Slide 1: Kid ASA Q3 2017
Kid ASA 14 November 2017 Q3 2017 Presentation available at investor.kid.no
Slide 2: Highlights Q3 2017
Highlights Q3 2017 • Revenues increased by 9.5% compared to Q3 2016 • Gross margin of 60.8% (61.1%) • EBITDA of MNOK 60.5 (MNOK 58.1), representing an EBITDA margin of 17.6% (18.5%) • 1 store opening and 1 store relocation • NIBD/EBITDA of 2.1 (2.7) • The board of directors has made a resolution to
Slide 3: Revenues and market share
Revenues and market share Q3 revenues increased by 9.5% (9.2%) Revenue Market • Like-for-like growth of 5.1% (6.7%) including online sales 484 11,7 % • Online sales growth of 35.9% (59.7%) 10,1 % 9,5 % 9,5 % • 1 new store and 1 store relocation in the 344 7,7 % 314 quarter 6,6 % 254 265 278 6,4 % •
Slide 4: Store portfolio
Store portfolio Store portfolio development in Q3: • New store opened in Pilestredet (Oslo) • The store at AMFI Eidsvoll (Eidsvoll) was relocated • 138 (133) physical stores at the end of the quarter • Four of the five lease agreements that were acquired from Hansen & Dysvik were in business at the
Slide 5: Operational focus
Operational focus Operational focus on growth initiatives: • Kitchen and tabletop assortment renewed • Guppyfriend washing bag launched. The washing bag reduces microfibers that enter rivers and oceans as a result of the washing process • Re:Down duvet, containing only recycled down, launched • Prod
Slide 6: Gross margin
Gross margin Gross margin decrease of 0.4 pp in Q3 (IFRS9) Gross margins in 2016 and 2017 • Gross margin was 60.8% for the quarter, a decrease of 0.4 pp from Q3 2016. 58,3% 59,9% 61,5% 61,6% 61,1% 60,8% 59,7% • Gross margin negatively impacted by clearance sale on kitchen and children categories as
Slide 7: EBITDA
EBITDA Adjusted EBITDA margin of 17.6% (18.5%) in Q3 Adjusted EBITDA 2016 and 2017 • Employee benefits expenses increased by 8.2% in Q3 2017 • 3.5 pp due to net new stores 118,3 • 0.6 pp due to increased provision for store bonuses • 4.1 pp due to general salary inflation and increased staffing leve
Slide 8: Income statement
Income statement Income statement Amounts in MNOK Q3 2017 Q3 2016 Q1-Q3 2017 Q1-Q3 2016 FY 2016 Revenue 343,8 314,1 876,1 810,1 1 293,9 COGS -134,9 -122,0 -343,8 -320,3 -515,3 Net profit margin of 10.6% (11.3%) in Q3 Gross profit 209,0 192,0 532,4 489,8 778,6 Gross margin (%) 60,8 % 61,1 % 60,8 % 60
Slide 9: Cash flow
Cash flow Cash flow Amounts in MNOK Q3 Q3 Q1-Q3 Q1-Q3 FY 2017 2016 2017 2016 2016 Net cash flow from operations 22,9 17,5 -73,5 -72,1 172,0 Net cash flow from investments -8,3 -9,0 -39,1 -26,4 -34,8 NIBD/EBITDA of 2.1 (2.7) per 30.09.2017 Net cash flow from financing -51,5 -3,2 -139,1 -71,3 -72,9 •
Slide 10: Operational initiatives
Operational initiatives Mid-term objectives unchanged • Financial goal of maintaining last year’s ratio between operating expenses and sales remains unchanged on an annual basis • The new store in Ski Storsenter (Ski) opened on October 6th. New stores will open in Leknes (Lofoten) in December 2017 a
Slide 11: Half-year dividend
Half-year dividend Dividend of NOK 1.0 per share • The Board of Directors has made a decision to pay a half- year dividend of NOK 1.00 per share for 2016 (33% of adjusted net income* for last twelve months) • The dividend is in line with the current dividend policy whereby 60-70% of annual adjusted
Slide 12: Questions
QzA Kid INTERIOR