Slide 1: Kid ASA – Q1 presentation
Kid ASA – Q1 presentation 1
Slide 2: First quarter in brief
First quarter in brief • Group revenues increased by 15.0% (+0.1%). In constant currency: • Group revenues increased by 13.7% (-1.3%) • LFL revenues increased by 13.5% (-0.3%) • Online revenues increased by 16.2% (+1.8%) • Gross margin increased by 5.5 percentage points to 61.5% • EBITDA increased b
Slide 3: First quarter in brief
First quarter in brief • Third consecutive quarter with double-digit revenue growth • Categories launched since 2022 accounted for MNOK 27.0 (MNOK 9.8) in revenues • The Extended concept was launched online and in selected larger stores (+600 sqm.) in Hemtex • Completed 8 store projects in Kid Inter
Slide 4: Group revenues Q1 increased by 15.0% (+0.1%)
1,253 485 831 724 Group revenues Q1 increased by 15.0% (+0.1%) 605 696 313 259 273 220 • In constant currency: 518 769 386 438 451 • Group revenues increase of 13.7% (-1.3%) 2023 2024 2023 2024 2023 2024 2023 2024 • Group like-for-like revenues increase of 13.5% (-0.3%) including online sales Q1 Q2
Slide 5: Strong gross margin development
Strong gross margin development • Group gross margin was 61.5% for the quarter, up 5.5pp compared to Q1-23 63.4 % 62.2 % 62.1 % 61.5 % 61.5 % • 56.0 % 56.0 % Kid Interior gross margin increased by 6.1pp to 61.5% (55.4%) • Hemtex gross margin increased by 4.2pp to 61.4% (57.2%) • Gross margin has imp
Slide 6: OPEX-TO-SALES (excl. IFRS 16) of 57.5% (60.5%)
376 305 283 285 275 156 OPEX-TO-SALES (excl. IFRS 16) of 57.5% (60.5%) 126 122 122 114 • Employee benefit expenses increased by MNOK 18.1 179 220 161 162 161 • General salary increase and increased number of HQ employees 2023 2024 2023 2024 2023 2024 2023 2024 • Increased logistics due to own employ
Slide 7: EBITDA by quarter: Kid Interior and Hemtex
420 144 241 167 74 125 45 275 33 57 167 5 121 92 52 2023 2024 2023 2024 2023 2024 2023 2024 Q1 Q2 Q3 Q4 Kid Interior Hemtex 7 Kid ASA – Q1 presentation
Slide 8: Cash flow development
Cash flow development • Cash flow from operations affected by inventory build-up during the quarter • Cash flow from investments reflects mainly CAPEX relating to store openings and projects • Cash flow from financing represents use of overdraft facility and lease payments Lease Change in Net Change
Slide 9: Robust financial position
Robust financial position • Cash and available credit facilities of MNOK 1,123.7 554.7 554.7 (MNOK 328.6), including an unused term- 247.0 199.7 loan facility of MNOK 125 related to investments in 230.0 230.0 the Swedish warehouse 569.0 125.0 125.0 47.3 • Net interest-bearing debt excl. IFRS 16 leas
Slide 10: Store projects 2024
275* Completed 2024 Signed, but not yet completed NO: Egersund (Q2-24) NO: Fredrikstad (Q4-24) New stores NO: Oslo City NO: Grünerløkka (Q2-25) SE: Vetlanda (Q2-24) 104* SE: Ringen, Stockholm (Q2-24) Closures NO: 1 store NO: 1 store SE: 1 store SE: 3 stores 7 157 NO: 4 stores NO: 3 stores Relocation
Slide 11: Profitable store size expansion
Profitable store size expansion • Existing categories and products need at least 600 sqm. to be displayed in a physical store, which is the foundation for our new 23.3 standard store size 16.6 15.4 • Kid Group is working to develop the store portfolio towards the new 11.9 10.4 standard store size (~
Slide 12: Store projects fuel reported like-for-like revenue growth
Store projects fuel reported like-for-like revenue growth • 14 Kid Interior stores and 17 Hemtex stores were refurbished or relocated with our latest store concept in 2022 and outperformed the remaining 10.8 % store portfolio • Expansion combined with refurbishment or relocation is considered an imp
