Tcm Group As · OMXCOP:TCM
Tcm Group As — Q4 2025 Earnings Presentation
11 slides from Tcm Group As's earnings presentation, Feb 26, 2026
Slide 1: TCM Group A/S Roadshow Q4 2025
TCM Group A/S Roadshow Q4 2025 February 26, 2026
Slide 2: Business update Q4 2025
Business update Q4 2025 ❑ Year on year revenue growth of 10.5%, with an organic growth of 5.3%. ❑ Revenue in Q4 of DKK 333 million vs. DKK 301 million last year. ❑ Continued positive sales development in Norway, +12.8% in Q4 vs. last year ❑ Order intake developed positively in the B2C and B2B segmen
Slide 3: Q4: Financial highlights
Q4: Financial highlights 1 Revenue: 333 mDKK (301 mDKK) 2 Organic growth: 5.3% Adjusted EBIT: 30.9 mDKK 3 (29,8mDKK) 4 Adjusted EBIT-margin: 9.3% (9.9%) 5 NWC ratio: 0.5% (-1.2%) 6 Cash conversion: 72.2% (84.3%) 3
Slide 4: Revenue development
Revenue development Revenue development 400 350 300 250 mDKK 200 349 333 150 301 308 289 100 50 0 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q4 comments: ❑ Organic revenue increase of 5.8%. ❑ Revenue growth in Denmark of 10.1%. ❑ Revenue growth in Norway of 12.8%. ❑ Share of lower-margin third-party sales decrea
Slide 5: Income statement highlights
Income statement highlights Gross margin EBIT and EBIT margin Q4 comments: ❑ Gross margin improved to 24.3% (22.5%). ❑ Higher average selling prices ❑ Efficiency gains in production and the supply chain ❑ Own Retail stores and Celebert ❑ EBIT of DKK 49m (DKK 30m) ❑ Non-recurring income DKK 18m ❑ 5 m
Slide 6: Net working capital and Net-interest bearing debt
Net working capital and Net-interest bearing debt Net working capital Net interest-bearing debt Comments: ❑ NWC ratio 0.5% (-1.2%) ❑ Increase in NWC due to increased inventory, sales volume and retail debtors ❑ NIBD increased from DKK 316m to DKK 417m. ❑ Leverage ratio of 3.0x (2.5x Q4 LY). 6
Slide 7: Cash flow
Cash flow Free cash-flow Q4 comments: ❑ Free cash flow was DKK 7m compared to DKK 15m in Q4 LY. ❑ Capex ratio was 0.8% of revenue compared to 4.0% in Q4 LY. ❑ Cash conversion (LTM) of 72%. 7
Slide 8: Dividend distribution
Dividend distribution ❑ Dividend policy of distributing 40-60% of net profit. ❑ The Board of Directors propose a dividend of DKK 4,5 per share. ❑ Total distribution of DKK 46 million, equal to 60% of net profit for the year. 8
Slide 9: Acquisition of remaining stake in Celebert ApS
Acquisition of remaining stake in Celebert ApS • In 2021 TCM Group merged its online activities in kitchn.dk with Celebert ApS. • At the same time TCM Group acquired a 45% stake in Celebert ApS. • The majority shareholder has decided to exercise his put-option for the 55% stake in Celebert ApS. • Ce
Slide 10: Financial outlook 2026
Financial outlook 2026 Financial outlook: ❑ Net revenue: DKK 1,400-1,500 million ❑ Adjusted EBITA: DKK 120-140 million Revenue development Adjusted EBITA development Forward looking statements This presentation contains statements relating to the future, including statements regarding TCM Group’s fu
Slide 11: Q&A
Q&A