TCM Group A/S
Interim Report July-September 2020
November 11, 2020
Business update Q3 2020
- Growth driven by the Danish market primarily within branded stores including Nettoline and kitchn.dk as well as a higher revenue from 3rd party products
- The Danish kitchen market has been resilient despite Covid-19
- The Norwegian kitchen market influenced by Covid-19
- Number of branded stores was 68 (67). Furthermore, 20 dealers have converted stores into the Nettoline store concept and therefore considered branded stores
- Continued product innovation with the launch of S12 RAW Limited edition
- Financial outlook reiterated
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Revenue growth in Q3 of 4.2%
Revenue
247 mDKK
(238 mDKK)
Cash conversion | 4.2% |
94.2% | revenue growth |
(101.7%) |
NWC ratio | EBIT |
-8.0% | 32 mDKK |
(-7.3%) | (34 mDKK) |
EBIT margin
13.0%
(14.4%)
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Q3 revenue growth driven by the Danish business
2020 | 2019 | 2020 | 2019 | ||
Jul-Sep | Jul-Sep | Jan-Sep | Jan-Sep | ||
Net revenue (mDKK) | 247 | 238 | 762 | 745 | |
- Organic growth | 4.2% | 2.2% | |||
Q3 comments:
- Revenue growth in Denmark was +5.6%
- Growth in Denmark driven by branded stores including Nettoline and kitchn.dk as well as revenue from 3rd party revenue
- Revenue outside Denmark decreased by 13.6%
5.6% growth
in DK revenue
13.6% decrease
in revenue outside DK
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TCM Group A/S published this content on 11 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2020 08:16:04 UTC