Kid ASA (FRA:97Q) Q4 2025 Earnings Call Highlights: Navigating Growth Amidst Logistical Challenges

This article first appeared on GuruFocus .

Release Date: February 11, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript .

Positive Points

• Kid ASA ( FRA:97Q ) reported a 3.5% revenue growth for the group in Q4 2025 despite logistical challenges.

• The company saw strong performance in its Kid Interior segment, with a 4.4% revenue growth.

• Online revenue development was robust, with a 23.5% increase in Kid Interior, raising the online share to 13.7% on a group level.

• Focus categories such as bathroom and kitchenware showed positive development, contributing to overall growth.

• The gross margin remained strong at 61.2%, consistent with the previous year, indicating effective cost management.

Negative Points

• Logistical challenges due to the new warehouse transition led to an estimated NOK60 million to NOK80 million in lost sales.

• Hemtex segment underperformed, with a reported revenue growth of only 2.1%, and a decrease of 2.6% on a constant currency basis.

• Operating expenses increased by 14.1% in the quarter, driven by nonrecurring items and strategic investments related to the new warehouse.

• The transition to the new warehouse was more complex than anticipated, resulting in temporary inefficiencies and increased costs.

• Currency effects negatively impacted the financial results, with a significant negative currency effect of NOK4.4 million compared to last year.

Q & A Highlights

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Q: How did the market perform in Q4 '25 in Norway and Sweden? Are you seeing increased competition as we enter 2026? A: In Norway, we experienced a weak October and November, but December was better. We are satisfied with Kid's performance compared to the market. In Sweden, competition is increasing, particularly from low-price players and Chinese competitors.

Q: Do you see any overhang of seasonal goods from Q4 '25 into the first quarter of '26? A: No, we are pleased to report that over 90% of our Christmas assortment was sold out, and we do not have a large stock of seasonal items in our inventory by year-end.

Q: How is the progress on the sublease on Lier? A: We are in positive dialogue regarding different solutions and are confident in securing a good outcome for the group.

Q: Do you expect FX tailwinds in 2026? A: Our currency hedging policy means that a stronger Norwegian kroner compared to the USD could theoretically improve margins. However, the margin is influenced by multiple factors, including freight, energy, and raw materials.