Europris has once again proved to be a relevant shopping destination, with
higher sales and increased footfall to stores in the third quarter. The group
has actively taken advantage of the flexibility in the concept and has continued
to take market share.

Highlights for the third quarter 2023:

  · Total sales of NOK 2,152 million, up 5.0 per cent

  · Driven by attractive campaigns and a relevant product range at low prices
  · Like-for-like sales growth of 3.8 per cent for the Europris chain

  · Gross margin of 45.3 per cent (47.6 per cent)

  · Gross margin declined, although remaining above pre-pandemic levels as
expected
  · Change in product mix and increased campaign sales
  · Negative effect of 0.4 percentage points on the margin change because of
lower unrealised gains from currency hedging this year

  · Opex-to-sales ratio declined to 26.5 per cent (26.8 per cent)

  · Moderate Opex increase of 3.7 per cent

  · Earnings development mainly reflected the decline in gross margin

  · EBITDA of NOK 404 million (425 million) and EBITDA margin of 18.8 per cent
(20.7 per cent)
  · EBIT of NOK 234 million (272 million) and EBIT margin of 10.9 per cent (13.2
per cent)
  · Net profit of NOK 144 million (NOK 187 million) attributable to parent
  · Earnings per share of NOK 0.89 (NOK 1.16)

  · Strong financial position, with cash and liquidity reserves of NOK 1,363
million (NOK 963 million)

  · Positive development in cash flow from improved inventory development

CEO Espen Eldal comments:

"I'm satisfied with our results for the third quarter. We saw an increase in
campaign sales, where our front-page campaigns did particularly well. Every day
is a struggle in this market, since consumers are more price aware. That is
evidenced by the growth in consumables and the fact that we sell more of our
own brands. However, we're dedicated to giving our customers value for money.
Our clear ambition is to continue to do better than the market through our
devoted employees and a rock-solid retail culture, our strong low-price
position, and flexible retail concept."

Group sales in the third quarter came to NOK 2,152 million, up by 5.0 per cent
from the corresponding period of 2022, and like-for-like sales for the Europris
chain increased by 3.8 per cent. Sales improved for almost all categories,
although the increase was higher for categories classified as consumables,
whereas seasonal items, as expected, saw a sales decline. The decline was
strongest for garden furniture, trampolines, inflatable pools, and other water
sports items, whereas cultivation and travel had higher sales. Despite lower
seasonal sales, the inventory is healthy, and both value and volume were lower
than compared to the same period last year.

Gross profit for the third quarter came to NOK 975 million (NOK 975 million),
with the gross margin declining to 45.3 per cent (47.6 per cent). The lower
gross margin reflects changes to the product mix, with higher sales growth for
consumables and for campaign sales. The group recognised a net unrealised gain
of NOK 2 million on hedging contracts and accounts payable (gain of NOK 11
million), which had a negative effect of 0.4 percentage points on the margin
change.

Operating expenditure (Opex) was NOK 571 million (NOK 550 million) in the third
quarter. The Opex-to-sales ratio declined to 26.5 per cent (26.8 per cent).

EBITDA for the third quarter was NOK 404 million (NOK 425 million) and the
EBITDA margin 18.8 per cent (20.7 per cent). EBIT was NOK 234 million (NOK 272
million), down by 13.8 per cent. The EBIT margin was 10.9 per cent (13.2 per
cent). Net profit attributable to owners of the parent amounted to NOK 144
million (NOK 187 million).

Cash and liquidity reserves for the group at 30 September 2023 amounted to NOK
1,363 million (NOK 963 million).

Outlook

Customers are paying greater attention to prices in the current economic
climate, and this is expected to continue since the pressure on household
finances is presumed to remain high for the foreseeable future. As people adapt
to an overall higher cost of living, Europris' low-price, campaign-driven retail
concept is highly relevant and the footfall to the group's stores is believed to
remain strong. Campaigns are an important driver for sales growth and higher
store footfall, since customers are actively seeking good offers and value for
money. The group will continue to adapt to the customer sentiment and take
advantage of the flexibility in the concept.

The board remains confident that Europris will continue to be an attractive
shopping destination and remain a relative winner in the retail market. The
group is well set for the time to come, with a healthy inventory and a solid
financial position.


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
CET at SpareBank 1 Markets office, Olav V's gate 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 281 stores throughout Norway. Of these, 256 are directly owned
by the group and 25 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 2 November 2023 at 07:00 CET.