Verkkokauppa.com Oyj: Strong performance in a cautiously recovering market
HALF-YEAR REPORT for 1 January, 30 June 2025
Verkkokauppa.com Oyj: Strong performance in a cautiously recovering market
Verkkokauppa.com Oyj HALF-YEAR REPORT 17 July 2025, 8:00 a.m. EET
Unless otherwise stated, the comparison figures in brackets refer to the corresponding period in the previous year (reference period). Figures are unaudited.
April–June 2025 in brief
Revenue grew by 10.4 percent and was EUR 116.5 million (105.5)
Gross profit was EUR 19.9 million (17.3) and gross margin 17.1 percent (16.4%)
Operating result (EBIT) was EUR 1.8 million (-2.0) or 1.5 percent of revenue (-1.9%)
Comparable operating result (comparable EBIT) was EUR 2.0 million (-1.7) or 1.7 percent of revenue (-1.6%)
Items affecting comparability were EUR -0.2 million (-0.3)
Result for the period was EUR 1.0 million (-2.1)
Earnings per share were EUR 0.02 (-0.05)Investments were EUR 1.1 million (0.6)
Operating cash flow was EUR -0.3 million (2.2)
Verkkokauppa.com signed an agreement to sell its consumer financing business. The preliminary purchase price is approximately EUR 34 million.
January–June 2025 in brief
Revenue grew by 6.3 percent and was EUR 227.0 million (213.5)
Gross profit was EUR 40.7 million (35.9) and gross margin 17.9 percent (16.8%)
Operating result (EBIT) was EUR 5.0 million (-2.4) or 2.2 percent of revenue (-1.1%)
Comparable operating result (comparable EBIT) was EUR 5.2 million (-1.2) or 2.3 percent of revenue (-0.6%)
Items affecting comparability were EUR -0.2 million (-1.2)
Result for the period was EUR 3.0 million (-3.1)
Earnings per share were EUR 0.07 (-0.07)
Investments were EUR 1.4 million (0.9)
Operating cash flow was EUR -15.0 million (-10.8)
KEY RATIOS
4-6/2025
4-6/2024
Change
1-6/2025
1-6/2024
Change
1-12/2024
Eur million
Revenue
116.5
105.5
10.4
%
227.0
213.5
6.3
%
467.8
Gross profit
19.9
17.3
2.6
MEUR
40.7
35.9
4.8
MEUR
75.8
Gross margin, %
17.1%
16.4%
0.7
pp
17.9%
16.8%
1.1
pp
16.2%
EBITDA
3.4
-0.2
3.7
MEUR
8.3
1.1
7.3
MEUR
7.5
EBITDA, %
3.0%
-0.2%
3.2
pp
3.7%
0.5%
3.2
pp
1.6%
Operating result
1.8
-2.0
3.7
MEUR
5.0
-2.4
7.4
MEUR
0.6
Operating margin, %
1.5%
-1.9%
3.4
pp
2.2%
-1.1%
3.3
pp
0.1%
Comparable operating result
2.0
-1.7
3.7
MEUR
5.2
-1.2
6.4
MEUR
1.8
Comparable operating margin, %
1.7%
-1.6%
3.3
pp
2.3%
-0.6%
2.9
pp
0.4%
Result for the period
1.0
-2.1
3.0
MEUR
3.0
-3.1
6.0
MEUR
-0.8
Investments
1.1
0.6
0.5
MEUR
1.4
0.9
0.4
MEUR
1.8
Operating cash flow
-0.3
2.2
-2.5
MEUR
-15.0
-10.8
-4.2
MEUR
12.9
FINANCIAL GUIDANCE FOR 2025
Verkkokauppa.com expects its revenue and comparable operating result for 2025 to increase. In 2024, the company's revenue was EUR 467.8 million and comparable operating result was EUR 1.8 million.
Guidance includes uncertainties related to changes in purchasing power and consumer behavior. Verkkokauppa.com's business is seasonal and the company's revenue and operating profit depend largely on the sales in the fourth quarter.
CEO PANU PORKKA'S REVIEW
The operating environment showed cautious signs of recovery, and the electronics market grew in the second quarter. General wage increases and favorable development in key interest rates bolstered purchasing power. However, consumer confidence and purchase intentions remained subdued, reflecting ongoing uncertainty in the operating environment.
Verkkokauppa.com demonstrated strong performance, driving overall market growth and strengthening its market share. Revenue continued to grow in the second quarter and was 116.5 million euros (105.5), increasing by 10 percent compared to the previous year. Revenue growth was particularly strong in the company's strategic focus areas of e-commerce and new markets. The company's key categories entertainment and IT continued to grow as anticipated. TV category was boosted by the transition to high-definition broadcasts in Finland. In IT category, strong computer sales were driven by both successful commercial measures and a start of replacement cycles towards the end of the reporting period. Own brands' sales grew by 22 percent in the reporting period.
Systematic efforts to enhance operating efficiency supported positive profitability development. Gross margin increased to 17.1 percent (16.4%), remaining on a high level due to successful assortment management and better commercial terms. Comparable fixed costs decreased as planned by 5 percent from the previous year. The company's profitability continued to improve with comparable operating result increasing to 2.0 million euros (-1.7 million euros), representing 1.7 percent (-1.6%) of revenue.
The strategy implementation is progressing as planned. The importance of fast deliveries further strengthened, shifting purchases to online. The share of online sales remained high, reaching 69 percent of total revenue during the reporting period. Customer satisfaction with fast deliveries remained excellent, and the number of fast deliveries increased by over 60 percent. New market openings are supporting the company's growth, and sales in Central Europe and Scandinavia grew strongly.
During the reporting period, the company signed an agreement to sell its consumer finance business to Norion Bank AB. The arrangement supports both the company's growth targets and long-term plans. The transaction is expected to be completed in the second half of the year and will significantly improve the company's balance sheet structure.
The company is in a strong position to continue profitable growth as the market situation further improves.
FINANCIAL DEVELOPMENT REVENUE AND PROFITABILITY
EUR million
4-6/2025
4-6/2024
Change
1-6/2025
1-6/2024
Change
1-12/2024
Revenue
116.5
105.5
10.4
%
227.0
213.5
6.3
%
467.8
Operating result
1.8
-2.0
3.7
MEUR
5.0
-2.4
7.4
MEUR
0.6
Operating margin, % of revenue
1.5%
-1.9%
3.4
pp
2.2%
-1.1%
3.3
pp
0.1%
Items affecting comparability
-0.2
-0.3
0.0
