Komplett ASA: Annual and sustainability report for 2022

23 Mar 2023 07:00 CET

Sandefjord, 23 March 2023: The board of directors of Komplett ASA has approved
the annual accounts for 2022, and the annual report has been published today.

In 2022, the group succeeded in strengthening its market position through the
combination with NetOnNet, where synergy realisation is progressing as planned.
Financial performance for the year was impacted by challenging market conditions
for online retail across the Nordics. Revenue for the year came in at NOK 14.6
billion, corresponding to a 32.4 per cent growth from the year before, driven by
the acquisition of NetOnNet. Adjusted EBIT came in at NOK 87 million, compared
with NOK 388 million one year earlier.

Even in a challenging market environment, the group maintained its industry
-leading cost position, secured new financing facilities and successfully
reduced excess inventory.

"In 2022, the retail industry experienced the effects of overfilled warehouses
and corresponding price pressure across the industry. Komplett acted swiftly in
response to the inventory build-up and successfully reduced its inventory by NOK
600 million during the year. As we neared the end of the year, our inventory
position was healthy, and the gross margins have started to recover. Going
forward, we will continue to build on the strong market position that Komplett
has in Norway and Sweden as well as realising the potential that lies in the
acquisition of NetOnNet," says Komplett ASA CEO Jaan Ivar Semlitsch.

In 2022, Komplett conducted a group-wide materiality assessment which reaffirmed
that circularity, tolerance, and environment should remain our top priorities
across all our companies.

"We made significant progress in promoting circular business practices in 2022.
We also improved our efforts to promote diversity and improved the data quality
in our climate accounting. Looking ahead, we remain committed to our ESG goals
and will increase our efforts to reduce our climate footprint. In sum, the group
is well-placed to continue building on its strong market position and is
entering 2023 in a much stronger position than when it entered 2022," says
Semlitsch.

The annual and sustainability report is attached to this notice. In addition,
the company has published its annual financial statements in European Single
Electronic Format (ESEF). This document is also attached to this notice.

For further inquiries, please contact:

Thomas Røkke, CFO
Thomas.Rokke@komplett.com

Kristin Hovland, Head of Communication
Kristin.Hovland@komplett.com

About Komplett ASA
Komplett Group is a leading online-first electronics and IT products retailer,
operating in Norway, Sweden and Denmark. Serving customers in the B2C, B2B and
distribution markets, the Group is deeply focused on delivering best in class
customer experience, built through decades of knowhow, expertise and deep
customer commitment. Komplett Group operates an efficient and scalable business
model that supports cost leadership and enables a competitive product offering.

More information:
Access the news on Oslo Bors NewsWeb site

585926_Komplett_annual_report_2022_web.pdf
585926_kompl_2022_12_31_en.zip