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]

Group 1 - BofA Securities Europe SA has reduced its holding in TCM Group A/S from 10.278% to 0.196% in share capital and voting rights as of April 23, 2025 [1] - The direct or indirect control of shares/voting rights by BofA Securities Europe SA corresponds to 1,080,571 shares in TCM Group A/S [1] - The breakdown of the holdings shows a decrease in shares attached to shares from 0.844% to 0.195% and through financial instruments from 9.434% to 0.001% [1] Group 2 - TCM Group is the third largest manufacturer of kitchens and furniture for bathrooms and storage in Scandinavia [2] - The company operates under a multi-brand strategy, with the main brand being Svane Køkkenet, alongside Tvis Køkken, Nettoline, and AUBO [2] - TCM Group products are designed and produced in Denmark and are sold through approximately 220 dealers across Denmark and Scandinavia [2]

Company Announcement - The Annual General Meeting was held on April 9, 2025, at the company's address in Holstebro, Denmark [1] Board of Directors' Report - The Board of Directors' report was acknowledged but not subject to voting [2] - The audited Annual Report for 2024 was approved [2] - The remuneration report and policy were adopted, along with the fees for the Board of Directors for 2025 [2] Dividend and Re-elections - A dividend of DKK 3.00 per share was approved for distribution [3] - Six members of the Board of Directors were re-elected [3] - PricewaterhouseCoopers was re-elected as the auditor [3] Sustainability and Share Acquisition - PricewaterhouseCoopers was also re-elected as the sustainability auditor [4] - The Board of Directors was authorized to acquire treasury shares [4] Articles of Association and Board Composition - Changes to the company's Articles of Association were adopted based on updates to the Danish Companies Act [5] - Following the meeting, the Board of Directors elected Anders Tormod Skole-Sørensen as chair and Søren Mygind Eskildsen as vice-chair [5] Company Overview - TCM Group is the third largest manufacturer of kitchens and furniture for bathrooms and storage in Scandinavia, with products designed and produced in Denmark [6] - The company operates a multi-brand strategy, with the main brand being Svane Køkkenet, and sells through approximately 220 dealers in Denmark and Scandinavia [6] - TCM Group also supplies private label kitchens through DIY stores in Denmark and independent kitchen stores in Norway, and is a supplier to the e-commerce kitchen business Celebert [6]