Verkkokauppa.com (VERK) investor relations material

Executive summary

• Revenue grew 6.2% year-over-year to EUR 241.0 million for H1 2026, with Q2 revenue up 5.7% to EUR 123.1 million, driven by strong B2B and international sales despite muted consumer demand.

• Market share increased, outperforming the Finnish consumer electronics market, with online sales accounting for 71.5%–72.1% of revenue.

• Profitability improved due to operational efficiency and cost discipline, with EBIT rising to EUR 2.5 million in Q2 and net result at EUR 1.5 million.

• Fast delivery volumes rose 45% year-over-year, now 30% of online sales and surpassing one million cumulative orders.

• Customer base increased by 65% during the quarter, with expanded fast delivery coverage.

Financial highlights

• Q2 2026 revenue: EUR 123.1 million (Q2 2025: EUR 116.5 million); gross profit: EUR 20.5 million (Q2 2025: EUR 19.9 million); gross margin: 16.6%.

• EBIT for Q2: EUR 2.5 million (Q2 2025: EUR 2.0 million); net result: EUR 1.5 million; EBITDA: EUR 4.2 million.

• Equity ratio: 24.3%; gearing: 31.5%; cash and cash equivalents: EUR 27.8 million at end of June.

• Net debt at EUR 12.2 million; negative EUR 12.4 million excluding lease liabilities.

• Inventory turnover improved; inventory at EUR 69.9 million, slightly below prior year.

Outlook and guidance

• 2026 guidance unchanged: revenue and comparable operating result expected to increase versus 2025.

• Long-term targets: revenue CAGR above 5% (2026–2028), EBIT margin above 5% by end of 2028.

• Dividend policy: 60–80% of annual net profit paid in quarterly growing dividends.

• Early signs of consumer confidence recovery, but no material impact on Q2 consumption yet.

• Guidance subject to uncertainties in consumer behavior and purchasing power.