Slide 1: Kid ASA Q1 2017
Kid ASA 12 May 2017 Q1 2017 Presentation available at investor.kid.no
Slide 2: Highlights Q1 2017
Highlights Q1 2017 • Revenues increased by 10.1% compared to Q1 2016 • Gross margin of 59.9% (58.3%) • EBITDA of MNOK 7.2 (MNOK 0.1), representing an EBITDA margin of 2.9% (0.0%) • 1 store opening and 1 store closing during the quarter • NIBD/EBITDA of 1.5 (2.7) • Kid acquired five new lease agreeme
Slide 3: Revenues and market share
Revenues and market share Q1 revenues increased by 10.1% Revenue Market • Three additional shopping days in Q1 12,6 % due to timing of Easter 484 11,7 % • Like-for-like growth of 7.6% including 10,1 % 9,2 % online sales • Online sales growth of 27.7% 314 6,6 % 265 6,1 % 6,4 % • 1 new store and 1 sto
Slide 4: Revenues as of April
Revenues as of April As of April revenues are up 7.7% YTD compared to 2016 • Due to the revenue effect following the timing of Easter, Kid ASA has decided to announce the revenues per April in the Q1 report • There was one less shopping day per April compared to the same period in 2016 • Total reven
Slide 5: Operational focus
Operational focus Q1 operational summary: • Increased inventory level of base assortment has proven successful • Reduction of out-of-stock situations in stores during Q1 gave positive impact on sales growth • Going forward Kid will only offer paper bags in stores • The initiative is part of building
Slide 6: Hansen & Dysvik (HD)
Hansen & Dysvik (HD) Kid acquired five new lease agreements from HD in March • These locations will significantly strengthen our position in the Oslo region • Pilestredet 12, Oslo (new store) • Storo Storsenter, Oslo (new store) • Sandvika Storsenter, Sandvika (relocation of existing store) • Ski St
Slide 7: Store portfolio
Store portfolio Store portfolio development in Q1: • New store opened in Bøsenteret (Bø) at the end of the quarter • The store at Kvartal 48 (Hamar) was closed in the beginning of the quarter • The stores at Lillemarkens (Kristiansand), AMFI Voss (Voss) and Peer Gynt Senteret (Vinstra) were refurbis
Slide 8: Gross margin
Gross margin Gross margin increase of 1.6 pp in Q1 (IFRS9) Gross margins in 2016 and 2017 • Gross margin was 59.9% for the quarter, an 61,5% 61,1% increase of 1.6 pp from Q1 2016 58,3% 59,9% 59,7% • Kid ASA has adopted the IFRS9 retrospectively from 1 January 2015*. The transition period ended 31 Ma
Slide 9: EBITDA
EBITDA Adjusted EBITDA margin of 2.9% (0.0%) in Q1 Adjusted EBITDA 2016 and 2017 • EBITDA was positively affected by strong like-for-like growth, increased gross margins and a reduction of OPEX-to-sales by 1.0 118,3 percentage points. • Employee benefits expenses increased by 7.8% in Q1 2017, in lin
Slide 10: Income statement
Income statement Income statement Amounts in MNOK Q1 2017 Q1 2016 FY 2016 Revenue 253,9 230,6 1 293,9 COGS -101,9 -96,1 -515,3 Net profit margin of 16.6% (14.0%) in Q1 Gross profit 152,0 134,5 778,6 Gross margin (%) 59,9 % 58,3 % 60,2 % • Depreciation increased due to last years’ Other operating inc
Slide 11: Cash flow
Cash flow Cash flow Amounts in MNOK Q1 2017 Q1 2016 FY 2016 Net cash flow from operations -64,0 -94,2 172,0 Net cash flow from investments -6,4 -8,8 -34,8 NIBD/EBITDA of 1.5 per 31.03.2017 Net cash flow from financing -3,4 -3,7 -72,9 Net change in cash and cash equivalents -73,8 -106,7 64,3 • Increa
Slide 12: Operational initiatives
Operational initiatives Mid-term objectives unchanged • Well prepared summer assortment and campaigns ready to launch! • New facilities for the online store logistics operation is being finalised in May. The goal is to improve online stock availability, delivery times and cost efficiency • Strong pi
Slide 13: Q&A
Q&A