Kid ASA – First Quarter 2024 Results

Lier, 16 May 2024: The Board of Directors of Kid ASA has approved the financial report for the first quarter of 2024.

“We are pleased to present the third consecutive quarter with double digit growth. Our value-for-money position and concept remain resilient amid continuing challenging market conditions. Growth in the quarter was accelerated by store projects, combined with omnichannel and category development initiatives”, says Anders Fjeld, CEO of Kid ASA.

KEY FINANCIAL HIGHLIGHTS:

• Group revenues increased by 15.0% to MNOK 696.5.
• Gross margin increased by 5.5 percentage points to 61.5%.
• Operating expenses relative to sales (excl. IFRS 16) in Q1 was 57.5% (60.5%).
• EBITDA increased by MNOK 67.9 to MNOK 124.5.
• Cash flow from operations impacted by inventory build-up.

The results will be presented at 08:30 CEST by CEO Anders Fjeld and CFO Mads Kigen in the offices of Pareto Securities, Dronning Mauds gate 3, 0250 Oslo. The presentation will also be broadcasted as a live webcast. A recorded version will be made available at http://investor.kid.no.

To attend the presentation in-person or to follow the live webcast, please register at: https://invitepeople.com/events/aba07d6d3d

The quarterly report and presentation material will be available on http://investor.kid.no and http://newsweb.no from 07:30 CEST.

ENQUIRIES:

Anders Fjeld, CEO, KID ASA, +47 996 32 121, anders@kid.no 

Mads Kigen, CFO, Kid ASA, +47 952 60 507, mads@kid.no