Kid ASA

Investor Presentation • Nov 12, 2024

Third quarter in brief

• Group revenues increased by 6.7% (+13.1%) to MNOK 886.9. In constant currency:
  • Group revenues increased by 4.4% (+12.1%)
  • LFL revenues increased by 3.0% (+12.9%)
  • Online revenues increased by 1.4% (+26.8%)
• Gross margin of 62.1%, unchanged from last year
• EBITDA decreased by MNOK -5.0 to MNOK 236.4
• EPS of NOK 1.73 (NOK 2.23)
• Cash flow from operations of MNOK 110.4 impacted by Q4 preparation
• Dividend payment of NOK 3.00 per share

Third quarter in brief

• Categories launched since 2022 accounted for MNOK 29.3 (MNOK 19.7) in revenues
• The Extended concept and made-to-measure technical sun screening progresses satisfactorily in Hemtex after launch in first half 2024
• Earlier shipments are arranged to ensure optimal execution of Q4 and the Christmas shopping season, considering the global freight situation
• Completed two store projects in Kid Interior and one in Hemtex
• Successful opening of the seventh Extended store at Kilen (Tønsberg, Norway) in September. 13 Extended stores signed in total for Norway
• Warehouse project in Sweden is progressing according to plan. The project includes streamlining processes combined with investments in automation and tech solutions

Group revenues Q3 increased by 6.7% to MNOK 886.9

• In constant currency:
  • Group revenues increase of 4.4% (+12.1%)
  • Group like-for-like revenues increase of 3.0% (+12.9%) including online sales
  • Online growth of 1.4% (+26.8%), equivalent to an online share of 11.4% (11.7%). Including click-and-collect, the online share was 16.1% (16.5%)
• Kid Interior revenue growth of 8.7% (+13.1%)
  • Like-for-like growth of 7.0% (+12.7%) including online sales
  • Online sales increased by 17.6% (+45.5%)
• Hemtex revenue growth of 3.5% (+13.1%). In constant currency:
  • Revenues decline of -2.3% (+10.5%)
  • Like-for-like decline of -3.5% (+13.3%) including online sales
  • Online sales decreased by -15.4% (+11.2%)

Strong gross margin

• Group gross margin was unchanged at 62.1% for the quarter
  • Kid Interior gross margin decreased by -1.2pp to 61.6% (62.8%)
  • Hemtex gross margin increased by 2.2pp to 63.0% (60.8%)
• Gross margin development is a result of changes in the campaign activity plan for both Kid Interior and Hemtex
• Freight rates are declining following the unrest observed in the Red Sea / Gulf of Aden in late 2023 and H1-24. The freight situation is monitored closely, and we are prepared to take further actions, if necessary

OPEX-TO-SALES (excl. IFRS 16) of 46.7% (43.6%)

• Employee benefit expenses increased by MNOK 26.8
  • General salary increase and increased number of working hours in stores, in addition to store project activity and net new stores
  • Increased bonus provision this year due to strong performance
  • Increased logistics due to activity level and Q4 preparation
  • MNOK 3.8 increase due to changes in SEKNOK exchange rate
• Other operating expenses increased by MNOK 13.3
  • Increased rental costs due to index regulation of rent and store expansions
  • Increased marketing spend and sales activity level
  • MNOK 3.2 increase due to changes in SEKNOK exchange rate

Personell Other Opex

Kid Interior Hemtex

Cash flow development in Q3

• Cash flow from operations affected by planned inventory build-up of MNOK 160.0
• Cash flow from investments reflects mainly CAPEX relating to store openings, store projects and the warehouse project in Sweden
• Cash flow from financing represents lease payments, net interests and use of overdraft facility

Description Term loan Term loan (new) Revolving credit facility Overdraft facility Cash and deposits Maturity 15.05.2026 01.05.2027 27.04.2026 12 months n.a. 511.7 511.7 125.0 - 125.0 230.0 200.0 30.0 247.0 72.6 174.4 1,113.7 784.3 329.4 Facility Utilised Available

Satisfactory financial position

• Cash and available credit facilities of MNOK 329.4 (MNOK 271.1), including an unused termloan facility of MNOK 125 related to investments in the Swedish warehouse
• Net interest-bearing debt excl. IFRS 16 leasing liabilities of MNOK 784.3 (MNOK 747.5)
• Gearing ratio, excl. IFRS 16 effects, of 1.30x (1.72x)

