Sandefjord, 30 April 2025: More positive market dynamics and initial effects of
new product launches coming online in computing and gaming, resulted in sales
growth and stable gross margins in the first quarter. Operating expenses
remained relatively stable, while the impact from recent cost and efficiency
measures is gradually taking effect.
Operating revenue increased by 3.8 per cent in the first quarter of 2025, from
NOK 3 245 million to NOK 3 370 million (+2.5 per cent in constant currency). The
progress was supported by more positive market dynamics, in both Norway and in
Sweden.
The gross margin reached 15.0 per cent in the first quarter, reflecting a stable
development from 15.0 per cent in the same period of 2024. The margin
performance was impacted by commercial initiatives, positive mix effects, and
margin management, which were partly offset by a continued competitive market.
Operating expenses increased by 2.4 per cent (+0.7 per cent in constant
currency), as the ongoing measures were offset by general cost inflation,
commercial expansion measures and select marketing investments. The cost and
restructuring measures are proceeding as planned, and the positive effects are
expected to increase gradually into 2025.
EBIT adj. amounted to negative NOK 39 million in the first quarter of 2025 and
remained stable compared with negative NOK 40 million in the same period of
2024.
At the end of March, the group's leverage ratio, defined as NIBD / LTM EBITDA
(adjusted for certain exceptional items), was 3.4x. Net debt levels were
supported by continued solid liquidity at the end of the quarter, primarily
driven by better payment terms. The measured leverage remains well below the
covenant levels previously agreed with the group's financing partners for H1
2025.
The group is seeing positive results from its strategic initiatives, with the
benefits of new cost-saving measures expected to increase throughout 2025
supported by more positive innovation cycles.
Over the past months, global uncertainty has increased substantially. This has
already led to a more cautious consumer sentiment, while the potential impact
from these geopolitical shifts on the overall trading environment has become
increasingly hard to predict.
"The first quarter of 2025 showed signs of market improvement and a more
positive outlook, though consumer sentiment remained cautious across our key
markets in Norway and Sweden. Significant cost saving measures were carried out
during the quarter along with strategic commercial initiatives, in line with our
long-term ambitions." says Jaan Ivar Semlitsch, President and CEO of Komplett
ASA.
"Looking ahead, we will continue our efforts to leverage our scalable and
efficient platform while implementing further cost measures across the group. In
addition, we expect positive effects from many new launches within several
categories with good availability in Q2 and beyond," Semlitsch adds.
The presentation material and report for the first quarter of 2025 are attached
to this notice.
A presentation of the results will be held by CEO Jaan Ivar Semlitsch and CFO
Thomas Røkke at 09:00 CEST in Storstua at Sommerro, Sommerrogata 1, Oslo.
The event will also be made available via a live webcast. Please use the
following link to register and view the webcast:
https://channel.royalcast.com/landingpage/hegnarmedia/20250430_4/
Questions will be addressed towards the end of the presentation. A recorded
version of the webcast will be available shortly after the webcast has
concluded.
For further inquiries, please contact:
Thomas Røkke, CFO
Thomas.Rokke@komplett.com
Kristin Hovland, Head of Communication
Kristin.Hovland@komplett.com
About Komplett ASA
Komplett Group is a leading online-first electronics and IT products retailer,
operating in Norway, Sweden and Denmark. Serving customers in the B2C, B2B and
distribution markets, the Group is deeply focused on delivering best-in-class
customer experience, built through decades of knowhow, expertise and deep
customer commitment. Komplett Group operates an efficient and scalable business
model that supports cost leadership and enables a competitive product offering.
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Elise Heidenreich, Investor Relations adviser, at
the date and time as set out above.