Kid ASA - Third Quarter 2022 Results
Lier, 8 November 2022: The board of Directors of Kid ASA has approved the financial report for the third quarter of 2022.Key financial highlights · Group revenues increased by 0.5% to MNOK 734.7 in a challenging market. New products and categories remain a significant growth driver · Our new growth initiative 'Kid Extended' is ready to launch in Norway · Gross margin decreased by 5.9 percentage points to 55.5%. The high freight rates in 2022 have not sufficiently been incorporated in our price calculation models leading to an unexpected drop in gross margin during Q3 ·