Komplett Asa · OSL:KOMPL
Komplett Asa — Q3 2021 Earnings Presentation
21 slides from Komplett Asa's earnings presentation, 2021
Slide 1: Komplett Group Q3 2021 Presentation
@ Kkomptett’cRouP
Slide 2: 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 our current expe
Slide 3: Favorable shift towards online shopping sustained, coupled with strong commercial execution
o Favorable shift towards online shopping sustained, coupled with strong commercial execution o 15 per cent post-Covid revenue growth on top of strong comparable figures o Volume growth translates into increased economies of scale and continued opex improvement of 0.9 pp o 33 per cent increase in ad
Slide 4: Organic revenue growth
Organic revenue growth +15% +31% 2 715 2 365 15% • 15 per cent revenue growth for the group on top 14% of strong comparable figures from 2020 1 800 • Record-high quarterly revenues in B2B (+19%) 15% 55% driven by strong growth both in orders per 58% customer and basket-size 64% • Growth in Distribut
Slide 5: Gross profit and gross margin
Gross profit and gross margin +11% +39% 347 • Improved gross profit (+11%) driven by increased 313 revenue and margin growth in Norwegian B2C and B2B 225 • Negative mix effects from significant growth in Distribution • Intensified price competition in B2C in the beginning of the quarter countered by
Slide 6: EBIT (adj.) and EBIT (adj.) margin
EBIT (adj.) and EBIT (adj.) margin +33% • 33 per cent improvement in adjusted EBIT*, 83 driven by increased revenue and operational 63 efficiencies • Adjusted EBIT margin improved by 0.5 pp, driven 7 2.6% 3.1% 0.4% by revenue growth, efficiency and scalability of the business model Q3-19 Q3-20 Q3-21
Slide 7: B2C: 9 per cent revenue growth on top of 19 per cent growth in Q3 2020
+19% +9% 1 481 1 362 1 147 • 9 per cent revenue growth on top of 19 per cent growth in Q3 2020 backed by a competitive pricing 16.0% 15.5% strategy and successful campaigns 13.5% • Particularly strong growth in the categories PC, Q3-19 Q3-20 Q3-21 components and gaming as well as handhelds Revenues
Slide 8: B2B: record-high revenues driven by SME customers and education
+19% +25% 400 335 268 • Strong position among SME customers, available supply and growth in the education sector 14.6% 16.2% 16.9% resulted in record-high revenues • Both Norway (+16%) and Sweden (+30%) Q3-19 Q3-20 Q3-21 contributed to the growth Revenues* Gross margin (%) • Growth in orders per cus
Slide 9: Distribution: 25 per cent revenue growth driven by new distribution agreements
+25% +75% 831 665 • 25 per cent revenue growth driven by new 380 distribution agreements, product launches and organic growth 7.3% 6.0% 5.8% • Positive impact on gross margin from increased Q3-19 Q3-20 Q3-21 sales of computers and private label products Revenues Gross margin (%) • Negative mix effec
Slide 10: Sustainable subscription model FLEX growing fast
Sustainable subscription model FLEX growing fast Komplett FLEX well received by our customers and accounted for 10 per cent of B2C sales in 03 2021 komptett™ ge Betal O kr i dag FLEX En helt ny mate 4% akjgpe produkter pa! v NOK 0 down payment Y Get the latest tech v Return, upgrade and Y Promoting
Slide 11: Acquisition of 65 per cent of Ironstone Holding AS
• During the quarter, Komplett completed the acquisition of 65 per cent of the shares in Ironstone Holding AS, a leading supplier of cloud-based IT solutions and services • Meets the growing demand from corporate customers for basic IT services to complement traditional hardware purchases • The pure
Slide 12: Continued uncertainty related to product availability due to supply chain constraints
o Continued uncertainty related to product availability due to supply chain constraints and components shortage o For B2B and Distribution, we have secured availability of the supply we need Trenger nytt bilde o In B2C, we continue to see supply chain risk primarily related to gaming and components
Slide 13: Continue to invest in a strong customer offering
• Continue to invest in a strong customer offering • Maintain close supplier relations to ensure timely deliveries prior to the peak-season • Meet price competition with strong commercial skills • Sustain efficient operations based on existing business model • Continue to build on our long-term stra
Slide 14: Financial performance
| Financial performance Krister Pedersen, CFO yee 4 SS Sg KOMPLETT°GROUP
Slide 15: Income statement: revenue growth of 15 per cent in Q3
• Revenue growth of 15 per cent in Q3 Q3 Q3 YTD YTD 2021 2020 2021 2020 • Stable but mixed effects on gross margin Operating revenue 2 715 2 365 7 751 6 431 • Improved efficiency with operating expenses EBIT (adj.) 83 63 270 158 as a percentage of operating revenue down to One-off cost -5 - -16 - 9.
Slide 16: Cash flow and change in net working capital
Q3 Q3 YTD YTD Cash Flow 2021 2020 2021 2020 • Good progression in Operating result Net cash from operating activities 153 36 13 78 • Decrease in working capital, mainly from Net cash used in investing activities -77 -12 -100 -29 increased trade payables Net cash (used in)/from financing activities -
Slide 17: New RCF facility, NIBD, liquidity and leverage ratio
579 NIBD 521 Liquidity 343 • New RCF facility of NOK 500 million where of NOK 257 500 million utilized due to dividend pay-out and Ironstone acquisition • Strengthened liquidity despite higher interest bearing dept 2020 2021 • Strengthened leverage ratio from 1.5x to 1.3x NIBD/EBITDA (ex IFRS16) Lev
Slide 18: Summary and outlook
| Summary and outlook Lars Olav Olaussen, CEO yes 4 _S - Sg KOMPLETT°GROUP
Slide 19: Established in 1996 – 100% e-com DNA
✓ Established in 1996 – 100% e-com DNA ✓ Continuously at the forefront of online retail, developing the e-com industry in the Nordics ✓ No brick-and-mortar heritage
Slide 20: Favorable shift towards online shopping sustained, coupled with strong commercial execution
o Favorable shift towards online shopping sustained, coupled with strong commercial execution o 15 per cent post-Covid revenue growth on top of strong comparable figures o Volume growth translates into increased economies of scale and continued opex improvement of 0.9 pp o 33 per cent increase in ad
Slide 21: Komplett Group
( KOMPLETT’GROUP