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TCM Group Management's review Interim report Q1 2021 ( January 1 - March 31 ) ( All figures in brackets refer to the corresponding period in 2020 ) Double - digit growth in revenue and earnings in the first quarter . TCM Group CEO Torben Paulin : " We had a good start in the first quarter of 2021 with double - digit growth in both revenue and earnings . Revenue grew by 10.6 % to record high DKK 281 million , through organic growth of 13 % off - set by the divestment of the Svane Køkkenet store in Copenhagen . The revenue growth was driven by all our four brands with the highest growth rates within our DIY segment ( Nettoline and kitchn.dk ) and a higher share of revenue from third party products . Adjusted EBIT grew 11.0 % from DKK 29.7 million to DKK 33.0 million . We reiterate our financial outlook : a revenue in the range of DKK 1,040-1,100 million , and adjusted EBIT in the range of DKK 145-160 million . The market is characterized by pressure on raw material prices and availability , combined with general market uncertainties . " Financial highlights Q1 • • • • • • Revenue DKK 281.1 million ( DKK 254.2 million ) corresponding to a revenue growth of 10.6 % . Adjusted EBITDA DKK 37.6 million ( DKK 35.0 million ) . Adjusted EBITDA margin was 13.4 % ( 13.8 % ) . Adjusted EBIT up DKK 3.3 million to DKK 33.0 million ( DKK 29.7 million ) . Adjusted EBIT margin was 11.7 % ( 11.7 % ) Non - recurring items had a total negative impact of DKK 1.3 million . Non - recurring items included costs related to Covid - 19 precautions , restructuring costs within our supply chain organisation offset by the gain from the divestment of an own operated store . EBIT up DKK 1.9 million to DKK 31.6 million ( DKK 29.7 million ) , corresponding to an EBIT margin of 11.3 % ( 11.7 % ) . Net profit up DKK 2.1 million to DKK 24.7 million ( DKK 22.6 million ) . • Free cash flow was DKK -24.6 million ( DKK -22.3 million ) . • Cash conversion ratio was 83.4 % ( 87.3 % ) . Contact For further information , please contact : CEO Torben Paulin +45 21210464 CFO Mogens Elbrønd Pedersen +45 97435200 IR Contact - ir@tcmgroup.dk TCM Group A / S , Skautrupvej 16 , DK - 7500 Holstebro , Company reg . ( CVR ) no : 37291269 Page 1 of 18