Kid ASA - Q1 presentation
1Financial 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 Hemtex1,452
536
493
452
574
- - -2025 2026 2025 2026 2025 2026 2025 2026
Q1
Q2
Q3
Q4
281
308
874
328
320
579
-210.725%
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
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 Opex330
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 Hemtex8 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 facilityDescription | 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) | |
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
Revenue per store Store contribution per store100-200
200-300
300-400
400-500
500-600
600-700
700-1,000
>1,000
2
10
56
93
46
29
23
17
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 Interior13 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 5th
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