Tcm Group As · OMXCOP:TCM
Tcm Group As — Q1 2022 Earnings Presentation
9 slides from Tcm Group As's earnings presentation, May 18, 2022
Slide 1: TCM Group A/S Interim Report January-March 2022
TCM Group A/S Interim Report January-March 2022 May 18, 2022
Slide 2: Business update Q1 2022
Business update Q1 2022 ❑ Organic like-for-like growth excluding third party revenue (core business) of 7%. ❑ Decline in low-margin revenue from third party products. ❑ Unstable supply situation ❑ Number of branded stores was 94 (91). New Nettoline store opened in Næstved. 2
Slide 3: Revenue growth in Q1 of 0.1%
Revenue growth in Q1 of 0.1% Revenue 281 mDKK (281 mDKK) Cash conversion 0.1% 60.5% revenue growth (83.4%) NWC ratio Adjusted EBIT -3.4% 26 DKK (-6.6%) (33 mDKK) Adjusted EBIT margin 9.3% (11.7%) 3
Slide 4: Q1 revenue growth driven DIY segment and Svane Køkkenet
Q1 revenue growth driven DIY segment and Svane Køkkenet 2022 2021 Jan-Mar Jan-Mar Net revenue (mDKK) 281 281 - Revenue growth 0.1% Q1 comments: ❑ Reported revenue growth in Denmark was -1.1% - -1.1% growth organic like-for-like growth excluding third party in DK revenue revenue (core business) in De
Slide 5: P&L highlights
P&L highlights 2022 2021 Jan-Mar Jan-Mar Net revenue (mDKK) 281 281 - Gross Margin 21.3% 23.5% Adjusted EBIT (mDKK) 26 33 - Adjusted EBIT margin 9.3% 11.7% Q1 comments: ❑ The merge of the e-commerce activities in kitchn.dk and Celebert had a technical negative impact on gross margin of in total 1.0%
Slide 6: NWC ratio lower than LY
NWC ratio lower than LY 2022 2021 Mar Mar Net working capital (mDKK) -38 -69 NWC ratio -3.4% -6.6% NIBD (mDKK) 278 -14 Leverage (x EBITDA) 1.89 -0.09 Q1 comments: ❑ Higher level of inventories was due to impact from increased raw material prices, and a decision to increase the stock of parts and raw
Slide 7: Cash flow
Cash flow 2022 2021 Jan-Mar Jan-Mar Operating profit (mDKK) 21 32 Depreciation and amortization (mDKK) 4 5 Change in NWC (mDKK) -43 -51 Tax a.o (mDKK) -8 -7 Capex excl. acquisitions (mDKK) -7 -8 Free cash flow excl. acquisitions (mDKK) -33 -25 Cash conversion ratio 60.5% 83.4% Capex ratio 1.9% 2.8%
Slide 8: Financial outlook 2022
Financial outlook 2022 TCM Group Financial outlook reiterated: ❑ Net revenue: 1,150-1,225mDKK, corresponding to organic growth of 4-11%. ❑ Adjusted EBIT: 140-170mDKK. (EBIT excluding non-recurring items) Revenue development Adjusted EBIT development DKKm DKKm 1150-1225 1108 140-170 1007 1025 154 140
Slide 9: Q&A
Q&A