TCM Group A/S: Interim report Q1 2025

Core Insights - The company reported a 5% year-on-year increase in total sales for Q1 2025, reaching DKK 308 million, with organic growth of 4% driven by a recovering B2C market [1][7] - Positive order intake was observed in both B2C and B2B segments, with notable double-digit growth in the Norwegian market [2] Financial Performance - Gross margin improved to 21.1% in Q1 2025 from 20.5% in Q1 2024, primarily due to the acquisition of two Svane Køkkenet stores, although underlying gross margin remained stable due to higher production and logistics costs [3] - Adjusted EBIT for Q1 2025 was DKK 17.1 million, an increase from DKK 15.8 million in Q1 2024, resulting in an adjusted EBIT margin of 5.6% [4][7] - Free cash flow was negative at DKK 4 million, a decline from a positive DKK 13 million in Q1 2024, attributed to investments in a new lacquering facility and an ERP project [4][7] Product Development - The company launched new products across its portfolio, including the "Truffel" extension of the Sense product line for AUBO's 40th anniversary and the Notes Bronze addition to Svane Køkkenet's veneer assortment [5] Future Guidance - The company maintains its full-year guidance for 2025, expecting revenue between DKK 1,250 million and DKK 1,400 million, with adjusted EBIT projected between DKK 90 million and DKK 120 million [6][7]