Business
Kid : results for the 1st quarter 2026
Kid : results for the 1st quarter
About this update from Kid Asa
Kid ASA - Quarterly report | 1 Kid ASA - Quarterly report | 2 GROUP REVENUES increased by 9.1% (+5.3%) to MNOK 800.5, positively impacted by seasonal assortments and strong Online development. GROSS MARGIN increased to 61.2% (60.6%), positively impacted by freight, reduced clearance sale and product mix. - 2 1 0 .7 25 % 6.1 % 4.6 % 2.9 % 2025 2026 2025 2026 2026 2025 2026 Q1 Q2 Q3 Q4 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). Solid Group revenue growth Kid Group reported revenues of MNOK 800.5 in Q1 2026, corresponding to 9.1% year-over-year growth. Revenue growth was driven by strong digital sales across both Kid Interior and Hemtex, as well as solid performance in physical stores in Norway, supported by Easter-related assortments. Underlying commercial initiatives contributed positively during the quarter. Bedlinen, bathroom and outdoor furniture performed well, supported by strong seasonal assortments from Easter, Spring and Summer. The development was further supported by the timing of Easter and more inspiring stores with a higher share of newness compared to last year. Warehouse operations with normalised capacity Warehouse operations performed as planned during Q1. Handling capacity and throughput increased, supporting higher production volumes and normal allocation of goods to stores. No material product shortages affected revenues. Operations at the central warehouse are stabilised, with improved operational reliability and predictable Operational efficiency has improved compared with previous periods. Further efficiency gains are expected over time as system replacements progress and volumes increase. No material inefficiency costs were recognised in the quarter. Progress on the Norwegian warehouse exit Sublease agreements now cover approximately 65% of the warehouse capacity, including a new agreement for an additional ~50% signed during the quarter. As a result, around two-thirds of the warehouse cost base for 2026 is secured through subleasing arrangements, with the new tenant taking occupancy in Q2 2026. The impairment recognised in Q2 2025, on the right-of-use asset, is considered robust based on the current level of secured subleasing and ongoing dialogue regarding a long-term solution, including further subleasing or full lease termination. Management remains confident in securing a long-term solution for the Lier facility. Modernising systems to support future growth The Group continues to modernise its system landscape. Project activity remains high, particularly within core retail- and operational systems, with The rollout of the new point-of-sale ("POS") solution is well advanced across the Group, with positive progress achieved during the quarter. A new workforce management system has been implemented in Norway, together with additional supporting systems. Remaining initiatives will be completed progressively. Entering 2027, the Group will have a modern and scalable system platform supporting future growth and operational efficiency. Store portfolio development towards target size The Group continues to develop its store portfolio towards the standard store size of approximately 600 sqm. Average store size was 518 sqm. for Kid Interior and 463 sqm. for Hemtex as of 2025. Figures exclude Extended stores. During the quarter, seven store projects were completed. Three new stores and one Extended store were opened, while one store was closed. At quarter-end, signed contracts support further selective expansion, with planned openings in the periods ahead. 115 82 91 133 146 2025 2026 2025 2026 2025 2026 2025 2026 34 133 42 189 205 56 59 0.8 % 440 174 266 daily operations. Ongoing improvements relate primarily to process optimisation and the phased replacement of IT systems. some impact on operating expenses during the period. Q1 Q2 Q3 Q4 Kid Interior Hemtex (Amounts in NOK million) Q1 2026 Q1 2025 FY 2025 Revenue Like-for-like growth including online sales ¹ COGS 800.5 6.1 % -310.9 733.7 2.9 % -289.4 3,944.6 1.4 % -1,520.3 Gross profit 489.6 444.3 2,424.3 Gross margin (%) 61.2% 60.6% 61.5% Other operating income 1.4 0.9 5.2 Employee benefits expense -201.4 -191.5 -791.8 Other operating expense -279.1 -246.5 -1,142.5 Other operating expense - IFRS 16 effect 122.2 108.2 453.8 OPEX -358.2 -329.8 -1,480.4 EBITDA 132.7 115.3 949.1 EBITDA margin (%) 16.5% 15.7% 24.0% Depreciation -37.4 -35.9 -134.3 Impairment 0.0 0.0 -25.0 Depreciation - IFRS 16 effect -106.2 -95.8 -396.0 EBIT -10.9 -16.3 393.8 EBIT margin (%) -1.4% -2.2% 10.0% Net financial income (expense) -18.3 -6.8 -43.6 Net financial expense - IFRS 16 effect -17.7 -15.2 -65.9 Share of result from joint ventures -0.2 0.4 3.5 Profit before tax -47.2 -37.9 287.9 Net income -38.9 -30.1 229.2 Earnings per share -0.96 -0.74 5.64 