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Komplett Group (KOMPL) investor relations material
Komplett Group Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q4 2025 operating revenue increased to NOK 5,132 million, up 5.1% year-over-year, driven by a strong peak season and positive FX effects.
Adjusted EBIT rose to NOK 102 million, up NOK 25 million from last year, with margin improving to 2.0% from 1.6% and reflecting improved gross profit and stable operating expenses.
Gross margin continued to improve, reaching 14.0% in Q4 2025 versus 13.9% a year ago.
Operating costs were kept stable as cost measures offset inflation and commercial investments, maintaining opex share at 12.0%.
Non-cash impairment charges of NOK 534–536 million were recognized for Swedish entities, reducing balance sheet risk.
Financial highlights
Q4 2025 revenue: NOK 5,132 million (up 5.1% YoY); full year: NOK 15,775 million (up 3.1%).
Adjusted EBIT margin: 2.0% in Q4 (up from 1.6% YoY); full year: 0.3% (up from -0.3%).
Net working capital improved to NOK -471 million from NOK -149 million, supporting liquidity.
Leverage ratio improved to 1.4x from 2.5x year-over-year.
Equity ratio at year-end: 26.9% (down from 34.3% YoY), reflecting impairment charges and inventory buildup.
Outlook and guidance
Market environment is broadly supportive but more demanding, with improving consumer sentiment and replacement cycles.
Contribution from recent product launches expected to decline in 2026; supply constraints in memory and components remain a risk.
Management expects continued progress but notes a more uncertain supply environment and challenging innovation cycles.
Focus on growth in gaming, domestic appliances, private label expansion, and strict cost discipline.
Actions to optimize operations and accelerate profitability are ongoing.
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