Kid ASA

Earnings Release • Nov 27, 2019

Kid ASA - Third Quarter 2019 results

Kid ASA - Third Quarter 2019 results

Lier, 27 November 2019: The board of directors of Kid ASA has approved the

financial report for the third quarter of 2019.

Q3 HIGHLIGHTS (Figures from corresponding period the previous year in brackets)

· Revenues of MNOK 625.9 (MNOK 368.1) in Q3 2019, an increase of 70.0% (7.1%)

compared to Q3 2018. For the first three quarters of 2019, revenues amounted to

MNOK 1352.7* (MNOK 924.5), up 46.3% (5.5%) from Q3 2018. Hemtex AB contributed

with an increase of MNOK 241.0 in revenue for the quarter.

· Gross margin was 59.5% (63.1%) in Q3 and 60.7% (61.2%) for the first three

quarters. The gross margin for the group was negatively impacted by the

termination of all FX hedges in Hemtex at the time of acquisition in Q2, and the

undertaking of new FX hedges at higher currency rates. The terms of the old FX

contracts are maintained in the segment figures for Hemtex.

· Adjusted EBITDA in Q3 was MNOK 144.0 and MNOK 75.3 (MNOK 78.9) exclusive of

IFRS 16 effects. For the first three quarters, adjusted EBITDA was MNOK 281.9

and MNOK 125.1 (MNOK 108.9) exclusive of IFRS 16 effects. Hemtex AB contributed

MNOK 10.1 in Q3 exclusive of IFRS 16 effects. EBITDA is adjusted for transaction

and integrations cost of MNOK 3.1 in Q3 and MNOK 12.5 for the three first

quarters of 2019.

· Adjusted EPS exclusive of IFRS 16 effects increased to NOK 3.92 (3.45) for

the last twelve months.

· For Kid Interior, revenues were MNOK 384.9 (MNOK 368.1) in the third

quarter, representing a revenue growth of 4.6% and like-for-like growth of 2.0%.

Gross margin was 60.9% (63.1%) and EBITDA exclusive of IFRS 16 effects was MNOK

69.6 (MNOK 78.9). Kid interior increased market share to 36.3% (34.2%), for the

twelve months ending 30.06.2019

· For Hemtex, revenues were MNOK 241.0 in the third quarter, representing a

revenue growth of 11.1%** and like-for-like** growth of 3.2%. Gross margin was

59.3% and EBITDA exclusive of IFRS 16 effects was MNOK 10.1.

* Hemtex AB figures are included in the group accounts from 15.May 2019

** Calculated in constant currency.

ENQUIRIES

Henrik Frisell, CFO Kid, +47 480 48 800