Europris — Earnings Release 2025

Jan 29, 2026

Resilient performance in Norway alongside progress in Sweden

Resilient performance in Norway alongside progress in Sweden

Europris sustained its strong sales growth trajectory in Norway in the fourth

quarter and ended a solid year on a good note. Supported by

effective marketing campaigns and a product range tailored

to cover customers' everyday needs, the Europris concept has attracted more

customers over the past few years and demonstrated its relevance as a shopping

destination across all major seasons.

The turnaround initiatives in Sweden began to show some effect in the fourth

quarter. Campaign sales continued to grow while enhanced store operations and

value chain improvements also contributed to positive performance for

the ÖoB chain. Like-for-like sales showed an improvement of 3.8 per cent in

local currency in the fourth quarter.

Financial highlights for the fourth quarter of 2025:

· Total group sales reached NOK 4,611 million in the fourth

quarter, an increase of 5.3 per cent on a reported basis and 4.1 per cent in

constant currency

· Sales growth of 4.6 per cent to NOK 3,372 million in segment Norway

· Sales growth of 7.3 per cent to NOK 1,283 million in segment Sweden, with

sales increasing 2.8 per cent in local currency

· Gross margin of 42.6 per cent (42.5)

· Opex-to-sales ratio of 22.1 per cent (22.3)

· EBIT of NOK 677 million (624) and EBIT margin of 14.7 per cent (14.3)

· Net profit attributable to parent of NOK 464 million (443)

· Includes unrealised losses on interest rate swaps of

NOK 5 million compared to unrealised gains of NOK 8 million in 2024

Financial highlights for the full year of 2025:

· Total group sales of NOK 14,878 million, up 16.7 per cent

· Segment Sweden included for four more months this year - organic sales

growth for the group of 5.7 per cent in constant currency

· Sales growth of 7.2 per cent to NOK 10,590 million in segment Norway

· Segment Sweden had total sales of NOK 4,289 million

· Gross margin of 40.9 per cent (41.7)

· Dilutive impact from inclusion of segment Sweden for four more months in

2025

· Opex-to-sales ratio of 24.9 per cent (24.7)

· EBIT of NOK 1,319 million (1,237) and EBIT margin of 8.9 per cent (9.7)

· Net profit attributable to parent of NOK 814 million (837)

· 2024 was positively impacted by net NOK 34 million in accounting

effects related to the acquisition of ÖoB

· Includes unrealised losses on interest rate swaps of NOK 18 million

compared to unrealised gains of NOK 2 million in 2024

· Net debt excluding lease liabilities increased to NOK 858 million (720)

· The board of directors proposes a dividend per share of NOK 3.75 (3.50)

"Norway delivered a strong performance, supported by good sales growth and a

good margin level, reflecting disciplined execution in a demanding retail

environment. In Sweden, the turnaround initiatives are progressing and results

are improving, but we are still in the early phases. We remain fully committed

to our targets for Sweden while continuing to protect strong performance in

Norway. Our long-term priorities remain unchanged.", comments CEO Espen Eldal.

Total operating income amounted to NOK 4,611 million (4,378) in the fourth

quarter of 2025, a reported increase of 5.3 per cent. In constant currency the

growth was 4.1 per cent.

Gross profit amounted to NOK 1,962 million (1,862), with a gross margin of 42.6

per cent (42.5). Operating expenditure (Opex) increased by 4.0 per cent to NOK

1,017 million (978), with an opex-to-sales ratio of 22.1 per cent (22.3).  EBIT

was NOK 677 million (624), an increase of NOK 53 million or 8.6 per cent. This

reflected improvement in segment Sweden compared to the previous year. The EBIT

margin was 14.7 per cent (14.3).

Net debt amounted to NOK 4,292 million at 31 December 2025 (4,181), and NOK 858

million adjusted for lease liabilities (720). Cash and liquidity reserves

amounted to NOK 2,108 million at 31 December 2025 (2,244).

The board of Europris ASA proposes a dividend of NOK 3.75 per share for 2025

(3.50), representing an increase of 7.1 per cent. The dividend amounts to

NOK 614 million excluding treasury shares (573) and represents a pay-out ratio

of 75.4 per cent of the majority's share of the profit (68.4).

Outlook

Both Norway and Sweden saw declining inflation and lower interest rates in 2025,

contributing to relatively strong consumer spending. The positive consumer

sentiment is expected to continue into 2026, supported by projections for real

wage growth in both countries.

The supply side may be affected by geopolitical developments and an uncertain

international trade environment, which could affect product availability,

freight operations, costs, tariffs, currencies, and other value chain factors.

To mitigate potential adverse impacts, the group employs strategic sourcing and

logistics practices as well as financial derivatives wherever feasible.

The turnaround initiatives for ÖoB are progressing as planned. The upgrading of

non-food product categories, harmonised with Europris' offering, has been well

received by ÖoB's current customers, and the planning and execution of campaigns

has improved significantly. However, the group believes that full store

remodellings will be required across the entire store network to enhance

customer experience and drive footfall and sales growth from new customer

segments.

Following the four remodelled pilot stores in 2025, the group will accelerate

the remodelling programme to 35-45 stores in both 2026 and 2027. The costs

associated with the programme are expected to offset any underlying profit

improvements in segment Sweden in 2026 - as a consequence, the group expects the

operating profit for ÖoB in 2026 to be in line with the loss reported for 2025.

Results are expected to improve from 2027 onwards, and the board and management

remains confident in its ambition to grow ÖoB's sales from the existing store

portfolio to SEK 5 billion with an EBIT margin of 5 percent by the end of 2028.

Practical details:

The quarterly report, presentation materials and spreadsheet with key figures

will also be available on the website https://investor.europris.no. CEO Espen

Eldal and CFO Stina C Byre will present the group's results at 08:30 CET at the

SEB office, Filipstadveien 10 in Oslo. The presentation will be held in English

and transferred via live webcast and will be made available through the website

at https://investor.europris.no. It will be possible to ask questions via the

web.

For further information, please contact

Espen Eldal, CEO, +47 48 29 24 24, espen.eldal@europris.no

Stina C Byre, CFO, +47 41 10 58 08, stina.byre@europris.no

Trine Engløkken, +47 94 05 09 37, trine.englokken@europris.no

About Europris

Europris is Norway's largest discount variety retailer by sales. The group

offers its customers a broad range of quality-owned brands and brand name

merchandise. Its merchandise is sold through the Europris chain, which consists

of a network of 289 stores throughout Norway. Of these, 268 are directly owned

by the group and 21 operate as franchise stores. In May 2024, the group took

full ownership of the Swedish discount variety retailer ÖoB, which consists of a

network of 92 stores in Sweden. In addition, Europris is full or partial owner

of the e-commerce companies Lekekassen, Strikkemekka and Designhandel. The

group's head office is located in Fredrikstad, Norway.

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to section 5-12 the Norwegian Securities Trading Act. This stock exchange

announcement was published by Trine Engløkken, head of investor relations at

Europris ASA, on 29 January 2026 at 07:00 CET.