KID ASA - SECOND QUARTER 2016 RESULTS
Lier, 16 August 2016: The board of directors of Kid ASA has approved the financial report for the second quarter of 2016.
Q2 HIGHLIGHTS (Figures from corresponding period the previous year in brackets)
- Revenues of MNOK 265.5 (MNOK 235.8), an increase of 12.6% in the quarter. Revenues were positively affected by the timing of the Easter holiday in Q2 last year, whereas Easter was in Q1 this year. The number of shopping days in the quarter was 75 (72).
- The sale of home textiles in Q2 2016 in specialised stores in Norway increased by 6.1%, according to Statistics Norway.
- Like-for-like (LFL) sales increased by +8.9% in the quarter and +2.6% YTD compared to the same period in 2015. Please note that the like-for-like definition has been changed since the Q1 report and now includes online sales.
- Gross margin after realised currency effects of 59.4% (60.3%) in Q2. Please see the financial review for further description of the gross margin development.
- Adjusted EBITDA of MNOK 18.8 (MNOK 12.1) in Q2.
- New stores were opened in Mortensrud (Oslo) and Trekanten (Asker). The stores in Moa (Ålesund) and Stovner (Oslo) were refurbished, and the store in Alna (Oslo) was relocated. The total number of stores at the end of the quarter was 132.
Kjersti Hobøl, CEO Kid, +47 918 35 965
Petter Schouw-Hansen, CFO Kid, +47 482 24 534