Sandefjord, 31 August 2022: Komplett ASA has entered into an interim factoring
agreement with Resurs Bank AB.
At this stage, the agreement encompasses a limited number of customers to the
subsidiary Itegra, following periods of strong growth in the Distribution
segment.
The agreement is anticipated to have a gradual effect on net working capital as
from September. From the end of the fourth quarter, the agreement is expected to
yield improvements in net working capital in the range of NOK 300-400 million,
provided that a long-term agreement is entered into during the fourth quarter.
The Komplett Group has an existing collaboration with Resurs on the Flex
subscripton model launched in 2021.
SIBA Invest AB, a major shareholder of Komplett ASA since April 2022, is also a
major shareholder of Resurs Bank AB. For that reason, the agreement has been
handled as a related-party transaction and in accordance with the arm's length
principle.
For further inquiries, please contact:
Kristin Hovland, Head of Communication
Kristin.Hovland@komplett.com
Krister A. Pedersen, CFO
Krister.Pedersen@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 knowhow, expertise and deep
customer commitment. Komplett Group operates an efficient and scalable business
model that supports costs leadership and enables a competitive product offering.