Elektroimportøren : Elektroimportøren's presentations for 2nd quarter 2023

Elektroimportøren

2nd quarter presentation August 16 2023

Andreas Niss CEO

Jørgen Wist CFO

Summary of key financials Q2

• Revenue of NOK 326 million (358) down 9% from last year
• Total like-for-like sales have been reduced with 10.7%.
• B2B sales decreased with 8.8% compared to last year while B2C sales decreased with 9.3%.
• B2B share of total sales was 51% (50%).
• Total sales of Spoton NOK 7 million
• The overall Gross margin percentage of 34.6% (35.1%).
• Opex to sales ratio of 25.2% (21.5%).
• Reported EBITDA of 31 MNOK (49 MNOK).
• EBITDA margin percentage is 9.4% (13.6%).

Operational update

Tough market conditions and additional decline in sales of EV chargers

Decline in sales of EV chargers represent NOK 26 million

Gross margin percentage is being reduced mainly due to lower gross margin in Elbutik

Cost control in sales channels continues to be good

Further cost savings have been implemented in the quarter and will have full effect from September

Signed two agreements for start of roll out of franchise stores in Norway

Our first store in Sweden opened end of April

Private placement of NOK 120 million was conducted 14th of June

Elbutik Scandinavia

Q2 sales of NOK 30 million (32)

Reported EBITDA NOK -5 million (2)

Our store concept have been well received by both professional and consumer customers but visits are too low.

We need to learn from the market and make adjustments before we open more stores.

Increased sales and marketing activities are in place and we foresee improved sales and financial performance going forward.

Operational excellence and building brand and concept awareness are key priorities.

Namron SOB for Q2 is at 31.6% (Norway)

Sweden SOB 4.7%

We do not see the effect of lower freight costs in Q2 but expect to do so in Q3 and onwards

Work continues to increase SOB in Sweden and we see a much higher SOB in the physical store than online