Liabilities to financial institutions -1,013.8 -649.9 -722.4 Lease liabilities - IFRS 16 effect -1,425.3 -1,265.1 -1,383.0 Cash 0.0 0.0 0.0 Net interest bearing debt -2,439.1 -1,915.1 -2,105.3 ¹Calculated in constant currency Kid ASA - Quarterly report | 3 Kid ASA - Quarterly report | 4 Kid Group reports 9.1% revenue growth in the first quarter, driven by positive development across both Kid Interior and Hemtex. Growth was supported by strong category performance, particularly within seasonal assortments related to Easter, Spring and Summer. Gross margin increased to 61.2%, primarily driven by a lower share of freight costs in cost of goods sold ("COGS"). Operating expenses ("OPEX") increased by 8.6%, reflecting new stores, project activity, earlier intake and distribution of spring and summer assortments, currency effects, general salary increases and larger stores. Group Online revenues increased by 24.8% (+6.6%) in the quarter, calculated with constant currency. The Online revenues reached MNOK 113.1 (MNOK 90.7), representing 14.1% (12.3%) of total Group revenues. Kid Interior experienced Online growth of 19.9% (+3.4%) while Hemtex experienced a growth of 31.5% (+11.4%). Including click-and-collect, the online share was 21.2% (19.0%). Category development Category development is an important driver of customer traffic to stores and long-term categories, including pets, also supported revenues. Gross margin Gross margin increased by 0.6 ppts compared with the previous year, primarily driven by a strong improvement in Hemtex, with a somewhat improved margin in Kid Interior. The margin benefited in general from a lower share of freight costs in the cost of goods sold ("COGS"), partly offset by campaign activity and mix effects. Operating expenses 734 281 800 856 308 320 902 328 1,452 579 874 Group revenues Total Group revenues increased by 9.1% (+5.3%), supported by solid performance across both Kid Interior and Hemtex. Revenue development was positively affected by the timing of Easter, particularly in the Norwegian market, and by an increased number of transacting customers. This was partly offset by a somewhat lower average basket size. Temporary logistical challenges from 2025 did not have any material impact on revenues in the quarter, despite some stores not being fully stocked until mid-Q1 2026. In constant currency, revenues increased by 8.0% (+4.4%). Net new store openings contributed positively to overall performance. Like-for-like revenue increased 6.1% (+2.9%) in the quarter, calculated on a constant currency basis. sales growth. During the quarter, the Group delivered solid growth across major and focus categories, alongside continued positive development in new categories. For the past two years, the Group has reported revenues from new categories introduced since 2022, reflecting the Group's ability to generate incremental growth over time. This definition is carried forward, and from 2026 expanded to also include furniture categories, as outdoor and garden furniture have not previously been included. The revised definition provides a more representative view of the Group's new category growth initiatives. Revenues from new categories introduced since 2022, including furniture, amounted to MNOK 50.6 (MNOK 48.1), with the development positively impacted by strong performance in outdoor and garden furniture compared with the previous year. Smaller contributions from recently launched Operating expenses increased compared with 452 493 536 574 2025 2026 2025 2026 2025 2026 2025 2026 the first quarter last year, which included a positive cost effect from bonus accruals. Costs in this quarter were also impacted by new stores and ongoing project activity, including system modernisation initiatives across the Group. 60.6 % In addition, operating expenses were influenced by higher logistics and handling activity related to earlier intake and distribution of spring and summer assortments, as well as continued strong Online growth, which structurally drives costs such as freight. Going forward, efficiency improvements in warehouse operations remain a key focus area. As operations are stabilised and optimisation initiatives progress, the Group expects a different cost development compared with the last twelve months. Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 YTD 61.2 % 60.6 % 61.2 % 61.8 % 62.3 % 61.2 % Kid Interior Hemtex 2025 2026 Kid ASA - Quarterly report | 5 Employee benefit expenses increased by MNOK 9.9 to MNOK 201.4: MNOK 5.8 in LFL stores, mainly due to general salary increases and increased working hours in larger stores, with limited impact from system modernisation project activity in Kid Interior. MNOK 4.0 increase from net new stores. MNOK 2.5 in HQ costs, due to general salary increase and more employees. MNOK -6.3 in Logistics, mainly relates to the transition from the Norwegian warehouse, which was closed in 2025, to MNOK 3.5 increase in net new stores. MNOK -1.3 from decreased marketing costs. MNOK -0.8 in HQ costs mainly related to lower legal fees and operating supplies in Kid. MNOK 14.4 in Logistics, reflecting higher activity levels, including increased use of external workforce during warehouse ramp-up and higher volumes from earlier seasonal intake. MNOK -12.7 relates to change in IFRS 16 effects, reflecting the increase in rental interest-bearing debt compared with the previous year, following the transition year in 2025. Earnings per share (EPS) decreased by NOK 0.22 compared with last year, reflecting higher financial expenses and lease effects under IFRS 16. Liquidity and borrowings Excluding IFRS 16 effects, net interest-bearing debt was MNOK 1,013.8 (MNOK 649.9) at the end of the quarter, corresponding to a gearing 330 138 358 346 157 147 353 170 451 233 the new Swedish warehouse. The ramp-up phase required higher use of external workforce and increased other operating expenses. As operations stabilise, the Group is increasing the share of permanent in-house employees, resulting in a gradual shift in cost classification to employee benefit expenses. MNOK 2.0 relates to bonus, reflecting a lower reversal of bonus accruals compared with the first quarter last year. MNOK 1.9 due to changes in SEK/NOK exchange rate. Other operating expenses increased by MNOK 18.6 to MNOK 156.9: MNOK 13.7 in LFL stores, mainly related to index adjustment of rental costs, store project activity and operating costs. In addition, strong development in Online revenues, contributing to higher last mile distribution costs. cost in Logistics, HQ and stores due to index regulations, re-negotiated contracts and net new stores. MNOK 1.8 due to changes in SEK/NOK exchange rate. EBITDA increased by MNOK 17.3 to MNOK 132.7. Depreciation increased compared to last year mainly due to investments in the warehouse in Sweden, IFRS 16 effect related to the rental portfolio and expansions through store projects. Net financial expenses of MNOK 36.0 (MNOK 22.0) relates to net interest expenses of MNOK 15.0 (MNOK 4.4), net other financial expenses of MNOK 2.1 (MNOK 1.3), net FX loss of MNOK 1.2 (MNOK 1.1) and IFRS 16 interest expenses of MNOK 17.7 (MNOK 15.2). Net financial expenses increased due to higher net ratio of 2.04x (1.07x) of LTM EBITDA. The 192 201 199 183 218 2025 2026 2025 20 - 26 2025 20 - 26 2025 20 - 26 Group had cash and available credit facilities of MNOK 296.2 (MNOK 590.0) as of 31 March 2026. Cash flow from operations was affected by inventory build-up in the quarter of seasonal assortments, payment of public duties payables and change in trade payable. This quarter's investments are mainly related to new stores, store projects and IT initiatives. Cash flow from financing includes use of revolving credit facility and overdraft facility, lease payments and net interests. Capital expenditures (CAPEX) amounted to MNOK 36.4 (MNOK 41.7) during Q1, mainly relating to store openings and store projects. Investments related to the warehouse project in Sweden accounted for MNOK 0.8 (MNOK 19.0) in the quarter. Q1 Q2 Q3 Q4 Personell Other Opex 291 - 109 - 105 - 42 0 5 Operations Investments Lease payments Net interest Change in debt Dividend Change in cash - 31 KID Interior (Amounts in NOK millions) Q1 2026 Q1 2025 FY 2025 Revenue 492.7 452.4 2,435.5 Revenue growth 8.9 % 3.3 % 4.2 % LFL growth including online sales 7.4 % 1.8 % 3.1 % COGS -193.7 -178.0 -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 Hemtex (Amounts in NOK millions) Q1 2026 Q1 2025 FY 2025 Revenue 307.8 281.3 1,509.1 Revenue growth ¹ 6.6 % 6.1 % 0.0 % LFL growth including online sales ¹ 4.0 % 4.7 % -1.3% COGS -117.2 -111.3 -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. Kid ASA - Quarterly report | 6 286* 106* 11 162 7 Kid Group Segment: Kid Interior Segment: Hemtex *Fully-owned stores. Hemtex has an additional 11 franchise stores 7.4 % 5.7 % 4.0 % 1.8 % 2025 2026 2025 2026 2025 2026 2025 2026 Q1 Q2 Q3 Q4 Kid ASA - Quarterly report | 7 Revenues increased 8.9% (+3.3%) compared with the first quarter last year. Growth was primarily driven by a higher number of transacting customers across both sales channels. Average basket size had a negative impact, mainly reflecting product mix effects related to the timing of Easter, which has a greater impact on sales in the Norwegian market compared with the Group's other markets. The number of shopping days in the quarter was 76 (76). Online revenues increased by +19.9% (+3.4%) to MNOK 63.3 (MNOK 52.8). Gross margin increased slightly by 0.1 ppts to 60.7%, compared to the previous year. The margin development was positively impacted by a lower share of freight costs in cost of goods sold ("COGS"), partly offset by mix effects and campaign activity. Employee benefit expenses increased by MNOK 4.8: MNOK 