Tcm Group As · OMXCOP:TCM
Tcm Group As — Q2 2025 Earnings Presentation
10 slides from Tcm Group As's earnings presentation, Aug 20, 2025
Slide 1: TCM Group A/S Interim Report April - June 2025
TCM Group A/S Interim Report April - June 2025 August 20, 2025
Slide 2: Business update Q2 2025
Business update Q2 2025 Year on year revenue growth of 5.1%, with an organic growth of 3.3%. Revenue in Q2 of DKK 349 million vs. DKK 332 million last year. Continued positive sales development in Norway, +5.2% in the quarter Increase in both B2C and B2B sales but early signs of slowdown in
Slide 3: Q2: Revenue growth, improved earnings
Q2: Revenue growth, improved earnings 1 Revenue: 349 mDKK (332 mDKK) 2 Organic growth: 3% YoY 3 Adjusted EBIT: 34 mDKK (28 mDKK) 4 Adjusted EBIT-margin: 9.6 % (8.4%) 5 NWC ratio: -0.7% (-1.1%) 6 Cash conversion: 78.6% (92.5%) 3
Slide 4: Revenue development
Revenue development Revenue development 400 Core Third-party 400 350 350 300 24% 300 24% 23% 250 250 29% 26% mDKK mDKK 200 200 332 349 150 301 308 150 278 76% 76% 77% 100 100 74% 71% 50 50 0 0 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q2 comments: Organic revenue increase of 3.3%
Slide 5: Income statement highlights
Income statement highlights Gross margin EBIT and EBIT margin 23.7% 30.0 12.0% 24.0% 22.5% 21.5% 25.0 10.0% 22.0% 21.1% 9.9% 20.3% 9.6% 20.0 8.0% 20.0% 8.4% 33.6 mDKK 15.0 29.8 6.0% 18.0% 28.0 6.0% 5.6% 16.0% 10.0 4.0% 16.7 17.1 14.0% 5.0 2.0% 12.0% 0.0 0.0% Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 10.0% Q2 24
Slide 6: Net working capital and Net-interest bearing debt
Net working capital and Net-interest bearing debt Net working capital Net interest-bearing debt Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 350 2 345 0 1 340 -2 -4 335 -4 330 mDKK -6 -9 325 mDKK 343 -8 320 315 332 329 -10 326 310 -12 316 -13 305 -14 -14 300 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 -16 Comments: NWC ratio
Slide 7: Cash flow
Cash flow Free cash-flow 35 30 25 20 32 mDKK 15 26 10 15 5 6 0 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 -5 -4 -10 Q2 comments: Free cash flow was DKK 32m compared to DKK 26m in Q2 LY. Capex ratio was 1.2% of revenue compared to 1.3% in Q2 LY. Cash conversion (LTM) of 79%. 7
Slide 8: Acquisition of remaining stake in Celebert ApS
Acquisition of remaining stake in Celebert ApS • In 2021 TCM Group merged its online activities in kitchn.dk with Celebert ApS. • At the same time TCM Group acquired a 45% stake in Celebert ApS. • The majority shareholder has decided to exercise his put-option for the 55% stake in Celebert ApS. • Ce
Slide 9: Financial outlook 2025
Financial outlook 2025 Financial outlook maintained: Net revenue: DKK 1,250-1,300 million (previously DKK 1,250-1,325 million) Adjusted EBIT: DKK 90-110 million (previously DKK 90-110 million) Acquisition of Celebert ApS expected toward the end of the year, subject to regulatory approval. Reve
Slide 10: Q&A
Q&A