	Completed 2024 per quarter-end	Signed, but not yet completed
New stores	NO: Oslo City NO: Egersund SE: Vetlanda SE: Ringen, Stockholm	NO: Værste, Fredrikstad (Q4-24) NO: Grünerløkka (Q2-25) NO: Bryn (Q2-25) SE: Nordstan, Göteborg (Q4-24) FI: Åbo Hansa (Q4-24)
Closures	NO: 2 stores SE: 4 stores	NO: 1 store
Relocations	NO: 7 stores SE: 5 stores	NO: 3 stores SE: 2 stores
Refurbishment/ expansion	NO: 4 stores SE: 2 stores	NO: 7 stores SE: 4 stores
Extended	NO: Grini NO: Kilen, Tønsberg	NO: Moa, Ålesund (Q4-24) NO: Tiller (Q4-24) NO: Alna (Q1-25) NO: City Nord, Bodø (Q2-25) NO: Lagunen (Q4-25) NO: 1 store**

• In Q4-24, we have five store projects in Kid Interior and three in Hemtex. These projects include a combination of refurbishment, enlargement and relocations
• In H1-25, we have three store projects in Kid Interior and three in Hemtex. These projects include a combination of refurbishment, enlargement and relocations
• The process for the sale of the Swedish warehouse property is progressing as planned
• Well prepared for the Christmas shopping season
• Anders Fjeld has informed the Board that he will resign as CEO of Kid ASA, to take the position as CEO of Sport Holding AS. He will hold the position until 1 May 2025

Dividend of NOK 3.00 per share

• The Board of Directors has decided to pay a half-year dividend of NOK 3.00 per share as a prepayment on the fiscal year 2024
• Following the Q4 2024 results, the Board of Directors will propose the next half-year dividend to the annual general meeting in May 2025
• The proposed pay-out details are:
  • Last day including right: 18 November 2024
  • Ex-date: 19 November 2024
  • Record date: 20 November 2024
  • Payment date: 29 November 2024
  • Date of approval: 11 November 2024 (Board Resolution according to proxy approved at the Annual General Meeting)

KID Interior

(Amounts in millions) NOK	Q3 2024	Q3 2023	Q1-Q3 2024	Q1-Q3 2023	FY 2023
Revenue	562.9	517.8	1,501.0	1,354.4	2,122.9
growth Revenue	8.7 %	13.1 %	10.8 %	5.8 %	7.0 %
LFL growth including online sales	7.0 %	12.7 %	9.5 %	4.8 %	6.1 %
COGS	-216.4	-192.5	-568.5	-531.0	-796.2
profit Gross	346.5	325.3	932.5	823.4	1,326.7
(%) Gross margin	61.6 %	62.8 %	62.1 %	60.8 %	62.5 %
Other operating revenue	0.2	0.0	0.5	0.1	0.1
Employee benefits expense	-116.2	-98.2	-335.0	-295.9	-436.5
Other operating expense	-124.2	-109.9	-360.8	-330.5	-463.9
Other effect operating expense - IFRS 16	53.6	49.7	160.3	143.0	189.2
EBITDA	159.9	166.9	397.5	340.1	615.5
(%) EBITDA margin	28.4 %	32.2 %	26.5 %	25.1 %	29.0 %
of shopping days No.	7 9	7 9	227	227	306
No. of physical stores at period end	158	156	158	156	157

Hemtex
(Amounts millions) in NOK	Q3 2024	Q3 2023	Q1-Q3 2024	Q1-Q3 2023	FY 2023
Revenue	324.0	313.1	880.2	806.0	1,290.7
¹ growth Revenue	-2.3%	10.5 %	6.3 %	-1.3%	3.2 %
¹ growth including online sales LFL	-3.5%	13.3 %	5.5 %	1.0 %	4.4 %
COGS	-119.9	-122.7	-329.4	-324.1	-518.0
profit Gross	204.1	190.4	550.8	481.9	772.6
(%) Gross margin	63.0 %	60.8 %	62.6 %	59.8 %	59.9 %
Other operating revenue	1.2	1.0	3.0	2.5	4.2
Employee benefits expense	-72.1	-63.3	-211.9	-188.8	-268.2
Other operating expense	-101.7	-90.6	-311.5	-283.0	-390.0
Other operating expense - IFRS 16 effect	45.0	36.9	134.5	112.0	150.4
EBITDA	76.5	74.5	164.9	124.5	269.0
(%) margin EBITDA	23.5 %	23.7 %	18.7 %	% 15.4	20.8 %
of shopping days No.	9 2	9 2	272	271	362
(excl. franchise) of physical stores at period end No.	117	117	117	117	119

