Elektroimportøren: Fourth quarter 2022 results

15 Feb 2023 06:21 CET

Total sales in the fourth quarter were NOK 502 million, which is up 9.4% from
NOK 460 million last year driven by the acquisition of Elbutik. Gross profit for
the quarter was NOK 187 million (NOK 186 million last year) resulting in a gross
margin of 37.3% (40.5%). EBITDA for the fourth quarter ended at NOK 70 million
compared to NOK 77 million in Q4 last year.

“In the fourth quarter we managed to grow despite tougher market conditions and
a record Q4 from 2021 to beat. A solid execution of Black week and a good ending
of the year made this quarter our best quarter ever in sales and 2022 another
year of continuous growth for Elektroimportøren,” said Andreas Niss, CEO of
Elektroimprotøren.

“2022 has been an exciting year for us. We have made our first acquisition and
by doing so entered the Swedish market. We have continued to develop our
industry leading service offering through the development of Spoton as well as
launching new Namron products into the market and our store portfolio have grown
from 25 to 27 stores in Norway,” said Andreas Niss, CEO of Elektroimprotøren.

Number of visitors into Elektroimportøren stores was slightly down compared to
last year but the company managed to keep the average basket and conversion rate
just above last year. Smart home products, heating and Spoton represent the
categories with the highest growth.

Elektoimportøren sees an increasing demand in products that can help our
customers save energy. Throughout the quarter the company has continued to work
with the expansion of its energy saving product assortment. This includes
products like heating pumps, smart home solutions and solar panels. Sales of
solar panels in Norway have started in first quarter 2023 and the offering has
been well received by the market. Elektroimportøren sees great potential in
taking a strong position in this growing solar market going forward.

Elektroimportøren has a clear strategy for continued growth including Spoton,
solar and new stores in both Norway and Sweden. Given these growth initiatives
the board of directors will propose an ordinary dividend of NOK 0.5 per share
for the year 2022. The board believes that reinvesting most of the profit in the
business will provide the greatest benefit for the company and its stakeholders
at this time. The long-term dividend policy is not changed.
iatives the board of


“I would like to send my greatest thanks to all colleagues who through their
hard work, passion and determination makes sure that we, as we develop as a
company, stay true to our mission of delivering the best customer experience in
the most professional way,” said Andreas Niss, CEO of Elektroimprotøren.

The quartely report and presentation is available at
www.elektroimportoren.no/investor.

You are invited to join a live webcast today at 09.00. Link to webcast is
available at www.elektroimportoren.no/investor.

More information:
Access the news on Oslo Bors NewsWeb site

582402_Elektroimportøren -Q4-2022 Report.pdf
582402_Elektroimportøren Q42022 Investor presentation.pdf