Europris (EPR)

TekBot · april 9, 2024, 12:37pm

Europris ASA Q1 2024: Invitation to presentation of first quarter 2024 results

Europris ASA will publish its first quarter 2024 results on Thursday, 25 April
at 07:00 CEST. The quarterly report, presentation materials and spreadsheet with
key figures will also be available on the company’s website
…

Vis børsmeldingen

https://investor.europris.no.

CEO Espen Eldal and CFO Stina C Byre will present the company’s results at 08:30
CEST at Arctic Securities office, Haakon VII’s gt. 5 in Oslo. You can choose to
attend virtual or in person - please register by e-mail to
https://forms.office.com/e/udnaarbqSB.

The presentation will be held in English and transferred via live webcast and
will be made available through the company’s website
https://investor.europris.no. It will be possible to ask questions via the web.

For further information please contact:
Trine Engløkken
Investor Relations
Telephone: +47 940 50 937
E-mail: ir@europris.no

Europris is Norway’s largest discount variety retailer by sales. The group
offers its customers a broad range of quality owned brands and brand name
merchandise. Its merchandise is sold through the Europris chain, which consists
of a network of 282 stores throughout Norway. Of these, 258 are directly owned
by the group and 24 operate as franchise stores. In addition, Europris is full
or partial owner of the e-commerce companies Lekekassen, Strikkemekka,
Designhandel and Lunehjem. The group’s head office is located in Fredrikstad,
Norway.

This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Kilde

TekBot · april 25, 2024, 5:00am

Record Easter sales and campaign sales traction in a price-conscious market

Europris is satisfied with the sales development in the first quarter and
delivered growth which was above the market. Footfall to stores increased and
sales in the weeks leading up to the Easter holiday have never been higher.
…

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Norwegian consumers have remained cautious in an inflationary economy with high
interest rates and negative real wage development. Europris has proven to be a
relevant concept in this climate, with low prices combined with strong campaigns
and its seasonal profile. The group has received all seasonal goods and is ready
for the important upcoming spring and summer season.

The group delivered earnings below last year for the first quarter, as the high
opex growth offset the sales increase. During the past years, the opex growth
has been below market inflation due to realisation of savings from the new
warehouse in Moss and hedging of electricity cost at very attractive levels.

Highlights for the first quarter of 2024:

· Group sales of NOK 2,026 million, up 4.8 per cent
· Total chain sales up by 6.3 per cent and like-for-like sales up 5.0 per
cent
· Playing the season - solid Easter sales
· Relevant concept - strong campaign sales with focus on consumables

· Gross margin of 43.3 per cent (43.5 per cent)
· Higher positive unrealised gain from currency hedging had a positive year
-on-year effect of 0.7 percentage points
· Negative margin impact from changes to product mix, increased campaign
sales and higher input costs

· Opex-to-sales ratio of 29.5 per cent (27.4 per cent)
· Overall inflation effects and higher electricity costs

· Lower earnings reflecting higher opex
· EBITDA of NOK 281 million (NOK 311 million) and EBITDA margin of 13.9 per
cent (16.1 per cent)
· EBIT of NOK 107 million (NOK 145 million) and EBIT margin of 5.3 per cent
(7.5 per cent)
· Net profit of NOK 47 million (NOK 71 million) attributable to parent

· Strengthened financial position with a reduction in net debt to NOK 841
million (NOK 1,430 million)
· Exercised option to acquire remaining 80 per cent of ÖoB for a final
purchase price of NOK 200.5 million

“We’re pleased with another solid sales quarter including best-ever Easter
sales. Campaign sales continue to drive growth - especially products from the
front page of the marketing leaflet, and people continue to appreciate Europris’
private labels”, comments CEO Espen Eldal.

“This development continues to mirror cautious and price-conscious consumers -
and Europris is once again demonstrating the relevance of its concept with
strong campaigns and low prices on products people need in their everyday
lives”.

