Torp Computing Group ASA

Business development/operations
Komplett’s contribution margin ratio was 13.7 per cent in 2Q 2007, up from 13.5 per cent in 2Q 2006 and
on a par with 1Q 2007. Excluding consumer financing, the contribution margin ratio would have been
13.0 per cent, compared with 13.3 per cent in 2Q 2006.
Total 2Q operating expenses (wages and other operating expenses) climbed by MNOK 27.6, from MNOK
40.6 to MNOK 68.2, compared with 2Q 2006. MNOK 12.7 refer to costs related to inWarehouse. Adjusted
for this, costs increased by MNOK 14.9.
The previously mentioned economisation initiatives have been implemented, but the most significant
improvement is expected when the company's new warehouse system becomes fully operational towards
the end of this year. The warehouse project is on schedule in terms of both time and costs. The
automatic warehouse system is now in the testing phase.
Komplett’s web shops have been given a new design and improved functionality. Emphasis has been
placed on further enhancing the customer experience by simplifying the design and shopping process, at
the same time as the pages load very quickly and can accommodate even more browsers/interfaces.
Komplett will continue to attach importance to offering the most user-friendly web shop possible, ensuring
regular improvements for our customers.
inWarehouse
At present, Komplett owns 98 per cent of the shares in inWarehouse AB; the company is engaged in a
forced buyout process with respect to the remaining shareholders. The inWarehouse share was struck
from the First North Exchange in Sweden on 29 May 2007.
Compared with the original plans, the process of integrating inWarehouse and Komplett has been
brought forward in certain areas, although full systemic integration will not be implemented until spring
2008. This has also led to certain changes in the organisation. The former CEO of inWarehouse
announced his resignation in June 2007, and Ole Sauar (formerly head of Komplett.se) was appointed to
head all Komplett’s operations in Sweden.
Excluding costs related to reorganisation/integration, inWarehouse is expected to make a favourable
contribution to the operating profit in the current year.
Torp Computing Group
On 18 June 2007, the boards of directors of Komplett and the Torp Computing Group announced the
conclusion of an integration agreement between the companies. This implies that the parties are
negotiating a plan for the merger of the two companies. The two boards of directors are expected to deal
with the merger plan in September 2007. It is expected that general meetings will be held in October
2007.
The boards of directors have proposed a conversion ratio of 1 share in Torp Computing Group being
equivalent to 0.336134 shares in Komplett. Komplett’s shareholders will thereby own 79.11 per cent while
Torp Computing Group's shareholders will own 20.89 per cent of the new company.
Torp Computing Group, which is quoted on the OTC (non-listed trade), has brought forward the
presentation of its 2Q 2007 accounts to facilitate publication on the same day as Komplett, i.e. 18 July
2007.
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