Slide 1: TCM Group A/S Interim Report July-September 2020
TCM Group A/S Interim Report July-September 2020 November 11, 2020
Slide 2: Business update Q3 2020
Business update Q3 2020 ❑ Growth driven by the Danish market primarily within branded stores including Nettoline and kitchn.dk as well as a higher revenue from 3rd party products ❑ The Danish kitchen market has been resilient despite Covid-19 ❑ The Norwegian kitchen market influenced by Covid-19 ❑ N
Slide 3: Revenue growth in Q3 of 4.2%
Revenue growth in Q3 of 4.2% Revenue 247 mDKK (238 mDKK) Cash conversion 4.2% 94.2% revenue growth (101.7%) NWC ratio EBIT -8.0% 32 mDKK (-7.3%) (34 mDKK) EBIT margin 13.0% (14.4%) 3
Slide 4: Q3 revenue growth driven by the Danish business
Q3 revenue growth driven by the Danish business 2020 2019 2020 2019 Jul-Sep Jul-Sep Jan-Sep Jan-Sep Net revenue (mDKK) 247 238 762 745 - Organic growth 4.2% 2.2% Q3 comments: 5.6% growth ❑ Revenue growth in Denmark was +5.6% in DK revenue ❑ Growth in Denmark driven by branded stores including Nettol
Slide 5: P&L highlights
P&L highlights 2020 2019 2020 2019 Jul-Sep Jul-Sep Jan-Sep Jan-Sep Net revenue (mDKK) 247 238 762 745 - Gross Margin 25.8% 28.1% 26.3% 27.4% EBIT (mDKK) 32 34 101 107 - EBIT margin 13.0% 14.4% 13.3% 14.4% Q3 comments ❑ Sales campaigns supported topline growth, but had a diluting impact on gross marg
Slide 6: NWC ratio improved vs LY supported by extended credit on VAT/income tax
NWC ratio improved vs LY supported by extended credit on VAT/income tax – part of the government’s stimulus packages 2020 2019 Sep Sep Net working capital (mDKK) -82 -73 NWC ratio -8.0% -7.3% NIBD (mDKK) 0 119 Leverage (x EBITDA) -0.1 0.6 Q3 comments ❑ NWC impacted favourably by stimulus packages of
Slide 7: High cash conversion continued
High cash conversion continued 2020 2019 2020 2019 Jul-Sep Jul-Sep Jan-Sep Jan-Sep Operating profit (mDKK) 32 34 101 107 Depreciation and amortization (mDKK) 6 6 16 16 Change in NWC (mDKK) -7 4 -27 -22 Tax a.o (mDKK) 0 0 -6 -5 Capex excl. acquisitions (mDKK) -6 -4 -14 -9 Operating cash flow excl. ac
Slide 8: Financial outlook 2020
Financial outlook 2020 TCM Group ❑ Full-year guidance for 2020 is reiterated: ❑ Net revenue: 980-1,020mDKK, which is at level on par with 2019 (1,007mDKK) ❑ EBIT: 135-145mDKK, slightly below 2019 (EBIT excluding non-recurring items) Revenue development Adjusted EBIT development DKKm DKKm 1,007 980-1
Slide 9: Q&A
Q&A