Tcm Group As · OMXCOP:TCM

Tcm Group As — Q1 2024 Earnings Presentation

11 slides from Tcm Group As's earnings presentation, May 16, 2024

  1. Slide 1: TCM Group A/S Interim Report January - March 2024

    TCM Group A/S Interim Report January - March 2024 May 16, 2024

  2. Slide 2: Business update Q1 2024

    Business update Q1 2024  Revenue in Q1 of DKK 293 million vs. DKK 264 million last year.  Organic revenue decline of 12.3% in the quarter, but B2C market in Denmark starting to pick up with order intake up by more than 10%  Total order-intake in Denmark up 3%  Gross margin improvement on LY Q1,

  3. Slide 3: B2C market supporting sales in weak B2B environment

    B2C market supporting sales in weak B2B environment  Strong foothold in B2B in line with the long-term strategy  B2B sales offers long-term customer relationships and sales pipeline stability, but at lower average sales prices and margins  B2B market challenged as builders are reluctant to start

  4. Slide 4: Market focus: Norway

    Market focus: Norway  Norway represents 20% of group revenue in Q1, with AUBO playing a big role in Norway  10 Svane shops  55 AUBO shop-in-shops  24 Nettoline shop-in-shops  Organic decline in revenue of 27% in the quarter as the Norwegian market has seen a sharp slowdown as higher uncertainty

  5. Slide 5: Q1: Overall development in line with our expectations

    Q1: Overall development in line with our expectations Revenue 293 mDKK (264 mDKK) Cash conversion 11% 69.2% revenue increase (61.5%) y-o-y NWC ratio Adjusted EBIT -0.8% 16 mDKK (-1.4%) (13 mDKK) Adjusted EBIT margin 5.4% (4.9%) 5

  6. Slide 6: Q1: Revenue development

    Q1: Revenue development Revenue development 350 306 293 300 264 256 259 62 61 250 55 200 mDKK 150 264 256 244 231 100 204 50 0 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 TCM legacy AUBO Q1 comments:  Reported revenue growth of 10.9% due to AUBO inclusion  Reported revenue in Denmark declined by 2.1%.  Revenue

  7. Slide 7: Income statement highlights

    Income statement highlights Gross margin EBIT and EBIT margin 25,0% 25 10,0% 22,3% 8,7% 20,2% 20,7% 9,0% 18,9% 20,0% 17,7% 20 8,0% 7,0% 5,8% 15,0% 15 5,4% 6,0% 4,9% mDKK 5,0% 22,3 10,0% 10 4,0% 17,8 15,8 3,0% 13,1 5,0% 5 1,0% 2,0% 1,0% 2,5 0,0% 0 0,0% Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q1 23 Q2 23 Q3 23

  8. Slide 8: Net working capital and NIBD

    Net working capital and NIBD Net working capital Net interest-bearing debt 50 450 400 40 40 350 30 300 20 250 mDKK mDKK 200 417 10 349 347 150 315 -1 259 0 100 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 50 -10 -16 -16 -9 0 -20 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q1 comments:  NWC ratio -0.8% compared to -1.4% LY  AU

  9. Slide 9: Cash flow

    Cash flow Free cash-flow 80 60 40 60 20 mDKK 18 13 -2 0 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 -20 -36 -40 -60 Q1 comments:  Free cash flow was DKK 13m compared to DKK -36m in Q1 LY.  Capex ratio was 1.0% of revenue on par with LY.  Cash conversion of 69%. 9

  10. Slide 10: Financial outlook 2024 reiterated

    Financial outlook 2024 reiterated Financial outlook:  Net revenue: DKK 1,000-1,150  Adjusted EBIT: DKK 55-85m (EBIT excluding non-recurring items) Revenue development Adjusted EBIT development DKKm DKKm 140 138 1,000 - 1,150 1,111 1,084 103 1,073 55-85 993 56 2020 2021 2022 2023 2024 2020 2021 202

  11. Slide 11: Q&A

    Q&A

TCM Group — Q1 2024 Earnings Presentation on 6ix