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:

https://events.webcast.no/viewer-registration/qecwwevB/register

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.