Komplett Group (KOMPL) Q3 2026 earnings summary

Executive summary

• Q3 revenue fell 5.2% YoY to NOK 3,642m, with like-for-like revenue down 1.7%; memory-price pressure in components and gaming and adverse sales phasing outweighed growth elsewhere.

• Adjusted EBIT was NOK -9m versus NOK 3m a year earlier as lower gross profit outweighed cost reductions and disciplined margin management.

• Inventory and leverage remained controlled; leverage improved to 2.4x from 3.0x YoY, and liquidity reserve was NOK 1,027m.

Financial highlights

• Gross profit fell 9.0% to NOK 486m from NOK 534m; gross margin declined 0.6 pp to 13.3%, mainly due to components, gaming and product mix.

• Adjusted operating expenses were NOK 495m, down 6.8%; adjusted EBIT was NOK -9m versus NOK 3m in Q3 2025.

• Adjusted operating expenses excluding depreciation and one-off costs fell NOK 32m to NOK 398m; the adjusted operating cost ratio improved to 13.6% from 13.8%.

• Reported EBIT was NOK -20m versus NOK -10m; Q3 included NOK 12m of one-off severance and related costs.

Outlook and guidance

• Peak-season priorities include targeted campaigns, category management and a stronger customer proposition, alongside pricing, margin and cost discipline.

• Elevated memory prices remain uncertain for availability, pricing and demand; memory-exposed categories are expected to have a similar revenue share in Q4 as in Q3.

• Private-label expansion, operational efficiency, faster execution and supplier and assortment optimisation remain priorities; most cost-program effects are in the run rate, with further measures under consideration.