4.1 in LFL stores, mainly due to general salary increase as well as increased number of working hours in larger stores, with limited impact from project activity related to system modernisation. MNOK 2.0 due to net new stores. MNOK 1.3 relates to bonus, reflecting a lower reversal of bonus accruals compared with the first quarter last year. MNOK 4.3 in HQ costs, relates to number of employees and general salary increase as well as less allocated central costs to Hemtex than last year. MNOK -6.9 in Logistics, relates to the transition from the Norwegian warehouse, which was closed in 2025, to the new Swedish warehouse. The ramp-up phase required higher use of external workforce and increased other operating expenses. As operations stabilise, the Group is increasing the share of permanent in-house employees, resulting in a gradual shift in cost classification to employee benefit expenses. Other operating expenses increased by MNOK 11.2: MNOK 10.4 in LFL stores, mainly relates to index adjustment of rental costs and store expansion activity. Additionally, strong development in Online revenues is contributing to higher distribution costs. MNOK 0.9 in net new stores. MNOK -0.7 from decrease of marketing costs due to the campaign activity plan. MNOK -2.1 in HQ, mainly relates to higher allocated central costs to Hemtex than last year as well as less costs for legal fees and operating supplies. MNOK 11.0 in Logistics, reflecting higher activity levels, including increased use of external workforce during warehouse ramp-up and higher volumes from earlier seasonal intake. MNOK -8.5 relates to change in IFRS 16 effects, reflecting the increase in rental cost included in Logistics, HQ and stores due to index regulations, re-negotiated contracts and net new stores. MNOK 0.2 due to changes in SEK/NOK exchange rate effect. Store projects continue to support profitable growth across Kid Group through refurbishments, enlargements and relocations. During the quarter, Kid Interior completed five store projects and opened two new stores. At quarter-end, contracts had been signed for one new store and one Extended store in Norway. In addition, contracts were signed for three further store projects, while one store is planned to be closed. 266.0 145.5 132.8 91.0 81.8 2025 2026 2025 2026 2025 2026 2025 2026 Q1 Q2 Q3 Q4 0.5 % Kid ASA - Quarterly report | 8 Revenues increased 6.6% (+6.1%) compared to the first quarter last year, calculated on a constant currency basis. Growth was primarily driven by a higher number of transacting customers across both sales channels. Average basket size had a negative impact, mainly reflecting product mix effects related to the timing of Easter. The number of shopping days in the quarter was 89 (89). Online revenues increased by 31.5% (+11.4%) to MNOK 49.9 (MNOK 37.9), based on a constant currency calculation. Measured on a constant currency basis, Hemtex 24h revenues increased to MNOK 3.7 (MNOK 1.0). Gross margin increased slightly by 1.5 percentage points to 61.9% compared with the previous year. The margin development was positively impacted by a lower share of freight costs in cost of goods sold (COGS), combined with positive mix effects and a lower need for clearance sales of seasonal products. Employee benefit expenses increased by MNOK 5.1: MNOK 1.7 in LFL stores, mainly due to general salary increase. MNOK 2.1 due to net new stores. MNOK 0.7 relates to bonus, reflecting a lower reversal of bonus accruals compared with the first quarter last year. MNOK -1.9 in HQ, mainly due to less allocated central costs from Kid Interior to Hemtex, partly offset by increased number of employees. MNOK 0.6 in Logistics, relates to higher logistics activity, combined with an increase in the number of own employees compared with the previous year. MNOK 1.9 due to changes in SEK/NOK exchange rate . Other operating expenses increased by MNOK 7.4: MNOK 3.2 in LFL stores, mainly relates to index adjustment of rental costs and store expansions, as well as higher operating costs. MNOK 2.6 in net new stores. MNOK -0.6 from decrease of marketing cost due to the campaign activity plan. MNOK 1.3 in HQ, mainly due to allocated central costs from Kid Interior to Hemtex. MNOK 3.4 in Logistics, mainly relates to reflecting higher activity levels, including increased use of external workforce during warehouse ramp-up and higher volumes from earlier seasonal intake. MNOK -4.2 relates to change in IFRS 16 effects, reflecting the increase in rental cost in Logistics, HQ and stores due to index regulations, re-negotiated contracts and net new stores. 4.7 % 2025 2026 2025 2026 2025 2026 2025 2026 Q1 Q2 Q3 Q4 -3.8 % -5.3 % 4.0 % 2.7 % MNOK 1.7 due to changes in SEK/NOK exchange rate. Store projects continue to contribute to profitable growth across Kid Group through refurbishments, enlargements and relocations. During the quarter, Hemtex completed two store projects, opened one Extended store, closed one store, and opened one new store. At quarter-end, Hemtex had not signed any new or Extended stores. Contracts were signed for six store projects, while two stores are planned to be closed. 