Komplett ASA: An efficient and scalable platform for growth

29 Feb 2024 07:00 CET

Sandefjord, 29 February 2024: At its Capital Markets Day today, Komplett ASA
will present its strategic plan and new financial targets. For the period 2026
-2028, the group aims to outgrow the market and to be among the most profitable
players in their industry.

"We will utilise our scale to drive commercial and cost advantages while
maintaining strong brand autonomy. This provides us with an efficient and
scalable platform for growth, while enabling a sustained cost leadership
position," says Jaan Ivar Semlitsch, President and CEO of Komplett ASA.

The group's operating model is based on independent, differentiated brands, with
websites, shops and product offerings tailored to specific customer segments and
needs. The strength of brand autonomy will be combined with selected shared
functions and capabilities that provide scale benefits, in particular a central
commercial team, a shared supply chain network and common tech, analytics and
data platform.

For the period 2026-2028, the group has defined the following targets:

· Sales of at least NOK 18-20 billion
· EBIT margin of at least 3-4 per cent
· Cash conversion above 70 per cent

The group targets a balanced capital structure with a NIBD/EBITDA of 2-3x.
Providing its shareholders with attractive returns through dividends and value
appreciation remains a priority.

The group's key levers of growth beyond the market include expansion into
adjacent categories, such as home appliances and telecom, and further growth in
core categories such as gaming and gaming-related products. Moreover, NetOnNet
will continue its store expansion plan in line with their omni-channel business
model. The group will also use its platform to expand its service and
subscription offerings as well as growing the product portfolio and customer
base in B2B and Distribution.

The targeted EBIT margin will be achieved by utilising scale to gain improved
purchasing terms, operational leverage and cost measures to maintain an industry
-leading cost position. The group also aims to capture positive mix effects from
increasing the share of sales from private label and services, and from other
higher-margin categories.

"Although markets are expected to remain challenging for a while still, we are
positioned in a fundamentally attractive market supported by strong underlying
drivers. With our online-first business model and presence in categories with
short innovation and replacement cycles, we are exposed to the fastest growing
sales channels and categories," says Semlitsch.

Komplett Group has also updated its sustainability strategy and set clear ESG
targets which encompasses the group's commitment to offering circular products
and services, reducing its climate and environmental impact, and continuing to
be an inclusive and attractive employer. By 2028, circular products and services
are to represent at least 15 per cent of the group's revenues. Moreover, the
group targets a reduction in scope 1 & 2 GHG emissions of 42 per cent by 2030,
and to become net zero by 2040.

The presentation material from today's event is attached to this notice.

Today's event will start at 09:00 CET in the Auditorium in House of Oslo
Conference Centre, Ruseløkkveien 34. The Capital Markets Day presentation and
Q&A sessions can also be viewed as a live webcast here:

https://channel.royalcast.com/landingpage/hegnarmedia/20240229_1/

A recorded version of the webcast will be available shortly after the webcast
has concluded.

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:
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612164_Komplett_ASA_CMD_Presentation.pdf