Q2 2026 Kid ASA Earnings Call Transcript
Key Points
- Strong revenue growth of 6.8% reported and 9.1% in constant currency, driven by robust performance in both physical stores and online.
- Online sales surged nearly 43% year-over-year, with online share increasing to 15.9% (20.4% including click and collect).
- Gross margin improved by 0.9 percentage points to 63.2%, supported by lower freight costs and favorable currency effects.
- New categories introduced since 2022 grew by 25.7%, including strong performance in outdoor furniture and bathroom products.
- Warehouse operations stabilized, with labor productivity up 25% year-over-year, and no revenue impact from previous logistical challenges.
- Negative Easter calendar effect impacted sales, particularly in Norway, despite overall growth.
- Elevated freight rates due to global disruptions and Middle East unrest may negatively impact margins going forward.
- Operating expenses increased by 5.4%, driven by higher marketing, IT investments, and bonus accruals, partly offset by currency.
- Hemtex.de launch had a negative contribution of 0.4 million in revenue and costs below 1 million, with the Hemtex.com launch delayed to later in 2026.
- Net interest-bearing debt increased year-over-year due to higher activity levels, working capital changes, and investments, with gearing ratio at 2.06.
Morning, everyone, and welcome to our presentation of second quarter. I'm Marianne Fulford, CEO at KID.
And with me today, I have Max Keegan, CFO at KID. And we will walk you through the presentation together.
We deliver a solid second quarter, driven by strong development across both KID.
We deliver strong sales growth across both online and physical stores.
This despite a negative Easter calendar effect in Norway.
Growth was driven by a highly commercial seasonal assortment and an increase in the number of transacting customers.
The solid online growth continues through second quarter and online revenues increased significantly.
Online growth was driven by positive development across both Kidd and Hemtex.
We also delivered a solid growth in EBITDA and a strong gross margin in the quarter.
Overall, costs were in line with our expectations. As the business grew, we continued to invest in marketing, technology and commercial initiatives while maintaining good cost
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