Europris hosts Capital Markets Update

08 Dec 2022 07:00 CET

Fredrikstad, 8 December 2022: Europris is hosting a Capital Markets Update today
at Hotel Continental in Oslo, with attention concentrated primarily on its
efforts to improve the customer experience, drive customer traffic, strengthen
the price and cost position, and act responsibly.

The group is maintaining its financial and operational ambitions to deliver like
-for-like growth above the market, expand the store network by five new stores
net per year, and increase the EBITDA margin over time. It also reiterates its
dividend policy of paying out 50-60 per cent of net profit.

"We've exceeded the financial and operational ambitions set out at our last
capital markets day, showing a rate of growth clearly higher than the market, a
doubling of EBITDA, and a bigger dividend payout than indicated," says CEO Espen
Eldal. "Our ambition is to continue growing profitably and creating value for
our shareholders."

In connection with the CMU, Europris has released a trading update for October
-November 2022 which shows that its total retail sales for these months combined
increased by 7.4 per cent year-on-year. Sales in the Europris chain increased by
7.8 per cent, including both directly operated and franchise stores, while
combined sales for the online pure-play companies rose by 4.7 per cent year-on
-year.

"This has been a challenging year for many retailers, and I'm very pleased to
see us returning to growth during the autumn," adds Eldal. "The jury is still
out on Christmas shopping in December, but these figures show a strong start to
the fourth quarter."

As part of the presentation material Europris also discusses its cost base,
including costs related to inbound freight. The rates for sea freight from Asia
have recently declined significantly, and Europris informs that it has
negotiated a new two-year freight agreement commencing in January 2023, in which
the rates have been reduced by approximately 50 per cent compared to the current
agreement.

The CMU starts at 09:00 today, with registration and breakfast from 08:30. Eldal
will be joined on stage by CFO Stina C Byre, Renate B Spernes, VP for strategy
and sustainability, and Andreas Skalleberg, CEO of Lekekassen.

After the company presentations, Jeroen van Dorp, head of consumer retail cross
market group EMEA at Goldman Sachs, will give a presentation on international
variety retail perspectives.

This will be followed by a fireside chat between Eldal and Spernes, director
Harald Jackwitz Andersen from the Federation of Norwegian Enterprise (Virke),
partner Britt Ottersdal Myrset from Deloitte, and private economist Derya
Incedursun from Nordea. Their discussion will be moderated by equity analysts
Ole Martin Westgaard and Petter Nystrøm from DNB Markets and ABG Sundal Collier
respectively.

The webcast presentations will be given in English and transmitted live via the
group's website at https://investor.europris.no. It will be possible to ask
questions via the webcast. The presentations will be available for download at
the group's website on the day of the event.

Please note that the fireside chat will not be included in the webcast.

For further information, please contact:

Trine Engløkken, Head of IR
Telephone: +47 940 50 937
E-mail: ir@europris.no

About Europris:

Europris is Norway's largest discount variety retailer by sales. The group
offers its customers a broad range of quality owned brands and brand-name
merchandise. This merchandise is sold through the Europris chain, which
comprises a network of 276 stores throughout Norway, 249 directly owned by the
group and 27 operating as franchises. In addition, Europris has a 67 per cent
stake in the Lekekassen, Lunehjem, Strikkemekka and Designhandel e-commerce
stores. The group's head office is located in Fredrikstad, Norway.

This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

577619_Europris_Capital_Markets_Update_presentation.pdf