TCM Group A/S

Interim Report July-September 2020

November 11, 2020

Business update Q3 2020

  • Growth driven by the Danish market primarily within branded stores including Nettoline and kitchn.dk as well as a higher revenue from 3rd party products
  • The Danish kitchen market has been resilient despite Covid-19
  • The Norwegian kitchen market influenced by Covid-19
  • Number of branded stores was 68 (67). Furthermore, 20 dealers have converted stores into the Nettoline store concept and therefore considered branded stores
  • Continued product innovation with the launch of S12 RAW Limited edition
  • Financial outlook reiterated

2

Revenue growth in Q3 of 4.2%

Revenue

247 mDKK

(238 mDKK)

Cash conversion

4.2%

94.2%

revenue growth

(101.7%)

NWC ratio

EBIT

-8.0%

32 mDKK

(-7.3%)

(34 mDKK)

EBIT margin

13.0%

(14.4%)

3

Q3 revenue growth driven by the Danish business

2020

2019

2020

2019

Jul-Sep

Jul-Sep

Jan-Sep

Jan-Sep

Net revenue (mDKK)

247

238

762

745

- Organic growth

4.2%

2.2%

Q3 comments:

  • Revenue growth in Denmark was +5.6%
  • Growth in Denmark driven by branded stores including Nettoline and kitchn.dk as well as revenue from 3rd party revenue
  • Revenue outside Denmark decreased by 13.6%

5.6% growth

in DK revenue

13.6% decrease

in revenue outside DK

4

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TCM Group A/S published this content on 11 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2020 08:16:04 UTC