174.0 59.2 56.3 41.7 33.6 2025 2026 2025 2026 2025 2026 2025 2026 Q1 Q2 Q3 Q4 Revenue development in April Group revenues in constant currency were up by 4.6% (+7.6%) in April and up by 7.1% (+5.2%) year-to-date per April. The number of shopping days in Kid Interior was 23 in April this year, same as last year. The number was 30 days in both years in Hemtex. There have been no significant events after the end of the reporting period. Lier, 12 May 2026 The Board of Kid ASA Espen Gundersen Chair Gyrid Skalleberg Ingerø Board member Jon Brannsten Board member Karin Bing Orgland Board member Liv Berstad Board member Marianne Fulford Chief Executive Officer Kid ASA - Quarterly report | 9 Kid ASA - Quarterly report | 10 (Amounts in NOK thousand) Note Q1 2026 Unaudited Q1 2025 Unaudited FY 2025 Audited Revenue Other operating revenue 800,457 1,355 733,691 860 3,944,569 5,227 Total revenue 801,812 734,552 3,949,796 Purchased goods and change in inventory -310,899 -289,383 -1,520,285 Employee benefits expense -201,371 -191,529 -791,786 Depreciation, amortisation and impairment expenses 9 -143,621 -131,663 -555,254 Other operating expenses -156,860 -138,291 -688,631 Total operating expenses -812,751 -750,867 -3,555,957 Operating profit -10,940 -16,315 393,840 Financial income 1,281 2,623 10,347 Financial expense -37,325 -24,598 -119,872 Net financial income (+) / expense (-) -36,044 -21,974 -109,525 Share of result from joint ventures 10 -231 383 3,544 Profit before tax -47,214 -37,907 287,859 Income tax expense 8,317 7,782 -58,611 Net profit (loss) for the period -38,897 -30,124 229,248 Interim condensed consolidated statement of comprehensive income Profit for the period -38,897 -30,124 229,248 Other comprehensive income -22,799 -68,698 -90,600 Tax on comprehensive income -137 17,034 27,103 Total comprehensive income for the period -61,833 -81,788 165,751 Attributable to equity holders of the parent -61,833 -81,788 165,751 Basic and diluted Earnings per share (EPS): -0.96 -0.74 5.64 Kid ASA - Quarterly report | 11 (Amounts in NOK thousand) Note Assets 31.03.2026 Unaudited 31.03.2025 Unaudited 31.12.2025 Audited Goodwill 9 70,972 72,870 75,807 Trademark 9 1,514,472 1,515,940 1,518,211 Other intangible assets 9 84,650 57,128 81,837 Deferred tax asset 7,638 0 0 Total intangible assets 1,677,732 1,645,938 1,675,855 Right of use asset 9 1,358,203 1,212,168 1,311,380 Fixtures and fittings, tools, office machinery and equipment 9 476,535 387,445 487,194 Total tangible assets 1,834,738 1,599,612 1,798,574 Investments in associated companies and joint ventures 10 4,145 1,214 4,375 Investment in shares 5 0 5 Loans to associated companies and joint ventures 500 0 500 Total financial fixed assets 4,650 1,214 4,880 Total fixed assets 3,517,119 3,246,764 3,479,310 Inventories 972,059 865,751 934,484 Trade receivables 35,845 43,704 27,415 Other receivables 91,168 64,260 113,864 Derivatives 53,719 34,239 28,569 Totalt receivables 180,733 142,203 169,847 Cash and bank deposits 0 0 0 Total currents assets 1,152,792 1,007,954 1,104,332 Total assets 4,669,911 4,254,718 4,583,642 (Amounts in NOK thousand) Note Equity and liabilities 31.03.2026 Unaudited 31.03.2025 Unaudited 31.12.2025 Audited Share capital 48,770 48,770 48,770 Share premium 321,050 321,050 321,050 Other paid-in-equity 64,617 64,617 64,617 Total paid-in-equity 434,437 434,437 434,437 Other equity 964,886 1,011,711 1,017,396 Total equity 1,399,323 1,446,148 1,451,833 Deferred tax 315,809 296,618 304,926 Total provisions 315,809 296,618 304,926 Lease liabilities 1,017,410 887,882 979,978 Liabilities to financial institutions 6 829,997 461,669 579,984 Total long-term liabilities 1,847,406 1,349,552 1,559,963 Lease liabilities 407,859 377,237 402,989 Liabilities to financial institutions 6 183,795 188,276 142,388 Trade payable 164,450 166,183 193,188 Tax payable - 7,602 52,707 Public duties payable 134,736 124,476 237,722 Other short-term liabilities 194,132 259,076 231,966 Derivatives 22,401 39,551 5,961 Total short-term liabilities 1,107,372 1,162,400 1,266,920 Total liabilities 3,270,588 2,808,570 3,131,809 Total equity and liabilities 4,669,911 4,254,718 4,583,642 Kid ASA - Quarterly report | 12 (Amounts in NOK thousand) Total paid-in equity Other equity Total equity Balance at 1 Jan 2025 434,437 1,103,886 1,538,323 Profit for the period YTD 2025 0 -30,124 -30,124 Other comprehensive income 0 -51,664 -51,664 Realized cash flow hedges 0 -10,386 -10,386 Dividend 0 0 0 Balance at 31 Mar 2025 434,437 1,011,711 1,446,148 Balance at 1 Jan 2026 434,437 1,017,396 1,451,833 Profit for the period YTD 2026 0 -38,897 -38,897 Other