KID ASA – FIRST QUARTER 2017 RESULTS
Lier, 12 May 2017: The board of directors of Kid ASA has approved the financial report for the first quarter of 2017.
Q1 HIGHLIGHTS ( Figures from corresponding period the previous year in brackets)
- Revenues of MNOK 253.9 (MNOK 230.6) in Q1 2017, an increase of 10.1%. Revenues in Q1 were positively impacted by the timing of the Easter holiday this year. For the period January through April 2017, sales increased by 7.7% (3.9%). The number of ordinary shopping days in the first quarter was 77 (74), and 99 (100) for the first four months of 2017.
- Kid continued to gain market share. The sale of home textiles in Q1 2017 in specialised stores in Norway increased by 6.4%, according to Statistics Norway.
- Like-for-like sales increased by +7.6% (-3.8%) in the quarter.
- Online sales increased by 27.7% (32.2%) in the quarter.
- Gross margin of 59.9% (58.3%) in Q1.
- EBITDA of MNOK 7.2 (MNOK 0.1) in Q1. There are no EBITDA adjustments in the period from Q1 2016 to Q1 2017.
- EPS increased to NOK -0.07 (NOK -0.18) in Q1 2017, and NOK 3.05 (NOK 1.88) for the past twelve months
- The store at Kvartal 48 (Hamar) closed at the beginning of the quarter, and a new store opened in Bøsenteret (Bø i Telemark) at the end of the quarter. The stores at Lillemarkens (Kristiansand), AMFI Voss (Voss) and Peer Gynt Senteret (Vinstra) were refurbished. The total number of physical stores at the end of the quarter was 134 (130).
Kjersti Hobøl, CEO Kid, +47 918 35 965
Petter Schouw-Hansen, CFO Kid, +47 482 24 534