Group sales amounted to NOK 2,026 million in the first quarter, an increase of
4.8 per cent. The Europris chain had total sales growth of 6.3 per cent and like
-for-like growth of 5.0 per cent. The quarter had two fewer sales days than the
year before, while the timing of Easter had a positive effect on the sales
development.

Gross profit came to NOK 878 million (NOK 840 million), with a gross margin of
43.3 per cent (43.5 per cent). The group recognised a net unrealised gain of NOK
19 million on hedging contracts and accounts payable, compared with a gain of
NOK 5 million in the same quarter of last year, generating a positive effect of
0.7 percentage points on the margin change. This was offset by a negative margin
impact from changes to the product mix with a higher share of consumables,
increased share of campaign sales especially from the front page of the
marketing leaflet, and higher input costs mainly reflecting the weaker NOK.

Operating expenditure (Opex) was NOK 597 million in the first quarter (NOK 529
million), up by 13 per cent. This reflected an increase from 253 to 258 directly
operated stores, the overall negative impact of inflation and wage growth, and
the timing of some costs which will have a higher growth rate in the first half
of this year compared to the second half. The group hedges electricity costs,
and although this has over time yielded large savings compared to market prices,
this led to a cost increase year-over-year. The opex ratio increased to 29.5 per
cent (27.4 per cent).

Strengthened financial position with a reduction in net debt to NOK 841 million
(NOK 1,430 million) and cash and liquidity reserves of NOK 1,719 million (NOK
1,092 million).

Outlook

Consumer spending is expected to remain cautious, particularly in the first half
of the year, with interest rates, inflation, and real wages remaining key for
consumers’ ability and willingness to spend.

The tough market conditions represent an opportunity for Europris, with a well
-recognised low-price concept, strong campaigns, and a broad and relevant
product offering. The group will continue to concentrate its attention on
everyday consumables and affordable seasonal products while remaining optimistic
that customers will find their way to Europris in search of relevant, good
-quality, and attractively priced seasonal products for spring and summer.

Shipping transport from Asia is still being routed around the Cape of Good Hope
due to the situation in the Red Sea. Europris has not experienced difficulties
in obtaining capacity and receiving goods and is ready for the important
upcoming spring and summer seasons.

Opex will be closely monitored, however growth is expected to be around 10 per
cent for the financial year of 2024. Last year, the group was able to postpone
some inflationary effects, which will impact this year.

The group is looking forward to the final closing of the ÖoB transaction and to
getting started on the integration. The board and management of Europris are
confident that a growth journey with a Nordic expansion will create significant
shareholder value in the years to come.

Practical details:

The quarterly report, presentation materials and spreadsheet with key figures
will also be available on the company’s website https://investor.europris.no.

CEO Espen Eldal and CFO Stina C Byre will present the group’s results at 08:30
CEST at Arctic Securities office, Haakon VII’s gt. 5 in Oslo. The presentation
will be held in English and transferred via live webcast and will be made
available through the company’s website at https://investor.europris.no. It will
be possible to ask questions via the web.

For further information please contact:

Espen Eldal, CEO, +47 48 29 24 24, espen.eldal@europris.no
Stina C Byre, CFO, +47 41 10 58 08, stina.byre@europris.no

About Europris:

Europris is Norway’s largest discount variety retailer by sales. The group
offers its customers a broad range of quality owned brands and brand name
merchandise. Its merchandise is sold through the Europris chain, which consists
of a network of 282 stores throughout Norway. Of these, 258 are directly owned
by the group and 24 operate as franchise stores. In addition, Europris is full
or partial owner of the e-commerce companies Lekekassen, Lunehjem, Strikkemekka
and Designhandel. The group’s head office is located in Fredrikstad, Norway.

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 Trine Engløkken, head of
investor relations at Europris ASA, on 25 April 2024 at 07:00 CEST.

