Komplett ASA

Report Publication Announcement • Mar 23, 2023

Komplett ASA: Annual and sustainability report for 2022

Komplett ASA: Annual and sustainability report for 2022

Sandefjord, 23 March 2023: The board of directors of Komplett ASA has approved

the annual accounts for 2022, and the annual report has been published today.

In 2022, the group succeeded in strengthening its market position through the

combination with NetOnNet, where synergy realisation is progressing as planned.

Financial performance for the year was impacted by challenging market conditions

for online retail across the Nordics. Revenue for the year came in at NOK 14.6

billion, corresponding to a 32.4 per cent growth from the year before, driven by

the acquisition of NetOnNet. Adjusted EBIT came in at NOK 87 million, compared

with NOK 388 million one year earlier.

Even in a challenging market environment, the group maintained its industry

-leading cost position, secured new financing facilities and successfully

reduced excess inventory.

"In 2022, the retail industry experienced the effects of overfilled warehouses

and corresponding price pressure across the industry. Komplett acted swiftly in

response to the inventory build-up and successfully reduced its inventory by NOK

600 million during the year. As we neared the end of the year, our inventory

position was healthy, and the gross margins have started to recover. Going

forward, we will continue to build on the strong market position that Komplett

has in Norway and Sweden as well as realising the potential that lies in the

acquisition of NetOnNet," says Komplett ASA CEO Jaan Ivar Semlitsch.

In 2022, Komplett conducted a group-wide materiality assessment which reaffirmed

that circularity, tolerance, and environment should remain our top priorities

across all our companies.

"We made significant progress in promoting circular business practices in 2022.

We also improved our efforts to promote diversity and improved the data quality

in our climate accounting. Looking ahead, we remain committed to our ESG goals

and will increase our efforts to reduce our climate footprint. In sum, the group

is well-placed to continue building on its strong market position and is

entering 2023 in a much stronger position than when it entered 2022," says

Semlitsch.

The annual and sustainability report is attached to this notice. In addition,

the company has published its annual financial statements in European Single

Electronic Format (ESEF). This document is also attached to this notice.

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.