Torp Computing Group ASA

Trend, active customers (number) 1Q 2007 1Q 2006 Change
Komplett.no 234 614 220 789 13 825
Komplett.se/.dk 133 818 93 735 40 083
Komplett.co.uk/.ie 75 454 78 651 -3 197
Komplett.nl/.be 18 018 13 960 4 058
Komplett.de/.at/.fr 7 220 0 7 220
Norek.no 4 821 4 663 158
Total 473 945 411 798 62 147
The number of active customers expanded by 473 945 during the quarter and the Group filled a total of
263 137 orders.
Segmental information
Komplett's activities in Scandinavia reported an increase of MNOK 583 (+ 18 per cent) in sales during the
quarter and an EBIT of MNOK 19.3 (-20 per cent). Outside Scandinavia, sales came to MNOK 77 (+19
per cent), with an EBIT of MNOK -0.5 (+71 per cent).
At the end of 1Q 2007, Komplett had a lending portfolio consumer financing totalling MNOK 76.7 and
divided among 10 005 customers. The portfolio is divided among private customers in Norway (launched
4Q 2005) and Sweden (launched 3Q 2006). In 1Q, the company posted a favourable EBIT of MNOK 2.3
in the consumer financing segment.
Sales (MNOK) 1Q 2007 1Q 2006 Change
Scandinavia 583.1 494.8 88.3
Outside Scandinavia 76.6 64.3 12.3
Consumer financing 4.3 0.7 3.6
Not allocated -0.7 0.0 -0.7
Total 663.3 559.8 103.5
EBIT (MNOK) 1Q 2007 1Q 2006 Change
Scandinavia 19.3 24.1 -4.8
Outside Scandinavia -0.5 -1.7 1.2
Consumer financing 2.3 -0.3 2.6
Not allocated -1.1 -0.7 -0.4
Total 20.0 21.4 -1.4
Business Development/operations
Komplett’s contribution margin ratio was 13.7 per cent in 1Q 2007, which was on a par with 4Q 2006.
Excluding consumer financing, the contribution margin ratio would have been 13.1 per cent, compared
with 13.6 per cent in the same quarter of 2006. The difference is ascribable to aggressive sales
campaigns during the period, as well as to sales growth in product groups and sales channels which
have lower contribution margin ratios.
Total operating expenses (wages and other operating expenses) during the quarter were up MNOK 15.2
(+29 per cent), from MNOK 52.6 to MNOK 67.8, compared with the same quarter of 2006.
The company's cost of labour was about the same as in 4Q 2006, but increased by MNOK 9.5 from 1Q
2006. This is primarily attributable to three factors:
• More manpower in response to higher sales.
• Double costs in connection with automation of the Nordic warehouse.
• Abnormally high short-term absence during the period.
The combination of these three factors further exacerbated the situation, entailing more use of temporary
staff and overtime.
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