Oslo, 24 October 2025: In the third quarter, Komplett Group delivered sales
growth and continued the positive margin trajectory, on the back of the group's
commercial initiatives in a more supportive market environment. Operating costs
remained relatively stable in the period, as the impact of expansion and market
investments was offset by cost and restructuring measures.
Operating revenue increased by 2.3 per cent in the third quarter of 2025, from
NOK 3 755 million to NOK 3 842 million (+0.7 per cent in constant currency). The
market environment continued to improve in both Norway and Sweden, underpinned
by good macroeconomic conditions in Norway and improving income and spending
behaviour in Sweden. Recent product launches continued to support the gaming
related categories, with additional tailwind from strong seasonal sales.
The gross margin reached 13.9 per cent in the third quarter, representing a 1.2
pp uplift from the same period of 2024, resulting in a 12.3 per cent improvement
in gross profit (+10.5 per cent in constant currency). The margin development
reflects a rebalanced campaign and price policy, positive mix effects,
commercial measures, and a somewhat more normalised pricing environment compared
with last year.
EBIT adj. amounted to NOK 3 million in the third quarter of 2025, representing a
marked progress of NOK 49 million compared with the negative NOK 46 million in
the same period of 2024.
Measures to optimise operations and accelerate profitability were reinforced
during the quarter, and the consolidation of activities in Sweden was completed.
The positive effects from the group's commercial and cost initiatives are
expected to increase into the latter part of 2025 and into 2026.
At the end of September, the group's leverage ratio, defined as NIBD / LTM
EBITDA (adjusted for certain items), was 3.0x. The leverage remains in line with
the financial arrangements, and below the temporarily raised covenant level of
3.75x that has been agreed with the group's financing partners for Q3 2025.
New CEO Ros-Marie Grusén took office on 1 August.
"In the third quarter, our operations in Norway continued its good momentum,
also supported by recent gaming launches and strong demand for seasonal products
and recent gaming launches. The efforts to optimise the product mix and balance
margins had a positive impact on profitability, while sales in Sweden were
somewhat affected by a more rebalanced campaign and price policy in NetOnNet,"
says Ros-Marie Grusén, President and CEO of Komplett ASA.
"Our cost and efficiency measures are progressing as planned, with impact
expected to increase in the coming period. Following a period of industry
headwinds, we are now gaining traction, and I am eager to accelerate our
progress on the strategic agenda and our path towards sustained profitability,"
Grusén adds.
The presentation material and report for the third quarter of 2025 are attached
to this notice.
A presentation of the results will be held by CEO Ros-Marie Grusén 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/20251024_1/
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 know-how, 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.