COMPANY ANNOUNCEMENT
No. 61/2020
Tvis,
Interim report Q1 2020 (
(All figures in brackets refer to the corresponding period in 2019)
Organic growth of 1.8% in Q1 2020, in line with expectations.
CEO
“ In Q1 2020, revenue grew organically by 1.8%, in line with expectations. Q1 2020 compares to an ex-ceptionally strong Q1 LY with 17% revenue growth. The growth was driven by the B2C market through branded stores and non-branded DIY stores in both
The outbreak of Covid-19 and the authorities’ measures to reduce the spread of the virus has had limited impact on the Q1 results. Our key priorities are to protect the health and safety of our employees, custom-ers and business partners, and we are following the recommendations and instructions from the govern-ment and have taken the necessary safety precautions. I am very proud of our employees and their exem-plary approach and the flexibility they have shown in this extraordinary situation.
In late March, we suspended the financial outlook for 2020 as a consequence of Covid-19 outbreak. As an order producing company our order pipeline provides comforting visibility for Q2 2020. Due to con-tinued uncertainties regarding the medium to long term impact, we are unable to accurately assess the magnitude of this impact. We will provide guidance once we have more visibility. Our setup is flexible, which allows us to adjust our production and cost base to the demand situation and thereby safeguarding long-term profitability.”
Financial highlights Q1:
- Revenue
DKK 254.2 million (DKK 249.7 million ) corresponding to a revenue growth of 1.8%. - EBITDA down
DKK 1.0 million toDKK 35.0 million (DKK 36.0 million ), corresponding to a decrease of 2.8%. EBITDA margin was 13.8% (14.4%). - EBIT down
DKK 1.3 million toDKK 29.7 million (DKK 31.0 million ), corresponding to an EBIT margin of 11.7% (12.4%). - Net profit down 3.3% to
DKK 22.6 million (DKK 23.4 million ). - Free cash flow was
DKK (22.4) million (DKK 2.3 million ). - Cash conversion ratio was 87.3% (94.3%).
Conference call
A conference call for investors and analysts will be held today at
Dial-in numbers for the conference call:
Confirmation Code: 2045238
Sverige: +46 (0)850692180
Contact
For further information, please contact:
CEO
CFO Mogens Elbrønd Pedersen +45 97435200
IR Contact - ir@tcmgroup.dk
About
This interim report contains statements relating to the future, including statements regarding the
Attachments
- 61. Q1 interim report 2020
- Q1 2020 interim report
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