Elektroimportoren (ELIMP) Q1 2025 earnings summary

Executive summary

• Achieved third consecutive quarter of year-over-year growth in sales, gross margin, and profits, with consistent growth across countries, customer segments, and product categories.

• Solid sales and profit growth in Q1 2025, driven by B2B, B2C, online channels, and new store openings in Norway and Sweden.

• Store expansion continued with the opening of the 30th store in Norway, contributing to increased customer visits and sales.

• Swedish operations delivered positive EBITDA, with B2B as the main growth driver and improved gross margins.

• Gross margin improvement and better cost-to-sales ratio confirm progress toward profitability targets.

Financial highlights

• Q1 revenue reached NOK 396 million, up 13.1% year-over-year; like-for-like revenue grew 8.8%.

• Gross margin improved to 36.0% from 34.7% last year.

• EBITDA rose to NOK 36 million (NOK 24 million last year); adjusted EBITDA NOK 37 million.

• Net profit for the quarter was NOK -8 million, an improvement from NOK -11 million last year.

• Online sales in Norway grew by 13.2%; Sweden revenue increased by 21.1%.

Outlook and guidance

• Sales growth continues into Q2 2025, with January–April sales at NOK 515 million, up 8.3% year-over-year.

• Cost savings expected in H2 2025 from SpotOn integration.

• Market expected to remain uncertain with low consumer confidence; cautiously optimistic outlook.