TCM Group AS (LTS:0CUN)

kr 66 0 (0%) Market Cap: 684.90 Mil Enterprise Value: 972.60 Mil PE Ratio: 17.08 PB Ratio: 1.21 GF Score: 63/100

Q3 2020 TCM Group A/S Earnings Call Transcript

Nov 11, 2020 / 08:30AM GMT

Release Date Price: kr137

Transcript

Torben Paulin;S;CEO

TCM Group A

/-

Good morning, everybody, and welcome to our Q3 report. Today, I'm together with our CFO, Mogens ElbrÃ¸nd Pedersen; and myself, Torben Paulin.

And let us start the presentation now. Please turn to Page 2 for the business update.

Overall, the Danish kitchen market has been resilient despite the COVID-19 situation and the related macroeconomic uncertainty. In the quarter, revenue growth of 4.2% was driven by growth in the Danish market through the branded stores, which in Denmark include also Nettoline stores.

Furthermore, we continue to see growth in our e-commerce channel, kitchn.dk. And furthermore, we saw an increase in revenue from third-party products.

Our Norwegian business was softer in the quarter, which should be seen in the light that the Norwegian market was weaker than the Danish kitchen market in the quarter. Our view on the long-term potential for our Norwegian business is unchanged, and we remain committed to fully exploit the potential we have in the Norwegian market.

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