Slide 1: TCM Group A/S Interim Report April - June 2024
TCM Group A/S Interim Report April - June 2024 August 21, 2024
Slide 2: Business update Q2 2024
Business update Q2 2024 Organic revenue grew by 5% supported by strong growth in B2C sales. Revenue in Q2 of DKK 332 million vs. DKK 256 million last year, +30%. Total order-intake in Denmark up 9% compared to LY Q2. Gross margin improvement on LY Q2, up from 20.2% to 21.5%. Two AUBO store
Slide 3: The B2C market is in good shape while the B2B market is challenged
The B2C market is in good shape while the B2B market is challenged The strong order intake for B2C in Q1 continued in Q2 with order intake up more than 20% y-o-y. B2C revenue up 25% y-o-y in Q2. B2C orders generally have a higher average sales prices and thus more profitable than B2B orders (o
Slide 4: Q2: Organic sales growth and improved earnings
Q2: Organic sales growth and improved earnings Revenue 332 mDKK (256 mDKK) Cash conversion 30% 94.8% revenue increase (48.8%) y-o-y NWC ratio Adjusted EBIT -1.3% 28 mDKK (-0.1%) (22 mDKK) Adjusted EBIT margin 8.4% (8.7%) 4
Slide 5: Q2: Revenue development
Q2: Revenue development Revenue development Q2 comments: Reported revenue growth of 30.0% due to AUBO inclusion and organic growth. Organic revenue increase of 5.1% despite a decline in B2B-sales. Reported revenue in Denmark increased by 14.7%. Organic growth in Denmark of 5.6%. Revenue in
Slide 6: Income statement highlights
Income statement highlights Gross margin EBIT and EBIT margin Q2 comments: Gross margin significantly improved: 21.5% up from 20.2% in Q2 LY Sales mix as more profitable B2C sales took a bigger share of sales Inclusion of AUBO which operates with a higher Gross Margin Reported EBIT-margin de
Slide 7: Net working capital and NIBD
Net working capital and NIBD Net working capital Net interest-bearing debt Q2 comments: NWC ratio -1.3% compared to -0.1% LY Inventories on par with last quarter in spite of higher activity level. Inventories as percentage of sales reduced from 31% to 26%. NIBD reduced to DKK 326m through po
Slide 8: Cash flow
Cash flow Free cash-flow Q2 comments: Free cash flow was DKK 26m compared to DKK -2m in Q2 LY. Capex ratio was 1.3% of revenue compared to 2.3% in Q2 LY. Cash conversion of 95%, supported by the positive development in NWC in recent quarters. 8
Slide 9: Financial outlook 2024
Financial outlook 2024 Financial outlook: Net revenue: DKK 1,125-1,200 million (previously DKK 1,000-1,150 million) Adjusted EBIT: DKK 70-90 million (previously DKK 55-80 million) Adjusted EBIT includes an expected positive effect from adjustment of contingent payment obligations related to th
Slide 10: Q&A
Q&A