Komplett Asa · OSL:KOMPL
Komplett Asa — Q1 2023 Earnings Presentation
22 slides from Komplett Asa's earnings presentation, 2023
Slide 1: Komplett Group
re KOMPLETT°GROUP
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: Early observations
| Early observations A clear and profitable route forward for Komplett © Well-positioned brands with high potential to utilise the strong preference for all of our brands o A preferred partner to suppliers with solid opportunities for improved sourcing terms and closer cooperation o Attractive emplo
Slide 4: New management team in place from 1st May
| New management team in place from 1st May CEO Jaan lvar Semlitsch Commercial’ Cc Andreas ———+— ‘od CFO Westgaard WG Thomas Rokke > yee HR Kristin Torgersen Strategy & M&A Markus Solvik a @ Webhallen Holmstram : ‘a Anders Torell Komplett Services Erlend Stefansson . Andreas Westqaard from 1 August.
Slide 5: A strong business in a challenging demand environment
| A strong business in a challenging demand environment o Challenging and uncertain market environment persists, although showing some signs of improvements © Continued revenue decline, yet improved gross margin across all business segments © Inventory levels tuned to meet seasonality and market dem
Slide 6: Financial performance
Financial performance Thomas Rokke, CFO
Slide 7: Key financials
| Key financials o Revenue growth of 39 per cent driven by NetOnNet acquisition o Weakened consumer sentiment and continued online-offline rebalancing co Pro forma the group's revenue decreased by 11 per cent YoY o Gross margin uplift of 2.3 percentage points YoY o Somewhat improved pricing environm
Slide 8: B2C: Gross margin progress in a challenging demand and cost environment
B2C Gross margin progress in a challenging demand and Ml Revenue ex. NetOnNet © Gross margin as reported (%) A R tribution from NetOnNet cost environment i | evenue contribution from NetOnNe' 3409 o Underlying revenue decline of ten per cent due to aah aus BES challenging demand environment and onli
Slide 9: B2B: Improved gross margin despite sales decline
B2B Improved gross margin despite sales decline | Revenue @ Gross margin(%) o Revenue impacted by lower demand from smaller 361 business customers o Broad-based gross margin progress driven by improved Ei pricing conditions and attractive inventory Q1-22 02-22 Q3-22 04-22 Q1-23 co Higher opex share
Slide 10: Distribution
Distribution Steady operations, but impacted by cost inflation and weaker consumer sentiment Revenue impacted by weaker consumer demand and phasing of deliveries to large accounts Strengthened gross margin, partly offset by product and client mix EBIT performance somewhat strained by volume decline
Slide 11: Profit and loss
| Profit and loss oc One-off costs of NOK 13 million related to reorganisation and restructuring as well as associated expenses co Increase in net financials driven by higher interest expenses, factoring costs and non-recurring expenses related to establishment of new credit facilities co Positive t
Slide 12: Financial position
| Financial position fe) fe) fe) fe) Financial position strengthened with new equity YoY Equity ratio of 45 per cent at the end of 01 The remaining NOK 500 million of the bridge loan facility related to NetOnNet acquisition repaid in Q1 Net interest-bearing debt incl. IFRS 16 at quarter-end was NOK
Slide 13: Cash flow & working capital
| Cash flow & working capital fe) Net cash flow from operating activities primarily driven by inventory increase during the quarter, reduced trade receivables and changes in other current receivables Net cash used in investing activities of NOK 45 million, compared with NOK 31 million in Q1-22 Net c
Slide 14: Slide 14
Slide 15: Key takeaways
| Key takeaways © Challenging demand environment and uncertain market conditions © Improved pricing environment and dynamics compared with last year o Healthy inventory, strong cost control and synergy programme well underway © Strong internal culture and attractive employer brand with enthusiastic
Slide 16: Outlook
| Outlook o Lowconsumer sentiment and moderate spending expectations expected to impact top line performance also going forward o Healthier inventory, improved pricing environment and sourcing programme supports margin progress compared with 2022 but market risks remain o Combination with NetOnNet a
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Slide 18: Alternative Performance Measures (APMs)
| Alternative Performance Measures (APMs) ‘The Aemeuseaby Komslett Group ar et out Balow Ixosenteintphabsticl reel 81 adstot: Derive tomtnarcia statements es peratingrest(EAIF)excudingone-off ‘Ameuntsin NOK miton orzozs ornare Fv 2022 Tota opraingrevenue 618 2608 wee con w 0 ° +0ne-tt cost 8 18 80 E
Slide 19: Pro forma figures
KOMPLETT’GROUP = net@net Pro forma figures KOMPLETT’GROUP 5 1
Slide 20: Komplett + NetOnNet pro forma key figures
| Komplett + NetOnNet pro forma key figures Key figures Q1 2023 Hamat Nate ten Amounts in NOK million 912023 912023 012023 912023 Operating revenue 3618 2329 1289 - Growth (%) (11.2%) (10.6%) (12.2%) - Gross profit’ Sil 304 206 - Gross margin (%)1 14.1% 13.1% 16.0%. - Operating expenses (ex. dep and
Slide 21: Komplett + NetOnNet pro forma IFRS P&L
| Komplett + NetOnNet pro forma IFRS P&L Q1 2023 Incl IFRS Amounts in NOK million 912023 012023 912023 012023 Total operating income 3618 2329 1289 - Cost of goods sold (3108) (2.025) (1083) 2 Employee benefit expenses (248) (147) (101) > Depreciation and amortisation expense (81) (33) (35) (13) Oth
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