comprehensive income 0 -22,936 -22,936 Realized cash flow hedges 0 9,323 9,323 Dividend 0 0 0 Balance at 31 Mar 2026 434,437 964,886 1,399,323 (Amounts in NOK thous and) Cash flow Note Q1 2026 Unaudited Q1 2025 Unaudited FY 2025 Audi ted Cash Flow from operation Profit before income ta xes -47,214 -37,907 287,859 Taxes paid in the period -39,245 -46,503 -121,860 Depreciation & Impairment 9 143,621 131,663 555,254 Effect of exchange fluctua tions 5,565 0 -14,961 Change in net working capital Change in inventory -61,162 -84,315 -140,137 Change in trade debtors -9,443 -11,615 5,483 Change in trade credi tors -26,306 -72,304 -43,291 Change in other provisions ¹ -74,762 -134,979 30,214 Net cash flow from operations -108,947 -255,959 558,561 Cash flow from investment Purchase of fixed assets 9 -41,975 -38,334 -254,043 Loans to associated companies and joint ventures 8, 10 0 0 33,000 Proceeds from associated companies and joint ventures 10 0 33,500 0 Net Cash flow from investments -41,975 -4,834 -221,043 Cash flow from financing Proceeds from long term loans 0 0 148,000 Proceeds from revolving credit facility 250,000 0 300,000 Repayment of revolving credit facility 0 0 -300,000 Repayment of Term Loans 0 0 -30,000 Overdraft facility 41,407 158,276 112,388 Lease payments for principal portion of lease l iability -104,536 -93,047 -387,889 Dividend payment 0 0 -304,839 Net interest -31,147 -23,608 -111,779 Net cash flow from financing 155,724 41,622 -574,118 Cash and cash equivalents at the beginning of the period 0 228,534 228,534 Net change in cash and cash equivalents 4,802 -219,171 -236,600 Exchange gains / (losses) on cash and cash equivalents -4,802 -9,363 8,067 Cash and cash equivalents at the end of the period 0 0 0 ¹ Change in other provisions includes other receivables, public duties payable, short-term liabilities and accrued interest. Kid ASA - Quarterly report | 13 Kid ASA and its subsidiaries` (together the "Company" or the "Group") operating activities are related to resale of home and interior products in Norway, Sweden, Finland and Estonia. The Kid Group offers a full range of products comprising textiles, curtains, bed linens, furniture, accessories and other interior products. We design, source, market and sell these products through our stores as well as through our online sales platforms. All amounts in the interim financial statements are presented in NOK 1,000 unless otherwise stated. Due to rounding, there may be differences in the summation columns. The Preparation of interim financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. Actual results may differ from these estimates. In preparing these interim financial statements the significant judgements made by management in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those applied to the consolidated financial statements for the year ended 31 December 2025. These interim financial statements for the first quarter of 2026 have been prepared in accordance with IAS 34, 'Interim financial reporting'. The interim financial statements should be read in conjunction with the consolidated financial statements for the year ended 31 December 2025, which have been prepared in accordance with IFRS® Accounting Standards as adopted by the EU ('IFRS'). Kid Group reports segments in accordance with how the chief operating decision maker makes, follows up and evaluates its decisions. Within the Group, Kid Interior relates to Norway and Hemtex relates to Sweden with a few stores in Estonia and Finland. The Group also sells home and interior products through the Group's online websites. Over 98% of the products are sold under own brands. Q1 2026 The accounting policies applied in the preparation of the consolidated interim financial statements are consistent with those applied in the preparation of the annual IFRS financial statements for the year ended 31 December 2025. New standards or amendments effective at 1 January 2026 do not have a material impact on the Group. (Amounts in NOK thousand) Kid Interior Hemtex Total 492,662 307,795 800,457 -193,703 -117,196 -310,899 298,959 190,600 489,558 606 748 1,355 -208,571 -149,661 -358,232 90,994 41,687 132,681 12,230 -23,169 -10,940 60.7 % 61.9 % 61.2 % 42.3 % 48.6 % 44.8 % 18.4 % 13.5 % 16.5 % 616,169 355,890 972,059 3,191,291 1,478,620 4,669,911 Revenue COGS Gross profit Other operating revenue Operating expense (OPEX) EBITDA Operating profit Gross margin (%) OPEX to sales margin (%) EBITDA margin (%) Inventory Total assets 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. Kid ASA - Quarterly report | 14 Financing agreements At the balance sheet date, the Group has the following facilities: (Amounts in NOK thousand) Utilised 31.03.2026 Facility Maturity Repayment Total term loan 610,000 610,000 30.03.2028³ Instalments¹ Of which secured with fixed interest rate: Denominated in NOK ² 395,000 395,000 Revolving credit