Slide 1: Kid ASA Q4 2021
Kid ASA 16 February 2022 Q4 2021 Presentation available at investor.kid.no
Slide 2: Financial fourth quarter in brief
Financial fourth quarter in brief • 7th consecutive quarter with year-on-year increased Earnings Per Share • Group revenues increased by +2.5% (+6.6%) and LFL by 0.2%1 (7.4%1). • Significant increase in revenues from late November as delayed Christmas assortment arrived • LFL growth of -3.8% (13.6%)
Slide 3: Full year financial summary
GROUP REVENUE1 Full year financial summary 2 995 3 097 EBITDA (ex . IFRS16) 1 591 535 2 342 • Strong financial performance 354 CAGR CAGR – Group revenue growth of 3.4%, surpassed NOK 3 bn +15% +29% – EBITDA (excl. IFRS16) growth of 10.6% 15% 18% 19% – EBITDA margin (excl. IFRS16) increased from 17.8
Slide 4: Operational focus in Q4
Operational focus in Q4 • New group e-commerce platform launched in Estonia • Implementation of “Click & Collect” in Hemtex during Q3 generated increased footfall to physical stores • Successful introduction of a broader assortment of Christmas seasonal products in Hemtex and piloting of the “Funkle
Slide 5: Revenues
Revenues Group revenues increased by 2.5%¹ (6.6%¹ ) Revenues (MNOK) Group like-for-like growth (%) • Group like-for-like increased by 0.2% (7.4%) including online sales • Kid Interior revenue decline of -1.0% (15.3%) • Like-for-like decline of -3.8% (13.6%) including online sales • Online sales grow
Slide 6: Gross margin
Gross margin Group gross margin of 63.4% in Q4 Group gross margins • Group gross margin was 63.4 % for the quarter, up by 0.3 pp compared to Q4 2020 • Kid Interior increased gross margin by 0.1 pp to 63.4% (63.3%) • Hemtex increased gross margin by 0.9 pp to 63.5% (62.6%) • Increased freight costs h
Slide 7: EBITDA
EBITDA EBITDA of 372.7 (369.6) in Q4 EBITDA Q4 2021 vs. Q4 2020 • EBITDA excl. IFRS16 of MNOK 301.5 (MNOK 299.3) • Kid Interior EBITDA excl. IFRS16 of MNOK 203.0 (MNOK 216.6) • The reduction in EBITDA of MNOK 13.6 was mainly caused by reduced revenues and increased employee benefits expenses • Estim
Slide 8: Cash flow
Cash flow Solid financial position and liquidity (Amounts in NOK million) • Cash flow from operations decreased by MNOK 59.7 compared Q4 2021 Q4 2020 FY 2021 FY 2020 to Q4 2020 Net cash flow from operations 464,2 523,9 660,5 749,2 • Negative cash effect from increased inventory because of earlier Ne
Slide 9: Dividend
Dividend Payout ratio 91% Dividend per share (DPS) and Adj1 Earnings per share (EPS) • The Board of Directors will propose to the Annual General Meeting a dividend of NOK 4.00 share to be paid 27 May 2022 • Including dividend pre-payment of NOK 4.60 in November 2021, the ordinary dividends for 2021
Slide 10: Outlook
Outlook • Strong pipeline for optimizing the store portfolio • New warehouse facility in Borås (Sweden) for Hemtex expected to be in operation during spring 2023 • The global freight situation which is causing delays and increased spot rates remains a challenge. However… • Spring and summer collecti
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Slide 12: Appendix
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Slide 13: Increased store portfolio activity
Increased store portfolio activity 274 Completed year to date Signed, but not yet completed NO: Holmestrand (Q1 21) NO: Digerneset (Q2 21) NO: Rortunet (Q4 21) 108* NO: Mosjøen (Q4 21) NO: Skøyen (Q2 22) NO: Storgata (Q4 21) NO: Bryn (Q3 22) New stores NO: Holmlia senter (Q4 21) NO: Grünerløkka (Q4
Slide 14: Segment: Kid Interior
Segment: Kid Interior KID Interior (Amounts in NOK millions) Q4 2021 Q4 2020 ¹ FY 2021 FY 2020 ¹ Revenue 687,4 694,2 1 883,5 1 862,8 Revenue growth -1,0% 15,3 % 1,1 % 16,0 % LFL growth including online sales -3,8% 13,6 % -1,8% 14,8 % COGS -251,9 -254,5 -702,3 -703,1 Gross profit 435,5 439,6 1 181,2
Slide 15: Segment: Hemtex
Segment: Hemtex Hemtex (Amounts in NOK millions) Q4 2021 Q4 2020 ¹ FY 2021 FY 2020 ¹ Revenue 413,0 403,0 1 213,6 1 131,8 Revenue growth ² 9,0 % -5,7% 10,1 % 1,1 % LFL growth including online sales ² 7,8 % -1,9% 9,8 % 6,7 % COGS -150,6 -150,7 -457,2 -420,7 Gross profit 262,4 252,4 756,4 711,1 Gross m
Slide 16: Income statement
Income statement (Amounts in NOK thousand) Q4 2021 Q4 2020 FY 2021 FY 2020 Revenue 1 100,4 1 097,2 3 097,1 2 994,7 COGS -402,5 -405,2 -1 159,5 -1 128,7 Gross profit 697,9 692,0 1 937,6 1 866,0 Gross margin (%) 63,4 % 63,1 % 62,6 % 62,3 % Other operating revenue 6,2 0,9 10,0 1,7 OPEX -331,4 -323,4 -1
Slide 17: Statement of financial position
Statement of financial position 17 Kid ASA Q4 2021
Slide 18: Allocated segment costs
Allocated segment costs Segment allocated costs Total year Total year (MNOK) Q1 2021 Q1 2020 Q2 2021 Q2 2020 Q3 2021 Q3 2020 Q4 2021 Q4 2020 2021 2020 Kid ASA and Kid Interior Segment allocated employee 0,8 2,3 5,2 2,4 3,6 3,2 6,1 2,1 15,6 10,0 benefits expense Segment allocated other operating 1,7
Slide 19: Quarterly revenue growth
Quarterly revenue growth Kid Interior Hemtex Total growth Total growth Year Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 2019 8,4 % 14,2 % 4,6 % 11,0 % 2019 -1,8 % 11,1 % 19,6 % 2020 -3,6 % 28,0 % 22,1 % 15,3 % 2020 6,6 % 14,7 % -3,7 % -5,7 % 2021 13,6 % 1,7 % -3,9 % -1,0 % 2021 6,4 % 7,7 % 17,4 % 9,0 % Like-for-li
Slide 20: Sales days and stores
Sales days and stores Kid Interior Hemtex Number of sales days Number of sales days Year Q1 Q2 Q3 Q4 Total Year Q1 Q2 Q3 Q4 Total 2020 77 72 79 80 308 2020 90 90 92 91 363 2021 77 71 79 81 308 2021 89 90 92 91 362 Number of store projects Number of store projects 2020 Q1 Q2 Q3 Q4 Total 2020 Q1 Q2 Q3
Slide 21: Financial Objectives
Financial Objectives Financial performance Store portfolio Dividend Policy & capital structure • An optimized portfolio of • Kid target a pay-out ratio of Stores approximately 300 fully 80-100% of adjusted net • Like-for-Like growth of Sales owned stores profit 3-4% in a normalised market • Semi-ann