Elektroimportøren AS : Third quarter 2025 results

06 Nov 2025 07:00 CET

Summary of key financials in Q3 2025:
Group revenue of NOK 436 million (NOK 407 million) up 7.1% from last year. Like
for like revenue increased by 3.6%.
Gross profit up 6.4% from last year. Gross margin decreased to 36.5% (36.7%).
Operating expenses of NOK 110 million, up from NOK 105 million LY. Increase
mainly driven by new stores and general KPI adjustments. OPEX to sales ratio at
25.1%, down from 25.8% last year.
EBITDA increased to NOK 48 million (NOK 30 million). Adjusted EBITDA NOK 50
million (NOK 44 million).
Net profit of NOK 7 million (NOK 33 million), primarily due to the release of an
earn-out provision of NOK 44 million in the prior year. Adjusted for the
earn-out effect, the underlying improvement in net profit was NOK 18 million in
the quarter and NOK 27 million YTD.

Comments from the CEO
In the third quarter of 2025, we continue to deliver solid revenue growth
combined with strong margin management and cost control. This resulted in
another quarter with improved EBITDA compared with last year.
In Norway, the quarter opened reasonably well, with a growth slightly above five
per cent. An acceptable growth, given that July was one of the warmest months on
record, typically a period that normally reduces store traffic. Although August
sales were somewhat slower, the overall quarter remained positive, with
September accelerating to double-digit growth.
During the quarter we have growth in all sales channels and customer segments, a
major part coming from our physical stores and B2B sales. We are pleased to note
continued growth in store visitors, conversion rate and average basket size.
Despite challenging market conditions, all key metrics are moving in the right
direction, strengthening our confidence in the concept going forward.
EV chargers remains the product category with the highest growth, followed by
Smart Home. In July we sold unusually large amounts of cooling fans due to the
warm weather, making ventilation the third largest contributor to our growth
during the quarter.
Our Swedish operation continues its positive development. Elbutik delivers good
sales growth and strong gross profit growth. Together with continued cost
control, this resulted in a solid increase in EBITDA for our Swedish operation.
Wholesale market data for Norway shows a 1 per cent decline in the third
quarter. In this market, we achieved B2B sales growth of over 10 per cent.
Consumer spending remains cautious, though we see positive responses to
campaigns and in-store activities.
An internal highlight of this part of the year, is always our annual
Elektroakademiet. Over six days, all employees and key suppliers gather. The
program includes two days of updates on product launches, new standards, and
business tools, as well as sales and customer service training to prepare for
the peak season. This is an important initiative to maintain our strong market
position as a specialist in electrical products and solutions and ensure that we
continuously improve our tailored customer experience.
We have also continued to explore new store locations. During the quarter, we
signed one new store in Larvik in Norway, which is scheduled to open in Q2 2026.
We have also started the scouting for our second and third store in Sweden.
The third quarter confirms that we continue to strengthen our business results,
despite challenging market environment. This achievement is made possible by the
dedication and hard work of our employees across the company. I would like to
thank everyone for their commitment to delivering the best and most professional
customer service to all our customers.

PRESENTATION:
The quarterly report and presentation are available at:
https://www.elektroimportoren.no/investor and http://newsweb.no

The results will be presented today 6 November at 09:00 CET by CEO Andreas Niss
and CFO Jørgen Wist. The presentation will be broadcasted as a live webcast in
English.
Please use the following link:
https://teams.microsoft.com/l/meetup-join/19%3ameeting_NjI0M2IxMmUtZGVmZS00ZjkyL
Tk2MGUtZDYwMjg1MTk3MzZh%40thread.v2/0?context=%7b%22Tid%22%3a%2210b30f00-1bbd-40
41-9c4d-64749f4a7041%22%2c%22Oid%22%3a%223758e62c-12e5-4419-a645-4b77ef5225be%22
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For more information, please contact:
Andreas Niss, CEO: +47 934 67 067
Jørgen Wist, CFO: +47 959 34 619.

More information:
Access the news on Oslo Bors NewsWeb site

658857_Elektroimportøren AS Q3 2025 presentation.pdf
658857_Elektroimportøren AS Q3 2025 report.pdf