Kid ASA - First Quarter 2020 Results

Lier, 19 May 2020: The board of Directors of Kid ASA has approved the financial report for the first quarter of 2020.

  • Group revenues* increased by 0.7% and like-for-like growth was 0.9%. Revenues were negatively impacted by the outbreak of COVID-19.
  • Gross margin decreased by 0.4 pp due to favourable FX position last year.
  • Adjusted EBITDA of MNOK 64.7 compared to MNOK 52.0 in the first quarter last year.
  • Adjusted EBITDA exclusive of IFRS16 effects of MNOK -7.7 which is a reduction of MNOK 22.7 compared to the first quarter last year, due to the pandemic-related revenue drop in March and the inclusion of Hemtex.
  • Group revenues* increased by 9.3% in April compared to last year. Like-for-like growth was 10.5%. In the first four months of 2020, Group revenues* were up by 2.7% and like-for-like growth was 3.2%.
  • The Board of Directors has proposed a half-year dividend of NOK 1.20 per share

*Based on Hemtex revenues from Hemtex management accounts and calculated in constant currency for purpose of comparison. Hemtex was included in the Group financial accounts as of 15 May

The results will be presented at 09:00 CET by CEO Anders Fjeld and CFO Eystein Lund. Due to the Covid-19 pandemic the presentation will be held as a web conference. To participate, please register online to (optional audio or video):

 

https://keplercheuvreux.zoom.us/j/91159616749 Meeting ID: 911 5961 6749

The quarterly report and the presentation material are available on http://investor.kid.no

ENQUIRIES:

Eystein Lund, CFO (interim) Kid ASA, +47 906 02 127