Business
Kid : Presentation of 1st quarter 2026
Kid : Presentation of 1st quarter
About this update from Kid Asa
Kid ASA - Q1 presentation 1 Financial summary Group revenues increased by 9.1% (+5.3%) to MNOK 800.5, positively impacted by seasonal assortments and strong Online development: Group revenues increased by 8.0% (+4.4%) LFL revenues increased by 6.1% (+2.9%) Online revenues increased by 24.8% (+6.6%) Gross margin increased to 61.2% (60.6%), impacted positively by freight, clearance sale and product mix OPEX increased by 8.6% (+8.3%) impacted by new stores, project activity, earlier distribution of spring and summer assortments and currency EBITDA increased by MNOK 17.3 to MNOK 132.7 (MNOK 115.3) 2 Kid ASA - Q1 presentation Operational summary Warehouse operations stabilised. Normalised capacity and allocation to stores. Efficiency improving. Further gains expected as system replacements progress Norwegian warehouse exit progressing. Sublease coverage improved and supports 2026 cost base System modernisation on track. POS rollout well advanced. Workforce management implemented in Norway 3 Kid ASA - Q1 presentation Operational summary Category development continues to be a key growth driver Solid growth across major and focus categories - alongside continued positive development in new categories New categories launched since 2022 generated MNOK 50.6 (MNOK 48.1) in revenues. Definition revised to include all furniture categories Store portfolio development continues. Seven store projects completed. Three new stores and one Extended opened. One store closed 4 Kid ASA - Q1 presentation Group revenues increased by 9.1% to MNOK 800.5 in Q1 In constant currency: Group revenue increase of 8.0% (+4.4%) Group like-for-like revenues increase of 6.1% (+2.9%) including Online sales Online growth of 24.8% (+6.6%), equivalent to an Online share of 14.1% (12.3%). Including click-and-collect, the Online share was 21.2% (19.0%) Kid Interior revenue growth of 8.9% (+3.3%) Like-for-like growth of 7.4% (+1.8%) including Online sales Online sales increased by 19.9% (+3.4%) Hemtex revenue growth of 9.4% (+8.7%). In constant currency: Revenue growth of 6.6% (+6.1%) Like-for-like growth of 4.0% (+4.7%) including Online sales Online sales increased by 31.5% (+11.4%) 856 902 800 734 Kid Interior Hemtex 1,452 536 493 452 574 - - - 2025 2026 2025 2026 2025 2026 2025 2026 Q1 Q2 Q3 Q4 281 308 874 328 320 579 - 2 1 0 .7 25 % 6.1 % 4.6 % 2.9 % 2025 2026 2025 2026 2026 2025 2026 Q1 Q2 Q3 Q4 0.8 % 5 Kid ASA - Q1 presentation Solid gross margin for first quarter Group gross margin increased by 0.6pp to 61.2% in the first quarter Kid Interior gross margin increased by 0.1pp to 60.7% (60.6%) Q1 Q2 Q3 Q4 YTD 61.2 % 61.2 % 61.8 % 62.3 % 61.2 % Hemtex gross margin increased by 1.5pp to 61.9% (60.4%) 60.6 % 60.6 % The increase in Group gross margin reflects Lower share of freight costs in the cost of goods sold ("COGS") Reduced clearance sale of seasonal assortments Margin development in Kid Interior slightly more affected by product mix 2025 2026 6 Kid ASA - Q1 presentation OPEX-TO-SALES (excl. IFRS 16) of 60.0% (59.7%) Employee benefit expenses increased by MNOK 8.0 in constant currency Salary increases and higher working hours in larger and new stores Limited impact from system modernisation projects Lower logistics staffing due to use of external workforce during warehouse ramp-up and lower bonus accrual compared with last year Other operating expenses increased by MNOK 16.8 in constant currency Higher activity level and larger store portfolio Increased logistics costs from use of external workforce during warehouse ramp-up Higher last-mile distribution costs driven by strong online sales growth Currency effects increase OPEX base by MNOK 3.7 Increase due to SEK/NOK translation difference compared to last year 451 358 346 330 353 233 138 157 147 170 192 201 199 183 218 2025 2026 2025 2026 2025 2026 2025 2026 Q1 Q2 Q3 Q4 Personell Other Opex 330 8 17 4 358 OPEX Q1-25 Employee Expenses Other Expenses Currency effects OPEX Q1-26 7 Kid ASA - Q1 presentation 2025 2026 2025 2026 2025 2026 2025 2026 Q1 Q2 Q3 Q4 91 82 34 133 42 146 56 59 