Kid ASA - Fourth Quarter 2022 Results
Lier, 16 February 2023: The board of Directors of Kid ASA has approved the financial report for the fourth quarter of 2022.
Key financial highlights
- Group revenues increased by 2.1% to MNOK 1,108.6. New products and categories remain a significant growth driver with an increase of 27.6% to MNOK 136.1
- Promising launch of Kid Extended in first pilot store and online during Q4
- Gross margin decreased by 6.5 percentage points to 56.9%. The reduction was mainly caused by increased freight costs without corresponding price adjustments
- Operation expenses-to-sales in Q4 2022 was 36.7% (36.6%) and increased to 44.9% (43.8%) on a full-year mainly because of higher rental costs and cost of electricity
- EBITDA decreased by MNOK 75.9 to MNOK 296.8
- Inventory reduced according to plan contributing to a very strong quarterly cashflow
- Full-year EPS of 6.13 (9.46)
- The Board propose a half-year dividend payment of NOK 3.00 per share. Together with the prepayment of NOK 2.50 from December 2022 this represent 90% of the net profit
The results will be presented at 09:00 CET by CEO Anders Fjeld and CFO Eystein Lund in the auditorium on the ground floor at the offices of Sparebank1Markets, Olav V’s gate 5, 0161 Oslo.
The presentation will also be broadcasted as a live webcast in English hosted by Hegnar Media. Please join the webcast at the following link: https://channel.royalcast.com/landingpage/hegnarmedia/20230216_21/
A recorded version will be made available at http://investor.kid. The quarterly report and presentation material will be available on http://investor.kid.no and http://newsweb.no from 07:30 CET.
ENQUIRIES:
Eystein Lund, CFO, Kid ASA, +47 906 02 127
Anders Fjeld, CEO, KID ASA, +47 996 32 121