Elektroimportoren (ELIMP) Q4 2025 earnings summary

Executive summary

• Q4 2025 delivered double-digit revenue and gross profit growth, with strong contributions from Norway and Sweden, and online and B2B channels as key drivers.

• Store expansion continued, including a second Swedish store contract and ongoing negotiations for new locations in both countries.

• 2025 marked a turnaround year with improved profitability in Norway, halted losses in Sweden, and margin expansion across segments.

• Swedish operations (Elbutik) saw 19.5% revenue growth, significant gross margin improvement, and positive EBITDA.

• Online sales and all core product categories, especially EV Chargers and Smart Home, were major growth drivers.

Financial highlights

• Q4 group revenue was NOK 587 million, up 12.8% year-over-year; like-for-like sales grew 7.8%.

• Gross profit rose 14% to NOK 206 million, with gross margin at 35.1%.

• Adjusted EBITDA for Q4 was NOK 83 million (margin 14.2%), up from NOK 67 million last year.

• Net profit for Q4 was NOK 32 million, up from NOK 24 million last year.

• Full-year 2025 revenue grew 9.8% to NOK 1,786 million; adjusted EBITDA rose 24.1% to NOK 211 million.

Outlook and guidance

• Double-digit sales growth continued into Q1 2026 in both Norway and Sweden.

• Store expansion remains a focus, with several new locations under negotiation and at least one new store opening in Norway in 2026.

• Dividend of NOK 0.40 per share proposed for 2025, totaling NOK 20.3 million (63.5% payout ratio).

• Slightly improved private consumption and B2C sales response to campaigns.