Verkkokauppa.com (VERK) Q1 2026 earnings summary

Executive summary

• Revenue grew 6.7% year-over-year to €117.9M in Q1 2026, driven by strong online, core category, and international sales, especially in Sweden.

• Operating profit (EBIT) declined to €2.4M (2.1% margin), with comparable EBIT at €2.5M.

• Net result was €1.6M, with EPS stable at €0.04.

• Operational efficiency, disciplined cost management, and a strategic focus on fast deliveries and international expansion supported stable performance.

• Strong liquidity and balance sheet enabled continued investment in growth and operational capabilities.

Financial highlights

• Gross profit was €20.4M, with gross margin declining to 17.3% from 18.8%, impacted by divestment of consumer finance and price competition.

• EBITDA was €4.2M (3.6% margin), down from €4.9M (4.4%) a year earlier.

• Operating cash flow was -€17.2M, mainly due to inventory increases.

• Cash and cash equivalents stood at €28.3M; equity ratio improved to 24.7% from 17.9%.

• Investments totaled €0.7M, focused on systems and internationalization.

Outlook and guidance

• Guidance for 2026 is unchanged: revenue and comparable EBIT expected to increase versus 2025 (€526.5M revenue, €14.8M comparable EBIT).

• Market demand is expected to recover gradually in 2026 as consumer confidence remains subdued.

• Outlook remains subject to geopolitical risks, macroeconomic uncertainty, and changes in consumer behavior.

• Business remains highly seasonal, with Q4 being critical for annual results.