Kid (KID) Q4 2025 earnings summary

Executive summary

• Group revenue grew 3.5% in Q4 to MNOK 1,452.5, with online sales up 6.5% and like-for-like revenue up 0.8%, despite logistical constraints from the new warehouse transition.

• Full-year revenue increased 4.2% to MNOK 3,944.6, with online sales representing 13.2% of total revenues.

• Gross margin remained robust at 61.2% for Q4 and 61.5% for the year, with positive freight effects offset by currency and campaign activity.

• EBITDA for Q4 was MNOK 439.9, down from MNOK 464.5, reflecting higher OPEX from warehouse ramp-up, marketing, and inflation.

• EPS for Q4 was NOK 5.47, down from NOK 7.11, with last year’s figure boosted by a one-time warehouse sale.

Financial highlights

• Q4 group revenue increased by MNOK 48.8 (+3.5%) year-over-year, mainly from Norway.

• Full-year revenue up 4.2%, with a 7.5% CAGR since 2022.

• Gross profit for Q4 was MNOK 888.9; gross margin unchanged at 61.2%.

• Q4 EBITDA reached MNOK 439.9; full-year EBITDA MNOK 949.1.

• Net profit for Q4 was MNOK 222.2, and for the year MNOK 229.2.

• Operating expenses rose 14.1% in Q4, driven by non-recurring warehouse transition costs and inflation.

• Net interest-bearing debt (excl. IFRS 16) at MNOK 722.4; financial gearing ratio 1.46.

Outlook and guidance

• Operations have largely stabilized post-warehouse transition; no material revenue loss from logistics expected in 2026.

• Focus in 2026 on unlocking warehouse efficiencies and completing system modernization.

• Digital pilot for Hemtex in Germany/EU postponed to 2026.

• Board proposes authority for additional half-year dividend in November 2026, subject to results.