Komplett ASA

Report Publication Announcement • Oct 27, 2021

Q3-21: Capitalizing on continued shift to online

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.