Slide 1: Kid ASA Q1 2021
Kid ASA Kid ASA 12 May 2021 Kid ASA 5 November 2020 17 February 2021 Q1 2021 Q3 2020 Presentation available at investor.kid.no Q4 2020 PresentationPresentation available available at investor.kid.no at investor.kid.no
Slide 2: Financial first quarter in brief
Financial first quarter in brief • Best Q1 performance ever, driven by continued high revenue growth combined with increased gross margin and stringent cost control • Successfully adapted to Covid-19 restrictions by utilizing the omni channel platform • LFL group revenues increased by 9.3%1 • LFL gr
Slide 3: Operational focus in Q1
Operational focus in Q1 • Adapting operations to rapidly changing governmental restrictions – 39 of 148 stores closed on average during the quarter in Norway – Strict containment restrictions in Sweden and Finland. All five stores were closed in Estonia from 11 March • Focus on initiatives to compen
Slide 4: Pan-Nordic presence
Pan-Nordic presence 277 Store information Q1 • Kid Interior (148 stores) 116 • One new store was opened in Holmestrand • Stjørdal and Lillemarkens (Kristiansand) were refurbished • Three stores were relocated in Gjøvik, Raglamyr and Elverum 8 • No permanently closed stores 148 • Hemtex (129 stores,
Slide 5: Revenues
Revenues Group revenues increased by 10.4%¹ Revenue (MNOK) Group Like-for-like growth (%) • Group like-for-like of 9.3% including online sales • Kid Interior revenue growth of 13.6% (-3.6%) • Like-for-like growth of 10.3% (-4.0%) including online sales • Online sales growth of 84.3% to MNOK 31.8 (MN
Slide 6: Gross margin
Gross margin Group gross margin of 61.0% in Q1 Group gross margins in 2020 and 2021 • Group gross margin was 61.0 % for the quarter, up by 0.9 pp • Kid Interior increased gross margin by 2.1 pp to 61.1% (59.0 %) due to higher purchasing volumes enabling improved purchasing terms with suppliers and a
Slide 7: EBITDA
EBITDA Adjusted EBITDA of 112.7 (63.5) in Q1 Adjusted1 EBITDA Q1 2021 versus Q1 2020 • Adjusted EBITDA excl. IFRS16 of MNOK 39.5 (MNOK -7.7) for Q1 • Kid Interior EBITDA excl. IFRS16 of MNOK 29.6 (MNOK 3.7) • Increased EBITDA of MNOK 25.9 mainly due to increased revenues, improved gross margin and s
Slide 8: Cash flow
Cash flow (Amounts in NOK million) Solid financial position and liquidity Q1 2021 Q1 2020 FY 2020 Net cash flow from operations -105,8 -175,2 749,2 • Cash flow from operations positively affected by increased Net Cash flow from investments -13,6 -8,3 -65,4 profit and improved cash flow from Trade cr
Slide 9: Segment: Kid Interior
Segment: Kid Interior (Amounts in NOK millions) Q1 2021 Q1 2020 ¹ FY 2020 Revenue 326,1 287,1 1 862,8 Revenue growth 13,6 % -3,6% 16,0 % LFL growth including online sales 10,3 % -4,0% 14,8 % COGS -126,9 -117,7 -703,1 Gross profit 199,2 169,5 1 159,7 Gross margin (%) 61,1 % 59,0 % 62,3 % Other operat
Slide 10: Segment: Hemtex
Segment: Hemtex (Amounts in NOK millions) Q1 2021 Q1 2020 ¹ FY 2020 Revenue 243,7 220,9 1 131,8 Revenue growth ² 6,4 % 6,6 % 1,1 % LFL growth including online sales ² 7,8 % 7,9 % 6,7 % COGS -95,2 -81,0 -420,7 Gross profit 148,6 139,9 711,1 Gross margin (%) 61,0 % 63,4 % 62,8 % Other operating revenu
Slide 11: Finance Update
Finance Update Renewed loan agreement with Nordea • Five-year term loan structure of MNOK 612, of which MNOK 100 can be drawn in two tranches within two years • MNOK 30 repayment annually in semi-annual installments • MNOK 115 swapped into a fixed NOKSEK and interest contract • Interest margin on te
Slide 12: Sustainability report
Sustainability report Based on the GRI¹ standard • 93% of cotton from Kid assortment in 2020 came from more sustainable sources • Sourcing of Better Cotton saved an estimated 2.1 billion liters of water and added more profitability to local farmers • Compensated 2,300 tons carbon dioxide in Scope 1
Slide 13: Outlook
Outlook • Several opportunities for re-negotiations, relocation, and new stores • New store openings in Sweden, in Karlskrona in Q2 and central Malmø in Q3. In total, 5 new stores are currently expected to open in 2021 • Continued focus on profitable refurbishments and expansions • Extended assortme
Slide 14: Q&A
Q &A Q&A
Slide 15: Financial Objectives
Financial Objectives The objectives for Kid ASA in the medium-term are • A continued strong financial performance driven by like-for-like growth of 3-4 percent in a normalised market, stable gross margins in line with the past 10 years, and operating expenses relative to sales below 45 percent. • An
Slide 16: Income statement
Income statement (Amounts in NOK thousand) Q1 2021 Q1 2020 FY 2020 Revenue 569,8 508,0 2 994,7 COGS -222,0 -202,7 -1 128,7 Gross profit 347,8 305,3 1 866,0 Gross margin (%) 61,0 % 60,1 % 62,3 % Other operating revenue 1,3 0,3 1,7 OPEX -236,4 -242,2 -1 044,1 EBITDA 112,7 63,5 823,6 EBITDA margin (%)
Slide 17: Statement of financial position
Statement of financial position (Amounts in NOK thousand) Note 31.03.2021 31.03.2020 31.12.2020 (Amounts in NOK thousand) Note 31.03.2021 31.03.2020 31.12.2020 Equity and liabilities Unaudited Unaudited Audited Assets Unaudited Unaudited Audited Goodwill 9 67 626 72 079 72 280 Share capital 48 770 4
Slide 18: Sales days and stores
Sales days and stores Kid 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 77 2021 89 89 Number of store projects Number of store projects 2020 Q1 Q2 Q3 Q4 Total 2020 Q1 Q2 Q3 Q4 Total New stores 0 0 0 4
Slide 19: Allocated segment costs
Allocated segment 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 2,4 3,2 2,1 0,8 10,0 benefits expense Segment allocated other operating 1,7 0,1 0,3 0,3 1,0 1,7 1,7 expense Hemte
Slide 20: Quarterly revenue growth
Quarterly revenue growth Kid 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 % 2021 6,4 % Like-for-like growth Like-for-like growth Year Q1 Q2 Q3 Q4