Elektroimportoren (ELIMP) investor relations material

Executive summary

• Q2 revenue reached NOK 367 million, up 5.2% year-over-year, with growth in both Norway and Sweden across B2B and B2C segments despite a negative Easter effect.

• Physical stores drove growth with increased visitors and higher average basket size, while online sales in Norway declined due to Easter timing.

• Sweden delivered over 20% sales growth, nearly doubled gross margin to 27.9%, and achieved positive EBITDA for the fourth consecutive quarter.

• EBITDA increased to NOK 40 million, up from NOK 30 million last year, with net profit at break-even or slightly positive.

• Store expansion continued, with a new store in Bergen, Norway, and further growth planned in Sweden.

Financial highlights

• Total Q2 revenue was NOK 367 million, up 5.2% year-over-year; like-for-like revenue grew 1.3%.

• Gross margin improved to 34.9% from 32.4% last year, driven by better category and campaign management.

• EBITDA margin improved to 10.8% from 8.7% last year; adjusted EBITDA was NOK 41 million.

• Net profit reached NOK 0 or NOK 0.1 million, up from a loss of NOK 4.9–5 million last year.

• Sweden revenue up 22.8% year-over-year, with gross margin rising to 27.9% and EBITDA at NOK 2 million.

Outlook and guidance

• July sales grew 5.8% year-over-year, with growth in both B2B and B2C segments despite warm weather.

• Positive sales trends expected to continue, supported by lower interest rates and increased residential exchange.

• Plans to open one to three more stores in Norway and expand selectively in Sweden over the next 24 months.

• Swedish operations seen as a base for further growth.

• Ongoing cautiousness in private consumption noted.