Kilde

E24Bot · april 25, 2024, 5:43am

Europris tjente 62,7 millioner kroner før skatt

E24Bot · april 25, 2024, 6:00am

Resultatfall: Europris tjente 62,7 millioner kroner før skatt

TekBot · april 26, 2024, 2:42pm

Europris ASA: Mandatory notification of trade

Europris ASA (EPR) has been notified that the following transaction has been
completed today, 26 April 2024, by a primary insider in Europris ASA.

…

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AS Master Trading has today bought 7,232 shares in Europris ASA for an average
price of NOK 68.7039 per share. AS Master Trading is closely associated with Jon
Martin Klafstad, director and primary insider in Europris ASA.

After the purchase, Jon Martin Klafstad owns 13,982 shares in Europris ASA.

Please refer to the attached notification of trading for further details.

For further information, please contact:
Trine Engløkken
Investor Relations
Telephone: +47 940 50 937

This information is subject to disclosure requirements set out in the Market
Abuse Regulation EU 596/2014 Article 19 and the Norwegian Securities Trading Act
Section 5-12.

Kilde

TekBot · april 30, 2024, 2:22pm

Europris ASA: Minutes from the annual general meeting

TekBot · mai 2, 2024, 6:00am

Europris ASA: Ex dividend NOK 3.25 today

TekBot · mai 2, 2024, 3:07pm

Europris has closed and settled the acquisition of the remaining 80 per cent of Runsvengruppen/ÖoB

Fredrikstad, 2 May 2024: Reference is made to Europris ASA’s stock exchange
notice of 21 March 2024, notifying about Europris’ entry into a share purchase
agreement to acquire the remaining 80 per cent of Runsvengruppen AB from RuNor
…

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AS.

The transaction was closed and settled today. Europris has transferred 2,579,678
Europris shares held in treasury to RuNor AS, as payment for the remaining
shares of Runsvengruppen AB, which now has become a wholly owned subsidiary of
Europris.

The transferred Europris shares will be subject to a customary 12-month lock-up.
The lock-up for the initial consideration shares delivered in 2019 is no longer
in force (the remaining balance of the initial consideration shares is 1,449,898
shares).

The NOK 13 million cash component of the purchase price was netted towards
outstanding payments from the seller of awarded costs under the arbitration
award of 19 December 2023, leaving a net NOK 0.2 million being paid by Europris
to RuNor AS today.

Europris will provide the market with more information about operational plans
for ÖoB at a later stage.

For further inquiries, please contact:
CEO Espen Eldal, Europris, espen.eldal@europris.no, +47 48 29 24 24
CFO Stina Charlene Byre, Europris, stina.byre@europris.no, +47 41 10 58 08

Kilde

TekBot · mai 21, 2024, 1:37pm

Europris ASA: Share programme 2024 for primary insiders completed

21 May 2024: Europris ASA has carried out the long-term incentive programme for
2024 covering restricted shares. The restricted share programme provides
participants the opportunity to annually purchase shares with a three-year lock
…

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-in period for an amount limited to a maximum of NOK 500,000. The value
reduction of the shares from the lock-in period was 14 per cent. This was
calculated by an independent firm based on Black & Scholes methodology. The
market price for the shares was NOK 69.39 per share, which corresponds to the
ten-day volume-weighted average price of Europris’ share for the period 2 to 16
May 2024. The price per share after the value reduction (the purchase price) was
NOK 59.67.

The following executives discharging managerial responsibilities in Europris ASA
have on 21 May 2024 acquired shares in Europris in connection with the long-term
incentive programme.

Name / Position / Acquired shares / Updated total shareholding:
Knipen Invest AS, Espen Eldal / CEO / 8,378 shares / 629,098 shares
Stina Charlene Byre / CFO / 5,865 shares / 28,271 shares
Eketoppen Holding AS, Jon Boye Borgersen / VP commercial / 4,189 shares /
120,856 shares
Spæren Invest AS, Knut Spæren / VP international sourcing / 4,189 shares /
151,181 shares

Europris sold a total of 22,621 own shares in connection with the programme.
Following the transactions, Europris holds 3,319,636 own shares.

