Norway · Delayed Price · Currency is NOK Elektroimportøren AS Earnings Call Transcripts
Fiscal Year 2025
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Q4 delivered strong double-digit revenue growth and margin improvement in both Norway and Sweden, with online and B2B channels as key drivers. 2025 marked a turnaround year, supported by store expansion, improved profitability, and a proposed 63.5% dividend payout.
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Q3 saw 7.1% revenue growth, improved EBITDA, and strong B2B performance in Norway and Sweden. A product recall was initiated due to asbestos, but Q4 started with double-digit sales growth and a record new store opening in Bergen.
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Q2 revenue rose 5.2% to NOK 367 million, with strong growth in Sweden and improved gross margin. EBITDA increased to NOK 40 million, and SpotOn integration is expected to reduce costs. Store expansion continues in both Norway and Sweden.
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Q1 saw 13.1% revenue growth, improved gross margin, and a 50% rise in EBITDA, with strong performance in both Norway and Sweden. Store expansion and integration of SpotOn progressed, while market uncertainty remains due to low consumer confidence.
Fiscal Year 2024
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Q4 delivered 5.2% revenue growth, margin expansion, and a sharp rise in profitability, with Sweden showing strong like-for-like gains. Full-year results reflect improved cost control and operational efficiency, and the outlook is positive with continued store expansion and focus on smart home and energy solutions.
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Q3 saw 1.7% revenue growth to NOK 407 million, with gross margin up to 36.7% and adjusted EBITDA rising to NOK 44 million. B2C outperformed B2B, solar orders dropped sharply, and cost control improved profitability.
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Q2 revenue grew 7.2% year-over-year to NOK 349 million, with like-for-like sales up in both Norway and Sweden. Gross margin declined due to campaigns and product mix, but adjusted EBITDA improved. Market conditions remain challenging, though operational improvements and new store openings are expected to support future growth.