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

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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.