The annual report states that the company has experienced negative earnings development in recent years, but this turned around in 2025. Market development, organizational changes, and business restructuring are cited as the primary reasons for the improved results. The company also writes that the Swedish market for construction and renovation has previously slowed down due to inflation and rising interest rates, but that interest rate cuts in 2025 appear to have steered the market in a positive direction.
Danish company takes over
The Norwegian parent company Elektroimportøren has experienced turbulent development, which has resulted in a change of ownership. After CEO Andreas Niss left his position and was replaced by Lars Tendal in May 2026, the group was acquired by the Danish company Brødrene A. & O. Johansen at the end of August. The buyer secured just over 92 percent of the shares, which led to Elektroimportøren being delisted from the Euronext Growth Oslo trading venue on September 1, 2026.
Regarding the Swedish operations, the parent company's report for the second quarter of 2026 shows a revenue growth of nearly 11 percent. Total Swedish revenue during the quarter amounted to 46.5 million Norwegian kroner, compared to 42 million during the same period last year. Sales to corporate customers (B2B) accounted for 10 million Norwegian kroner of this total.
Stores are costly
The growth is partly driven by the company's physical expansion in the country. The existing store in Veddesta generated a revenue of 10 million Norwegian kroner, while the newly opened store in Kungens Kurva, which opened its doors on May 25, contributed 2 million Norwegian kroner during its first month. At the same time, Swedish e-commerce accounted for the largest part of sales with 32 million Norwegian kroner.
The investment in the new store has had a certain impact on profitability in the short term. The gross margin for the Swedish market landed at 27.6 percent during the second quarter of the year, which is a marginal decrease from 27.9 percent during the corresponding quarter of 2025. According to the quarterly report, this decline is partly linked to costs for the establishment in Kungens Kurva. Despite the uncertain macroeconomic situation, the company's management states that they continue to see attractive opportunities in the Swedish market.