KID ASA – THIRD QUARTER 2017 RESULTS
Lier, 14 November 2017: The board of directors of Kid ASA has approved the financial report for the third quarter of 2017.
Q3 HIGHLIGHTS ( Figures from corresponding period the previous year in brackets)
- Revenues of MNOK 343.8 (MNOK 314.1) in Q3 2017, an increase of 9.5% (9.2%). For the first three quarters of 2017, revenues amounted to MNOK 876.1 (MNOK 810.1), up 8.2% (8.2%) from 2016. The number of ordinary shopping days in the third quarter was 79 (79), and for the three first quarters 227 (228).
- Like-for-like sales increased by 5.1% (6.7%) in the quarter and 5.1% (4.3%) for first three quarters.
- Gross margin was 60.8% (61.1%) in Q3 and 60.8% (60.5%) for the first three quarters.
- EBITDA of MNOK 60.5 (MNOK 58.1) in Q3. For the first three quarters, EBITDA was MNOK 89.3 (MNOK 82.7). There were no EBITDA adjustments in the period from Q1 2016 to Q3 2017.
- Adjusted EPS increased to NOK 2.99 (2.45) for the last twelve months.
- The Board of Directors have made a resolution to pay out NOK 1.00 per share in half-year dividend in November 2017 (33% of adjusted net income for last twelve months). The dividend is in line with the current dividend policy whereby 60-70% of annual adjusted net profit are distributed as dividends.
- The index for sale of home textiles in Q3 2017 in specialised stores in Norway increased by 9.5%, according to Statistics Norway. For the first three quarters of 2017, the corresponding figure was 7.9%.
- A new store opened in Pilestredet (Oslo) during Q3. The store at AMFI Eidsvoll (Eidsvoll) was relocated. The total number of physical stores at the end of the quarter was 138 (133).
Kjersti Hobøl, CEO Kid, +47 918 35 965
Petter Schouw-Hansen, CFO Kid, +47 482 24 534