Elektroimportøren AS — Earnings Release 2021

May 5, 2021

Q1 2021 Results

Q1 2021 Results

Highlights of the 1st quarter 2020

Elektroimportøren delivers strong growth, increased cost efficiency and a record 1st quarter result. We have managed to grow sales in all customer groups, sales channels and product categories and we have increased our market share in the B2B space.

Key financials

• Revenue of 345.7 MNOK (256.7 MNOK) up 34.7%.

• Online share of total sales (excluding pick up in store) 14.8% (13.2%).

• Strong sales growth in the B2B segment and share of sales have increased compared to last year to

• 47.9% (44.4%). Sales to B2C 52.1% (55.6%).

• Total like for like sales growth 28.1% driven by 51.8% online and 25.2% physical stores.

• Gross margin for Q1 was 37.3%, down from 38.8% (Q1 2020). Key drivers for reduced margin

• percentage year on year are strong growth in sales to B2B customers, negative effect on B2C sales

• in stores that are closed for this customer group (because of Covid 19 restrictions), and strong sales

• growth on EV chargers (significantly lower margin compared to other product categories).

• Increase in operational efficiency OPEX to sales ratio 27.9% (32.6%).

• Adjusted EBITDA of 32.3 MNOK (15.7 MNOK). Adjusted EBITDA margin percentage is 9.4% (6.1%).

Throughout our organization from the central warehouse, our stores, our sales representatives in the field and our people working from home a great performance have been delivered. The results of our first quarter is a great performance delivered by a great team.

Q1 report and presentation will be available at www.elektroimportoren.no/investor you can also join us live on Teams at 10.00 hrs May 5th by following this link Link to Elektroimportøren Q1 Webcast