Slide 1: Kid ASA Q4 2015
Kid ASA 11 February 2016 Q4 2015 Presentation available at investor.kid.no
Slide 2: Highlights Q4 2015
Highlights Q4 2015 • Revenue growth of 8.5% • Opened two new stores • Gross margin of 60.3% (62.9% LY) – Gross margin on full price products in line with target – Gross margin on discounted goods reduced to maintain strategic price points – Discounted goods share of total sales increased • Adjusted
Slide 3: Continuing to gain market share
Continuing to gain market share Q4 revenue growth of 8.5% Revenue Market • Total growth of 8.5% in the quarter 433 • Like-for-like growth of 3.2% 399 8,5 % 7,8 % • Increase of 6 new stores (Time weighted) 295 288 4,3 % • Online growth of 53.6% 3,3 % • The order and content of campaigns were 215 232
Slide 4: Operational focus
Operational focus It’s Christmas every year – main focus in Q4: • Distributing high volumes of goods to stores and online customers from the central warehouse in the peak season • Two new stores opened in October 2015, bringing the total number of stores to 130. Three stores relocated and one store
Slide 5: Gross margin
Gross margin Q4 gross margin of 60.3% Gross margin in 2014 and 2015 • Gross margin after realized currency effects was 60.3% for the 63,3% 62,9% 60,3% 62,3% 60,8% 60,3% quarter, down -2.2% percentage points from Q4-2014 59,4% 57,9% • Achieved the targeted gross margin on products sold at full price
Slide 6: Adjusted EBITDA
Adjusted EBITDA* Adjusted EBITDA increased by 4.7% in Q4-2015 Adjusted EBITDA 2014 and 2015 • Employee benefits expense increased by 4.3% • 2.8% of the increase was due to provisions for the 99,6 management incentive program (terminated 95,2 31.12.2015) • 1.5% of the increase was due to new stores a
Slide 7: Income statement
Income statement Income statement* Amounts in MNOK Q4 2015 Q4 2014 FY 2015 FY 2014 Revenue 433,1 399,3 1 188,4 1 135,9 COGS including realized FX-effects -171,8 -148,1 -475,9 -429,8 Gross profit 261,3 251,2 712,6 706,1 Q4 adjusted net profit of 64.7 Gross margin (%) 60,3 % 62,9 % 60,0 % 62,2 % • Dep
Slide 8: Cash flow
Cash flow Cash flow Amounts in MNOK Q4 2015 Q4 2014 FY 2015 FY 2014 Net cash flow from operations 231,6 170,5 128,6 120,5 Net cash flow from investments -9,3 -12,0 -40,6 -39,0 Net cash flow from financing -3,1 -101,4 44,1 -60,4 NIBD/EBITDA OF 1.7 PER 31.12.2015 Net change in cash and cash equivalent
Slide 9: Dividend 2015
Dividend 2015 PROPOSED DIVIDEND OF NOK 1.5 PER SHARE FOR 2015 • The Board of Directors proposes a dividend of NOK 1.50 per share for 2015 (66% of adjusted net income* for 2015) • The proposed pay-out details are: • Last day including right: 11th of May 2016 • Ex-date: 12th of May 2016 • Record date:
Slide 10: Operational initiatives
Operational initiatives Mid-term objectives unchanged • Full focus on core business • Current plan for store investments in H1-2016 • New stores at Trekanten (Asker/Oslo) and Mortensrud (Oslo) • Relocation of stores in DownTown (Porsgrunn), Alnabru (Oslo) and Stovner (Oslo) • Refurbishing stores at
Slide 11: Appendix
APPENDIX Kid INTERIOR
Slide 12: Adjustments overview
Adjustments overview Comments Adjustments overview (MNOK) Q4 2015 Q4 2014 FY 2015 FY 2014 1. Kid relocated to a new warehouse in June 2015 1 Adj: Cost of relocation to new warehouse 3,7 and considers costs related to this as one-off 2. Costs related to the IPO in 2015 is considered 2 Adj: Cost relat