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efficiency were accelerated. The group maintained its solid liquidity and showed
a good financial position, partly supported by positive phasing effects.
Operating revenue increased by 3.1 per cent in the fourth quarter of 2024, from
NOK 4 734 million to NOK 4 883 million, on the back of a solid black week and
peak execution. The sales growth was broadly based across product categories,
supported by receding headwinds in core gaming and computing segments and
commercial initiatives.
Gross margin performance remained relatively stable at 13.9 per cent,
corresponding to a year-over-year decline of 0.1 percentage points from 2023.
Positive mix effects and new commercial initiatives helped offset negative
factors, such as high campaign activity and required price investments in a
continued competitive environment.
Despite ongoing and accelerated cost measures, operating expenses increased by
4.3 per cent. The increase primarily reflects higher marketing spend from
promotional activity and proactive black week initiatives as well as a general
requirement for maintaining visibility during the peak seasons, as well as cost
inflation.
EBIT adj. amounted to NOK 77 million in the fourth quarter of 2024, compared
with NOK 91 million in the same period of 2023.
At the close of the quarter, the group’s leverage ratio, defined as NIBD / LTM
EBITDA (adjusted for certain exceptional items), equalled 2.5x, which represents
good headroom towards financial covenants. The net debt level at year-end was
positively affected by a temporarily high liquidity position which is expected
to seasonally adjust during Q1.
Looking ahead, the macroeconomic environment, as well as the pace of product
innovations and launches, are anticipated to gradually lead to increased demand,
but continued market and competitive uncertainties still require active cost
management. During 2024, the group has accelerated measures to reduce cost and
further actions to improve cost efficiency have been introduced after year-end.
“During 2024, Komplett Group has navigated very challenging market conditions
while advancing its stated strategy. Supported by a successful black week and
peak execution, the group managed to end this difficult year on a more positive
note which is reflected in sales growth, stable margins and a stronger market
position,” says Jaan Ivar Semlitsch, President and CEO of Komplett ASA.
“Despite continued market uncertainty, several key indicators are pointing
towards future growth in the retail space, including improved consumer
purchasing power. We are optimistic that the demand for our core categories will
rise with the release of new and exciting technologies,” Semlitsch adds.
The presentation material and report for the fourth quarter of 2024 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 CET 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:
Viewer Registration • Q4 2024
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.
Kilde
