Komplett Group (KOMPL) Q2 2026 earnings summary

Executive summary

• Revenue grew 4.2% year-over-year to NOK 3,575 million in Q2, driven by strong seasonal demand and commercial initiatives, offsetting headwinds in gaming and components.

• Adjusted EBIT improved by NOK 39 million to NOK 17 million, reflecting disciplined cost management, sales growth, and FX benefits.

• All business segments contributed to revenue growth, with consumer electronics, telecom, and seasonal products performing strongly.

• Operational highlights include the launch of the Komplett Gaming Hub, expansion of private label offerings, and improved customer journey initiatives.

• Cost efficiencies and restructuring initiatives led to a 6.8% reduction in operating expenses.

Financial highlights

• Gross margin declined to 14.1% from 14.6% year-over-year, impacted by product mix and higher freight costs.

• Operating expenses decreased by NOK 29 million, aided by restructuring, cost measures, and currency effects.

• Leverage ratio improved to 2.4x from 3.8x year-over-year, with net interest-bearing debt down to NOK 684 million.

• Operating cash flow was NOK 237 million, supported by profitability uplift and reduced working capital.

• Equity ratio at 30.1%, down from 35.3% year-over-year.

Outlook and guidance

• Market remains mixed with continued headwinds in gaming and components due to elevated memory prices and a slower innovation cycle.

• Focus remains on disciplined pricing, margin management, operational efficiencies, and expanding private label assortment.

• The group is well positioned to navigate uncertainty and pursue sustainable profitability improvements.