Elektroimportøren AS — Earnings Release 2022

Nov 3, 2022

Q3 Reporting Elektroimportøren

Q3 Reporting Elektroimportøren

Highlights of the third quarter 2022.

Key financials;

• Revenue of 398.1 MNOK (359.8 MNOK) up 10.6%.

• Total like-for-like sales have been reduced with 1.4%.

• Online share of total sales (excluding pick up in store) 17.2%

• B2B sales increased with 9.8% compared to last year while B2C sales including Elbutik increased with 11.4%.

• B2B share of total sales in Norway was 51.4% (48.2%).

• The overall Gross margin percentage of 37.6% (38.5%). Gross margin percentage in Norway is up 0.1% compared

to last year.

• Opex to sales ratio of 26.6% (25.3%).

• Reported EBITDA of 44.8 MNOK (47.8 MNOK). EBITDA margin percentage is 11.3% (13.3%).

Given the market conditions, especially in B2C, we believe our performance in the quarter have been good. We continue to grow our business, we have increased our gross margins in Norway, our stores have good cost control, and we deliver on our strategic objectives.

Our greatest thanks go to all our fantastic employees, who with their knowledge and their wish to improve every day, continues to deliver the best customer service there is. Now we look forward to what we as a team can deliver in peak season.

Q3 report and presentation is also available at

www.elektroimportoren.no/investor.

You can join live webcast at 09.00 3. November. Link to webcast is available at www.elektroimportoren.no/investor.