Komplett Asa · OSL:KOMPL
Komplett Asa — Q4 2021 Earnings Presentation
19 slides from Komplett Asa's earnings presentation, Feb 9, 2022
Slide 1: Q4 2021 Presentation
Lars Olav Olaussen, CEO Krister Pedersen, CFO 9 February 2022
Slide 2: Disclaimer
| Disclaimer This presentation has been prepared by Komplett ASA (the “Company’") solely for information purposes. The presentation does not constitute an invitation or offer to acquire, purchase or subscribe for securities. This presentation includes forward-looking statements which are based on ou
Slide 3: Well-positioned in a growing market
| Well-positioned ina growing market © Successful execution of “back to core” strategy launched since 2018 o The fastest-growing online-first retailer of electronic goods and services in the Nordics o Well-positioned towards large and structurally growing electronics market supported by online migra
Slide 4: Highlights for the quarter
Highlights for the quarter: | Improved profitability driven by scalable business model o 4 percent revenue decline for the Group due to headwind from supply chain constraints and components shortage, especially in the gaming and components categories no o Record performance in B2B and Distribution ©
Slide 5: Electronics market stabilising following exceptional growth
| Electronics market stabilising following exceptional growth B2C Nordic electronics market o B2C electronics market growth has levelled off in +1% recent months 19%] o Ongoing supply chain constraints and components shortage expected to continue in 2022, primarily impacting B2C growth © Supply chai
Slide 6: Solid revenue growth in 2021 despite market headwind
| Solid revenue growth in 2021 despite market headwind Revenue growth o 12 per cent revenue growth for the full year, despite softer market growth and supply chain constraints Gale) Gh ay G5I%) 2442 o 4 percent revenue decline in 04 following 41 per cent growth in 04 2020 o Decline in B2C offset by
Slide 7: Gross margin holds up well
| Gross margin holds up well Fourth quarter comments o Gross margin increase (+0.1 pp) driven by improved Gross profit and gross margin margins in B2B (+1.3 pp) and Distribution (+0.3 pp) segments © Stable gross margin in B2C 435 421 131g L482 © Overall gross profit decline as a result of lower 315
Slide 8: EBIT margin improvement
| EBIT margin improvement EBIT (adj.) and EBIT (adj.) margin tinues 118 118 388 Fourth quarter comments 276 © Impact from reduced revenues on EBIT* was 20 48 neutralised by improved gross margin and good 0.8% 0.6% cose eae 04-19 04-20 04-21 2019 2020-2021 o Adjusted EBIT* margin improved by 0.2 pp,
Slide 9: B2C: Softer market conditions
B2C Softer market conditions Fourth quarter comments o 12 percent revenue decline on the back of exceptional growth in 04 2020 o Softer B2C electronics market o Supply chain constraints impacted especially the gaming and components categories o More price campaigns compared with 04 2020 o EBIT decli
Slide 10: B2B: Record quarter - Record year
B2B G19%) Record quarter - Record year aan oe 1125 ean Fourth quarter comments o Alltime high revenues driven by strong growth in order value per customer 04-19 04-20 04-21 2019 2020 2021 o Broad-based gross margin improvement of 1.3 pp pp - Revenues* © Grossmargin(%) © Sales growth, improved gross
Slide 11: Distribution
Distribution Surpassing NOK 3 billion in yearly sales eso 898 3124 2 426 Fourth quarter comments 445 1522 © Alltime high performance o 8percent revenue growth driven by new distribution agreements, product launches and 0419 04-20 04-21 201920202021 organic growt _ Revenues @ Grossmargin(%) oc Broad
Slide 12: Financial performance
| Financial performance Krister Pedersen, CFO @ komptett’GRouP
Slide 13: Profit and loss
| Profit and loss * Revenues declined 4 per cent in 04 * Increased gross margin, driven by B2B and Distribution * Continued efficiency with operating expenses as a percentage of operating revenue at 9.2 per cent * Increased tax expense as the 04 2020 tax expense was lower from booking a loss carried
Slide 14: Cash flow & working capital
| Cash flow & working capital * Good progression in Operating result * Cash flow from operating activities hampered by increased net working capital * Increase in working capital, mainly from increased inventories * Lowinend of 2020 due to strong sales in the quarter * High in the end of 2021 due to
Slide 15: Strengthened financials
| Strengthened financials * NewRCF facility in June of NOK 500 million where of NOK 500 million utilized due to dividend pay- out and Ironstone acquisition * Liquidity continues to be solid * Leverage ratio of 1.3x NIBD/EBITDA (ex IFRS16). * The Board of Directors are proposing a dividend per share
Slide 16: Summary and outlook
| Summary and outlook Lars Olav Olaussen, CEO _—— @ komPLetT’cRouP
Slide 17: Key takeaways
| Key takeaways © 12 percent revenue growth for 2021, despite decline in 04 o January top line in line with 04 © Strong start to the year for B2B and Distribution, continued headwind in B2C o Record performance in B2B and Distribution o Q4EBIT sustained, 41 per cent EBIT growth for 2021 co The board
Slide 18: ( KOMPLETT’GROUP
( KOMPLETT’GROUP
Slide 19: Alternative Performance Measures (APMs)
Alternative Performance Measures (APMs) The by Komplete Grou ar set cftlas detnedtlowlasa percentage ot spnabei xa ‘exalpersengrevene. The Goup has preset tis tem because Operating Cost Percentage: Tota operating expensesiess cost Operating Free Cash Flow: ETA exc. impact of FRSI6less invest conders