Komplett ASA: An efficient and scalable platform for growth
Sandefjord, 29 February 2024: At its Capital Markets Day today, Komplett ASA will present its strategic plan and new financial targets. For the period 2026-2028, the group aims to outgrow the market and to be among the most profitable players in their industry.
"We will utilise our scale to drive commercial and cost advantages while maintaining strong brand autonomy. This provides us with an efficient and scalable platform for growth, while enabling a sustained cost leadership position," says Jaan Ivar Semlitsch, President and CEO of Komplett ASA.
The group’s operating model is based on independent, differentiated brands, with websites, shops and product offerings tailored to specific customer segments and needs. The strength of brand autonomy will be combined with selected shared functions and capabilities that provide scale benefits, in particular a central commercial team, a shared supply chain network and common tech, analytics and data platform.
For the period 2026-2028, the group has defined the following targets:
- Sales of at least NOK 18-20 billion
- EBIT margin of at least 3-4 per cent
- Cash conversion above 70 per cent
The group targets a balanced capital structure with a NIBD/EBITDA of 2-3x. Providing its shareholders with attractive returns through dividends and value appreciation remains a priority.
The group’s key levers of growth beyond the market include expansion into adjacent categories, such as home appliances and telecom, and further growth in core categories such as gaming and gaming-related products. Moreover, NetOnNet will continue its store expansion plan in line with their omni-channel business model. The group will also use its platform to expand its service and subscription offerings as well as growing the product portfolio and customer base in B2B and Distribution.
The targeted EBIT margin will be achieved by utilising scale to gain improved purchasing terms, operational leverage and cost measures to maintain an industry-leading cost position. The group also aims to capture positive mix effects from increasing the share of sales from private label and services, and from other higher-margin categories.
“Although markets are expected to remain challenging for a while still, we are positioned in a fundamentally attractive market supported by strong underlying drivers. With our online-first business model and presence in categories with short innovation and replacement cycles, we are exposed to the fastest growing sales channels and categories,” says Semlitsch.
Komplett Group has also updated its sustainability strategy and set clear ESG targets which encompasses the group’s commitment to offering circular products and services, reducing its climate and environmental impact, and continuing to be an inclusive and attractive employer. By 2028, circular products and services are to represent at least 15 per cent of the group’s revenues. Moreover, the group targets a reduction in scope 1 & 2 GHG emissions of 42 per cent by 2030, and to become net zero by 2040.
The presentation material from today’s event is attached to this notice.
Today’s event will start at 09:00 CET in the Auditorium in House of Oslo Conference Centre, Ruseløkkveien 34. The Capital Markets Day presentation and Q&A sessions can also be viewed as a live webcast here:
https://channel.royalcast.com/landingpage/hegnarmedia/20240229_1/
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.