COMPANY ANNOUNCEMENT
No. 46/2019
Tvis, 14 August 2019
Interim report Q2 2019 (April 1 - June 30)
(All figures in brackets refer to the corresponding period in 2018)
TCM Group continued to gain market share with 11% organic growth – outlook raised
CEO Ole Lund Andersen
“Our strong performance continued in Q2 with an organic revenue growth of 11%, while EBIT grew 9%. We continued to gain market share in a Danish market that we estimate is growing 1-2%. We have delivered strong growth especially within B2B through the branded stores in Denmark. Based on the strong performance in Q2 and a solid order pipeline, we have raised our full-year outlook both with regards to revenue and earnings.”
Financial highlights Q2 2019:
Financial highlights H1 2019:
Conference call
A conference call for investors and analysts will be held today at 9:30 CET. The presentation for the conference call will be available on www.investor-en.tcmgroup.dk
Dial-in numbers for the conference call:
Confirmation Code: 7478596
Denmark: +45 32728042
Sverige: +46 (0)850692180
United Kingdom: +44 (0)844 571 8892
Contact
For further information, please contact:
CEO Ole Lund Andersen +45 97435200
CFO Mogens Elbrønd Pedersen +45 97435200
IR Contact - ir@tcmgroup.dk
About TCM Group
TCM Group is Scandinavia’s third largest manufacturer of kitchens and furniture for bathrooms and storage. The products are Danish design, produced in Denmark and rooted in a proud tradition of good quality and good craftsmanship. TCM Group pursues a multi-brand strategy, under which the main brand is Svane Køkkenet and the other brands are Tvis Køkkener, Nettoline and kitchn. Combined, the brands cater for the entire price spectrum, and are sold through c. 135 dealers in Denmark and the rest of the Scandinavia. In addition, TCM Group sells private label kitchens through DIY stores in Denmark and independent kitchen stores in Norway. See www.tcmgroup.dk for more information.
This interim report contains statements relating to the future, including statements regarding the TCM Group's future operating results, financial position, cash flows, business strategy and future targets. Such statements are based on management’s reasonable expectations and forecasts at the time of release of the interim report. Forward-looking statements are subject to risks and uncertainties and a number of other factors, many of which are beyond the TCM Group's control. This may have the effect that actual results may differ significantly from the expectations expressed in the interim report. Without being exhaustive, such factor include general economic and commercial factors, including market and competitive conditions, supplier issues and financial and regulatory issues.
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