Slide 1: Kid ASA Q2 2020
Kid ASA 20 August 2020 Q2 2020 Presentation available at investor.kid.no
Slide 2: Financial second quarter in brief
Financial second quarter in brief • Proforma Group revenues1 increased by 22.7% and LFL growth was 23.6% – Kid Interior revenue growth of 28% (LFL growth of 27.1%) – Hemtex revenue1 growth of 14.7% (LFL growth of 18.0%) • Gross margin decreased by 0.7 pp due to more favourable FX position last year
Slide 3: Operational focus in Q2
Operational focus in Q2 • Challenging Covid-19 situation with lay-offs, temporary store closures and volatile demand • Launched new outdoor product range with furniture, plant pots, etc. Potential for further product and assortment development • Strong sales of technical sun screening as a new categ
Slide 4: Pan-Nordic presence
Pan-Nordic presence 275 Store information Q2 • Kid Interior (143 stores): 116 – Refurbishments: Gulskogen and Vågsbygd – No opened or closed stores in Q2 11 • Hemtex (132 stores, incl. 12 franchise stores): 143 – No changes in store portfolio in Q2 5 • No stores currently closed due to COVID-19 Kid
Slide 5: Revenues and market share
Revenues and market share Group revenues increased by 22.7%¹ Revenue (MNOK) Like-for-like growth (%) • Group like-for-like of 23.6%¹ including online sales • Kid Interior revenue growth of 28.0% (14.2%) • Like-for-like growth of 27.1% (11.0%) including online sales • Online sales growth of 67.7 % (3
Slide 6: Gross margin
Gross margin Group gross margin of 61.9% in Q2 Group gross margins in 2019 and 2020¹ • Gross margin was 61.9 % for the quarter, down by 0.7 pp. Second quarter last year was positively influenced by favorable FX-rates • Kid Interior gross margin was reduced by 0.8 pp from 62.4% to 61.6%. The reductio
Slide 7: EBITDA
EBITDA Adjusted EBITDA of 176.0 (85.8) in Q2 Adjusted1 EBITDA Q2 2020 versus Q2 2019 • Adjusted EBITDA excl. IFRS16 of MNOK 104.6 (34.7) for Q2 • Kid Interior EBITDA excl. IFRS16 of MNOK 76.1 (32.6) • Increased EBITDA mainly due to increased revenues • Estimated COVID-19 cost saving effects during t
Slide 8: Cash flow
Cash flow Solid financial position (Amounts in NOK million) Q2 2020 Q2 2019 ¹ H1 2020 H1 2019 ¹ FY 2019 ¹ Net cash flow from operaions 256,1 30,2 80,9 -16,5 523,6 • Cash flow from operations positively affected by high revenues and increased profit together with Net Cash flow from investments -16,8
Slide 9: Segment: Kid Interior
Segment: Kid Interior (Amounts in NOK millions) Q2 2020 Q2 2019 H1 2020 H1 2019 FY 2019 Revenue 411,5 321,4 698,6 619,4 1 606,3 Revenue growth 28,0 % 14,2 % 12,8 % 11,3 % 9,5 % LFL growth including online sales 27,1 % 11,0 % 12,1 % 7,8 % 6,8 % COGS -157,9 -120,8 -275,6 -238,5 -622,6 Gross profit 253
Slide 10: Segment: Hemtex
Segment: Hemtex (Amounts in NOK millions) Q2 2020 Q2 2019 ¹ H1 2020 H1 2019 ¹ FY 2019 ¹ Revenue 249,0 107,4 469,9 107,4 735,9 Revenue growth ² 14,7 % -1,8% 10,7 % -1,8% 13,1 % LFL growth including online sales ² 18,0 % 3,2 % 13,0 % 3,2 % 12,5 % COGS -93,2 -38,5 -174,1 -38,5 -290,5 Gross profit 155,9
Slide 11: Operational initiatives
Operational initiatives Mid-term objectives unchanged • Continue to monitor the Covid-19 situation. No major sourcing challenges expected, but conditions may change fast • Postponed store refurbishments reinitiated and expected to be finalized before Christmas • New store signed in Kalmar (Sweden),
Slide 12: Q&A
Q&A
Slide 13: Income statement
Income statement (Amounts in NOK thousand) Q2 2020 Q2 2019 ¹ H1 2020 H1 2019 ¹ Revenue 660,5 428,8 1 168,5 726,8 COGS -251,8 -160,2 -454,5 -278,0 Gross profit 408,7 268,6 714,0 448,8 Gross margin (%) 61,9 % 62,6 % 61,1 % 61,8 % Other operating revenue 0,0 0,9 0,4 0,9 OPEX -232,7 -193,0 -474,9 -321,3
Slide 14: Sales days and stores
Sales days and stores Kid Hemtex Number of sales days Number of sales days Year Q1 Q2 Q3 Q4 Total Year Q1 Q2 Q3 Q4 Total 2019 76 71 79 80 306 2019 90 92 91 273 2020 77 72 79 80 308 2020 91 90 181 Number of store projects Number of store projects 2019 Q1 Q2 Q3 Q4 Total 2019 Q1 Q2 Q3 Q4 Total New stor