Q4-25: Further progress and advancement towards long-term goals

12 Feb 2026 07:00 CET

Oslo, 12 February 2026: The fourth quarter concludes a year in which Komplett
Group delivered consistent profitability improvements, supported by better
margins and proactive cost control, as well as a stable financial position with
solid liquidity. During the year, measures to optimise operations and accelerate
profitability have been reinforced to unlock the group's potential.

Operating revenue increased by 5.1 per cent in the fourth quarter of 2025, from
NOK 4 883 million to NOK 5 132 million (+2.4 per cent in constant currency). The
overall sales development was supported by continued positive market dynamics
and another strong peak season.

The positive gross margin trajectory seen throughout 2025 continued in the
quarter with a moderate uplift of 0.1 pp. The year-over-year development
reflects tougher comparisons as well as the absence of certain temporary effects
present in the comparable quarter last year. The gross margin reached 14.0 per
cent in the fourth quarter, resulting in a 5.2 per cent improvement in gross
profit (+2.5 per cent in constant currency).

Operating expenses declined by 1.9 per cent in constant currency as the cost and
restructuring measures offset the effects from general inflation and growth
investments. The implemented measures will be reinforced as required with the
aim of maintaining a stable and controlled cost base.

EBIT adj. amounted to NOK 102 million in the fourth quarter of 2025,
representing an uplift of NOK 25 million compared with NOK 77 million in the
same period of 2024.

In light of the delayed recovery in the Swedish entities, non-cash impairment
charges of NOK 536 million have been recognised, which reduces the balance sheet
risk associated with these operations. These impairments do not affect the
underlying operation or the group's future opportunities in Sweden, where the
brands hold a very strong position.

At the end of December, the group's leverage ratio, defined as NIBD / LTM EBITDA
(adjusted for certain items), was 1.4x. The net debt level at year-end was
positively affected by a temporarily high liquidity position which is expected
to seasonally adjust during Q1.

Looking ahead, the group notes a generally favourable market environment,
although innovation cycles and the supply of memory components may become more
challenging moving forward.

"The fourth quarter represented another solid peak season for the group, showing
improvement on a strong corresponding period in the previous year. Operations in
Norway continued to perform well, with especially good progress in the highly
competitive gaming segment. Our sales development was however impacted by
ongoing efforts to prioritise margin quality across the NetOnNet footprint in
Sweden and Norway," says Ros-Marie Grusén, President and CEO of Komplett ASA.

"The group has made meaningful progress along its strategic and operational
priorities, but continued attention will be required to fully unlock the group's
long-term potential, and we will continue to develop our customer offering while
strengthening our operational efficiency," Grusén adds.

The presentation material and report for the fourth quarter of 2025 are attached
to this notice.

A presentation of the results will be held by CEO Ros-Marie Grusén and CFO
Thomas Røkke at 09:00 CET in Storstua at Sommerro, Sommerrogata 1, Oslo.

The event will also be made available via a live webcast. Please use the
following link to register and view the webcast:

https://qcnl.tv/p/aD4oEDAGekEZm8l1cAVf6Q

Questions will be addressed towards the end of the presentation. 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 know-how, expertise and deep
customer commitment. Komplett Group operates an efficient and scalable business
model that supports cost leadership and enables a competitive product offering.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Elise Heidenreich, Investor Relations adviser, at
the date and time as set out above.

More information:
Access the news on Oslo Bors NewsWeb site

665516_Komplett_Q4_25_Report.pdf
665516_Komplett_Q4_25_Presentation.pdf