Slide 1: TCM Group A/S Interim Report October-December 2022
TCM Group A/S Interim Report October-December 2022 February 24, 2023
Slide 2: Business update Q4 2022
Business update Q4 2022 ❑ Organic like-for-like growth (core business) of 1% ❑ Decline in high margin B2C sales offset by growth in lower margin B2B project sales, resulting in an unfavorable change in sales mix and reduced earnings. ❑ Increased efficiency in the production sites enabled shutdown of
Slide 3: Revenue growth in Q4 of 1% in Core business
Revenue growth in Q4 of 1% in Core business Revenue 275 mDKK (274 mDKK) Cash conversion 0.3% 61.0% revenue growth (58.3%) NWC ratio Adjusted EBIT -5.0% 18 DKK (-7.4%) (29 mDKK) Adjusted EBIT margin 6.5% (10.6%) 3
Slide 4: Q4: Revenue development
Q4: Revenue development 2022 2021 2022 2021 Oct-Dec Oct-Dec Jan-Dec Jan-Dec Net revenue (mDKK) 275 274 1,146 1,108 - Revenue growth 0.3% 3.4% Q4 comments: ❑ Reported revenue in Denmark increased by 0.3% - 4.5% growth in core organic like-for-like growth excluding third party DK revenue in revenue (c
Slide 5: P&L highlights
P&L highlights 2022 2021 2022 2021 Oct-Dec Oct-Dec Jan-Dec Jan-Dec Net revenue (mDKK) 275 274 1,146 1,108 - Gross Margin 20.1% 21.1% 20.4% 23.0% Adjusted EBIT (mDKK) 18 29 103 138 - Adjusted EBIT margin 6.5% 10.6% 9.0% 12.4% Q4 comments: ❑ Decline in high margin B2C sales, offset by growth in lower
Slide 6: Increased headroom from renegotiated leverage covenant
Increased headroom from renegotiated leverage covenant 2022 2021 Dec Dec Net working capital (mDKK) -57 -82 NWC ratio -5.0% -7.4% NIBD (mDKK) 288 200 Leverage (incl. IFRS 16) 2.35 1.33 Q4 comments: ❑ Slight decrease in NWC compared to Q4 LY primarily due to higher trade receivables and lower trade p
Slide 7: Cash flow
Cash flow 2022 2021 2022 2021 Oct-Dec Oct-Dec Jan-Dec Jan-Dec Operating profit (mDKK) 18 21 97 138 Depreciation and amortization (mDKK) 4 4 18 17 Other non-cash operating items 2 0 2 -17 Change in NWC (mDKK) 44 33 -36 -38 Tax a.o (mDKK) -2 -19 -9 -26 Capex excl. acquisitions, net (mDKK) -14 -11 -33
Slide 8: Financial outlook 2023
Financial outlook 2023 TCM Group Financial outlook: ❑ High degree of uncertainty. Expected lower activity in 2023 in general and B2C sales expected to continue to be low going into 2023. ❑ Net revenue: 950-1,050mDKK ❑ EBIT: 70-100mDKK (EBIT excluding non-recurring items) Revenue development Adjusted
Slide 9: Q&A
Q&A