Elektroimportøren AS

Investor Presentation • May 15, 2025

Elektroimportøren

1st quarter presentation

May 15, 2025

Andreas Niss, CEO Jørgen Wist, CFO

Agenda

• Summary Q1
• Key strategic areas
• Operational update
• Financials
• Outlook
• Q&A

Operational summary Q1

• Solid growth in sales and profit, driven by growth in both customer segments, online growth and new stores
• Continued improvement in margin due to improved category and campaign management
• Strong increase in visitors in both Norway and Sweden due to new stores in Norway, and a slightly more positive market sentiment
• Opening of one new store in Lillehammer in March
• Strong revenue growth in Sweden with positive EBITDA

Financial Summary Q1

• Group revenue increased by 13.1% to NOK 396 million (NOK 350 million)
  • Like for like revenue increased by 8.8%
  • Online revenue increased by 13.2% in Norway
  • Revenue increased by 21.1% in Sweden
• Gross margin increased to 36.0% (34.7%)
• Operating expenses of NOK 105 million, up from NOK 96 million LY. Increase mainly driven by three new stores. OPEX to sales ratio at 26.5%, down from 27.5% last year
• EBITDA increased to NOK 36 million (NOK 24 million). Adjusted EBITDA NOK 37 million (NOK 27 million)
• Net profit of NOK -8 million (NOK -11 million)

Key Strategic Areas

Home and Energy efficient solutions.

Operational update

• Opened store no. 30 in Lillehammer
• We're progressing with our store expansion plans and are currently exploring three promising new locations for signing in Norway during 2025
• Process to integrate SpotOn in Elektroimportøren on track

• Growth in both B2B and B2C segments in Q1

Specialist Position

• 72% of our customers perceive Elektroimportøren as a brand with "very highly skilled employees".
• Of our sales staff, 7 out of 10 are educated electricians.

Total provider Own Brands and category development Market Opportunities - Sweden

• Namron SOB increased to 35% in Norway (33.6%) and 10.2% in Sweden (8.4%)
• Growth from all our core categories. EV Chargers back on the top growth list in Q1

• Revenue increase of 21.1% in Sweden
• Visitors increased by 29.8%

Elbutik, Sweden Q1

The positive trend continues in Sweden, with strong growth in both revenue and profit in Q1

• Revenue increased with 21.1 % in Q1 2025, compared to Q1 in 2024
• Gross margin increased to 26.9%, up from 21.6% last year
• Positive EBITDA. Our plan to restore profitability in Sweden continued to deliver positive results in Q1

Customers Norway

Customer visiting growing

We continued to increase visitors to our stores in Q1, due to three new stores, store opening I Lillehammer and a more positive market sentiment.

• Average basket increased 1.5 % vs Q1 2024
• Conversion rate decreased 1.1% vs Q1 2024

Double digit growth

Revenue increase driven by growth in all customer segment.

•B2C revenue increased by 13.5% vs Q1 2024 •B2B revenue increased by 12.8% vs Q1 2024

Knowledge & Specialist Perception in Market 52 63 ^{71 73 75 76 76 79} 0 10 20 30 40 50 0 20 40 60 80 2018 2019 2020 2021 2022 2023 2024 Q1 25 Competence* Knowledge

Market verifies our competence

The perception that Elektroimportøren has highly competent employees, increases in line with increasing brand awareness.

*Question: "Has very high skilled employees". Base: Respondents with knowledge of Elektroimportøren.

Financials

Revenues

Total revenue in Q1 increased by 13.1% to NOK 396 million, up from NOK 350 million last year

• The increase was driven by both stores and online sales in Norway and Sweden
  • Norway: Online 13.2%, stores 12.6%
  • Sweden: Online 15.7%, store 38.4%
• Like-for-like revenue increased by 8.8%
• B2C revenue increased by 13.5% and B2B revenue increased by 12.8%
• Easter effect of approximately NOK 15 million. Likefor-like growth adjusted for Easter effect of approximately 5%

Gross margin

Gross profit for the quarter increased to NOK 142 million, up from NOK 121 million last year

• Gross margin of 36.0% (34.7%)
• Increase in gross margin is driven by improved margin in both Norway and Sweden, mainly due to improved category and campaign management

Development Gross Margin

OPEX

• Opex to sales ratio reduced to 26.5% in Q1 (27.5%)
• Operating expenses increased to NOK 105 million (NOK 96 million), mainly driven by the opening of three new stores.
• The group continues to maintain a rigid cost control

EBITDA

Reported EBITDA of NOK 36 million, up from NOK 24 million last year. EBITDA margin in Q1 was 9.0%, up from 6.8% last year

Cash Flow

Cash and credit facilities

Loan has a maturity of three years from March 18th 2024. Overdraft facility is rolling 12 months.

Events after the periode and outlook

Events after the period and outlook

• As presented in Q4, we are integrating SpotOn as Elektroimportøren's service engine to maintain high-quality service. Elektroimportøren Holding AS is also buying back the 8% of SpotOn shares previously held by employees. Cost savings are expected in H2 2025
• Annual General Meeting on April 30th

Q2 sales

• April sales with positive trends both in Norway and Sweden
• To eliminate easter effects, we report sales for January to April of NOK 515 million, a growth of 8.3% vs. same period last year

General events Development in Sweden Market outlook

• No specific events in Sweden after Q1 closing
• Positive sales trend continues

• The market is still characterized by uncertainty, with low consumer confidence measures at the end of Q1
• We are still cautious optimistic, monitoring macroeconomic development carefully

Elektroimportøren