For further inquiries, please contact:

Stina Charlene Byre, CFO, stina.byre@europris.no, +47 41 10 58 08
Trine Engløkken, Investor Relations, trine.englokken@europris.no, +47 94 05 09
37

This information is subject to disclosure requirements set out in the Market
Abuse Regulation EU 596/2014 Article 19 and the Norwegian Securities Trading Act
Section 5-12.

Kilde

TekBot · juni 18, 2024, 6:33am

Financial calendar

steeler77 · juni 25, 2024, 2:27pm

EUROPRIS: Pareto øker kursmålet til NOK 82 (80), gjentar kjøp.

TekBot · juli 2, 2024, 7:05am

Europris ASA Q2 2024: Invitation to presentation of second quarter 2024 results

Europris ASA will publish its second quarter 2024 results on Thursday, 11 July
at 07:00 CEST. The quarterly report, presentation materials and spreadsheet with
key figures will also be available on the company’s website
…

Vis børsmeldingen

https://investor.europris.no.

CEO Espen Eldal, CFO Stina C Byre and VP strategic projects André Sjåsæt will
present the company’s results at 08:30 CEST at DNB Markets’ office, Dronning
Eufemias gate 30 in Oslo. We welcome you to attend physically - if so, please
register by e-mail to ir@europris.no.

The presentation will be held in English and transferred via live webcast and
will be made available through the company’s website
https://investor.europris.no. It will be possible to ask questions via the web.

For further information please contact:
Trine Engløkken
Investor Relations
Telephone: +47 940 50 937
E-mail: ir@europris.no

Europris is Norway’s largest discount variety retailer by sales. The group
offers its customers a broad range of quality owned brands and brand name
merchandise. Its merchandise is sold through the Europris chain, which consists
of a network of 282 stores throughout Norway. Of these, 259 are directly owned
by the group and 23 operate as franchise stores. In May 2024, the group took
full ownership of the Swedish discount variety retailer ÖoB, which consists of a
network of 94 stores in Sweden. In addition, Europris is full or partial owner
of the e-commerce companies Lekekassen, Strikkemekka, Designhandel and Lunehjem.
The group’s head office is located in Fredrikstad, Norway.

This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Kilde

TekBot · juli 11, 2024, 5:02am

Transformation programme set to unlock ÖoB potential and boost growth

Europris finalised the acquisition of Runsvengruppen (ÖoB) in the second quarter
and created a Nordic discount variety retail group with a combined turnover last
twelve months of NOK 13.5 billion.
…

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After closing the acquisition, Europris has mobilised a transformation and
integration programme to realise synergies across the value chain and to unlock
the inherent potential in ÖoB. Europris believes the main value drivers for ÖoB
will be a revival of top-line growth and an improvement of the gross margin for
the existing store portfolio.

Highlights for the second quarter of 2024:

· Closed the ÖoB transaction in Sweden on 2 May, acquiring remaining 80 per
cent for a final purchase price of NOK 200.5 million

· ÖoB included with revenue of NOK 728 million, gross margin of 32.4 per cent
and negative EBIT of NOK 16 million

· Group sales of NOK 3,109 million, up 34.6 per cent

· Organic (excluding the acquisition of Runsvengruppen (ÖoB)) sales growth of
3 per cent

· Overall good sales development in Norway but negative impact from timing of
Easter and lower sales of high-ticket seasonal items

· Gross margin of 41.9 per cent (44.5 per cent)

· Organic gross margin of 44.7 per cent, up 0.2 percentage points

· Opex-to-sales ratio of 23.6 per cent (21.5 per cent)

· Organic opex-to-sales ratio of 22.7 per cent, up 1.2 percentage points

· EBIT of NOK 339 million (NOK 362 million) and EBIT margin of 10.9 per cent
(15.7 per cent)