Slide 13: Number of stores
2021 #Stores Avg. SQM Revenue/Store Revenue/SQM (MNOK) (NOK) Potential in continued portfolio optimisation and expansion Hemtex 117 367 8.2 23,300 Kid Interior 147 458 11.6 25,700 • Compared to 2021, Kid Interior and Hemtex have increased the 2023 #Stores Avg. SQM Revenue/Store Revenue/SQM average s
Slide 14: Outlook and recent events: store projects in H1-24
• In H1-24, we have 15 store projects in Kid Interior and 12 in Hemtex. These projects include a combination of refurbishment, enlargement and relocations • Raised ambition from 10 to 15 Extended stores in total for the Norwegian market • Made-to-measure technical sun screening to be launched in Hem
Slide 15: Financial performance, store portfolio, dividend policy and capital structure
FINANCIAL PERFORMANCE (FULL-YEAR BASIS) STORE PORTFOLIO DIVIDEND POLICY & CAPITAL STRUCTURE • • • • • • • • • • • 15 Kid ASA – Q1 presentation
Slide 16: Kid ASA – Q1 presentation
Kid ASA – Q1 presentation 16
Slide 17: KID Interior
KID Interior (Amounts in NOK millions) Q1 2024 Q1 2023 FY 2023 Revenue 437.7 385.9 2,122.9 Revenue growth 13.4 % 5.2 % 7.0 % LFL growth including online sales 12.7 % 3.5 % 6.1 % COGS -168.3 -172.2 -796.2 Gross profit 269.4 213.7 1,326.7 Gross margin (%) 61.5 % 55.4 % 62.5 % Other operating revenue 0
Slide 18: Hemtex
Hemtex (Amounts in NOK millions) Q1 2024 Q1 2023 FY 2023 Revenue 258.8 219.5 1,290.7 Revenue growth ¹ 14.3 % -10.9% 3.2 % LFL growth including online sales ¹ 14.9 % -6.5% 4.4 % COGS -99.9 -94.0 -518.0 Gross profit 158.9 125.5 772.6 Gross margin (%) 61.4 % 57.2 % 59.9 % Other operating revenue 0.8 0.
Slide 19: Group income statement
(Amounts in NOK thousand) Q1 2024 Q1 2023 FY 2023 Revenue 696.5 605.4 3,413.6 COGS -268.2 -266.2 -1,314.3 Gross profit 428.2 339.2 2,099.3 Gross margin (%) 61.5 % 56.0 % 61.5 % Other operating 0.8 0.6 4.3 revenue OPEX -304.6 -283.2 -1,219.1 EBITDA 124.5 56.6 884.5 EBITDA margin (%) 17.9 % 9.3 % 25.9
Slide 20: Balance sheet
(Amounts in NOK thousand) Note 31.03.2024 31.03.2023 31.12.2023 (Amounts in NOK thousand) Note 31.03.2024 31.03.2023 31.12.2023 Assets Unaudited Unaudited Audited Equity and liabilities Unaudited Unaudited Audited Goodwill 9 70,328 69,957 70,169 Trademark 9 1,513,974 1,513,696 1,513,851 Share capita
Slide 21: Segment allocated expenses
Total year Total year (MNOK) Q1 2024 Q1 2023 Q2 2024 Q2 2023 Q3 2024 Q3 2023 Q4 2024 Q4 2023 2024 2023 Kid ASA and Kid Interior Segment allocated employee benefits 4.0 4.2 4.0 4.0 6.6 4.0 18.9 expense Segment allocated other operating 1.2 0.5 0.5 0.5 1.3 1.2 2.6 expense Hemtex Segment allocated empl
Slide 22: Revenue growth history
Group Total growth Year Q1 Q2 Q3 Q4 2021 10.4 % 3.9 % 3.6 % 2.5 % 2022 9.3 % 8.8 % 0.5 % 2.1 % 2023 -1.3 % -2.5 % 12.1 % 10.2 % 2024 13.7 % Like-for-like growth Year Q1 Q2 Q3 Q4 2021 9.3 % 2.9 % 0.1 % 0.2 % 2022 7.3 % 5.6 % -0.4 % 1.8 % 2023 -0.3 % -3.3 % 12.9 % 9.3 % 2024 13.5 % Kid Interior Hemtex
Slide 23: Sales days and store projects
Kid Interior Hemtex Number of sales days Number of sales days Year Q1 Q2 Q3 Q4 Total Year Q1 Q2 Q3 Q4 Total 2023 77 71 79 79 306 2023 89 90 92 91 362 2024 75 75 2024 90 90 Number of store projects Number of store projects 2023 Q1 Q2 Q3 Q4 Total 2023 Q1 Q2 Q3 Q4 Total New stores 0 1 0 1 2 New stores
Slide 24: Logistic costs - Sweden
Logistic costs - Sweden Total year Total year (MSEK) Q1 2024 Q1 2023 Q2 2024 Q2 2023 Q3 2024 Q3 2023 Q4 2024 Q4 2023 2024 2023 Employee benefits expense 5.4 2.2 4.4 5.2 5.4 11.7 Third-party logistics expense 12.1 1.7 13.9 Central warehouse expenses* 7.7 2.0 9.9 8.3 7.6 7.7 27.8 Total incl. non-recur