KID ASA – SECOND QUARTER 2017 RESULTS
Lier, 16 August 2017: The board of directors of Kid ASA has approved the financial report for the second quarter of 2017.
Q2 HIGHLIGHTS (Figures from corresponding period the previous year in brackets)
- Revenues of MNOK 278.4 (MNOK 265.5) in Q2 2017, an increase of 4.9%. Revenues were negatively affected by the timing of the Easter holiday in Q2 this year, whereas Easter was in Q1 last year. For the first two quarters of 2017, revenues amounted to MNOK 532.3 (MNOK 496.0), up 7.3% from 2016. The number of ordinary shopping days in the second quarter was 71 (75), and for the two first quarters the number of ordinary shopping days was 148 (149).
- Like-for-like (LFL) sales increased by 2.8% (8.9%) in the quarter and 5.1% (2.6%) for first two quarters.
- Gross margin of 61.6% (61.5%) in Q2 and 60.8% (60.0%) for the first two quarters.
- EBITDA of MNOK 21.6 (MNOK 24.5) in Q2. For the first two quarters, EBITDA was MNOK 28.8 (MNOK 24.6). There were no EBITDA adjustments in the period from Q1 2016 to Q2 2017.
- EPS decreased to NOK 0.19 (NOK 0.27) in Q2 2017, and increased to NOK 2.97 (NOK 2.20) for the past twelve months
- The sale of home textiles in Q2 2017 in specialised stores in Norway increased by 7.7%, according to Statistics Norway. For the first two quarters of 2017, the corresponding figure was 7.0%.
- New stores opened in Fornebu S (Oslo), Romerikssenteret (Kløfta) and Storo Storsenter (Oslo) during Q2. The stores at Sandvika Storsenter (Sandvika) and Glasshuset (Bodø) were relocated. The total number of physical stores at the end of the quarter was 137 (132).
Kjersti Hobøl, CEO Kid, +47 918 35 965
Petter Schouw-Hansen, CFO Kid, +47 482 24 534