· Organic EBIT of NOK 354 million and organic EBIT margin of 14.9 per cent

· Net profit of NOK 266 million (NOK 260 million) attributable to parent

· Positive impact from fair value adjustment of the ÖoB option of NOK 32
million and remeasurement of the initial 20 per cent stake of NOK 17 million

· Negative impact from interest rate swaps of NOK 1 million this year vs
positive at NOK 22 million last year

“In May we reached an important strategic milestone on the path to creating a
Nordic champion in discount variety retail, with Europris and ÖoB as leading
brands with similar concepts in Norway and Sweden. We have initiated an
ambitious programme to unlock the ÖoB potential, and I’m pleased to say that the
work to integrate ÖoB has gotten off to a good start”, comments CEO Espen Eldal.

Total operating income amounted to NOK 3,109 million in the second quarter (NOK
2,310 million), up 34.6 per cent year-on-year. Organic sales, excluding the
acquisition of ÖoB, increased by 3 per cent, and the Europris chain had like-for
-like growth of 1.1 per cent. The quarter had two more sales days than the same
period of last year, but the timing of Easter and lower sales of higher-ticket
seasonal items affected sales negatively compared to the same period last year.

Gross profit amounted to NOK 1,302 million (NOK 1,028 million), with a gross
margin of 41.9 per cent (44.5 per cent). Organic gross margin was 44.7 per cent,
up by 0.2 percentage points. The group recognised a net unrealised loss of NOK
17 million on hedging contracts and accounts payable, compared to a loss of NOK
8 million in the same period last year - impacting the gross margin change
negatively by 0.2 percentage points.

Operating expenditure (Opex) was NOK 735 million (NOK 497 million). Organic opex
was NOK 540 million, up 8.6 per cent, reflecting an increase from 255 to 259
directly operated stores and an overall negative impact from inflation and wage
growth. The opex ratio increased to 23.6 per cent (21.5 per cent), with the
organic opex ratio at 22.7 per cent.

EBIT amounted to NOK 339 million (NOK 362 million). The organic EBIT was NOK 354
million, a decline of NOK 8 million or 2.2 per cent. The EBIT margin was 10.9
per cent (15.7 per cent), while the organic EBIT margin was 14.9 per cent.

Net debt amounted to NOK 5,097 million at 30 June 2024 (NOK 4,251 million).
Adjusted for lease liabilities, net debt was NOK 1,520 million (NOK 1,617
million). Cash and liquidity reserves for the group amounted to NOK 1,441
million at 30 June 2024 (NOK 1,005 million).

Outlook

Europris is well positioned as a recognised market leader in Norway, and with
the acquisition of ÖoB the group has taken an important step towards becoming a
leading player in the Nordic discount variety retail market.

ÖoB has built a solid brand and a strong price position with Swedish consumers
over many years. However, the company has shown a flat revenue development and
declining margins over the past five years, and a turnaround is required to
gradually unlock the value potential over the years to come.

Europris has identified considerable potential to increase both sales and
profitability, by harmonising concepts and product ranges and improving the
customer experience, through joint sourcing, and by sharing best practise for
operations and business development. The ambition is to grow annual sales for
the existing store portfolio in ÖoB by SEK 1 billion to SEK 5 billion by the end
of 2028, and to restore profitability to an ÖoB EBIT-margin level of 5 per cent.
Within the same time frame, Europris also expects to realise purchasing
synergies in the range of NOK 20-40 million benefiting the Norwegian operations.

Shipping transport from Asia is still being routed around the Cape of Good Hope
due to the situation in the Red Sea. This is creating capacity constraints due
to a lack of containers and higher war surcharges. The group is taking measures
to mitigate negative effects to the extent possible.

Practical details:

The quarterly report, presentation materials and spreadsheet with key figures
will also be available on the company’s website https://investor.europris.no.

