Kid Asa · OSL:KID
Kid Asa — Q4 2024 Earnings Presentation
24 slides from Kid Asa's earnings presentation, 2025
Slide 1: Kid ASA – Q4 presentation
Kid ASA – Q4 presentation 1
Slide 2: Fourth quarter in brief
Fourth quarter in brief • Group revenues increased by 12.0% (+13.0%) to MNOK 1,403.7. In constant currency: • Group revenues increased by 11.7% (+10.2%) • LFL revenues increased by 10.1% (+9.3%) • Online revenues increased by 13.7% (+26.6%) • Gross margin decreased by 2.2 percentage points to 61.2%
Slide 3: Fourth quarter in brief
Fourth quarter in brief • Categories launched since 2022 accounted for MNOK 55.1 (MNOK 33.9) in revenues • Strong results from high-quality execution of Q4 and the Christmas shopping season • Increased volumes from successful campaigns have caused logistical challenges in Norway • Completed seven st
Slide 4: Net profit increased by 27.0% to MNOK 398.6 in 2024
Net profit increased by 27.0% to MNOK 398.6 in 2024 3,414 3,785 62.6 % 61.5 % 61.9 % 3,178 58.1 % 3,097 • Strong revenue development CAGR -0.7pp +6.9% • Group revenue growth of 10.9% (+7.4%) • Like for like growth of 8.8% (+7.3%) 2021 2022 2023 2024 2021 2022 2023 2024 • Online growth of 10.4% (+20.
Slide 5: 2024 has been another record year for Kid Group
• 2024 has been another record year for Kid Group in terms of development and innovation • Categories launched since 2022 accounted for MNOK 133.8 (MNOK 75.6) in revenues • Extended assortment launched Online and in selected larger stores in Hemtex in Q1-24 • Made-to-measure technical sun screening
Slide 6: Group revenues Q4 increased by 12.0% to MNOK 1,403.7
1,404 1,253 567 887 485 Group revenues Q4 increased by 12.0% to MNOK 1.403.7 724 798 831 696 605 324 297 313 259 273 • In constant currency: 220 769 836 500 518 563 438 451 • Group revenues increase of 11.7% (+10.2%) 386 • Group like-for-like revenues increase of 10.1% (+9.3%) including online sales
Slide 7: Strong gross margin for the full-year in a historical perspective
Strong gross margin for the full-year in a historical perspective • Group gross margin was 61.2% for the quarter • Kid Interior gross margin decreased by -4.2pp to 61.3% (65.5%) 63.4 % 63.2 % 62.2 % 62.1 % 62.1 % 61.9 % • Hemtex gross margin increased by 1.0pp to 61.0% (60.0%) 61.5 % 61.5 % 61.2 % 5
Slide 8: OPEX-to-sales (excl. IFRS 16) of 35.4% (36.7%)
395 376 304 316 305 283 285 275 159 156 126 125 127 OPEX-TO-SALES (excl. IFRS 16) of 35.4% (36.7%) 122 122 114 • Employee benefit expenses increased by MNOK 16.2 161 179 162 180 161 188 220 236 • General salary increase and increased number of working hours in stores, in addition to high store proje
Slide 9: EBITDA by quarter: Kid Interior and Hemtex
465 420 177 144 241 236 202 74 76 167 55 125 45 288 275 33 57 146 167 160 5 121 92 52 2023 2024 2023 2024 2023 2024 2023 2024 Q1 Q2 Q3 Q4 Kid Interior Hemtex 9 Kid ASA – Q4 presentation
Slide 10: Cash flow development in Q4
Cash flow development in Q4 • Record strong cash flow from operations - 16 - 87 • Cash flow from investments reflects mainly CAPEX - 28 relating to store openings, store projects and the - 293 warehouse project in Sweden. Positive impact from 768 - 122 the loan repayment following the warehouse sale
Slide 11: Robust financial position
Robust financial position 830.5 • Cash and available credit facilities of MNOK 1,093.7 228.5 830.5 (MNOK 827.1), including an unused term- 247.0 247.0 loan facility of MNOK 125 230.0 230.0 • Net interest-bearing debt excl. IFRS 16 leasing 125.0 491.7 125.0 - liabilities of MNOK 263.1 (MNOK 296.6) 49
Slide 12: Store projects: completed 2024 and signed
