Slide 1: Q3 2023 presentation
Kid ASA – Q3 presentation Kid ASA: Quarterly Report 1 Q3 2023 presentation
Slide 2: Financial summary
Financial summary Third quarter in brief • A strong quarter in terms of footfall and basket size, resulted in double- digit growth and all-time high EBITDA for the Group in Q3 • Group revenues increased by 13.1% (-2.1%). In constant currency: • Group revenues increased by 12.1% (+0.5%) • LFL revenue
Slide 3: Operational focus
Operational focus • Impactful “Hemtex 50 Years” campaign driving substantial customer traffic and revenues • Strong growth in established product categories as a result of product- and assortment development • “Atelier” by Camilla Pihl was successfully launched in May and contributed with revenues o
Slide 4: Revenues
REVENUES MNOK Revenues 1 109 831 405 730 724 735 Group revenues Q3 increased by 13.1% (-2.1%) 605 605 313 275 273 277 238 220 • In constant currency: 703 456 451 458 518 • Group revenues increase of 12.1% (+0.5%) 367 386 • Group like-for-like revenues increase of 12.9% (-0.4%) including online sales
Slide 5: Gross margin
Gross margin Strong gross margin development GROUP GROSS MARGIN • Group gross margin was 62.1% for the quarter, up by 6.6 pp % compared to Q3-22 • Kid Interior gross margin increased by 8.5 pp to 62.8% (54.3%) 62,2 % 62,1 % 61,2 % 60,4 % 60,0 % 58,8 % 56,9 % 56,0 % 55,5 % • Hemtex gross margin incre
Slide 6: OPEX
OPEX MNOK OPEX 283 285 275 335 260 272 267 159 122 116 122 114 OPEX-TO-SALES (excl. IFRS 16) of 43.6% (46.1%) 107 122 • Employee benefit expenses increased by MNOK 17.0 153 161 156 162 144 161 176 • Increased bonus provisions and general salary increase 2022 2023 2022 2023 2022 2023 2022 2023 • Incr
Slide 7: EBITDA
EBITDA MNOK 297 241 89 74 168 167 143 50 45 110 47 208 34 167 57 5 118 121 96 76 52 2022 2023 2022 2023 2022 2023 2022 2023 Q1 Q2 Q3 Q4 Kid Interior Hemtex 7 Kid ASA – Q3 presentation
Slide 8: Cash flow
Cash flow MNOK Satisfactory financial position and liquidity • Record high cash flow from operations in third quarter, due to increased profit and a constant working capital • Cash flow from investments reflects CAPEX in stores and online platform of MNOK 23.6, and investment in the new warehouse in
Slide 9: Store portfolio activity
NUMBER OF STORES PER QUARTER END Store portfolio activity Per quarter end 273* Completed 2023 Signed, but not yet completed NO: Rørvik (Q4-23) NO: Oslo City (Q1-24) NO: Trondheim Torg NO: Grünerløkka (Q2-25) 104* New stores FI: Lippulaiva, Espoo NO: Fredrikstad (Q4-24) SE: Burlöv (Q4-23) EST: Nautic
Slide 10: Outlook
Outlook • In Q4-23, a total of 3 stores will open in Norway, Sweden and Estonia. 1 store has opened (Rørvik), and the remaining 2 are scheduled to open at the end of November (Burlöv and Tallinn). • Additional 8 store projects will be carried out in Q4-23, with 4 projects in Kid Interior and 4 in He
Slide 11: Semi-annual dividend
Semi-annual dividend Dividend of NOK 2.75 per share • The Board of Directors has decided to pay a half-year dividend of NOK 2.75 per share as a prepayment on the fiscal year 2023 • Following the Q4 2023 results, the Board of Directors will propose the next half-year dividend to the annual general me
Slide 12: Q&A
Kid ASA – Q3 presentation Kid ASA: Quarterly Report 12 1 Q&A
Slide 13: Segment: Kid Interior
Segment: Kid Interior KID Interior (Amounts in NOK millions) Q3 2023 Q3 2022 Q1-Q3 2023 Q1-Q3 2022 FY 2022 Revenue 517,8 457,9 1 354,4 1 280,2 1 983,6 Revenue growth 13,1 % 1,4 % 5,8 % 7,0 % 5,3 % LFL growth including online sales 12,7 % -1,0% 4,8 % 4,6 % 3,2 % COGS -192,5 -209,3 -531,0 -533,3 -828,
Slide 14: Segment: Hemtex
Segment: Hemtex Hemtex (Amounts in NOK millions) Q3 2023 Q3 2022 Q1-Q3 2023 Q1-Q3 2022 FY 2022 Revenue 313,1 276,8 806,0 789,2 1 194,4 Revenue growth ¹ 10,5 % -1,0% -1,3% 3,9 % 3,2 % LFL growth including online sales ¹ 13,3 % 0,8 % 1,0 % 2,7 % 2,8 % COGS -122,7 -117,6 -324,1 -320,2 -503,6 Gross prof
Slide 15: Income statement
Income statement (Amounts in NOK thousand) Q3 2023 Q3 2022 Q1-Q3 2023 Q1-Q3 2022 Revenue 830,9 734,7 2 160,4 2 069,4 COGS -315,1 -326,9 -855,2 -853,5 Gross profit 515,8 407,8 1 305,3 1 215,9 Gross margin (%) 62,1 % 55,5 % 60,4 % 58,8 % Other operating revenue 1,0 1,5 2,6 4,0 OPEX -275,4 -266,6 -843,
Slide 16: Statement of financial position
Statement of financial position (Amounts in NOK thousand) Note 30.09.2023 30.09.2022 31.12.2022 (Amounts in NOK thousand) Note 30.09.2023 30.09.2022 31.12.2022 Assets Unaudited Unaudited Audited Equity and liabilities Unaudited Unaudited Audited Goodwill 9 67 581 67 266 65 479 Trademark 9 1 511 858
Slide 17: Allocated segment costs
Allocated segment costs Total year Total year (MNOK) Q1 2023 Q1 2022 Q2 2023 Q2 2022 Q3 2023 Q3 2022 Q4 2023 Q4 2022 2023 2022 Kid ASA and Kid Interior 4,2 3,3 4,0 4,0 4,0 4,0 3,9 12,3 15,2 Segment allocated employee benefits expense 0,5 0,6 0,5 0,6 0,5 0,5 0,5 1,4 2,1 Segment allocated other operat
Slide 18: Quarterly revenue growth
Quarterly revenue growth 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 % 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 % Kid Interior Hemtex Total growt
Slide 19: Sales days and stores
Sales days and stores Kid Interior Hemtex Number of sales days Number of sales days Year Q1 Q2 Q3 Q4 Total Year Q1 Q2 Q3 Q4 Total 2022 76 72 79 81 308 2022 89 90 92 91 362 2023 77 71 79 227 2023 89 90 92 271 Number of store projects Number of store projects 2022 Q1 Q2 Q3 Q4 Total 2022 Q1 Q2 Q3 Q4 To
Slide 20: Logistic costs – Sweden
Logistic costs – Sweden Logistic costs - Sweden Total year Total year (MSEK) Q1 2023 Q1 2022 Q2 2023 Q2 2022 Q3 2023 Q3 2022 Q4 2023 Q4 2022 2023 2022 Employee benefits expense 2.2 4.4 6.5 Third-party logistics expense 12.1 10.5 1.7 10.9 12.4 15.4 13.9 49.1 Central warehouse expenses 2.0 1.7 9.9 2.0