facility 250,000 300,000 30.03.2028³ At maturity Seasonal overdraft facility - 100,000 3 months At maturity Overdraft 153,795 300,000 12 months At maturity 1,013,795 1,310,000 ¹MNOK 30 in annual instalments with bi-annual payments related to the utilised amount of MNOK 481.7 ²Fixed interest rate is secured through an interest rate swap of MNOK 395 maturing August 2029 and subject to hedge accounting ³The agreement with Nordea includes two optional one-year extension periods. If both options are exercised, the latest possible maturity date will be 30 March 2030. The Group's related parties include its associates, joint ventures, key management and members of the Board. None of the Board members have been granted loans or guarantees in the current quarter. Furthermore, none of the Board members are included in the Group's pension or bonus plans. Q1 2026 Q1 2025 FY 2025 Weighted number of ordinary shares Net profit or loss for the year 40,646,162 -38,897 40,645,162 -30,124 40,645,162 229,248 Earnings per share (basic and diluted) (Expressed in NOK per share) -0.96 -0.74 5.64 Kid ASA - Quarterly report | 15 During the quarter, additions to Right of Use (RoU) Assets were primarily driven by new and renegotiated rental agreements for stores as well as index adjustments. Additions to Property, Plant, and Equipment (PPE) were mainly associated with new store openings, refurbishments, and the establishment of the new common warehouse. Due to the commencement of the new common warehouse and the termination of the warehouse in Norway, a subleasing process for the warehouse in Lier was initiated early 2024 and remains ongoing. During Q1 2025, Kid Group reached a preliminary agreement with a prospective tenant and the landlord regarding the terms for transferring the lease. However, in Q2 this agreement fell through due to external factors. Management work actively on identifying a solution. As a result, the warehouse will be empty for a period and an impairment assessment was performed on the right-of-use ("RoU") asset, resulting in an impairment expense of MNOK 25.0 in Q2 2025. The Group had the following subsidiaries as of 31 March 2026: Name Place of business Nature of business Proportion of shares directly held by parent (%) Kid Interiør AS Norway Interior goods retailer 100 Kid Logistikk AS Norway Logistics 100 Kid Eiendom AS Norway Logistics 100 Hemtex AB Sweden Interior goods retailer 100 Hemtex OY Finland Interior goods retailer 100 Kid Sourcing AS Norway Wholesaler 100 Kid International Logistic AB Sweden Logistics 100 All subsidiary undertakings are included in the consolidation. (amounts in NOK thous and) Right of use Asset PPE Trademark Other Intangibles Goodwill Balance 01.01.2026 1,311,381 487,194 1,518,211 81,836 75,807 Exchange differences -45,438 -6,851 -3,739 11 -4,835 Addi tions, disposals and adjustments 198,481 27,661 8,734 Depreciation and amortisation -106,221 -31,470 -5,931 Balance 31.03.2026 1,358,203 476,533 1,514,472 84,650 70,972 The Group had the following joint ventures as of 31 March 2026: Name Nature of relationship Ownership share Prognosgatan Holding AS Joint venture 50 % 4,145 Equity method Norway Carrying amount Measurement method Place of business (amounts in NOK thous and) Right of use Asset PPE Trademark Other Intangibles Goodwill Balance 01.01.2025 1,198,483 383,495 1,514,724 54,934 71,298 Exchange differences 6,101 280 1,216 4 1,572 Addi tions, disposals and adjustments 103,363 31,596 10,149 Depreciation and amortisation -95,779 -27,925 -7,959 Balance 31.03.2025 1,212,168 387,446 1,515,940 57,128 72,870 The joint venture is reflected in the statement of profit and loss and the statement of financial position. The share of result from the joint venture for Q1-26 was MNOK -0.2 (MNOK 0.4). Per the reporting date, the carrying amount of the investment is MNOK 4.1 (MNOK 1.2) Kid ASA - Quarterly report | 16 Constant currency is the exchange rate that the Group uses to eliminate the effect of exchange rates fluctuations when calculating financial performance numbers. EBIT (earnings before interest and tax) is operating profit. The performance measure is considered useful to the users of the financial statements when evaluating operational profitability. EBIT margin is EBIT divided by total revenues. The performance measure is an important key figure for Kid Group and considered useful to the users of the financial statements when evaluating operational efficiency. EBITDA is earnings before tax, interests, amortisation of other intangibles and depreciation and write-down of property, plant and equipment and right-of-use assets. The performance measure is an important key figure for Kid Group and considered useful to the users of the financial statements when evaluating operational profitability on a more variable cost basis as it excludes amortisation and depreciation expense related to