Elektroimportøren AS — Earnings Release 2021

Feb 10, 2022

Q4 Reporting Elektroimportøren

Q4 Reporting Elektroimportøren

Highlights of the fourth quarter 2021

Elektroimportøren continue to grow in Q4 and delivers record high sales and EBITDA for the full year of 2021.

Key financials;

• Revenue of 458.9 MNOK (451.7 MNOK) up 1.6%, 2019 revenue was at 312 MNOK.

• Online share of total sales (excluding pick up in store) 12,5% (13.7%).

• B2B sales have increased with 19.6% compared to last year, while B2C sales had a decrease with 7.2%.

• B2B share of total sales in Q4 was 47.3% (41.1%).

• Total like-for-like sales growth was negative with -6.8% online and -1.0% in physical stores.

• For the full year we had a positive like-for-like sales growth in physical stores with 7.8%, and 13.0% online.

• As for previous quarters EV chargers is the product category with highest sales growth. For Q4 total sales growth was 101.7% compared to Q4 in 2020.

• Gross margin for Q4 was 40.5%, increase from 39.6% in Q4 2020

• Opex to sales ratio 26.6% (24.6%).

• EBITDA for Q4 is 62.6 MNOK (60.7 MNOK) 2019 EBITDA at 30 MNOK. EBITDA margin percentage is 13.6% (13.4%). Adjusted EBITDA 64.0 MNOK (67.7 MNOK).

• The board of directors of Elektroimportøren will propose an ordinary dividend of 60 MNOK to the general assembly.

For the full year 2021 sales grew with 13.0%. Profit before taxes for the full year 123.4 MNOK is record high, and a significant year on year improvement 107.2 MNOK).

After year end we acquired Elbutik AB, a strategic acquisition enabling us to move into Sweden.

CEO Andreas Niss comments:

We have despite facing very tough comparable numbers from Q4 2020 managed to grow sales, gross margins and profits for the quarter. Our growth is driven by a continuous gain in market shares in B2B and gross margins and profits derive from better category management and sales execution in stores. For the full year I am pleased with that we managed to outperform 2020 which proves that we have established our business at a higher level. Our market position has never been stronger and with our new adventure in Sweden we see great potential in pushing the bar for growth even higher.

Q4 report and presentation is available at www.elektroimportoren.no/investor. You can also join us live on Teams at 09.00 hours February 10. Link is available at www.elektroimportoren/investor.no.

Link to Elektroimportøren Q4 Webcast

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