277* Completed 2024 per quarter-end Signed, but not yet completed NO: Oslo City NO: Egersund NO: Grünerløkka (Q2-25) NO: Værste, Fredrikstad NO: Bryn (Q2-25) New stores SE: Vetlanda FI: Matkus, Kuopio (Q1-25) SE: Ringen, Stockholm FI: Sello, Helsinki (Q2-25) 104* SE: Nordstan, Göteborg FI: Mall of T
Slide 13: Warehouse expansion in Sweden
• In August 2023, Kid Group decided to expand the warehouse facilities in Sweden for the purpose of establishing one central warehouse • Kid Group currently operates two logistical setups; One in Lier (Norway) and one in Borås (Sweden) • The expansion aims to handle higher volumes and streamline ope
Slide 14: Outlook: store projects, warehouse, Hemtex pilot and new CEO
• In H1-25, we have signed eight store projects in Kid Interior and five in Hemtex. These projects include a combination of refurbishment, enlargement and relocations • We will commence operations for Hemtex from the new facilities in Q1 2025, with the common warehouse expected to serve all markets
Slide 15: Dividend of NOK 5.00 per share and pay-out ratio of 82%
Dividend of NOK 5.00 per share and pay-out ratio of 82% • The Board of Directors will propose to the Annual General Meeting a dividend of NOK 5.00 per share to be paid 27 May 2025. • A proportion of the dividend is attributable to the gain from sale of the warehouse in Sweden and will not be recurri
Slide 16: Kid ASA – Q4 presentation
Kid ASA – Q4 presentation 16
Slide 17: Kid Interior
KID Interior (Amounts in NOK millions) Q4 2024 Q4 2023 FY 2024 FY 2023 Revenue 836.4 768.5 2,337.5 2,122.9 Revenue growth 8.8 % 9.3 % 10.1 % 7.0 % LFL growth including online sales 6.7 % 8.5 % 8.5 % 6.1 % COGS -323.8 -265.2 -892.3 -796.2 Gross profit 512.6 503.3 1,445.1 1,326.7 Gross margin (%) 61.3
Slide 18: Hemtex
Hemtex (Amounts in NOK millions) Q4 2024 Q4 2023 FY 2024 FY 2023 Revenue 567.3 484.7 1,447.5 1,290.7 Revenue growth ¹ 16.2 % 11.9 % 9.9 % 3.2 % LFL growth including online sales ¹ 15.7 % 10.7 % 9.3 % 4.4 % COGS -221.5 -193.9 -550.9 -518.0 Gross profit 345.8 290.8 896.6 772.6 Gross margin (%) 61.0 %
Slide 19: Group income statement
(Amounts in NOK thousand) Q4 2024 Q4 2023 FY 2024 FY 2023 Revenue 1,403.7 1,253.2 3,784.9 3,413.6 COGS -545.3 -459.1 -1,443.2 -1,314.3 Gross profit 858.4 794.1 2,341.7 2,099.3 Gross margin (%) 61.2 % 63.4 % 61.9 % 61.5 % Other operating revenue 1.4 1.7 4.8 4.3 OPEX -395.2 -375.8 -1,319.6 -1,219.1 EB
Slide 20: Statement of financial position
Statement of financial position (Amounts in NOK thousand) Note 31.12.2024 31.12.2023 Assets Unaudited Audited (Amounts in NOK thousand) Note 31.12.2024 31.12.2023 Goodwill 9 71,298 70,169 Equity and liabilities Unaudited Audited Trademark rademar! 9 1,514,724 1,513,851 Share capital a aay70 Other in
Slide 21: Segment allocated expenses by quarter
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 4.3 4.0 11.1 6.6 23.7 18.9 expense Segment allocated other operating 1.2 0.5 1.3 0.5 1.3 0.5 1.1 1.3 4.9 2.6 expense Hem
Slide 22: Total and like-for-like growth by segment
Group Kid Interior Hemtex Total growth Total growth Total growth Year Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 2020 -3.6 % 28.0 % 22.1 % 15.3 % 2020 6.6 % 14.7 % -3.7 % -5.7 % 2021 10.4 % 3.9 % 3.6 % 2.5 % 2021 13.6 % 1.7 % -3.9 % -1.0 % 2021 6.4 % 7.7 % 17.4 % 9.0 % 2022 9.3 % 8.8 % 0.5 % 2.1
Slide 23: Sales days and store projects by segment
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 79 80 307 2024 90 90 92 91 363 Number of store projects Number of store projects 2023 Q1 Q2 Q3 Q4 Total 2023 Q1 Q2 Q3 Q4 Total New stores 0
Slide 24: 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 5.0 4.4 6.6 5.2 22.2 11.7 Third-party logistics expense 12.1 1.7 13.9 Central warehouse expenses* 7.7 2.0 10.1 9.9 8.7 8.3 14.4 7.6 41.