¹ Calculated in local currency

(Amounts thousand) in NOK	Q3 2024	Q3 2023	Q1-Q3 2024	Q1-Q3 2023
Revenue	886.9	830.9	2,381.3	2,160.4
COGS	-336.3	-315.1	-897.9	-855.2
profit Gross	550.6	515.8	1,483.3	1,305.3
(%) Gross margin	62.1 %	62.1 %	62.3 %	60.4 %
Other operating revenue	1.3	1.0	3.5	2.6
OPEX	-315.5	-275.4	-924.4	-843.2
EBITDA	236.4	241.4	562.4	464.6
(%) EBITDA margin	26.6 %	29.0 %	23.6 %	21.5 %
and Depreciation amortisation	-118.2	-101.8	-351.3	-298.4
EBIT	118.2	139.6	211.1	166.2
(%) margin EBIT	13.3 %	16.8 %	8.9 %	7.7 %
finance Net	-25.0	-20.2	-68.0	-58.7
Share of result from joint ventures	-0.7	-1.3	-2.2	-1.6
Profit before tax	92.5	118.0	140.9	105.9
profit Net	70.2	90.6	109.5	80.4

(Amounts thousand) in NOK	Note	30.09.2024	30.09.2023	31.12.2023
Assets		Unaudited	Unaudited	Audited
Goodwill	9	72,115	67,581	70,169
Trademark	9	1,515,356	1,511,858	1,513,851
Other intangible assets	9	44,775	42,635	46,699
Deferred tax asset		6,111	0	6,593
Total intangible assets		1,638,357	1,622,075	1,637,312
Right of use asset	9	1,181,866	1,039,539	1,050,028
and fittings, tools, office machinery and Fixtures
equipment	9	336,955	299,657	303,178
Total tangible assets		1,518,821	1,339,196	1,353,206
in associated companies and joint Investments ventures	0 1	0	0	1,013
Loans to associated companies and joint ventures	8	71,074	37,591	50,702
Total financial fixed assets		71,074	37,591	51,716
Total fixed assets		3,228,253	2,998,862	3,042,234
Inventories		930,785	728,704	576,279
Trade receivables		25,708	10,135	32,640
Other receivables		31,038	27,013	43,031
Derivatives		28,593	61,783	29,337
Totalt receivables		85,339	98,931	105,009
Cash and bank deposits		0	0	225,065
Total currents assets		1,016,124	827,635	906,353
Total assets		4,244,377	3,826,500	3,948,587

(Amounts in NOK thousand)	Note	30.09.2024	30.09.2023	31.12.2023
Equity and liabilities		Unaudited	Unaudited	Audited
Share capital		48,770	48,770	48,770
Share premium		321,050	321,050	321,050
Other paid-in-equity		64,617	64,617	64,617
Total paid-in-equity		434,440	434,440	434,440
Other equity		890,570	812,384	880,840
Total equity		1,325,007	1,246,824	1,315,280
Deferred tax		316,803	322,902	312,218
Total provisions		316,803	322,902	312,218
Lease liabilities		876,683	767,079	779,287
Liabilities to financial institutions	6	681,564	671,658	491,661
Total long-term liabilities		1,558,247	1,438,737	1,270,947
Lease liabilities		351,765	302,320	305,640
Liabilities to financial institutions	6	102,620	75,853	30,000
Trade payable		213,386	152,038	203,375
Tax payable		4,618	0	55,813
Public duties payable		152,811	129,098	209,941
Other short-term liabilities		207,120	155,305	191,626
Derivatives		12,000	3,424	53,748
Total short-term liabilities		1,044,320	818,038	1,050,144
Total liabilities		2,919,370	2,579,676	2,633,310
Total equity and liabilities		4,244,377	3,826,500	3,948,587

(MNOK)	Q1 2024	Q1 2023	Q2 2024	Q2 2023	Q3 2024	Q3 2023	Q4 2024	Q4 2023	Total year 2024	Total year 2023
Kid ASA and Kid Interior
Segment allocated employee benefits expense	4.0	4.2	4.3	4.0	4.3	4.0		6.6	12.6	18.9
Segment allocated other operating expense	1.2	0.5	1.3	0.5	1.3	0.5		1.3	3.8	2.6
Hemtex
Segment allocated employee benefits expense	-4.0	-4.2	-4.3	-4.0	-4.3	-4.0		-6.6	-12.6	-18.9
Segment allocated other operating expense	-1.2	-0.5	-1.3	-0.5	-1.3	-0.5		-1.3	-3.8	-2.6

Group
Total growth
Year	Q1	Q2	Q3	Q4
2021	10.4 %	3.9 %	3.6 %	2.5 %
2022	9.3 %	8.8 %	0.5 %	2.1 %
2023	-1.3 %	-2.5 %	12.1 %	10.2 %
2024	13.7 %	10.6 %	4.4 %
Like-for-like growth Year	Q1	Q2	Q3	Q4
2021	9.3 %	2.9 %	0.1 %	0.2 %
2022	7.3 %	5.6 %	-0.4 %	1.8 %
2023	-0.3 %	-3.3 %	12.9 %	9.3 %
2024	13.5 %	9.2 %	3.0 %

