Komplett Group (KOMPL) SEB Nordic Seminar presentation summary

Business overview

• Leading Nordic online-first electronics retailer with five brands serving B2C, B2B, and distribution segments.

• Operates 34 NetOnNet self-service shops and 12 Webhallen small-box stores, supported by efficient logistics in Norway and Sweden.

• Brands include Komplett, NetOnNet, Webhallen, Ironstone, and Ditegra, each targeting distinct customer needs.

• High customer satisfaction, fast delivery, and loyal customer base are common brand traits.

• FY 2024 revenues: NOK 15.3 bn, with 71% from B2C, 10% B2B, and 19% distribution.

Brand positioning and consumer perception

• Komplett is the most trusted electronics retail brand in Norway, known for efficiency and broad assortment.

• NetOnNet holds a strong low-price position and is the second most loved electronics retailer in Sweden.

• Webhallen is highly trusted, excelling in innovation and serving a niche of gamers and tech enthusiasts.

• Omnichannel strategies: NetOnNet (40-45% online), Webhallen (60-65% online).

• Consumer research confirms unique value propositions for each brand.

Market environment and trends

• Market supported by rapid innovation, digitalization, and lifestyle trends like gaming and home office.

• Consumer electronics spending is recovering, with real household expenditure on goods returning to growth.

• Positive effects from new product launches and strong demand for novelties and replacement cycles.

• Good demand for private label products; value-for-money remains a key focus.

• Outlook is positive, especially in Norway, with improving conditions in Sweden.