capital expenditure. EBITDA margin is EBITDA divided by total revenues. The performance measure is an important key figure for Kid Group and considered useful to the users of the financial statements when evaluating operational efficiency on a more variable cost basis as it excludes amortisation and depreciation expenses. Gearing ratio is defined as net interest-bearing debt divided by LTM EBITDA excluding IFRS 16 effects. Gross margin is defined as gross profit divided by revenues. The gross margin reflects the percentage margin of the sales revenues that the Group retain after incurring the direct costs associated with the purchase and distribution of the goods and is an important internal KPI. Gross profit is defined as revenues minus the cost of goods sold (COGS). The gross profit represents sales revenues that the Group retain after incurring the direct costs associated with the purchase and distribution of the goods. Like-for-like revenues are revenues from physical stores and online stores that were in operation from the start of last fiscal year all through the end of the current reporting period. Like-for-like (LFL) is calculated in constant currency. Net capital expenditure represent the cash flow from the investment spending in property, plant and equipment and other intangibles, less sale such asset. Net income is profit (loss) for the period. OPEX-to-sales ratio is the sum of employee benefits expense and other operating expenses divided by revenues. The OPEX to sales ratio measures operating cost efficiency as percentage of sales revenues and is an important internal KPI. Revenue growth represents the growth in revenues for the current reporting period compared to the same period the previous year. Revenue growth for Hemtex is calculated in constant currency. Revenue growth is an important key figure for the Group and users of financial statements as it illustrates the underlying organic revenue growth. EBIT (earnings before interest and tax) is operating profit. The performance measure is considered useful to the users of the financial statements when evaluating operational profitability. EBITDA is earnings before tax, interests, amortisation of other intangibles and depreciation and write-down of property, plant and equipment and right-of-use assets. The performance measure is an important key figure for Kid Group and considered useful to the users of the financial statements when evaluating operational profitability on a more variable cost basis as it excludes amortisation and depreciation expense related to capital expenditure. EBITDA margin is EBITDA divided by total revenues. The performance measure is an important key figure for Kid Group and considered useful to the users of the financial statements when evaluating operational efficiency on a more variable cost basis as is excludes amortisation and depreciation expense related to capital expenditure. Gross profit is defined as revenues minus the cost of goods sold (COGS). The gross profit represents sales revenues that the Group retain after incurring the direct costs associated with the purchase and distribution of the goods. Gross margin is defined as gross profit divided by revenues. The gross margin reflects the percentage margin of the sales revenues that the Group retain after incurring the direct costs associated with the purchase and distribution of the goods and is an important internal KPI. OPEX-to-sales ratio is the sum of employee benefits expense and other operating expenses divided by revenues. The OPEX to sales ratio measures operating cost efficiency as percentage of sales revenues and is an important internal KPI. Kid ASA - Quarterly report | 17 This report includes forward-looking statements which are based on our current expectations and projections about future events. All statements other than statements of historical facts included in this report, including statements regarding our future financial position, risks and uncertainties related to our business, strategy, capital expenditures, projected costs and our plans and objectives for future operations, including our plans for future costs savings and synergies may be deemed to be forward-looking statements. Words such as "believe," "expect," "anticipate,", "may," "assume," "plan," "intend," "will," "should," "estimate," "risk" and similar expressions or the negatives of these expressions are intended to identify forward-looking statements. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. You should not place undue reliance on these forward-looking statements. In addition, any forward-looking statements are made only as of the date of this notice, and we do not intend and do not assume any obligation to update any statements set forth in this notice. Kid ASA, Gilhusveien 1, 3426 Gullaug Customer service: +47 31 00 20 00 https://www.kid.no Kid ASA - Quarterly report | 18