Elektroimportøren AS — Earnings Release 2021

Aug 18, 2021

Q2 Reporting Elektroimportøren

Q2 Reporting Elektroimportøren

Highlights of the second quarter 2021

Elektroimportøren delivers significant growth despite facing tough comparable numbers from last year.

Key financials

• Revenue of 320,8 MNOK (271,9 MNOK) up 18,0%.

• Online share of total sales (excluding pick up in store) 13,9% (13,0%).

• B2B sales have increased with 49,0% compared to last year, while B2C sales had a decrease with 2,0%. B2B share of total sales have increased to 53,1% (42,6%).

• Total like for like sales growth 13,0% driven by 26,6% online and 10,9% physical stores.

• Sale of Electrical Vehicle chargers have continued to increase significantly compared to last year. Total sales Q2 with 34 MNOK (5,9 MNOK). Even though this is a profitable product category, the overall margin percentage is significantly lower compared to other product groups.

• The overall Gross margin percentage of 37,4% was down from 39,8% last year. The percentage margin for B2C and B2B customers excluding Electrical vehicle chargers is at the same level as last year. Key drivers for reduced margin year on year are the significant sales increase of EV chargers and increased sale to B2B customers.

• Opex to sales ratio 25,0% (24,9%). For this financial year we have started to make provisions for expected year end bonuses from the start of the year. In 2020 we started to make provisions from Q3. Taking this into consideration we are still increasing cost efficiency and EBITDA year on year.

• Adjusted EBITDA of 39,6 MNOK (40,7 MNOK). Adjusted EBITDA margin percentage is 12,4% (15,0%)

We have delivered a record first half of 2021 with 26% growth in sales and 27% growth in EBITDA. This is the result of the dedication and hard work being done by all our employees across the country. Securing that our customers get the products, the support, and the service that they need to make their businesses and homes work better.

Q2 report and presentation will be available at www.elektroimportoren.no/investor you can also join us live on Teams at 13.00 hrs August 18th. Link is avaialable at www.elektroimportoren/investor.no

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