CEO Espen Eldal, CFO Stina C Byre and VP strategic projects André Sjåsæt will
present the group’s results at 08:30 CEST at DNB Markets’ office, Dronning
Eufemias gate 30 in Oslo. The presentation will be held in English and
transferred via live webcast and will be made available through the company’s
website at https://investor.europris.no. It will be possible to ask questions
via the web.

For further information please contact:

Espen Eldal, CEO, +47 48 29 24 24, espen.eldal@europris.no
Stina C Byre, CFO, +47 41 10 58 08, stina.byre@europris.no

About Europris:

Europris is Norway’s largest discount variety retailer by sales. The group
offers its customers a broad range of quality owned brands and brand name
merchandise. Its merchandise is sold through the Europris chain, which consists
of a network of 282 stores throughout Norway. Of these, 259 are directly owned
by the group and 23 operate as franchise stores. In May 2024, the group took
full ownership of the Swedish discount variety retailer ÖoB, which consists of a
network of 94 stores in Sweden. In addition, Europris is full or partial owner
of the e-commerce companies Lekekassen, Strikkemekka, Designhandel and Lunehjem.
The group’s head office is located in Fredrikstad, Norway.

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 Trine Engløkken, head of
investor relations at Europris ASA, on 11 July 2024 at 07:00 CEST.

Kilde

E24Bot · juli 11, 2024, 5:55am

Kraftig vekst for Europris etter oppkjøp

TekBot · juli 11, 2024, 4:18pm

Europris ASA: Mandatory notification of trade

Europris ASA (EPR) has been notified that the following transaction has been
completed on 11 July 2024, by a primary insider in Europris ASA.

…

Vis børsmeldingen

Nordkronen II AS has today sold 145,000 shares in Europris ASA for an average
price of NOK 73.68 per share. Nordkronen II AS is closely associated with Pål
Wibe, director and primary insider in Europris ASA.

After the purchase, Pål Wibe (Nordkronen II AS) holds 143,572 shares in Europris
ASA.

Please refer to the attached notification of trading for further details.

For further information, please contact:

Trine Engløkken
Investor Relations
Telephone: +47 940 50 937

This information is subject to disclosure requirements set out in the Market
Abuse Regulation EU 596/2014 Article 19 and the Norwegian Securities Trading Act
Section 5-12.

Kilde

TekBot · september 3, 2024, 6:45am

Flagging

TekBot · oktober 15, 2024, 6:34am

Flaggemelding

TekBot · oktober 15, 2024, 1:07pm

Europris ASA Q3 2024: Invitation to presentation of third quarter 2024 results

Europris ASA will publish its third quarter 2024 results on Thursday, 31 October
at 07:00 CET. The quarterly report, presentation materials and spreadsheet with
key figures will also be available on the company’s website
…

Vis børsmeldingen

https://investor.europris.no.

CEO Espen Eldal and CFO Stina C Byre will present the company’s results at 08:30
CET at ABG Sundal Collier office, Ruseløkkveien 26, 8th floor in Oslo. We
welcome you to attend physically - if so, please register by e-mail to
ir@europris.no.

The presentation will be held in English and transferred via live webcast and
will be made available through the company’s website
https://investor.europris.no. It will be possible to ask questions via the web.

For further information please contact:
Trine Engløkken
Investor Relations
Telephone: +47 940 50 937
E-mail: ir@europris.no

Europris is Norway’s largest discount variety retailer by sales. The group
offers its customers a broad range of quality owned brands and brand name
merchandise. Its merchandise is sold through the Europris chain, which consists
of a network of 282 stores throughout Norway. Of these, 259 are directly owned
by the group and 23 operate as franchise stores. In May 2024, the group took
full ownership of the Swedish discount variety retailer ÖoB, which consists of a
network of 94 stores in Sweden. In addition, Europris is full or partial owner
of the e-commerce companies Lekekassen, Strikkemekka, Designhandel and Lunehjem.
The group’s head office is located in Fredrikstad, Norway.

