The e-commerce giant Komplett had a tough Q1. Turnover fell by NOK 372 million, compared to last year. In total, sales amounted to NOK 3.245 billion.
During the first quarter, we made good progress with our long-term growth and profitability initiatives, but challenging markets continue to affect our financial results in the short term, says Jaan Ivar Semlitsch, president and CEO of Komplett ASA.
At the same time, the operating result (EBITA) goes from 9 million Norwegian kroner, last year, to -40 million in Q1 2024.
Unlike, for example, Swedish Dustin, which is big in business sales, Komplett is the largest in B2C, which accounts for 70 percent of turnover. Only 11 percent are B2B sales. When it comes to different markets, Sweden and Norway account for basically half each of Komplett’s sales. This after Komplett bought up Netonnet and Webhallen.
So what does Komplett say about Sweden? The giant notes that revenues in local currency decreased by 9.4 percent in Norway and by 12.5 percent in Sweden.
In Sweden, the market for home electronics continued to be weak in most categories, says Jaan Ivar Semlitsch.
And the cost savings and optimizations now continue.
The process of closing five Webhallen stores was completed in January 2024. Further cost savings are being implemented in both Norway and Sweden to compensate for volume reductions and continued inflationary pressure, the company writes in its interim report.
Sweden accounted for a turnover of NOK 1.633 billion in the first quarter of this year, compared to NOK 1.819 billion the year before.
