Elektroimportøren : Elektroimportøren Annual Report 2022

Annual Report 2022

AS

elektroimportoren

elektroimportoren

#Annualreport2022 #elektroimportoren #elimp

Contents

Contents Elektroimportøren in brief 2022 highlights

CEO letter

Board and management Board of Directors' report Consolidated financial statement

Notes to the consolidated financial statement Independent auditor's report

A N N U A L R E P O R T 2 0 2 2 - E L E K T R O I M P O R T Ø R E N A S

Elektroimportøren in brief

Elektroimportøren AS is a full-range provider of electrical equipment. The company operates a web shop and stores in Norway with the brand Elektroimportøren and in Sweden with the brand Elbutik. The company has a presence in the entire value chain of electrical equipment, from product development and manufacturing with its private label Namron - to connecting electric installers and consumers for a seamless customer experience with the service platform SpotOn. The company targets both B2B and B2C customers and more than one third of total sales are generated from the private label Namron, securing a disruptive pricing model and sustainable operating margin. Elektroimportøren has a true omnichannel model, which includes a popular web shop and physical stores with high share of professional, skilled expert workers.

Number of stores		Employees		Revenues (2022)		EBITDA (2022)
27		528		1,626		206

Key investment highlights

Full-range provider of electrical equipment with an unique business model present in the entire value chain

Proven track record of strong, profitable organic growth

Strong underlying growth trend in the Nordic electrical components market

Focused strategy and multiple growth levers going forward

Growth areas:

SpotOn - Further develop SpotOn as a full service platform for connecting installers and consumers

Solar panels - Take a strong position in the growing market for solar panels

New stores in Norway - Continuing with opportunistic roll out of new stores in Norway depending on available high quality locations

Sweden - Opening of physical stores in Sweden following the acquisition of Elbutik

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A N N U A L R E P O R T 2 0 2 2 - E L E K T R O I M P O R T Ø R E N A S

Key milestones

Elektroimportøren was established in Oslo, Norway in 1994 with one store. In 1996 we introduced ecommerce to the Norwegian market by establishing the webshop "elektroimportoren.no". From 2014 the company has expanded its presence by rolling out several new physical stores every year.

2023 First physical store in Sweden

2022 Nordic expansion through acquisition of Elbutik in Sweden

2020 Listed on Euronext Growth Oslo

2019 Launch of service platform SpotOn

2014 Majority ownership acquired by Hercules; new management, new strategy and nationwide store roll-out and growth

2007 White label Namron established

1996 Webshop launched

1994 Founded with one store in Oslo, Norway

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A N N U A L R E P O R T 2 0 2 2 - E L E K T R O I M P O R T Ø R E N A S

Elektroimportøren is a full-range provider of electrical quipment with an unique and disruptive business model

From product development to installation, Elektroimportøren is present in the enitre value chain of electrical equipment

Namron is a leading supplier that offers a wide range of products in lighting, electrical equipment, cables, heating and smart home. Namron was established in 2007 and is a company fully owned by Elektroimportøren. The company has its head office in Oslo, a central warehouse in Vestby, and factories in China.

Namron aims to be the industry's most valuable brand. Through continuously product-development, efficient production and creative innovation, Namron aims to create products that provides great value for money and makes customer's product selection easy. High quality performance products ensures that our customers great value for money.

Elektroimportøren is a full-range provider of electrical equipment. The company operates a web shop and stores in Norway with the brand Elektroimportøren and in Sweden with the brand Elbutik.

The company targets both B2B and B2C customers. Elektroimprtøren has a true omnichannel model, which includes a popular web shop and physical stores with high share of professional, skilled expert workers.

We understand that it is difficult to get started when you do not know which electrician you should contact or how much it will cost to get the job done.

Elektroimportøren has made it liberatingly easy to get the job done, by reliable professionals at a reasonable price, at a time that suits you. The way it should be.

With SpotOn, you can sit comfortably in your own home and order what you need, exactly when it suits you. We will fix the rest.

31%

of sales (2022)

501

mnok in sales (2022)

• • Fully digital ordering
• Multiple choice of products
• Fixed price for product and
• 
  installation
• Confirmation of times and

appointment

• • Certified electricians
• As promised - Guaranteed

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