Slide 1: Kid ASA Q1 2020
Kid ASA 19 May 2020 Q1 2020 Presentation available at investor.kid.no
Slide 2: Financial first quarter in brief
Financial first quarter in brief • Revenues were negatively impacted by the outbreak of COVID-19. Group revenue1 growth of +0.7% with LFL growth of +0,9% – Kid Interior revenue growth of -3.6% (LFL growth of -4.0%) – Hemtex revenue1 growth of 6.6% (LFL growth of +7.9%) • Gross margin decreased by 0.
Slide 3: Operational focus in Q1
Operational focus in Q1 • Focus on safeguarding employees and customers’ health, whilst securing stable and predictable operational continuity • Maintained a strong financial position by taking prompt measures such as temporary staff layoffs, postponed investment decisions, postponed instalment and
Slide 4: Pan-Nordic presence
Pan-Nordic presence 275 Store information Q1 • Kid Interior (143 stores): 116 – Refurbishments: Årnes and Hamar – No stores opened in Q1 – Store closings: Hillevåg Stavanger 11 143 • Hemtex (132 stores, incl. 12 franchise stores): – Refurbishments: Norrköping Ingelsta, Örebro Krämaren and Upplands V
Slide 5: Revenues and market share
Revenues and market share Group revenues increased by 0.7%¹ Revenue (MNOK) Like-for-like growth (%) • Group like-for-like of 0.9%¹ including online sales • Kid Interior revenue growth of -3.6% (8.4%) 989 • Like-for-like growth of -4.0% (5.1%) including online sales 387 626 7.9 % • Online sales growt
Slide 6: Revenues as of April
Revenues as of April As of April revenues are up 2.7% YTD compared to 2019 • Group revenues1 – April: 9.3% total growth and 10.5% like-for-like growth – YTD: 2.7% total growth and 3.2% like-for-like growth • Kid Interior – April: 16.0% total growth and 15.2% like-for-like growth – YTD: 1.1% total gr
Slide 7: Gross margin
Gross margin Group gross margin of 60.1% in Q4 Group gross margins in 2019 and 2020¹ • Gross margin was 60.1 % for the quarter, down by 0.4 pp. First quarter last year was positively influenced by favorable FX-rates 60.5% 60.1% 62.6% 59.5% 60.1% • Gross margin for the group was negatively impacted b
Slide 8: EBITDA
EBITDA Adjusted1 EBITDA of 64.7 (52.0) in Q1 Adjusted EBITDA Q1 2020 versus Q1 2019 • Adjusted EBITDA excl. IFRS16 of MNOK -7.7 (15.1) for Q1 • Kid Interior EBITDA excl. IFRS16 of MNOK 1.3 (15.0) • Reduced EBITDA mainly as a consequence of lower sales (MNOK 6.5) and a reduced Gross Margin (MNOK 4.3)
Slide 9: Cash flow
Cash flow Cash Flow Solid financial position (Amounts in MNOK) Q1 2020 Q1 2019 FY 2019 ¹ Net cash flow from operaions -175.2 -46.6 523.6 • Cash flow from operations negatively Net Cash flow from investments -8.3 -12.7 -92.9 affected by decreased profit and increased Net cash flow from financing -99.
Slide 10: Segment: Kid Interior
Segment: Kid Interior (Amounts in NOK millions) Q1 2020 Q1 2019 FY 2019 Revenue 287.1 298.0 1,606.3 Revenue growth -3.6% 8.4 % 9.5 % LFL growth including online sales -4.0% 5.1 % 6.8 % COGS -117.7 -117.7 -622.6 Gross profit 169.5 180.3 983.7 Gross margin (%) 59.0 % 60.5 % 61.2 % Other operating reve
Slide 11: Segment: Hemtex
Segment: Hemtex (Amounts in NOK millions) Q1 2020 Q1 2019 ¹ FY 2019 Revenue 220.9 - 735.9 Revenue growth ² 6.6 % - 13.1 % LFL growth including online sales ² 7.9 % - 12.5 % COGS -81.0 - -290.5 Gross profit 139.9 - 445.4 Gross margin (%) 63.4 % - 60.5 % Other operating revenue 0.2 - 1.9 Employee bene
Slide 12: Half-year dividend
Half-year dividend Dividend of NOK 1.2 per share • The Board of Directors has proposed a half year dividend of NOK 1.20 per share for 2019 (44% of adjusted net income for last twelve months) • The board of directors will also propose to the annual general meeting that the board is given the authorit
Slide 13: Operational initiatives
Operational initiatives Mid-term objectives unchanged • Working closely with our suppliers to secure deliveries during COVID-19. We expect only minor delays during 2020 • Autostore in the central warehouse in Norway under assembley. Will further improve delivery efficiency from Q3 for both online cu
Slide 14: Q&A
Q&A
Slide 15: Income statement
Income statement (Amounts in NOK thousand) Q1 2020 Q1 2019 FY 2019 ¹ Revenue 508.0 298.0 2,342.2 COGS -202.7 -117.7 -925.7 Gross profit 305.3 180.3 1,416.5 Gross margin (%) 60.1 % 60.5 % 60.5 % Other operating revenue 0.3 0.0 2.1 OPEX -242.2 -128.3 -851.6 EBITDA 63.5 52.0 566.9 EBITDA margin (%) 12.