Komplett Asa · OSL:KOMPL
Komplett Asa — Q4 2025 Earnings Presentation
25 slides from Komplett Asa's earnings presentation, Feb 12, 2026
Slide 1: Fourth Quarter 2025
12 February 2026 Fourth Quarter 2025 Ros -Marie Grusén, CEO Thomas Røkke, CFO
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Komplett ASA (the “Company”) solely for information purposes. The presentation does no t constitute an invitation or offer to acquire, purchase or subscribe for securities. This presentation includes forward -looking statements which are based on our
Slide 3: Agenda
Photo: Bjørn Wad Agenda 01 02 03 04 05 Highlights Operational Financial Summary Appendix for Q4-25 update performance and outlook 3
Slide 4: Highlights for Q4-25
01 Highlights for Q4-25 Ros -Marie Grusén, CEO Photo: Bjørn Wad
Slide 5: Continued progress in Q4…
Highlights Continued progress in Q4… Operating revenue: Gross margin: NOK 5 132million 14.0 per cent Q4-24: NOK 4 883 million Q4-24: 13.9 per cent Positive gross margin Sales growth of 5.1 per cent trajectory continued at a including positive FX, reflecting slower pace, reflecting tougher a good pea
Slide 6: … with efforts ongoing to unlock the group’s potential
Highlights … with efforts ongoing to unlock the group’s potential • Managing market developments - Favourable market conditions, but more challenging innovation cycles and supply conditions • Accelerating top line growth - Expanding position in selected categories • Maintaining a stable and controll
Slide 7: Operational update
02 Operational update Ros -Marie Grusén, CEO Photo: Bjørn Wad
Slide 8: Strength and brand proposition reconfirmed by consumers
Our brands Strength and brand proposition reconfirmed by consumers Most trusted retail brand for Clear owner of the low- price Highly trusted retail brand – excelling electronics in Norway position and a loved electronics on innovation and inspiration retail brand in Sweden Highly regarded for effic
Slide 9: Komplett: Continued good momentum
Komplett Continued good momentum • Komplett.no again highly rated for customer satisfaction • Own manufactured PCs gained strong position among dedicated gamers • Productivity gains from new robotic arm • Continued cost management focus Photo: Bjørn Wad 9
Slide 10: NetOnNet: Building on a strong brand
NetOnNet Building on a strong brand • NetOnNet recognised for their brand reputation and customer journey on mobile • Performance improvement initiatives, including customer journey optimisation and cost base reduction • New managing director with extensive retail and management experience Photo: Ne
Slide 11: Webhallen: Optimising operations and customer experience
Webhallen Optimising operations and customer experience • Expanded product assortment following implementation of shared functions • Continued focus on productivity gains and cost control under new leadership • Relocation of Uppsala city centre store to Gränbystaden Photo: Bjørn Wad 11
Slide 12: Financial performance
03 Financial performance Thomas Røkke, CFO Photo: Bjørn Wad
Slide 13: Key financials: Continued growth and EBIT uplift
Key financials Continued growth and EBIT uplift • Sales increase of 5.1 per cent in improved markets (+2.4 per cent LFL) Revenue Gross profit - Supported by continued positive market dynamics and a solid peak - Growth in the B2C (+6.0 per cent) and Distribution businesses (+4.9 5 132 +5.1% 717 +5.2%
Slide 14: B2C: Profit improvement
B2C • Revenue up 6.0 per cent YoY (+2.6 per cent LFL) Profit improvement - Norway +2.8 per cent, supported by gaming and appliances; held back by protection measures in NetOnNet 3 896 3 677 - Sweden +2.0 per cent (LFL), driven by appliances and seasonal Revenue (NOK million) sales, offset by telecom
Slide 15: B2B: Gross margin improvement
B2B Gross margin improvement • Revenue decreased by 2.4 per cent ( - 3.0 per cent LFL) 436 - Sales in Norway decreased by 4.2 per cent, while the Swedish 422 412 Revenue (NOK million) operations had a revenue increase of 4.9 per cent (LFL) 366 329 Gross margin (%) - Growth impacted by rebalanced pri
Slide 16: Distribution: Return to growth
Distribution Return to growth • Revenue up 4.9 per cent (+4.5 per cent LFL) - Norway revenue increased by 2.7 per cent, while Sweden had an 824 increase of 29.0 per cent (LFL) 786 720 Revenue (NOK million) 660 Gross margin (%) - Increase was driven by improved demand combined with 593 improved avail
Slide 17: Structural and temporary improvements in net working capital
Cash flow and working capital Structural and temporary improvements in net working capital • Net operating cash flow in the period supported by higher Cash flow Q4-25 Q4-24 FY-25 FY-24 trade payables of NOK 843 million and lower trade Net cash flow from operating receivables of NOK 13 million counte
Slide 18: Continued solid liquidity
Financial position Continued solid liquidity • Solid liquidity reserve of NOK 1 714 million at quarter - end - Structurally improved payment terms Liquidity reserve Net interest -bearing debt - Temporarily elevated because of seasonal phasing effects 1726 1714 854 - Expected to normalise with season
Slide 19: Measures taken to reduce balance sheet risk by the Swedish entities
Non-cash impairment charges Measures taken to reduce balance sheet risk by the Swedish entities • Non- cash impairment charges of which NOK 534 million Profit and loss Q4-25 Q4-24 FY-25 FY-24 recognised against goodwill in the B2C segment: EBIT (adj.) 102 77 44 (47) • NetOnNet NOK 443 million One-of
Slide 20: Summary and outlook
04 Summary and outlook Ros -Marie Grusén, CEO Photo: Bjørn Wad
Slide 21: Continued progress facing a more uncertain supply environment
Summary and outlook Continued progress facing a more uncertain supply environment • EBIT adj. uplift of NOK 25 million YoY • Inherent balance sheet risk significantly reduced • Actions implemented to optimise operations and accelerate profitability • Management team further strengthened • Positive u
Slide 22: Photo: Bjørn Wad
Photo: Bjørn Wad
Slide 23: Appendix
05 Appendix Photo: Bjørn Wad
Slide 24: Alternative Performance Measures (APMs)
Alternative Performance Measures (APMs) 24
Slide 25: Photo: Bjørn Wad
Photo: Bjørn Wad