Slide 1: TCM Group A/S Interim Report July-September 2022
TCM Group A/S Interim Report July-September 2022 November 15, 2022
Slide 2: Business update Q3 2022
Business update Q3 2022 ❑ Organic like-for-like growth (core business) of 4% ❑ Strong growth in the Norwegian business ❑ Decline in high margin B2C sales offset by growth in lower margin B2B project sales, resulting in an unfavorable change in sales mix and reduced earnings. ❑ Mitigation actions imp
Slide 3: Revenue growth in Q3 of 1%
Revenue growth in Q3 of 1% Revenue 265 mDKK 262 mDKK) Cash conversion 1.0% 54.9% revenue growth (56.4%) NWC ratio Adjusted EBIT -0.8% 21 DKK (-4.6%) (32 mDKK) Adjusted EBIT margin 7.8% (12.1%) 3
Slide 4: Q3: Revenue flat in DK. Strong growth in Norway
Q3: Revenue flat in DK. Strong growth in Norway 2022 2021 2022 2021 Jul-Sep Jul-Sep Jan-Sep Jan-Sep Net revenue (mDKK) 265 262 871 834 - Organic growth 1.0% 4.4% Q3 comments: 1% growth in core ❑ Reported revenue declined in Denmark with 1.7% - DK revenue organic like-for-like growth excluding third
Slide 5: P&L highlights
P&L highlights 2022 2021 2022 2021 Jul-Sep Jul-Sep Jan-Sep Jan-Sep Net revenue (mDKK) 265 262 871 834 - Gross Margin 18.7% 21.5% 20.5% 23.6% Adjusted EBIT (mDKK) 21 32 86 109 - Adjusted EBIT margin 7.8% 12.1% 9.8% 13.0% Q3 comments: ❑ Decline in high margin B2C sales, offset by growth in lower margi
Slide 6: NWC ratio lower than LY
NWC ratio lower than LY 2022 2021 Sep Sep Net working capital (mDKK) -9 -50 NWC ratio -0.8% -4.6% NIBD (mDKK) 335 224 Leverage (excl. IFRS 16) 2.1 1.2 Q3 comments: ❑ Change in NWC compared to Q3 LY primarily due to higher inventory levels and lower trade and other payables. ❑ NWC last year was favou
Slide 7: Cash flow
Cash flow 2022 2021 2022 2021 Jul-Sep Jul-Sep Jan-Sep Jan-Sep Operating profit (mDKK) 16 44 79 118 Depreciation and amortization (mDKK) 5 4 14 13 Other non-cash operating items 0 -18 0 -18 Change in NWC (mDKK) -22 -33 -79 -71 Tax a.o (mDKK) 0 0 -7 -7 Capex excl. acquisitions, net (mDKK) -6 -9 -19 -1
Slide 8: Financial outlook 2022
Financial outlook 2022 TCM Group Financial outlook: ❑ Net revenue: 1,120-1,160mDKK (Q2 :1,150-1,225mDKK) ❑ Adjusted EBIT: 100-130mDKK (Q2: 130-160mDKK). (EBIT excluding non-recurring items) Revenue development Adjusted EBIT development DKKm DKKm 1108 1120-1160 1007 1025 154 140 140 138 100-130 900 2
Slide 9: Q&A
Q&A