Slide 1: TCM Group A/S Interim Report January-March 2018
TCM Group A/S Interim Report January-March 2018 May 9, 2018
Slide 2: Strong financial performance in Q1 2018
Strong financial performance in Q1 2018 3.5% organic growth Revenue Adj. EBITA 214 mDKK 28 mDKK (206 mDKK) (24 mDKK) NWC ratio Adj. EBITA margin -7.9% 13.3% (-6.6%) (11.8%) Cash conversion 109% (104%) 2
Slide 3: Business review Q1 2018
Business review Q1 2018 Overall continued positive development in the Danish market in 2018 and TCM Group continues to gain market share New Tvis stores opened during Q1 in Esbjerg and Aabenraa Agreements in place to open two new branded stores, one of which is a Svane store in Trondheim, Norw
Slide 4: Financial highlights Q1 2018
Financial highlights Q1 2018 Q1 2018 Net revenue 214 mDKK (206) Organic growth of 3.5% No. of production days is 5% lower than Q1 2017 Adjusted EBITA 28 mDKK (24), increase of 17% Adjusted EBITA margin 13.3% (11.8) NWC ratio -7.9% (-6.6) Cash conversion ratio 109% (104) Net interest
Slide 5: TCM Group continues its strong growth
TCM Group continues its strong growth 2018 2017 Jan-Dec Jan-Dec Net revenue (mDKK) 214 206 Organic growth 3.5% Q1 comments Net revenue development (mDKK) 817 Organic growth continued in Q1 despite fewer production days and divestment of Svane 600 Lyngby 537 Underlying organic growth of around 10
Slide 6: Earnings continues to improve
Earnings continues to improve 2018 2017 Jan-Mar Jan-Mar Net revenue (mDKK) 214 206 - Gross Margin 26.2% 26.4% Adjusted EBITA (mDKK) 28 24 - Adj. EBITA margin 13.3% 11.8% EBIT (mDKK) 25 22 - EBIT margin 11.5% 10.5% Q1 comments EBITA margin development Revenue growth converted to growth in EBITA 15,
Slide 7: NWC ratio improved compared to last year
NWC ratio improved compared to last year 2018 2017 Mar Mar Net working capital (mDKK) -65 -44 NWC ratio -7.9% -6.6% NIBD (mDKK) 207 223 Leverage (x EBITDA) 1.5 2.2 NWC ratio development Q1 comments 4% NWC ratio 1.3%-point below last year. NWC improvements primarily driven by increased 0% acitivi
Slide 8: High cash conversion continues
High cash conversion continues 2018 2017 Jan-Mar Jan-Mar Operating profit (mDKK) 25 22 Depreciation and amortization (mDKK) 4 5 Change in NWC (mDKK) -16 -10 Tax a.o (mDKK) -4 1 Capex excl. acquisitions (mDKK) 16 -1 Operating cash flow excl. acquisitions (mDKK) 25 16 Cash conversion 109% 104% Q1 comm
Slide 9: Financial outlook 2018 is unchanged
Financial outlook 2018 is unchanged Market Denmark: Growth expected to be 2-3% Norway and Sweden: Market expected to be negatively affected by decrease in real estate prices and a slow down in new builds TCM Group Net revenue: 870-900 mDKK Adjusted EBITA: 130-140mDKK EBIT: 120-130mDKK 40
Slide 10: Q&A
Q&A