TCM Group increases net profit significantly in Q3

15.11.2018 − 

Danish TCM Group improved its key results figures significantly in the third quarter. Net profit increased seven-fold in the reporting period to DKK23.0m. The EBIT almost quadrupled to DKK30.6m and the adjusted EBITA also increased by 14.6% to DKK32.5m. The adjusted EBITDA also rose by 13.9% to DKK34.5. CEO Ole Lund Anderson attributes this positive results development to the improvement in efficiency in production processes and synergies in connection with, for example, the takeover of kitchen manufacturer Nettoline at the beginning of January 2017.

In addition to the results, TCM also improved turnover by 9.5% to DKK202.4m. Consequently, this represents a continuation of the growth recorded in the first and second quarters when increases of 3.5% and 9.9% respectively were achieved. Of total turnover, DKK184.8m (+12.1%) was generated in the main sales market of Denmark during the reporting period. This corresponds to a proportion of 91% of total TCM turnover. In Denmark business via the Svane and Tvis kitchen studio brands in the B2B sector, in particular, developed along positive lines.

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