Kid ASA - First Quarter 2021 Results
Lier, 12 May 2021: The board of Directors of Kid ASA has approved the financial report for the first quarter of 2021.
Best Q1 performance ever, driven by continued high revenue growth combined with increased gross margin and stringent cost control.
Revenues increased in both segments despite reduced footfall to physical stores as a result of Covid-19 restrictions, mainly driven by increased online shopping and compensating sales initiatives utilizing the omni channel platform.
Key financial highlights
- Q1 revenues increased by +10.4% to MNOK 569.1 (MNOK 515.51). Like-for-like sales increased by +9.3%
- Gross margin increased by 0.9 percentage points to 61.0% (60.1%)
- Adjusted EBITDA of MNOK 112.7 (MNOK 64.7) which is an increase of MNOK 48.0 compared to the first quarter last year
- Renewed agreement with Nordea securing a five-year term loan structure of NOK 611.7 million
The results will be presented at 09:00 CET by CEO Anders Fjeld and CFO Eystein Lund at ABG Sundal Colliers’ Office in Oslo.
Consequent on the Covid-19 pandemic there will only be the possibility to attend digitally by the following link: Link to KID ASA Q1 Presentation. During the digital session questions may be asked through the Team’s chat function.
The quarterly report and the presentation material are available on http://investor.kid.no
ENQUIRIES:
Eystein Lund, CFO, Kid ASA, +47 906 02 127
- Calculated on a constant currency basis. Based on actual FX-rates revenues were up by 12% (MNOK 508.0).