Tcm Group As · OMXCOP:TCM
Tcm Group As — Q3 2021 Earnings Presentation
11 slides from Tcm Group As's earnings presentation, Nov 12, 2021
Slide 1: TCM Group A/S Interim Report July-September 2021
TCM Group A/S Interim Report July-September 2021 November 12, 2021
Slide 2: Business update Q3 2021
Business update Q3 2021 ❑ Organic like-for-like growth of 10%. ❑ Customer demand remained solid in the quarter. ❑ Growth driven by all three brands with the highest growth rates within our DIY segment (Nettoline and e-commerce). ❑ Number of branded stores was 91 (88). New Nettoline store opened in R
Slide 3: Challenged supply chain
Challenged supply chain ❑ Unprecedented instability in the supply chain. ❑ On-going mitigation to limit impact on customers, leading to additional costs. ❑ Significant price increases on raw material. ❑ Sales price increase has been implemented and will mitigate the pressure on input costs in Q4. 3
Slide 4: Revenue growth in Q3 of 6.1%
Revenue growth in Q3 of 6.1% Revenue 262 mDKK (247 mDKK) Cash conversion 6.1% 56.4% revenue growth (94.3%) NWC ratio Adjusted EBIT -4.6% 32 DKK (-8.0%) (33 mDKK) Adjusted EBIT margin 12.1% (13.4%) 4
Slide 5: Q3 revenue growth driven by all brands
Q3 revenue growth driven by all brands 2021 2020 2021 2020 Jul-Sep Jul-Sep Jan-Sep Jan-Sep Net revenue (mDKK) 262 247 834 762 - Organic growth 6.1% 9.5% Q3 comments: ❑ Reported revenue growth in Denmark was +5.4%. 5.4% growth ❑ Growth in Denmark driven by all three brands. in DK revenue ❑ Highest gr
Slide 6: P&L highlights
P&L highlights 2021 2020 2021 2020 Jul-Sep Jul-Sep Jan-Sep Jan-Sep Net revenue (mDKK) 262 247 834 762 - Gross Margin 21.5% 26.2% 23.6% 26.6% Adjusted EBIT (mDKK) 32 33 109 103 - Adjusted EBIT margin 12.1% 13.4% 13.0% 13.6% Q3 comments: ❑ The divestment of the Svane Køkkenet store in Copenhagen and t
Slide 7: Non-recurring items
Non-recurring items ❑ Non-recurring items in the quarter: ❑ Covid-19 precautions and related supply chain disruptions of 3.5mDKK (1.0mDKK Q3 LY). ❑ Net gain from the divestment of the e-commerce activities in kitchn.dk of 15.5mDKK. 7
Slide 8: NWC ratio lower than LY
NWC ratio lower than LY 2021 2020 Sep Sep Net working capital (mDKK) -50 -82 NWC ratio -4.6% -8.0% NIBD (mDKK) 224 0 Leverage (x EBITDA) 1.31 -0.08 Q3 comments: ❑ Higher level of inventories was besides impact from increased raw material prices caused by a management decision to establish a buffer o
Slide 9: Cash flow
Cash flow 2021 2020 2021 2020 Jul-Sep Jul-Sep Jan-Sep Jan-Sep Operating profit (mDKK) 44 32 118 101 Depreciation and amortization (mDKK) 4 6 13 16 Other non-cash operating items -18 0 -18 0 Change in NWC (mDKK) -33 -7 -71 -27 Tax a.o (mDKK) 0 0 -7 -6 Capex excl. acquisitions (mDKK) -9 -6 -19 -14 Fre
Slide 10: Financial outlook 2021
Financial outlook 2021 TCM Group Financial outlook: ❑ Net revenue range reiterated: 1,090-1,120mDKK, corresponding to organic growth on the continuing business excluding the divestment of the Svane store in Copenhagen of 9-12%. ❑ Adjusted EBIT range narrowed: 148-155mDKK (previously 148-162mDKK). (E
Slide 11: Q&A
Q&A