Kid’s recipe for success

EBITDA 9% below on higher costs

Q3 EBITDA 9% below on higher costs. GM as expected. '24 EBIT estm down 4-5%, stock down 3-4%

Q3 sales in -line

Q3 sales in-line with cons and up 4.4% yoy on though comps. Norway 3% better sales, Sweden 5% below.

Germany's Growth Mode: ON!

5% better EBTDA, European expansion next

Q2 EBITDA / EBIT 5-9% better on higher GM. Set to test online expansion into the European markets in H2'25

Q2 sales largely in line

Q2 sales expected up 11.5%

Q2 sales expected at NOK 807m, up 11.5% y-o-y. We are in -line with cons; neutral stand ahead of the release

Q2 off to a flyer – estimates up

Q1: Another solid report and 25% y-o-y sales growth in April. Sales up 4-5% and EPS 3-4% for 2024-2026. Strong growth justifies higher multiples: BUY, TP NOK 175 (150).

Blow out April sales (+25% yoy)

Q1 EBITDA / EBIT spot on expectations. 25% yoy sales growth in April boosted by campaigns (we had 6%). Stronger Q2 growth likely to lift '24 EBIT by 3-4%.

Kid ASA: 1 director

A director at Kid ASA sold 4,161,291 shares at 123.000NOK and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly sh...

Kid - Will strike back

’23e EPS down 10% on lower GM & higher costs New growth initiatives are highly welcomed Confidence hit, but great entry point

Kid - Will strike back

Weak Q3 as expected due to GM hit. Reiterate GM target for 2023, but ’23e EPS down ~8% Confidence hit, but great entry point

Kid - Weaker GM, 23 EPS likely down 7%

Weaker GM given lack of control Likely to reduce ’22 and 23 EPS by 20% and 7% Disappointing for sure

Kid - Q3: Sales 3.5% below and flattish y-o-y

Sales 3.5% below on softer LFL Full year EBIT likely down ~2% on Q3 sales miss Still strong valuation support

Kid - Standing tall

’23 EPS down 12% on lower expected sales Prepared for challenging times; low debt + track record P/E of 9.0x and ~11% dividend yield – we would BUY

Kid - Ready for a volatile H2’22

Q2: Yet again a solid report and a comforting outlook A favorite in our retail coverage: Outstanding track record P/E below 10x and over 10% divi yield. BUY

Kid - Good Q2 finish

Q2 EBITDA +2% on better opex-to-sales % Freight costs at peak – GM should be better going fwd Good summer sales derisks Q3. Limited est chgs

Kid - Q2 beat an de-risking estimates

Q2 sales 3% better. Both NOR and SWE better Q3 estimates look fine in our view Q2 beat, lifts ’22 sales 1.8% and de-risks estimates

Kid - BUY the favourite

A favourite in our retail coverage Q2 looks safe in our view. Estimates unchanged BUY: 2022e P/E below 9x and >10% divi yield

Kid - Retailing at its best

EPS up 1-3% on higher margins Strong pipeline for growth initiatives P/E 10x, +9% dividend yield. BUY, TP NOK 135 (142)