Elektroimportoren (ELIMP) Q3 2025 earnings summary

Executive summary

• Achieved solid revenue growth and improved EBITDA year-over-year, driven by strong margin management, cost control, and B2B as the main driver in Norway, with both online and offline channels contributing in Sweden.

• Growth recorded across all sales channels and customer segments, with physical stores and B2B sales as major contributors; Swedish operations delivered strong sales and gross profit growth.

• Opened a new store in Bergen in October, setting a record for opening day revenue; signed a new store contract in Larvik for Q2 2026.

• Continued positive sales trends into Q4, with double-digit growth in October and strong preparations for peak season.

• EV chargers, Smart Home, and ventilation products were top growth categories, with cooling fans boosted by warm weather.

Financial highlights

• Q3 revenue reached NOK 436 million, up 7.1% year-over-year; like-for-like growth was 3.6%.

• Gross profit increased 6.4% to NOK 159 million; gross margin slightly decreased to 36.5% from 36.7%.

• EBITDA rose to NOK 48 million from NOK 30 million; adjusted EBITDA was NOK 50 million, up from NOK 44 million; EBITDA margin improved to 11.1% from 7.4%.

• Net profit was NOK 7 million, compared to NOK 33 million last year; adjusting for a NOK 44 million earnout provision last year, net profit improved by NOK 18 million in the quarter.

• OPEX rose to NOK 110 million, mainly from new stores, but OPEX to sales ratio improved to 25.1% from 25.8%.

Outlook and guidance

• Q4 started strong with continued double-digit sales growth in October and successful new store opening.

• Well prepared for the peak sales season, with improved campaign responses and B2C sales; ongoing exploration of new store locations in Norway and Sweden, with Larvik set to open in Q2 2026.

• Continued confidence in the business concept and growth trajectory, supported by positive trends in key metrics.