TCM Group A/S
Interim Report January-March 2021
May 19, 2021
Business update Q1 2021
- Organic growth of 13%.
- Growth driven by all four brands with the highest growth rates within our DIY segment (Nettoline and kitchn.dk) and a higher share of revenue from third party products.
- The market is characterized by pressure on raw material prices and availability combined with general market uncertainties.
- Number of branded stores was 91 (88). New Svane Køkkenet store will open in Q4 2021 in Arendal, Norway.
- Continued product innovation with the launch of new colours in the Svane Køkkenet S19 range and a new design in Tvis Køkkener, combining the Momento design from 2020 and the classic M-line design.
2
Capital structure
- At the annual general meeting on April 13, 2021 the following was approved:
- Ordinary dividend of DKK 5.50 per share (totaling DKK 55m) corresponding to 54% of Net profit.
- Extraordinary dividend of DKK 7.50 per share (totaling DKK 75m).
- Initiation of a share buy back program of up to DKK 150 million.
3
Revenue growth in Q1 of 10.6%
Revenue
281 mDKK
(254 mDKK)
Cash conversion | 10.6% |
83.4% | revenue growth |
(87.3%) |
NWC ratio | Adjusted EBIT |
-6.6% | 33 DKK |
(-6.1%) | (30 mDKK) |
Adjusted
EBIT margin
11.7%
(11.7%)
4
Q1 revenue growth driven by the Danish business
2021 | 2020 | |
Jan-Mar | Jan-Mar | |
Net revenue (mDKK) | 281 | 254 |
- Revenue growth | 10.6% | |
Q1 comments:
- Revenue growth in Denmark was +11.5%.
- Growth in Denmark driven by all four brands.
- Highest growth rate was achieved within our DIY segment and within revenue from third party products.
- Revenue outside Denmark increased by 2.4%, driven by growth in sales to the Norwegian market.
11.5% growth in DK revenue
2.4% increase
in revenue outside DK
5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original document
- Permalink
Disclaimer
TCM Group A/S published this content on 19 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 May 2021 07:19:04 UTC.