Slide 1: Kid ASA Q4 2023 presentation
Kid asa Q4 2023 presentation
Slide 2: Fourth quarter in brief
Fourth quarter in brief • All-time high revenues and EBITDA in Q4 • Group revenues increased by 13.0% (+0.7%). In constant currency: • Group revenues increased by 10.2% (+2.1%) • LFL revenues increased by 9.3% (+1.8%) • Online revenues increased by 26.6% (+18.2%) • Gross margin increased by 6.5 perc
Slide 3: Another strong quarter with double-digit revenue growth
• Another strong quarter with double-digit revenue growth • Omnichannel and category development initiatives accelerate growth • Extended continue to drive growth with revenues of MNOK 14.6 (MNOK 0.0) in Q4-23 • Strong development in our customer loyalty program, with more than 3 million members • F
Slide 4: Strong revenue development despite a challenging market
3,414 62.3 % 62.6 % 61.5 % 58.1 % 3,178 3,097 2,995 -0.8pp CAGR • Strong revenue development despite a challenging market +4.5% • Group revenue growth of 7.4% (2.6%) • Like for like growth of 7.3% (3.1%) 2020 2021 2022 2023 2020 2021 2022 2023 • Online growth of 20.4% (12.1%), representing 12.2% (10
Slide 5: 2023 has been another record year for development and innovation
• 2023 has been another record year for development and innovation at Kid Group • 2023 has been a year of strong category development contributing to growth, with Extended concept being a major initiative. This has opened the door to a significantly larger market for Kid Interior and Hemtex • Made-t
Slide 6: Group revenues Q4 increased by 13.0%
1,253 1,109 485 831 405 730 724 735 Group revenues Q4 increased by 13.0% (+0.7%) 605 605 313 275 273 277 238 220 • In constant currency: 703 769 456 451 458 518 386 • Group revenues increase of 10.2% (+2.1%) 367 • Group like-for-like revenues increase of 9.3% (+1.8%) including online sales 2022 2023
Slide 7: Strong gross margin development
Strong gross margin development • Group gross margin was 63.4% for the quarter, up by 6.5pp compared to Q4-22 • Kid Interior gross margin increased by 7.4pp to 65.5% (58.1%) • 63.4 % Hemtex gross margin increased by 5.3pp to 60.0% (54.7%) 62.2 % 62.1 % 61.5 % 61.2 % 60.0 % 58.1 % 56.9 % 56.0 % 55.5
Slide 8: OPEX-to-sales of 36.7% (36.7%)
376 335 283 285 275 260 272 267 156 159 122 122 114 OPEX-TO-SALES (excl. IFRS 16) of 36.7% (36.7%) 107 116 122 220 • Employee benefit expenses increased by MNOK 43.6 153 161 156 162 144 161 176 • Increased bonus expenses and general salary increase 2022 2023 2022 2023 2022 2023 2022 2023 • Increased
Slide 9: Kid Interior and Hemtex quarterly results
420 144 297 241 89 74 168 167 143 110 50 45 275 47 57 208 34 167 5 118 121 76 96 2022 2023 2022 2023 2022 2023 2022 2023 Q1 Q2 Q3 Q4 Kid Interior Hemtex 9 Kid ASA – Q4 presentation
Slide 10: Robust financial position
Robust financial position • Record levels of cash flow from operations were achieved during the fourth quarter, driven by increased profit and historically low net working capital (NWC) • Cash flow from investments reflects mainly CAPEX relating to store openings and projects • Cash flow from financ
Slide 11: Store projects: new stores, closures, relocations
276* Completed 2023 Signed, but not yet completed NO: Trondheim Torg NO: Oslo City (Q1-24) NO: Rørvik NO: Egersund (Q2-24) New stores SE: Burlöv NO: Fredrikstad (Q4-24) FI: Lippulaiva, Espoo NO: Grünerløkka (Q2-25) 105* EST: Nautica Tallinn SE: Vetlanda (Q2-24) SE: Ringen, Stockholm (Q2-24) NO: 1 st
