Operating revenue increased by 3.8 per cent in the first quarter of 2025, from NOK 3 245 million to NOK 3 370 million (+2.5 per cent in constant currency). The progress was supported by more positive market dynamics, in both Norway and in Sweden.

The gross margin reached 15.0 per cent in the first quarter, reflecting a stable development from 15.0 per cent in the same period of 2024. The margin performance was impacted by commercial initiatives, positive mix effects, and margin management, which were partly offset by a continued competitive market.

Operating expenses increased by 2.4 per cent (+0.7 per cent in constant currency), as the ongoing measures were offset by general cost inflation, commercial expansion measures and select marketing investments. The cost and restructuring measures are proceeding as planned, and the positive effects are expected to increase gradually into 2025.

EBIT adj. amounted to negative NOK 39 million in the first quarter of 2025 and remained stable compared with negative NOK 40 million in the same period of 2024.

At the end of March, the group's leverage ratio, defined as NIBD / LTM EBITDA (adjusted for certain exceptional items), was 3.4x. Net debt levels were supported by continued solid liquidity at the end of the quarter, primarily driven by better payment terms. The measured leverage remains well below the covenant levels previously agreed with the group's financing partners for H1 2025.

The group is seeing positive results from its strategic initiatives, with the benefits of new cost-saving measures expected to increase throughout 2025 supported by more positive innovation cycles.

Over the past months, global uncertainty has increased substantially. This has already led to a more cautious consumer sentiment, while the potential impact from these geopolitical shifts on the overall trading environment has become increasingly hard to predict.

"The first quarter of 2025 showed signs of market improvement and a more positive outlook, though consumer sentiment remained cautious across our key markets in Norway and Sweden. Significant cost saving measures were carried out during the quarter along with strategic commercial initiatives, in line with our long-term ambitions." says Jaan Ivar Semlitsch, President and CEO of Komplett ASA.

"Looking ahead, we will continue our efforts to leverage our scalable and efficient platform while implementing further cost measures across the group. In addition, we expect positive effects from many new launches within several categories with good availability in Q2 and beyond," Semlitsch adds.

The presentation material and report for the first 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/20250430_4/

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.