Komplett ASA — Earnings Release 2025

Feb 12, 2026

Q4-25: Further progress and advancement towards long-term goals

Q4-25: Further progress and advancement towards long-term goals

Oslo, 12 February 2026: The fourth quarter concludes a year in which Komplett

Group delivered consistent profitability improvements, supported by better

margins and proactive cost control, as well as a stable financial position with

solid liquidity. During the year, measures to optimise operations and accelerate

profitability have been reinforced to unlock the group's potential.

Operating revenue increased by 5.1 per cent in the fourth quarter of 2025, from

NOK 4 883 million to NOK 5 132 million (+2.4 per cent in constant currency). The

overall sales development was supported by continued positive market dynamics

and another strong peak season.

The positive gross margin trajectory seen throughout 2025 continued in the

quarter with a moderate uplift of 0.1 pp. The year-over-year development

reflects tougher comparisons as well as the absence of certain temporary effects

present in the comparable quarter last year. The gross margin reached 14.0 per

cent in the fourth quarter, resulting in a 5.2 per cent improvement in gross

profit (+2.5 per cent in constant currency).

Operating expenses declined by 1.9 per cent in constant currency as the cost and

restructuring measures offset the effects from general inflation and growth

investments. The implemented measures will be reinforced as required with the

aim of maintaining a stable and controlled cost base.

EBIT adj. amounted to NOK 102 million in the fourth quarter of 2025,

representing an uplift of NOK 25 million compared with NOK 77 million in the

same period of 2024.

In light of the delayed recovery in the Swedish entities, non-cash impairment

charges of NOK 536 million have been recognised, which reduces the balance sheet

risk associated with these operations. These impairments do not affect the

underlying operation or the group's future opportunities in Sweden, where the

brands hold a very strong position.

At the end of December, the group's leverage ratio, defined as NIBD / LTM EBITDA

(adjusted for certain items), was 1.4x. The net debt level at year-end was

positively affected by a temporarily high liquidity position which is expected

to seasonally adjust during Q1.

Looking ahead, the group notes a generally favourable market environment,

although innovation cycles and the supply of memory components may become more

challenging moving forward.

"The fourth quarter represented another solid peak season for the group, showing

improvement on a strong corresponding period in the previous year. Operations in

Norway continued to perform well, with especially good progress in the highly

competitive gaming segment. Our sales development was however impacted by

ongoing efforts to prioritise margin quality across the NetOnNet footprint in

Sweden and Norway," says Ros-Marie Grusén, President and CEO of Komplett ASA.

"The group has made meaningful progress along its strategic and operational

priorities, but continued attention will be required to fully unlock the group's

long-term potential, and we will continue to develop our customer offering while

strengthening our operational efficiency," Grusén adds.

The presentation material and report for the fourth quarter of 2025 are attached

to this notice.

A presentation of the results will be held by CEO Ros-Marie Grusén and CFO

Thomas Røkke at 09:00 CET in Storstua at Sommerro, Sommerrogata 1, Oslo.

The event will also be made available via a live webcast. Please use the

following link to register and view the webcast:

https://qcnl.tv/p/aD4oEDAGekEZm8l1cAVf6Q

Questions will be addressed towards the end of the presentation. A recorded

version of the webcast will be available shortly after the webcast has

concluded.

For further inquiries, please contact:

Thomas Røkke, CFO

Thomas.Rokke@komplett.com

Kristin Hovland, Head of Communication

Kristin.Hovland@komplett.com

About Komplett ASA

Komplett Group is a leading online-first electronics and IT products retailer,

operating in Norway, Sweden and Denmark. Serving customers in the B2C, B2B and

distribution markets, the Group is deeply focused on delivering best-in-class

customer experience, built through decades of know-how, expertise and deep

customer commitment. Komplett Group operates an efficient and scalable business

model that supports cost leadership and enables a competitive product offering.

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 Elise Heidenreich, Investor Relations adviser, at

the date and time as set out above.