex brand
Pilot and test European markets under the Hemtex brand • General acceptance for the Kid concept is positive in the Nordics • Preliminary market studies support that our concept and products have a potential outside the current markets • German-language website will be launched with local marketing i
Slide 5: Group revenues Q2 increased by 10.2% to MNOK 797.8
1,253 831 485 Group revenues Q2 increased by 10.2% to MNOK 797.8 605 696 724 798 297 313 259 273 220 769 • In constant currency: 386 438 451 500 518 • Group revenues increase of 10.6% (-2.5%) 2023 2024 2023 2024 2023 2024 2023 2024 Q1 Q2 Q3 Q4 • Group like-for-like revenues increase of 9.2% (-3.3%)
Slide 6: Robust gross margin
Robust gross margin • Group gross margin was 63.2% for the quarter, up 1.0pp compared to Q2-23 • Kid Interior gross margin increased by 0.2pp to 63.3% (63.1%) 63.4 % 63.2 % 62.4 % 62.2 % 62.1 % 61.5 % 59.4 % • Hemtex gross margin increased by 2.5pp to 63.2% (60.7%) 56.0 % • Strong gross margin resul
Slide 7: OPEX-to-sales (excl. IFRS 16) of 50.7% (51.1%)
376 305 304 283 285 275 156 OPEX-TO-SALES (excl. IFRS 16) of 50.7% (51.1%) 122 126 122 125 114 • Employee benefit expenses increased by MNOK 17.3 179 180 220 161 162 161 • General salary increase and increased number of working hours in stores, in addition to store project activity and net new store
Slide 8: EBITDA by quarter, Kid Interior and Hemtex
420 144 241 202 167 74 55 125 45 275 33 57 146 167 5 121 92 52 2023 2024 2023 2024 2023 2024 2023 2024 Q1 Q2 Q3 Q4 Kid Interior Hemtex 8 Kid ASA – Q2 presentation
Slide 9: Cash flow development in Q2
Cash flow development in Q2 • Cash flow from operations affected by planned inventory build-up during the quarter • Cash flow from investments reflects mainly CAPEX relating to store openings and projects • Cash flow from financing represents lease payments, net interests, use of credit facilities a
Slide 10: Robust financial position
Robust financial position • Cash and available credit facilities of MNOK 1,113.7 357.5 357.5 (MNOK 175.9), including an unused term- 247.0 202.5 loan facility of MNOK 125 related to investments in 30.0 230.0 756.2 125.0 the Swedish warehouse 44.5 200.0 125.0 - • Net interest-bearing debt excl. IFRS
Slide 11: Store projects completed in 2024 and signed
275* Completed 2024 per quarter-end Signed, but not yet completed NO: Værste, Fredrikstad (Q4-24) NO: Oslo City NO: Grünerløkka (Q2-25) New stores NO: Egersund NO: Bryn (Q2-25) SE: Vetlanda SE: 1 store** 103* SE: Ringen, Stockholm FI: 1 store** NO: 2 stores Closures SE: 4 stores 7 NO: 6 stores NO: 4
Slide 12: In H2-24, five store projects in Kid Interior and two in Hemtex
• In H2-24, we have five store projects in Kid Interior and two in Hemtex. These projects include a combination of refurbishment, enlargement and relocations • Monitoring the freight situation closely. Expect limited impact from delays 12 Kid ASA – Q2 presentation
Slide 13: Appendix
Kid ASA – Q2 presentation 13
Slide 14: Kid Interior
KID Interior (Amounts in NOK millions) Q2 2024 Q2 2023 H1 2024 H1 2023 FY 2023 Revenue 500.4 450.7 938.1 836.6 2,122.9 Revenue growth 11.0 % -1.1% 12.1 % 1.7 % 7.0 % LFL growth including online sales 9.5 % -2.0% 11.1 % 0.5 % 6.1 % COGS -183.8 -166.4 -352.1 -338.6 -796.2 Gross profit 316.6 284.3 586.
Slide 15: Hemtex
Hemtex (Amounts in NOK millions) Q2 2024 Q2 2023 H1 2024 H1 2023 FY 2023 Revenue 297.4 273.4 556.2 492.9 1,290.7 Revenue growth ¹ 9.9 % -4.8% 11.9 % -7.7% 3.2 % LFL growth including online sales ¹ 8.7 % -5.4% 11.6 % -5.9% 4.4 % COGS -109.6 -107.4 -209.5 -201.5 -518.0 Gross profit 187.8 166.0 346.7 2
Slide 16: Group income statement
(Amounts in NOK thousand) Q2 2024 Q2 2023 H1 2024 H1 2023 FY 2023 Revenue 797.8 724.1 1,494.3 1,329.5 3,413.6 COGS -293.4 -273.8 -561.6 -540.0 -1,314.3 Gross profit 504.5 450.3 932.7 789.5 2,099.3 Gross margin (%) 63.2 % 62.2 % 62.4 % 59.4 % 61.5 % Other operating revenue 1.3 1.0 2.2 1.6 4.3 OPEX -3
Slide 17: Balance sheet
(Amounts in NOK thousand) Note 30.06.2024 30.06.2023 31.12.2023 Assets Unaudited Unaudited Audited (Amounts in NOK thousand) Note 30.06.2024 30.06.2023 31.12.2023 Goodwill 9 69,497 68,662 70,169 Equity and liabilities Unaudited Unaudited Audited Trademark 9 1,513,331 1,512,694 1,513,851 Share capita
Slide 18: Segment allocated expenses
Total year Total year (MNOK) Q1 2024 Q1 2023 Q2 2024 Q2 2023 Q3 2024 Q3 2023 Q4 2024 Q4 2023 2024 2023 Kid ASA and Kid Interior Segment allocated employee benefits 4.0 4.2 4.3 4.0 4.0 6.6 8.3 18.9 expense Segment allocated other operating 1.2 0.5 1.3 0.5 0.5 1.3 2.5 2.6 expense Hemtex Segment alloca
Slide 19: Group, Kid Interior and Hemtex growth history
Group Total growth Year Q1 Q2 Q3 Q4 2021 10.4 % 3.9 % 3.6 % 2.5 % 2022 9.3 % 8.8 % 0.5 % 2.1 % 2023 -1.3 % -2.5 % 12.1 % 10.2 % 2024 13.7 % 10.6 % Like-for-like growth Year Q1 Q2 Q3 Q4 2021 9.3 % 2.9 % 0.1 % 0.2 % 2022 7.3 % 5.6 % -0.4 % 1.8 % 2023 -0.3 % -3.3 % 12.9 % 9.3 % 2024 13.5 % 9.2 % Kid In
Slide 20: Sales days and store projects
Kid Interior Hemtex Number of sales days Number of sales days Year Q1 Q2 Q3 Q4 Total Year Q1 Q2 Q3 Q4 Total 2023 77 71 79 79 306 2023 89 90 92 91 362 2024 75 73 148 2024 90 90 180 Number of store projects Number of store projects 2023 Q1 Q2 Q3 Q4 Total 2023 Q1 Q2 Q3 Q4 Total New stores 0 1 0 1 2 New
Slide 21: Logistic costs - Sweden
Logistic costs - Sweden Total year Total year (MSEK) Q1 2024 Q1 2023 Q2 2024 Q2 2023 Q3 2024 Q3 2023 Q4 2024 Q4 2023 2024 2023 Employee benefits expense 5.4 5.3 2.2 4.4 5.2 10.6 11.7 Third-party logistics expense 12.1 1.7 13.9 Central warehouse expenses* 7.7 2.0 10.1 9.9 8.3 7.6 17.8 27.8 Total incl