Komplett Asa · OSL:KOMPL
Komplett Asa — Q4 2023 Earnings Presentation
23 slides from Komplett Asa's earnings presentation, February 2024
Slide 1: Komplett Group
he 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: 2023 Highlights
2023 Highlights Culture, people and performance at the core in a challenging market New management teams established, and key recruitments made in Komplett Group and in NetOnNet, Komplett, Webhallen and Ironstone brands Komplett Group has built scale and strengthened its market position while mainta
Slide 4: Q4-23 Highlights: On track with near-term priorities
04-23 Highlights On track with our near-term priorities Deliver peak Deliver operational excellence and profitability Expand NetOnNet in Norway Further organisational changes to improve performance and reduce costs Refine strategic direction Strong peak season, weaker second half of December Continu
Slide 5: Q4-23 Highlights: Improved profitability despite market headwind
04-23 Highlights Improved profitability despite continued market headwind o 30per cent increase in operating results(EBIT adj.) Revenue Gross margin driven by sustained gross margin progress (+1.2 pp), Te a 2 pb a stable sales and good cost control 4657 4734 TWI% 141% 13.5% 14.0% 12.8% se1e 3634 387
Slide 6: Financial performance
Financial performance Thomas Rokke, CFO . ‘ KOMPLETE GROUP
Slide 7: Key financials: EBIT adj. uplift in challenging market environment
| Key financials 30 per cent EBIT adj. uplift in challenging market environment Revenue Gross profit 4657 4734 04-22 4-23 4-22 4-23 Operating expenses (adj.) EBIT (adj.) 91 452 4-22 4-23 Ss KOMPLETT’GROUP Modest revenue growth of 1.7 per cent ina difficult market © Some impact from currency translat
Slide 8: B2C: Solid EBIT improvement driven by gross margin progress
B2C Solid EBIT improvement driven by gross margin progress despite challenging markets o Revenues up 3.0 per cent YoY (-2.2 per cent LFL) 3409 ous a = oo Norway+4.1 per cent, Sweden -5.1 per cent and Denmark li 2503 2585 2594 +15.4 per cent (LFL, YoY) : i + © Solid black-week performance in all mark
Slide 9: B2B: Softer demand from SME customers, more competition
B2B Softer demand from SME customers, more competition and negative mix effects 04-22 Q1-23 02-23 03-23 04-23 fl Revenue (NOK million) @ Gross margin(%) 29 6 5 * G 4-22 Qr23 92-23 3-23 04-23 MM EBIT(NOK million) @ EBIT margin(%) Ss KOMPLETT’GROUP co Revenue decline of 4.4 per cent(-5.2 per cent LFL)
Slide 10: Distribution: Steady performance in slow market
Distribution Steady performance in slow market o Minor revenue decline of 0.7 per cent(-1.2 per cent LFL): 754 695 o Stable revenue level in Norway, decline in Sweden, with both being affected by release of volumes during 04 2022 o Better product availability offset by phasing of sales and an overal
Slide 11: Profit and loss
| Profit and loss Underlying progress from core business Operating revenue Depreciation and amortisation EBIT (adj.) One-off costs Impairments EBIT Net financials Profit before tax Tax expense Profit from continuing operations Profit from discontinued operations Profit for the period Ss KOMPLETT’GRO
Slide 12: o o o
o o o o o o o o o o o o Note: Includes the CGUs Komplett B2C, Komplett B2B and Itegra 12
Slide 13: Cash flow & working capital
| Cash flow & working capital Net working capital optimisation maintained activities Net change in cash and cash equivalents 62 Net cash flow from operating activities 251 560 866 Net cash used in investing activities | 84 | -71 | -208 | Net cash (used in)/from financing | 105 | 499 | 578 "| Invento
Slide 14: Financial position
| Financial position Continued progress across key metrics o Equity ratio of 37.4 per cent at year-end, compared with 46.4 per cent one year earlier on the back of executed non- 1434 _ 1333 cash impairments ie | aD Net interest-bearing debt Liquidity reserve © Netinterest-bearing debt reduced to NOK
Slide 15: Summary and outlook
Summary and ou Jaan Ivar Semlitsch, CEO »« KOMPLETT°GROUP
Slide 16: Key takeaways
| Key takeaways Dedicated to building strong teams and lifting profitability Ss KOMPLETT’GROUP O° Significant profit uplift in a challenging market environment Good progress on initiatives to strengthen market position, utilise scale benefits and improve service levels while maintaining industry-lea
Slide 17: Outlook
| Outlook Committed to scaling up competitive advantages Ss KOMPLETT’GROUP No clear signs of a swift market recovery Komplett Group is entering 2024 with a controlled financial position as planned Potential for additional margin upside in coming periods, supported by sourcing initiatives and the new
Slide 18: Welcome to our Capital Markets Day February 2024
Welcome to our Capital Markets Day 29 February 2024 09:00-12:00 CET Jaan Ivar Semlitsch Thomas Rekke Andreas Westgaard Chief Executive Officer Chief Financial Officer Chief Commercial Officer House of Oslo Conference Center, Ruselgkkveien 34 y The event will be followed by alight lunch with p? manag
Slide 19: Alternative Performance Measures (APMs)
| Alternative Performance Measures (APMs) ‘ross profit: Total operating reverts lass cast of ood sls The group nas presaned hi iter bocausot considers itt bo ausstulmeatizoto show themanagsmentsvowenthe ovarallcire ‘tprof generation before operatingcestsintheqoup'soperstlons, Grossmargin: Gross prof
Slide 20: Pro forma figures
KOMPLETT’GROUP = net@net Pro forma figures KOMPLETT’GROUP °0
Slide 21: Komplett + NetOnNet pro forma key figures
| Komplett + NetOnNet pro forma key figures Key figures FY 2023 ‘Amounts in NOK milion Operating revenue Growth (%) Gross profit’ Gross margin (%)1 Operating expenses (ex. dep and one-off) (adj.) Depreciation and amortisation Total operating expenses (adj.) Operating cost percentage (adj.)' EBIT (ad
Slide 22: Komplett + NetOnNet pro forma IFRS P&L
| Komplett + NetOnNet pro forma IFRS P&L FY 2023 Incl IFRS ‘Amounts in NOK milion Total operating income Cost of goods sold Employee benefit expenses Depreciation and amortisation expense Impairment Other operating expenses Total operating expenses OPERATING RESULT Net finance income and expenses PR
Slide 23: Slide 23