Slide 1: TCM Group A/S Interim Report April-June 2021
TCM Group A/S Interim Report April-June 2021 August 20, 2021
Slide 2: Business update Q2 2021
Business update Q2 2021 ❑ Organic growth of 14%. ❑ Growth driven by all four brands with the highest growth rates within our DIY segment (Nettoline and kitchn.dk). ❑ The market is characterized by continued high demand from our customers, but also with upward pressure on raw material prices, and cha
Slide 3: Capital structure
Capital structure ❑ Following the annual general meeting on April 13, 2021, a dividend of 130mDKK was distributed ❑ A share buy back program of up to 150mDKK was initiated during April 2021, and will run until 11 March 2022. ❑ As of 30 June 2021 TCM Group has acquired shares with a total cost price
Slide 4: Revenue growth in Q2 of 11.7%
Revenue growth in Q2 of 11.7% Revenue 291 mDKK (260 mDKK) Cash conversion 11.7% 71.5% revenue growth (101.8%) NWC ratio Adjusted EBIT -7.0% 44 DKK (-8.8%) (41 mDKK) Adjusted EBIT margin 15.2% (15.6%) 4
Slide 5: Q2 revenue growth driven by all brands
Q2 revenue growth driven by all brands 2021 2020 2021 2020 Apr-Jun Apr-Jun Jan-Jun Jan-Jun Net revenue (mDKK) 291 260 572 514 - Organic growth 11.7% 11.2% Q2 comments: ❑ Revenue growth in Denmark was +9.7%. 9.7% growth ❑ Growth in Denmark driven by all four brands. in DK revenue ❑ Highest growth rat
Slide 6: P&L highlights
P&L highlights 2021 2020 2021 2020 Apr-Jun Apr-Jun Jan-Jun Jan-Jun Net revenue (mDKK) 291 260 572 514 - Gross Margin 25.7% 27.8% 24.6% 26.7% Adjusted EBIT (mDKK) 44 41 77 70 - Adjusted EBIT margin 15.2% 15.6% 13.5% 13.7% Q2 comments: ❑ The divestment of the Svane Køkkenet store in Copenhagen had a t
Slide 7: NWC ratio lower than LY due to stimulus packages LY
NWC ratio lower than LY due to stimulus packages LY 2021 2020 Mar Mar Net working capital (mDKK) -76 -89 NWC ratio -7.0% -8.8% NIBD (mDKK) 153 19 Leverage (x EBITDA) 0.90 0.07 Q2 comments: ❑ NWC impacted favourably by stimulus packages of c. 10mDKK compared to c. 25mDKK in Q2 last year. ❑ Higher lev
Slide 8: Cash flow
Cash flow 2021 2020 2021 2020 Apr-Jun Apr-Jun Jan-Jun Jan-Jun Operating profit (mDKK) 43 40 74 69 Depreciation and amortization (mDKK) 4 5 8 11 Change in NWC (mDKK) 10 28 -38 -20 Tax a.o (mDKK) 0 0 -7 -6 Capex excl. acquisitions (mDKK) -4 -4 -10 -8 Free cash flow excl. acquisitions (mDKK) 52 69 28 4
Slide 9: Financial outlook 2021
Financial outlook 2021 TCM Group ❑ Financial outlook revised: ❑ Net revenue: 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: 148-162mDKK. (EBIT excluding non-recurring items) 9
Slide 10: Q&A
Q&A