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Gross margins showed a clear increase compared to the previous year, while the
positive impact from cost and efficiency measures will increase into the second
half of the year.
Operating revenue increased by 0.4 per cent in the second quarter of 2025, from
NOK 3 418 million to NOK 3 431 million (-2.5 per cent in constant currency).
Markets developed positively in both Norway and Sweden, although the Swedish
operations were temporarily affected by volume rebalancing and consolidation of
the logistics and back-office set-up in the quarter.
The gross margin reached 14.6 per cent in the second quarter, representing a 1.6
pp uplift from the same period of 2024, resulting in a 12.3 per cent improvement
in gross profit (+8.3 per cent in constant currency). The margin performance
reflects a rebalanced campaign and price policy, a more normalised pricing
environment compared with last year, and positive mix effects generated by
tactical and strategic measures.
Adjusted operating expenses, being amplified by currency effects, increased by
7.2 per cent (+3.5 per cent in constant currency) in the period. The underlying
real increase reflected commercial expansion measures and selected marketing
investments, as well as general cost inflation.
EBIT adj. amounted to negative NOK 22 million in the second quarter of 2025,
representing a modest improvement from negative NOK 38 million in the same
period of 2024.
The restructuring measures in Norway and consolidation processes in Sweden
involved one-off costs totalling NOK 29 million in the quarter. The positive
effects from the group’s commercial and cost initiatives are expected to
gradually increase into the second half of 2025, along with further cost and
optimisation measures being launched in the third quarter.
At the end of June, the group’s leverage ratio, defined as NIBD / LTM EBITDA
(adjusted for certain items), was 3.8x. The leverage remains in line with the
temporarily raised covenant levels previously agreed with the group’s financing
partners for Q2 2025.
In June, it was announced that Ros-Marie Grusén has been appointed new CEO of
Komplett Group, effective from 1 August 2025.
“In the second quarter of 2025, we continued to see an improved market
environment with positive impact from new product launches. Gross margins showed
a clear increase compared to the previous year, and our commercial initiatives
along with our cost savings measures are moving ahead as planned.” says Jaan
Ivar Semlitsch, President and CEO of Komplett ASA.
“Looking ahead, we expect continued positive impact from innovations coming
online, with larger volumes being released in the second half of the year.
Improving macroeconomic forecasts suggest a still positive market momentum,
although consumer sentiment is still characterised by cautiousness and
uncertainty,” Semlitsch adds.
The presentation material and report for the second 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/20250717_3/
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.
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