266 174 440 115 133 189 205 Kid Interior Hemtex 8 Kid ASA - Q1 presentation Cash flow development in first quarter Cash flow from operations Impacted by inventory build-up of seasonal assortments 0 5 - 42 Affected by payment of public duties and trade payables 291 - 109 Cash flow from investments Investments related to new stores, store projects and IT initiatives Operations Investments Lease payments - 105 - 31 Net interest Change in debt Dividend Change in cash Cash flow from financing Use of revolving credit and overdraft facilities Lease payments and net interest payments 9 Kid ASA - Q1 presentation 1,310.0 1,013.8 296.2 Financial position remains satisfactory 610.0 610.0 250.0 300.0 153.8 100.0 50 - .0 100.0 146.2 300.0 Cash and available credit facilities of MNOK 296.2 (MNOK 590.0) at quarter-end Net interest-bearing debt excl. IFRS 16 of MNOK 1,013.8 (MNOK 649.9) Gearing ratio, excl. IFRS 16 effects, of 2.04x (1.07x) Facility Utilised Available Term loan Revolving credit facility Seasonal overdraft facility Overdraft facility Description Term loan Revolving credit facility Overdraft facility Seasonal overdraft facility Cash and deposits Maturity* 30.03.2028 30.03.2028 12 months 3 months n.a. *Two optional one-year extension periods. If both options are exercised, the latest possible maturity date will be 30 March 2030. 10 Kid ASA - Q1 presentation 286* 106* 11 162 7 Completed 2026 per quarter-end NO: Krøgenes, Arendal NO: Laksevåg, Bergen SE: Mölndal Centrum Signed, but not yet completed NO: Nationaltheateret, Oslo (Q3-26) New stores Closures SE: Tuna Park Eskilstuna NO: 1 store SE: 2 stores Relocations NO: SE: 1 store 1 store FI: 1 store Refurbishment/ expansion NO: SE: 4 stores 1 store NO: 3 stores SE: 4 stores Extended SE: Kållered, Göteborg NO: Buskerud Storsenter (Q2-26) Kid Group Segment: Kid Interior Segment: Hemtex 11 Kid ASA - Q1 presentation *Fully-owned stores. Hemtex has additional 11 franchise stores Store size expansion remain profitable Our categories and products need at least 600 sqm. to be displayed in a physical store, which is the foundation for our standard store size Kid Group is actively working to develop the store portfolio towards the standard store size (~600 sqm.) by expanding and / or relocating existing stores in all markets Conclusion from previous year's presentations have been verified, and the increased store portfolio drives profitable growth. Historically, we see the full potential of the performance in year 3 of operation 14 Extended (~1,200 sqm.) stores included in the overview SQM # stores 100-200 200-300 300-400 400-500 500-600 600-700 700-1,000 >1,000 2 10 56 93 46 29 23 17 Revenue per store Store contribution per store 1.5 16.7 13.7 12.4 10.0 8.5 6.4 4.4 1.4 1.9 2.7 3.2 3.7 4.8 7.1 24.5 12 Kid ASA - Q1 presentation *SEK/NOK 1.00 | Stores open per 01.01-31.12.2025 | Store contribution = EBITDA excl. IFRS 16, allocation of central marketing and HQ costs | SQM is rented space including shop floor, stock storage, office etc. 2021 #Stores Avg. SQM Revenue/Store (MNOK) Revenue/SQM (NOK) Hemtex 117 367 8.2 23,300 Kid Interior 147 458 11.6 25,700 Potential in expansion and continued portfolio optimisation 2025 #Stores Avg. SQM Revenue/Store (MNOK) Revenue/SQM (NOK) Hemtex 118 (+1) 463 (+96) 9.5 (+1.3) 21,400 (-1,900) Kid Interior 143 (-4) 518 (+60) 12.2 (+0.6) 23,600 (-2,100) Compared to 2021, Kid Interior and Hemtex have increased the average store size in the portfolio by 13.1% and 26.2%, respectively 14 Extended stores have been excluded from the tables and figure Kid Group is continuing to develop the store portfolio towards the standard store size (~600 sqm.) Potential for growth in both Kid Interior and Hemtex by increasing the number of square meters Store portfolio figures for 2021 was reported in the Q1-22 presentation, which is included in the upper table for comparability purposes The number in parentheses represents the change from 2021 to 2025 70 60 Number of stores 50 40 30 20 10 0 100-200 200-300 300-400 400-500 500-600 600-700 700-1,000 >1,000 SQM Hemtex Kid Interior 13 Kid ASA - Q1 presentation *SEK/NOK 1.00 | Stores open per 01.01-31.12.2025 | SQM is rented space including shop floor, stock storage, office etc. | Extended stores (+1,200 sqm.) have been excluded. Hemtex.de launched in Germany May 5 th Digital pilot of launching the Hemtex brand to other EU markets during H1-26 New Nordic warehouse - enabling to serve customers across Europe Germany represents a large and attractive market, where Scandinavian design is highly valued Market characterised by intense competition Deliberate and phased approach - Entering with a digital-first strategy Long-term perspective. Low risk and cost associated with potentially exiting the market 14 Kid ASA - Q1 report Continued focus on efficiency in warehouse operations, with further improvements expected as volumes increase and system replacements progress Focus on securing a long-term solution for the Norwegian warehouse facility, building on progress achieved through subleasing arrangements System modernisation progressing as planned, strengthening the foundation for scalable growth and operational efficiency Disciplined development of the store portfolio, with continued progress towards the target store size and selective expansion 15 Kid ASA - Q1 presentation Best-in-class execution across categories and channels, supported by strong seasonal execution and improved in-store presentation Ongoing category development initiatives to drive customer traffic and support revenue growth across both brands Garden & outdoor furniture and Beach Shop are key focus categories this summer Strengthened leadership in Hemtex with a new Country Manager in place from May, supporting execution going forward Group revenues increased by 4.6% in April and 7.1% year-to-date per April in constant currency 16 Kid ASA - Q1 presentation 17 Kid ASA - Q1 presentation KID Interior (Amounts in NOK millions) Q1 2026 Q1 2025 FY 2025 Revenue Revenue growth LFL growth including online sales COGS 492.7 8.9 % 7.4 % -193.7 452.4 3.3 % 1.8 % -178.0 2,435.5 4.2 % 3.1 % -945.2 Gross profit 299.0 274.3 1,490.3 Gross margin (%) 60.7 % 60.6 % 61.2 % Other operating revenue 0.6 0.1 0.9 Employee benefits expense -123.1 -118.3 -478.3 Other operating expense -153.9 -134.2 -631.5 Other operating expense - IFRS 16 effect 68.4 59.9 244.7 EBITDA 91.0 81.8 626.1 EBITDA margin (%) 18.4 % 18.1 % 25.7 % No. of shopping days No. of physical stores at period end 76 162 76 158 306 160 The principle for allocating logistics costs and balance sheet items between Kid Interior and Hemtex was changed in February 2025 following the implementation of the new common warehouse. Consequently, the figures are not fully comparable on segment level. 18 Kid ASA - Q1 presentation Hemtex (Amounts in NOK millions) Q1 2026 Q1 2025 FY 2025 Revenue Revenue growth ¹ LFL growth including online sales ¹ COGS 307.8 6.6 % 4.0 % -117.2 281.3 6.1 % 4.7 % -111.3 1,509.1 0.0 % -1.3% -575.0 Gross profit 190.6 170.0 934.0 Gross margin (%) 61.9 % 60.4 % 61.9 % Other operating revenue 0.7 0.8 4.3 Employee benefits expense -78.3 -73.2 -313.4 Other operating expense -125.2 -112.3 -511.0 Other operating expense - IFRS 16 effect 53.8 48.3 209.1 EBITDA 41.7 33.6 323.0 EBITDA margin (%) 13.5 % 11.9 % 21.3 % No. of shopping days No. of physical stores at period end (excl. franchise) 89 124 89 120 362 123 ¹ Calculated in lo cal currency The principle for allocating logistics costs and balance sheet items between Kid Interior and Hemtex was changed in February 2025 following the implementation of the new common warehouse. Consequently, the figures are not fully comparable on segment level. 19 Kid ASA - Q1 presentation (Amounts in NOK thousand) Q1 2026 Q1 2025 FY 2025 Revenue COGS 800.5 -310.9 733.7 -289.4 3,944.6 -1,520.3 Gross profit 489.6 444.3 2,424.3 Gross margin (%) 61.2 % 60.6 % 61.5 % Other operating revenue 1.4 0.9 5.2 OPEX -358.2 -329.8 -1,480.4 EBITDA 132.7 115.3 949.1 EBITDA margin (%) 16.5 % 15.7 % 24.0 % Depreciation and amortisation -143.6 -131.7 -555.3 EBIT -10.9 -16.3 393.8 EBIT margin (%) -1.4 % -2.2 % 10.0 % Net finance -36.0 -22.0 -109.5 Share of result from joint ventures -0.2 0.4 3.5 Profit before tax -47.2 -38.3 287.9 Net profit -38.9 -30.1 229.2 20 Kid ASA - Q1 presentation