Elektroimportøren AS — Earnings Release 2021

Nov 4, 2021

Q3 Reporting Elektroimportøren

Q3 Reporting Elektroimportøren

Highlights of the third quarter 2021

Elektroimportøren continues to grow in a more normalized market despite facing very strong sales figures last year.

Key financials;

• Revenue of 359.8 MNOK (334.6 MNOK) up 7.5%. Compared to Q3 in 2019 sales are up with 49.4%.

• B2B sales have increased with 21.6% compared to last year, while B2C sales had a decrease with 5.4%.B2B share of total sales in Q3 was 48.4% (42.2%).

• Total like for like sales growth 2.8% driven by -0.2% online and 3.3% physical stores.

• Sale of Electrical Vehicle chargers have continued to increase significantly compared to last year. Total sales Q3 with 40 MNOK (18 MNOK).

• The overall Gross margin percentage of 38.5% was down from 40.6% last year. Key drivers for reduced margin year on year are the significant sales increase of EV chargers and increased sale to B2B customers. In addition we had tougher marketing campaigns Q3 this year compared to last year.

• Opex to sales ratio 29.1% (29.3%). For Q3 this year we had a normalized operation with physical meetings and gatherings in contrast to last year. In addition, we increased marketing spend trying to increase footfall to our stores. Provision for year-end bonuses last year was higher than in Q3 this year, but year to date they are at the same level. In Q3 2019 cost ratio was 30.9% (last comparable quarter without covid-19 effects).

• Adjusted EBITDA of 34.0 MNOK (37.7 MNOK). Adjusted EBITDA margin percentage is 9.5% (11.3%)

• Net cash as of September 2021 is 76.7 MNOK (69.0 MNOK). In addition, we have an overdraft facility of 120 MNOK not utilized.

For the first three quarters of 2021 Elektroimportøren have a total sales growth of 18.9% and like-for-like growth of 12.3% in physical stores and 24.1% online. Adjusted EBITDA year to date of 106.4 MNOK, growing from 94.1 MNOK last year.

Q3 report and presentation is available at www.elektroimportoren.no/investor. You can also join us live on Teams at 09.00 hrs November 4th. Link is available at www.elektroimportoren/investor.no.

Link to Elektroimportøren Q3 Webcast

This information is published in accordance with the requirements of the Issuer Rules of Euronext Growth Oslo