Slide 1: Kid ASA Q4 2017
Kid ASA 13 February 2018 Q4 2017 Presentation available at investor.kid.no
Slide 2: Highlights Q4 2017
Highlights Q4 2017 • Revenues increased by 4.5% compared to Q4 2016 • Gross margin of 59.7% (59.7%) • EBITDA of MNOK 125.2 (MNOK 118.3), representing an EBITDA margin of 24.8% (24.5%) • 2 store openings and 1 store relocation • NIBD/EBITDA of 1.4 (1.2) • The Board of Directors proposes a half-year d
Slide 3: Revenues and market share
Revenues and market share Q4 revenues increased by 4.5% (11.7%) Revenue Market growth (LTM) • Like-for-like growth of -0.2% (8.9%) 506 including online sales 484 9,8 % 9,2 % 9,3 % • Online sales growth of 33.8% (64.5%) 8,2 % • 2 new stores and 1 store relocation in 344 314 the quarter 254 265 278 •
Slide 4: Store portfolio
Store portfolio Store portfolio development in Q4: • New store opened in Ski Storsenter (Ski) and Leknes (Lofoten) • The store at Skedsmo Senter (Skedsmo) was relocated • 140 (134) physical stores at the end of the quarter • All of the lease agreements that were acquired from Hansen & Dysvik were in
Slide 5: Operational focus
Operational focus Operational focus and sustainability: • Customer loyalty program had more than 900,000 members by year end • Proactively collecting acceptances for customer club members to ensure compliance with new GDPR regulations effective from May 2018 • Inventory level increase will strengthe
Slide 6: Gross margin
Gross margin Gross margin unchanged in Q4 (IFRS9) Gross margins in 2016 and 2017 • Gross margin was 59.7% for the quarter, 61,5% 61,6% 61,1% 60,8% unchanged compared to Q4 2016. 58,3% 59,9% 59,7% 59,7% • Gross margin of 60.4% for 2017, up 0.2pp from 2016. The gross margin reflects a high USDNOK leve
Slide 7: EBITDA
EBITDA EBITDA margin of 24.8% (24.5%) in Q4 EBITDA 2016 and 2017 • Employee benefits expenses increased by 1.0% in Q4 2017 • 3.6 pp due to net new stores 118,3 125,2 • -6.8 pp due to decreased provision for store and HQ bonuses • 4.2 pp due to general salary inflation and increased staffing level •
Slide 8: Income statement
Income statement Income statement Amounts in MNOK Q4 2017 Q4 2016 FY 2017 FY 2016 Revenue 505,5 483,8 1 381,7 1 293,9 COGS -203,9 -195,0 -547,6 -515,3 Net profit margin of 16.9% (16.6%) in Q4 Gross profit 301,7 288,8 834,0 778,6 Gross margin (%) 59,7 % 59,7 % 60,4 % 60,2 % • Depreciation increased d
Slide 9: Cash flow
Cash flow Cash flow Amounts in MNOK Net cash flow from operations Q4 2017 Q4 2016 191,6 244,1 FY 2017 FY 2016 118,1 172,0 Net cash flow from investments -8,0 -8,4 -47,1 -34,8 Net cash flow from financing -94,5 -1,6 -233,6 -72,9 NIBD/EBITDA of 1.4 (1.2) per 31.12.2017 Net change in cash and cash equi
Slide 10: Operational initiatives
Operational initiatives Mid-term objectives unchanged • Strong pipeline for store openings during 2018. New stores will open in Tvedt Senteret (Stavanger) in Q2, Jærhagen Senter (Klepp) during Q4 and Lagunen Storsenter (Bergen) in Q4. The store in Straen senteret (Stavanger) closed in January 2018.
Slide 11: Dividend 2017
Dividend 2017 Dividend of NOK 1.3 per share • The Board of Directors has made a decision to pay a half-year dividend of NOK 1.30 per share for 2017. Kid paid NOK 1.00 in dividend during November 2017 and, aggregated, the dividend of NOK 2.30 represents 73.8% of preliminary adjusted* net income for 2
Slide 12: Q&A
Q&A