Kid Interior					Hemtex
Total growth					Total growth
Year	Q1	Q2	Q3	Q4	Year	Q1	Q2	Q3
2020	-3.6 %	28.0 %	22.1 %	15.3 %	2020	6.6 %	14.7 %	-3.7 %
2021	13.6 %	1.7 %	-3.9 %	-1.0 %	2021	6.4 %	7.7 %	17.4 %
2022	12.5 %	8.9 %	1.4 %	2.3 %	2022	4.8 %	8.8 %	-1.0 %
2023	5.2 %	-1.1 %	13.1 %	9.3 %	2023	-10.9 %	-4.8 %	10.5 %
2024	13.4 %	11.0 %	8.7 %		2024	14.3 %	9.9 %	-2.3 %
Like-for-like growth					Like-for-like growth
Year	Q1	Q2	Q3	Q4	Year	Q1	Q2	Q3
2020	-4.0 %	27.1 %	20.9 %	13.6 %	2020	7.9 %	18.0 %	9.2 %
2021	10.3 %	-0.9 %	-7.1 %	-3.8 %	2021	7.8 %	9.8 %	14.6 %
2022	10.7 %	5.8 %	-1.0 %	0.9 %	2022	2.0 %	5.2 %	0.8 %
2023	3.5 %	-2.0 %	12.7 %	8.5 %	2023	-6.5 %	-5.4 %	13.3 %
2024	12.7 %	9.5 %	7.0 %		2024	14.9 %	8.7 %	-3.5 %

Kid Interior Hemtex

Year	Q1	Q2	Q3	Q4	Total	Year	Q1	Q2	Q3	Q4	Total
2023	7 7	7 1	7 9	7 9	306	2023	8 9	9 0	9 2	9 1	362
2024	7 5	3 7	9 7		227	2024	9 0	9 0	9 2		272

2023	Q1	Q2	Q3	Q4	Total	2023	Q1	Q2	Q3	Q4	Total
New stores	0	1	0	1	2	New stores	1	0	0	2	3
Closed stores	1	0	0	0	1	Closed stores	2	1	0	0	3
Relocated stores	4	1	0	1	6	Relocated stores	1	3	3	3	1 0
Refurbished stores	3	3	1	3	1 0	Refurbished stores	1	0	1	1	3
Total number of stores	155	156	156	157		Total number of stores*	129	128	128	130
2024	Q1	Q2	Q3	Q4	Total	2024	Q1	Q2	Q3	Q4	Total
New stores	1	2	0		3	New stores	0	2	0		2
Closed stores	1	1	0		2	Closed stores	1	3	0		4
Relocated stores	4	2	2		8	Relocated stores	1	3	1		5
Refurbished stores	3	1	0		4	Refurbished stores	2	0	0		2
Total number of stores	157	158	158			Total number of stores*	129	128	128

Number of sales days Number of sales days

Year	Q1	Q2	Q3	Q4	Total
2023	89	90	92	ਰੇ 1	362
2024	90	90	92		272

Number of store projects Number of store projects

2023	Q1	Q2	Q3	Q4	Total
New stores	1	O	0	2	3
Closed stores	2	1	0	0	3
Relocated stores	1	ന	3	3	10
Refurbished stores	1	o	1	1	3
Total number of stores *	129	128	128	130
2024	Q1	Q2	Q3	Q4	Total
New stores	0	2	0		2
Closed stores	1	3	0		4
Relocated stores	1	ന	1		5
Refurbished stores	2	O	0		2
Total number of stores *	129	128	128

*incl franchise stores

Logistic costs - Sweden

									Total year	Total year
(MSEK)	Q1 2024	Q1 2023	Q2 2024	Q2 2023	Q3 2024	Q3 2023	Q4 2024	Q4 2023	2024	2023
Employee benefits expense	5 4		5 3	2 2	5 0	4 4		5 2	15 6	11 7
Third-party logistics expense		12 1		1 7						13 9
Central warehouse expenses*	7 7	2 0	10 1	9 9	8 7	8 3		7 6	26 6	27 8
Total incl . non-recurring items	13.0	14.2	15.4	13.7	13.7	12.7	0.0	12.8	42.2	53.4
Non-recurring items
Employee benefits expense		-0 8		-0 6						-1 4
Third-party logistics expense		-2 2		-1 7		0 4				-3 5
Central warehouse expenses		-0 5								-0 5
Total excl . non-recurring items	13.0	10.7	15.4	11.4	13.7	13.1	0.0	12.8	42.2	48.0

*Excluding IFRS 16. Please note that we in 2023 have lower rental costs due to agreed discount in the lease agreement.