Komplett reports on “difficult start to the year” – E24

Turnover fell by ten percent for the online shopping company.

Komplett Group had revenues of NOK 3.245 billion in the first quarter, down from NOK 3.618 billion in the same period last year.

Profit before tax fell from minus NOK 53 to minus NOK 89 million.

The results were affected by falling demand and increasing competition, according to the company.

In the period from December last year, the competition has intensified further and led to increased campaign activity and pressure on the margins, they write further.

However, Komplett’s gross margin increased somewhat, from 14.1 to 15.0 per cent. The company writes that it is attributed to “sales and purchasing improvements”.

Going forward, the online shopping company believes in better conditions.

– Increased expected purchasing power among consumers is expected to have a positive effect in the second half of the year, and cost measures and sales efforts are expected to have an increasing effect throughout the year, says CEO Jaan Ivar Semlitsch in a press release.

Two years ago it became known that Komplett and NetOnNet are merging. The two brand names now exist separately under Komplett Group.

In April, NetOnNet opened their largest physical store in Norway to date. It is located in Stavanger. The company has also signed an agreement to open a new store in another unnamed large Norwegian city.