This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Kilde

TekBot · oktober 30, 2024, 4:30pm

Europris ASA: Resignation of director

Fredrikstad, 30 October 2024

Mr. Claus Juel-Jensen has given the board of Europris ASA the notice that he
…

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will resign as director from today. Mr. Juel-Jensen regrets this, but
unfortunately he has to prioritise other engagements.

“I would like to thank you all for an educational time on the board and for
being part of the successful growth story of Europris. I’m sure that the group
will experience continued success, especially with the acquisition of ÖoB in
Sweden and I’m looking forward to following this in the years to come,” says Mr.
Juel-Jensen.

“I would like to thank Claus for his commitment and valuable contributions over
several years, both on the board and the audit committee. I wish him all the
best for the future,” says chair of the board, Mr. Tom Vidar Rygh.

For further questions, please contact:

Espen Eldal, CEO, +47 48 29 24 24

Trine Engløkken, Head of IR, +47 94 05 09 37

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Kilde

TekBot · oktober 31, 2024, 6:02am

Steady growth for Europris and ÖoB integration proceeding according to plan

The group had higher sales with an organic sales growth of 4.4 per cent in the
third quarter. In an economy posing challenges to many consumers, the group is
pleased to have witnessed higher footfall as customers continued to value
…

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Europris’ attractive campaigns, and its broad and relevant product range offered
at low prices. The main sales growth drivers were campaigns and consumables
while higher costs for inbound freight and the impact from a continued weak
Norwegian krone put pressure on the gross margin. Europris delivered a lower
cost increase than previously anticipated for the quarter as the group remains
highly attentive to its operating costs.

The transformation of ÖoB and the integration process with Europris progressed
according to plan. Like-for-like sales and footfall in ÖoB were flat in the
third quarter, which was an improvement from the development in the first half
of the year. A revival of top-line growth and an improvement of the gross margin
for the existing store portfolio are the main value drivers for ÖoB going
forward.

Financial highlights for the third quarter 2024:
Please note that financials for the new segment Sweden have been included with
effect from 1 May 2024. Comparisons on an organic level exclude the acquisition
of ÖoB, meaning that organic figures this year are comparable to last year’s
group figures.

· Group sales of NOK 3,238 million, up 50.4 per cent
· Sales growth of 4.4 per cent excluding the acquisition of ÖoB (organic)

· Gross margin of 39.7 per cent (45.3 per cent)
· Organic gross margin of 43.7 per cent (45.3 per cent)

· Opex-to-sales ratio of 26.5 per cent (26.5 per cent)
· Organic opex-to-sales ratio of 26.6 per cent (26.5 per cent)

· EBIT of NOK 168 million (NOK 234 million) and EBIT margin of 5.2 per cent
(10.9 per cent)
· Organic EBIT of NOK 212 million (NOK 234 million) and organic EBIT margin
of 9.5 per cent (10.9 per cent)

· Net profit of NOK 84 million (NOK 144 million) attributable to parent
· Negative EBIT from ÖoB of NOK 45 million
· Negative impact from interest rate swaps of NOK 12 million this year
compared to a positive impact of NOK 2 million last year

"As we navigate in a tough retail environment, we’re confident that Europris is
well-positioned for long-term growth and value creation. Integrating ÖoB into
our operations represents a significant opportunity for us to expand our
footprint in the Nordic market. While the turnaround in ÖoB will take time,
we’re taking deliberate steps to modernise stores, improve the product mix, and
drive operational efficiencies.

Our core business remains robust and as inflation slows down and consumer
confidence strengthens, we’re optimistic about our mid-term growth prospects.
Our commitment to delivering long-term shareholder value remains unwavering, and
we look forward to realising the full potential of Europris with ÖoB onboard",
comments CEO Espen Eldal.

Total operating income amounted to NOK 3,238 million in the third quarter (NOK
2,152 million), up 50.4 per cent year-on-year. Organic sales, excluding the
acquisition of ÖoB, increased by 4.4 per cent.

