Tcm Group As · OMXCOP:TCM
Tcm Group As — Q4 2021 Earnings Presentation
11 slides from Tcm Group As's earnings presentation, Feb 25, 2022
Slide 1: TCM Group A/S Interim Report October-December 2021
TCM Group A/S Interim Report October-December 2021 February 25, 2022
Slide 2: Business update Q4 2021
Business update Q4 2021 ❑ Organic like-for-like growth of 8%. ❑ Growth driven by all three brands with the highest growth rates within our DIY segment (Nettoline and e-commerce). ❑ Number of branded stores was 93 (90). New Svane store opened in Copenhagen and a Tvis Køkkener store opened in Roskilde
Slide 3: Revenue growth in Q4 of 4.3%
Revenue growth in Q4 of 4.3% Revenue 274 mDKK (263 mDKK) Cash conversion 4.3% 60.3% revenue growth (83.9%) NWC ratio Adjusted EBIT -7.4% 29 DKK (-11.4%) (36 mDKK) Adjusted EBIT margin 10.6% (13.8%) 3
Slide 4: Q4 revenue growth driven by all brands
Q4 revenue growth driven by all brands 2021 2020 2021 2020 Oct-Dec Oct-Dec Jan-Dec Jan-Dec Net revenue (mDKK) 274 263 1,108 1,025 - Organic growth 4.3% 8.2% Q4 comments: ❑ Reported revenue growth in Denmark was +3.3% - 3.3% growth organic like-for-like growth in Denmark was 7%. in DK revenue ❑ Growt
Slide 5: P&L highlights
P&L highlights 2021 2020 2021 2020 Oct-Dec Oct-Dec Jan-Dec Jan-Dec Net revenue (mDKK) 274 263 1,108 1,025 - Gross Margin 21.1% 26.8% 23.0% 26.6% Adjusted EBIT (mDKK) 29 36 138 140 - Adjusted EBIT margin 10.6% 13.8% 12.4% 13.6% Q4 comments: ❑ The divestment of the Svane Køkkenet store in Copenhagen t
Slide 6: Non-recurring items
Non-recurring items ❑ Non-recurring items in the quarter: ❑ Covid-19 precautions and related supply chain disruptions of 6.5mDKK (3.0mDKK Q4 LY). ❑ Cost related to the merge of the e-commerce activities in kitchn.dk and Celebert of 2.0mDKK. 6
Slide 7: NWC ratio lower than LY
NWC ratio lower than LY 2021 2020 Dec Dec Net working capital (mDKK) -82 -117 NWC ratio -7.4% -11.4% NIBD (mDKK) 200 -43 Leverage (x EBITDA) 1.33 -0.23 Q4 comments: ❑ Higher level of inventories was due to impact from increased raw material prices, and a management decision to establish a buffer of
Slide 8: Cash flow
Cash flow 2021 2020 2021 2020 Oct-Dec Oct-Dec Jan-Dec Jan-Dec Operating profit (mDKK) 21 33 138 135 Depreciation and amortization (mDKK) 4 5 17 21 Other non-cash operating items 0 0 -17 0 Change in NWC (mDKK) 33 34 -38 7 Tax a.o (mDKK) -19 -25 -26 -31 Capex excl. acquisitions (mDKK) -11 -17 -29 -31
Slide 9: Dividend
Dividend ❑ We will propose to the AGM an ordinary dividend distribution of DKK 6 per share. ❑ Excluding treasury shares this corresponds to DKK 54 million. ❑ Furthermore, we will propose to the AGM that a mandate is provided to the BoD with the option to distribute an extraordinary dividend during 2
Slide 10: Financial outlook 2022
Financial outlook 2022 TCM Group Financial outlook: ❑ Net revenue: 1,150-1,225mDKK, corresponding to organic growth of 4-11%. ❑ Adjusted EBIT: 140-170mDKK. (EBIT excluding non-recurring items) Revenue development Adjusted EBIT development DKKm DKKm 1150-1225 1108 140-170 1007 1025 154 140 140 138 90
Slide 11: Q&A
Q&A