Q3-26: Category-specific headwinds offset underlying progress
Oslo, 22 October 2026: Third quarter performance was characterised by continued headwinds in core categories, driven by elevated memory prices. The effect was partly mitigated by targeted sales initiatives and margin measures. Good cost control contributed to further reductions in operating expenses and the group maintained a controlled financial position, while the renewed financing facility provided improved visibility.
Operating revenue decreased by 5.2 per cent in the third quarter of 2026, from NOK 3 842 million to NOK 3 642 million (-1.7 per cent in constant currency), reflecting phasing of sales from July to June, following strong seasonal sales in Q2, as well as continued headwinds in gaming.
Gross margin reached 13.3 per cent, reflecting a decline of 0.6 percentage points compared with the same period last year. The year-over-year development was impacted by margin pressure in the components and gaming categories, as well as changes in product and segment mix.
Operating expenses were reduced by NOK 36 million as cost reduction measures and continued disciplined cost management were complemented by favourable currency translation effects.
EBIT adj. amounted to negative NOK 9 million in the third quarter, compared with NOK 3 million in the same period of 2025.
At the end of September, the group's leverage ratio, defined as NIBD / LTM EBITDA (adjusted for certain items), was 2.4x, down from 3.0x in the same period last year. The financial position remains controlled and well in line with the agreed financial arrangements, supported by a solid liquidity reserve of NOK 1 027 million. Following quarter-end, the group has entered an agreement to extend its revolving credit facility. The agreement provides increased financing visibility and temporary additional covenant headroom through Q3 2027.
The market outlook is characterised by continued uncertainty related to the development of memory prices and the effect on availability, pricing and consumer behaviour in the electronics market, but is at the same time supported by generally positive macroeconomic conditions.
Looking ahead, the group's most immediate priority is a successful execution of a well-prepared peak season. Komplett Group continues to actively adapt and strengthen the commercial proposition across both established and growth categories, while driving operational efficiencies and maintaining cost discipline.
"In the third quarter, positive developments across several important categories were overshadowed by volume shortfalls and margin pressure in categories affected by memory pricing. Combined with negative phasing effects, this resulted in a year-over-year decline in earnings," says Vebjørn Torsetnes, President and CEO of Komplett ASA.
"We are addressing category-specific headwinds by adapting and strengthening our commercial proposition across both established and growth categories. We combine our efforts to drive sales with continued cost control and margin protection. Looking into 2027 and beyond, we will reinforce and accelerate our actions to strengthen our position and performance," Torsetnes adds.
The presentation material and report for the third quarter of 2026 are attached to this notice.
A presentation of the results will be held by CEO Vebjørn Torsetnes and CFO Thomas Røkke at 09:00 CEST in Storstua at Sommerro, Sommerrogata 1, Oslo.
The event will also be made available via a live webcast. Please use the following link to register and view the webcast:
https://qcnl.tv/p/U0Ec6BnwSt1hsVBJ2tJClQ
Questions will be addressed towards the end of the presentation. A recorded version of the webcast will be available shortly after the webcast has concluded.
For further inquiries, please contact:
Thomas Røkke, CFO Thomas.Rokke@komplett.com
About Komplett ASA Komplett Group is a leading online-first electronics and IT products retailer, operating in Norway, Sweden and Denmark. Serving customers in the B2C, B2B and distribution markets, the Group is deeply focused on delivering best-in-class customer experience, built through decades of know-how, expertise and deep customer commitment. Komplett Group operates an efficient and scalable business model that supports cost leadership and enables a competitive product offering.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Elise Heidenreich, Investor Relations adviser, at the date and time as set out above.