Slide 1: Kid ASA Q1 2019
Kid ASA 15 May 2019 Q1 2019 Presentation available at investor.kid.no
Slide 2: Highlights Q1 2019
Highlights Q1 2019 • Revenues increased by 8.4% compared to Q1 2018 • Gross margin of 60.5% (58.4 %) • EBITDA excluding IFRS 16 effects of MNOK 15.1 (MNOK 9.9), representing an EBITDA margin of 5.1% (3.6 %) • One store opening, seven refurbishments, one store relocation and two store closures • NIBD
Slide 3: Revenues and market share
Revenues and market share Q1 revenues increased by 8.4% (8.3 %) Revenue Market growth (LTM) • Like-for-like growth of 5.1% (3.3 %) 542 including online sales 6,8 % 6,5 % 6,2 % • Online sales growth of 22.6% (54.1 %) 5,7 % 5,9 % 5,5 % • Kid outperformed the home textile 368 market for the twelve mont
Slide 4: Revenues as of April
Revenues as of April Revenues are up 10.2% YTD compared to 2018 • Due to the revenue effect following the timing of Easter, Kid ASA has decided to announce the revenues per April 2019 in the Q1 report • Same number of shopping days per April 2019 as for the same period in 2018 • Total revenue growth
Slide 5: Operational focus in Q1
Operational focus in Q1 Operational focus: • Solid execution of campaigns and a commercial product assortment • Improved inventory allocation to stores increased the availability of seasonal products • Successful seasonal assortment and strong development in new categories driving significant growth
Slide 6: Gross margin
Gross margin Gross margin increase of 2.1 pp in Q1 Gross margins in 2018 and 2019 • Gross margin was 60.5% for the quarter, up of 2.1 61,5% 63,1% 60,5% 60,4% pp from Q1 2018 58,4% • Gross margin improvement driven by lower degree of rebates and favourable USD hedge • Impact from favourable USD hedge
Slide 7: EBITDA
EBITDA EBITDA margin excl. IFRS 16 effects of 5.1% (2.9%) in Q1 EBITDA 2018 and 2019 • Employee benefits-related expenses increased by 10.2% in Q1 2019 • 3.1 pp due to net new stores • 3.0 pp due to aggressive store refurbishment program and 141 general salary inflation at store level • 0.6 pp incre
Slide 8: Income statement
Income statement Income statement Amounts in MNOK Q1 2019 IFRS 16 IFRS 16 effects Q1 2019 adjusted Q1 2018 IAS 17 Revenue 298,0 298,0 274,9 COGS -117,7 -117,7 -114,3 Net profit margin of -0.2% (- 0.6 %) in Q1 Gross profit 180,3 180,3 160,6 Gross margin (%) 60,5 % 60,5 % 58,4 % • Depreciation increas
Slide 9: Cash flow
Cash flow Cash flow Amounts in MNOK Q1 2019 IFRS 16 IFRS 16 effects Q1 2019 adjusted Q1 2018 IAS 17 FY 2018 IAS 17 Net cash flow from operations -46,6 37,0 -83,6 -61,9 265,2 Net cash flow from investments -12,7 -12,7 -5,1 -37,3 Net cash flow from financing -40,5 37,0 -3,5 -3,4 -115,8 NIBD/EBITDA exc
Slide 10: Operational initiatives
Operational initiatives Mid-term objectives unchanged • Well prepared summer assortment and campaigns ready to launch • New product initiatives in pipeline, as well as, updates on package design • Finalising 2019 store refurbishments program in Q2 • Strong focus on customer service level and introdu
Slide 11: Events after the reporting period
Events after the reporting period Hemtex Aquistion • Kid ASA has entered into a binding share purchase agreement with ICA-Gruppen for 100% of the shares in Hemtex AB. • Kid ASA has secured a debt financing structure with Nordea for the new group • Hemtex AB operates 141 home textile and interior sto
Slide 12: QzA
QzA Kid INTERIOR
Slide 13: IFRS 16 - effects
IFRS 16 - effects 31.03.2019 IFRS 16 31.03.2019 31.03.2018 Balance Sheet Amounts in MNOK IFRS 16 Effects IAS17 IAS17 31.03.2019 IFRS 16 31.03.2019 31.03.2018 Amounts in MNOK IFRS 16 Effects IAS17 IAS17 Equity and liabilities Share capital 48,8 - 48,8 48,8 Assets Share premium 321,0 - 321,0 321,0 Tra