Slide 1: TCM Group A/S Interim Report January-December 2017
TCM Group A/S Interim Report January-December 2017 February 28, 2018
Slide 2: Strong financial performance in 2017
Strong financial performance in 2017 18% organic growth Adjusted Revenue EBITA 123 817 mDKK mDKK Adj. EBITA NWC ratio margin -9.9% 15.0% Cash conversion 110%
Slide 3: Business review 2017
Business review 2017 Strong Danish market development in 2017, but TCM Group continues to gain market share Agreements in place to open three new branded stores New Svane product line RAW successfully launched Nettoline integration near completion First robot centre implemented at the tabl
Slide 4: Financial highlights Q4
Financial highlights Q4 Q4 2017 Net revenue 215 mDKK (162) Organic growth of 17% Adjusted EBITA 39 mDKK (28) Adjusted EBITA margin 18.3% (17.3) NWC ratio -9.9% (-9.9) Cash conversion ratio 110% (108) Net interest bearing debt 226 mDKK (171)
Slide 5: TCM Group continues its strong growth track record
TCM Group continues its strong growth track record 2017 2016 2017 2016 Oct-Dec Oct-Dec Jan-Dec Jan-Dec Net revenue (mDKK) 215 162 817 600 - Organic growth 17% 18% - Acquired growth 15% 18% Q4 comments Organic growth continued in Q4 Net revenue development (mDKK) 817 Growth both in Denmark and ex
Slide 6: EBITA margin (adjusted) continues to improve – EBIT impacted by non-recurring costs
EBITA margin (adjusted) continues to improve – EBIT impacted by non-recurring costs 2017 2016 2017 2016 Oct-Dec Oct-Dec Jan-Dec Jan-Dec Net revenue (mDKK) 215 162 817 600 - Gross Margin 31.3% 31.5% 28.3% 29.9% Adjusted EBITA (mDKK) 39 28 123 86 - Adj. EBITA margin 18.3% 17.3% 15.0% 14.4% EBIT (mDKK)
Slide 7: NWC ratio on par with last year, despite Nettoline acquisition
NWC ratio on par with last year, despite Nettoline acquisition 2017 2016 Dec Dec Net working capital (mDKK) -81 -59 NWC ratio -9.9% -9.9% NIBD (mDKK) 226 171 Leverage (x EBITDA) 1.7 1.8 Q4 comments NWC ratio development NWC ratio on par with last year, despite the Nettoline 4% acquisition – Nettol
Slide 8: High cash conversion continues
High cash conversion continues 2017 2016 2017 2016 Oct-Dec Oct-Dec Jan-Dec Jan-Dec Operating profit (mDKK) 25 26 81 54 Depreciation and amortization (mDKK) 4 4 24 18 Change in NWC (mDKK) 32 29 27 24 Tax a.o (mDKK) -26 -11 -24 -13 Capex excl. acquisitions (mDKK) -3 -3 -8 -4 Operating cash flow excl.
Slide 9: Financial targets 2018
Financial targets 2018 Market Denmark: Growth expected to be slower than in 2017 – 2-3% Norway and Sweden: Market expected to be negatively affected by decrease in real estate prices and a slow down in new builds TCM Group Net revenue: 870-900 mDKK Note: Fewer delivery days in Q1 compared to
Slide 10: Q&A
Q&A