Slide 12: We remain optimistic of our market position and growth initiatives
• We remain optimistic of our market position and growth initiatives going forward. However, we expect continued high cost inflation in 2024. • Due to unusually high inflation experienced across all our markets during 2023 rent index regulation for 2024 will be in the range of 5-7%, with other opera
Slide 13: Dividend of NOK 3.50 per share and pay-out ratio of 81%
Dividend of NOK 3.50 per share and pay-out ratio of 81% • The Board of Directors will propose to the Annual General Meeting a dividend of NOK 3.50 per share to be paid 29 May 2024 • Including dividend pre-payment of NOK 2.75 in November 2023, the ordinary dividends for 2023 is NOK 6.25, representing
Slide 14: Appendix
Kid ASA – Q4 presentation 14
Slide 15: Kid Interior Q4 2023
KID Interior (Amounts in NOK millions) Q4 2023 Q4 2022 FY 2023 FY 2022 Revenue 768.5 703.4 2,122.9 1,983.6 Revenue growth 9.3 % 2.3 % 7.0 % 5.3 % LFL growth including online sales 8.5 % 0.9 % 6.1 % 3.2 % COGS -265.2 -294.7 -796.2 -828.0 Gross profit 503.3 408.7 1,326.7 1,155.6 Gross margin (%) 65.5
Slide 16: Hemtex Q4 2023
Hemtex (Amounts in NOK millions) Q4 2023 Q4 2022 FY 2023 FY 2022 Revenue 484.7 405.2 1,290.7 1,194.4 Revenue growth ¹ 11.9 % 1.7 % 3.2 % 3.2 % LFL growth including online sales ¹ 10.7 % 3.5 % 4.4 % 2.8 % COGS -193.9 -183.4 -518.0 -503.6 Gross profit 290.8 221.8 772.6 690.8 Gross margin (%) 60.0 % 54
Slide 17: Group income statement Q4 2023
(Amounts in NOK thousand) Q4 2023 Q4 2022 FY 2023 FY 2022 Revenue 1,253.2 1,108.6 3,413.6 3,178.0 COGS -459.1 -478.1 -1,314.3 -1,331.6 Gross profit 794.1 630.4 2,099.3 1,846.4 Gross margin (%) 63.4 % 56.9 % 61.5 % 58.1 % Other operating revenue 1.7 1.2 4.3 5.2 OPEX -375.8 -334.9 -1,219.1 -1,134.1 EB
Slide 18: Balance sheet
(Amounts in NOK thousand) Note 31.12.2023 31.12.2022 (Amounts in NOK thousand) Note 31.12.2023 31.12.2022 Assets Unaudited Audited Equity and liabilities Unaudited Audited Goodwill 9 70,169 65,479 Trademark 9 1,513,851 1,510,224 Share capital 48,770 48,770 Other intangible assets 9 46,699 35,326 Sha
Slide 19: Segment allocated expenses
Total year Total year (MNOK) Q1 2023 Q1 2022 Q2 2023 Q2 2022 Q3 2023 Q3 2022 Q4 2023 Q4 2022 2023 2022 Kid ASA and Kid Interior Segment allocated employee benefits 4.2 3.3 4.0 4.0 4.0 4.0 6.6 3.9 18.9 15.2 expense Segment allocated other operating 0.5 0.6 0.5 0.6 0.5 0.5 1.3 0.5 2.6 2.1 expense Hemt
Slide 20: Total and like-for-like growth
Group Total growth Year Q1 Q2 Q3 Q4 2021 10.4 % 3.9 % 3.6 % 2.5 % 2022 9.3 % 8.8 % 0.5 % 2.1 % 2023 -1.3 % -2.5 % 12.1 % 10.2 % Like-for-like growth Year Q1 Q2 Q3 Q4 2021 9.3 % 2.9 % 0.1 % 0.2 % 2022 7.3 % 5.6 % -0.4 % 1.8 % 2023 -0.3 % -3.3 % 12.9 % 9.3 % Kid Interior Hemtex Total growth Total grow
Slide 21: Sales days and store projects
Kid Interior Hemtex Number of sales days Number of sales days Year Q1 Q2 Q3 Q4 Total Year Q1 Q2 Q3 Q4 Total 2022 76 72 79 81 308 2022 89 90 92 91 362 2023 77 71 79 79 306 2023 89 90 92 91 362 Number of store projects Number of store projects 2022 Q1 Q2 Q3 Q4 Total 2022 Q1 Q2 Q3 Q4 Total New stores 0
Slide 22: Logistic costs - Sweden
Logistic costs - Sweden Total year Total year (MSEK) Q1 2023 Q1 2022 Q2 2023 Q2 2022 Q3 2023 Q3 2022 Q4 2023 Q4 2022 2023 2022 Employee benefits expense 2.2 4.4 5.2 11.7 Third-party logistics expense 12.1 10.5 1.7 10.9 12.4 15.4 13.9 49.1 Central warehouse expenses* 2.0 1.7 9.9 2.0 8.3 1.6 7.6 2.3 2