Slide 1: Kid ASA Q4 2022
Kid ASA 16 February 2023 Q4 2022 Presentation available at investor.kid.no
Slide 2: Financial Summary
Financial Summary Fourth quarter in brief • Group revenues1 increased by 2.1% (2.5%). LFL revenues increased by 1.8% (0.2%) • Online growth of +18.2% • Challenging retail market in all segments • Gross margin decreased by -6.5 percentage points • Mainly caused by increased freight costs without corr
Slide 3: Operational focus in Q4
Operational focus in Q4 • Promising launch of Kid Extended in first pilot store and online during Q4. Five Kid Extended stores will be launched in Norway by the end of Q2 2023. The gross margin for new categories in line with expectation (35-40%) including logistics and last-mile distribution • New
Slide 4: Full year financial summary
Full year financial summary GROUP REVENUE1 2 995 3 097 3 178 GROSS MARGIN (%)1 60,5 % 62,3 % 62,6 % 58,1 % 2 342 -2,4 pp • Strong revenue development in a challenging market CAGR +11% – Group revenue growth of 2.6 % – Like-for-like growth of 3.1 % – Online growth of 12.1 %, representing 10.8 % (10.2
Slide 5: Revenues
Revenues Group revenues Q4 increased by 2.1%¹ (2.5%¹ ) Revenues (MNOK) Group like-for-like growth (%) • Group like-for-like revenues increased by +1.8% (+0.2%) including online sales • Reduction in footfall to physical stores in October and November, but increase in footfall in December • Online gro
Slide 6: Gross margin
Gross margin Gross margin negatively affected by freight costs and rebating Group gross margins • Group gross margin was 56.9 % for the quarter, down by 6.5 pp compared to Q4 2021 • Kid Interior decreased gross margin by -5.3 pp to 58.1% (63.4%) • Hemtex decreased gross margin by -8.8 pp to 54.7% (6
Slide 7: EBITDA
EBITDA EBITDA of 296.8 (372.7) in Q4 EBITDA Q4 2022 vs. Q4 2021 • EBITDA decreased by MNOK 75.9 to MNOK 296.8 • Increased Other operating expenses of MNOK 13.2 excluding IFRS16 effects due to increased rental costs, general costs increases from electricity and increased logistics costs following hig
Slide 8: Cash flow
Cash flow Satisfactory financial position and liquidity (Amounts in NOK million) Q4 2022 Q4 2021 FY 2022 FY 2021 • Cash flow from operations increased by MNOK 117.6 compared to Net cash flow from operations 581,8 464,2 547,9 673,7 Q4 2021 mainly because of inventory reduction during the quarter Net
Slide 9: Dividend
Dividend Payout ratio 90% Dividend per share (DPS) and Adj1 Earnings per share (EPS) • The Board of Directors will propose to the Annual General Meeting a dividend of NOK 3.00 share to be paid 26 May 2023 • Including dividend pre-payment of NOK 2.50 in November 2022, the ordinary dividends for 2022
Slide 10: Store portfolio activity
Number of stores per quarter end Store portfolio activity Completed 2022 Signed, but not yet completed 275 NO: Skøyen NO: Trondheim Torg (Q2 23) NO: Kolbotn Torg 105* NO: Grünerløkka (Q2 24) New stores NO: Ullevål NO: Fredrikstad (Q4 24) SE: Port 73 Haninge FI: Lippulaiva, Espoo (Q1 23) EST: Kristii
Slide 11: Outlook
Outlook • The construction of our new warehouse in Sweden is progressing as planned and we expect to be fully operative in May. Logistics operation to be relocated during March and April • Continued piloting of Kid Extended as planned • Five Kid Extended stores (including pilot opened in Q4 2022) wi
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Slide 14: Growth strategy
Growth strategy LIKE-FOR-LIKE OMNICHANNEL STORE NETWORK EXTENDED RETAIL CONCEPT Category development and New joint online platform Maintain an optimized store Pilot an extended retail concept expansion launched in 2021 portfolio of up to 320 stores based on existing and new categories in online stor
Slide 15: Segment: Kid Interior
Segment: Kid Interior (Amounts in NOK millions) Q4 2022 Q4 2021 FY 2022 FY 2021 Revenue 703,4 687,4 1 983,6 1 883,5 Revenue growth 2,3 % -1,0% 5,3 % 1,1 % LFL growth including online sales 0,9 % -3,8% 3,2 % -1,8% COGS -294,7 -251,9 -828,0 -702,3 Gross profit 408,7 435,5 1 155,6 1 181,2 Gross margin
Slide 16: Segment: Hemtex
Segment: Hemtex (Amounts in NOK millions) Q4 2022 Q4 2021 FY 2022 FY 2021 Revenue 405,2 413,0 1 194,4 1 213,6 Revenue growth ¹ 1,7 % 9,0 % 3,2 % 10,1 % LFL growth including online sales ¹ 3,5 % 7,8 % 2,8 % 9,8 % COGS -183,4 -150,6 -503,6 -457,2 Gross profit 221,8 262,4 690,8 756,4 Gross margin (%) 5
Slide 17: Income statement
Income statement (Amounts in NOK thousand) Q4 2022 Q4 2021 FY 2022 FY 2021 Revenue 1 108,6 1 100,4 3 178,0 3 097,1 COGS -478,1 -402,5 -1 331,6 -1 159,5 Gross profit 630,4 697,9 1 846,4 1 937,6 Gross margin (%) 56,9 % 63,4 % 58,1 % 62,6 % Other operating revenue 1,2 6,2 5,2 10,0 OPEX -334,9 -331,4 -1
Slide 18: Statement of financial position
Statement of financial position (Amounts in NOK thousand) Note 31.12.2022 31.12.2021 (Amounts in NOK thousand) Note 31.12.2022 31.12.2021 Assets Unaudited Audited Equity and liabilities Unaudited Audited Goodwill 9 65 479 70 286 Share capital 48 770 48 770 Trademark 9 1 510 224 1 511 788 Share premi
Slide 19: Allocated segment costs
Allocated segment costs Total year Total year (MNOK) Q1 2022 Q1 2021 Q2 2022 Q2 2021 Q3 2022 Q3 2021 Q4 2022 Q4 2021 2022 2021 Kid ASA and Kid Interior Segment allocated employee 3,3 0,8 4,0 5,2 4,0 3,6 3,9 6,1 15,2 15,6 benefits expense Segment allocated other operating 0,6 1,7 0,6 1,0 0,5 1,3 0,5
Slide 20: Quarterly revenue growth
Quarterly revenue growth Kid Interior Hemtex Total growth Total growth 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 13,6 % 1,7 % -3,9 % -1,0 % 2021 6,4 % 7,7 % 17,4 % 9,0 % 2022 12,5 % 8,9 % 1,4 % 2,3 % 2022 4,8 % 8,8 % -1,0 % 1,7 % Like-for
Slide 21: Sales days and stores
Sales days and stores Kid Interior Hemtex Number of sales days Number of sales days Year Q1 Q2 Q3 Q4 Total Year Q1 Q2 Q3 Q4 Total 2021 76 71 79 81 307 2021 89 90 92 91 362 2022 76 72 79 81 308 2022 89 90 92 91 362 Number of store projects Number of store projects 2021 Q1 Q2 Q3 Q4 Total 2021 Q1 Q2 Q3