Q3-21: Capitalizing on continued shift to online
Sandefjord, 27 October 2021: The good growth momentum from the first half of the year continued for Komplett ASA (“Komplett”) in the third quarter. During the quarter, most Covid-related restrictions related to physical shopping were lifted in the Group’s markets, but online trade held up well. Komplett delivers marked progress in all business areas on top of strong comparable figures from last year.
In the third quarter, Komplett increased its revenues by 15 per cent from the same period last year, to NOK 2 715 million. Adjusted EBIT ended at NOK 83 million, corresponding to an increase of 33 per cent, driven by top line growth and scalability of existing infrastructure.
“Our progress is a result of solid market fundamentals supported by the migration to online shopping combined with strong commercial skills demonstrated by the Komplett organization,” says CEO Lars Olav Olaussen.
“In light of the ongoing supply chain constraints, we are especially pleased that we succeeded in growing our top line by 15 per cent year-on-year. This is a result of targeted efforts to secure stock and ensure timely deliveries and demonstrates our attractiveness as a partner to our key suppliers,” Lars Olav Olaussen adds.
The broad-based growth resulted in a 33 per cent improvement in adjusted EBIT, equalling an EBIT margin improvement from 2.6 per cent to 3.1 per cent.
“Good cost control and strong growth in sales volumes resulted in continued improvement in operating expenses. In the third quarter, operating costs landed at 9.7 per cent of revenues, down 0.9 percentage points from the same period in 2020, further strengthening our cost leadership position. This demonstrates the attractiveness of our scalable business model,” Lars Olav Olaussen adds.
Please find enclosed the interim report for the third quarter and the presentation material.
A presentation of the third quarter results will be held by CEO Lars Olav Olaussen and CFO Krister Pedersen 27 October 2021 at 08:00 CEST at Felix Conference Centre, Aker Brygge, Oslo. In addition to the physical presentation in Oslo, the event will be live streamed.
Please use the following link to register and view the webcast: https://events.webcast.no/viewer-registration/5vDe9OAl/register
You may also listen in to the presentation by phone using the following dial-in details:
Norway: +47 21 56 33 18
Sweden: +46 (0) 8 50520424
UK: +44 (0) 33 0551 0200
US: +1 212 999 6659
Please quote “Komplett Q3” when prompted by the operator.
Please join the call 5 minutes before the booked start time to allow the operator to transfer you into the call by the scheduled start time.
Questions to the speakers will be addressed towards the end of the presentation.
For further inquiries, please contact:
Kristin Hovland, Head of Communication
+47 98 65 28 60
Kristin.Hovland@komplett.com
Per Christian Brander, Head of Investor Relations
+47 40 63 63 49
PerChristian.Brander@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 efficiency and scalable business model that supports cost leadership and enables a competitive product offering.