Gross profit amounted to NOK 1,286 million (NOK 975 million), with a gross
margin of 39.7 per cent (45.3 per cent). Organic gross margin was 43.7 per cent,
down 1.6 percentage points. The group recognised a net unrealised loss of NOK 7
million on hedging contracts and accounts payable, compared to a net unrealised
gain of NOK 2 million in the same period last year - impacting the gross margin
change negatively by 0.3 percentage points.

Operating expenditure (Opex) was NOK 859 million (NOK 571 million). Organic opex
was NOK 597 million, up 4.6 per cent, partly explained by the increase from 255
to 259 directly operated stores. The opex-to-sales ratio was 26.5 per cent (26.5
per cent), with an organic opex-to-sales ratio of 26.6 per cent.

EBIT amounted to NOK 168 million (NOK 234 million). The organic EBIT was NOK 212
million, a decline of NOK 22 million or 9.3 per cent. The EBIT margin was 5.2
per cent (10.9 per cent), while the organic EBIT margin was 9.5 per cent.

Net debt amounted to NOK 5,091 million at 30 September 2024 (NOK 3,852 million).
Adjusted for lease liabilities, net debt was NOK 1,614 million (NOK 1,256
million). Cash and liquidity reserves for the group amounted to NOK 1,360
million at 30 September 2024 (NOK 1,363 million).

Outlook

Many consumers are in a tough financial situation after a longer period with
high inflation and higher interest rates and have become more price conscious
and cautious about their spending. Europris sees this trend being reflected in
an increasing share of sales from campaigns and a higher share of sales from
consumables, while consumers are holding back on investment purchases. Campaigns
and consumables help drive sales, but these trends also put pressure on the
gross margin.

Inflation is now coming down in both Sweden and Norway. Interest rates have
already been lowered in Sweden, and the Norwegian central bank expects to reduce
rates during 2025. In combination with higher wage increases, this offers an
improving outlook for the consumer sentiment in both countries, although it will
likely take some time until higher purchasing power translates into higher sales
volumes. Both Europris and ÖoB are well positioned and their relevant concepts
continue to attract customers in these market conditions.

The group is looking forward to the important upcoming Christmas season and has
secured sufficient inventory of seasonal items.

Europris has started the process to turn around ÖoB and is progressing according
to plan. While it will take time to harmonise categories and product range and
improve the customer experience, the group is confident in its long-term
ambitions for ÖoB to reach a top line of SEK 5 billion by the end of 2028 and an
EBIT margin of 5 per cent for the existing store portfolio.

Practical details:

The quarterly report, presentation materials and spreadsheet with key figures
will also be available on the website https://investor.europris.no.

CEO Espen Eldal and CFO Stina C Byre will present the group’s results at 08:30
CET at ABG Sundal Collier’s, Ruseløkkveien 26, 8th floor in Oslo. The
presentation will be held in English and transferred via live webcast and will
be made available through the website at https://investor.europris.no. It will
be possible to ask questions via the web.

For further information please contact:

Espen Eldal, CEO, +47 48 29 24 24, espen.eldal@europris.no

Stina C Byre, CFO, +47 41 10 58 08, stina.byre@europris.no

About Europris:

Europris is Norway’s largest discount variety retailer by sales. The group
offers its customers a broad range of quality owned brands and brand name
merchandise. Its merchandise is sold through the Europris chain, which consists
of a network of 282 stores throughout Norway. Of these, 259 are directly owned
by the group and 23 operate as franchise stores. In May 2024, the group took
full ownership of the Swedish discount variety retailer ÖoB, which consists of a
network of 94 stores in Sweden. In addition, Europris is full or partial owner
of the e-commerce companies Lekekassen, Strikkemekka, Designhandel and Lunehjem.
The group’s head office is located in Fredrikstad, Norway.

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 Trine Engløkken, head of
investor relations at Europris ASA, on 31 October 2024 at 07:00 CET.

Kilde