Verkkokauppa.com (VERK) Q2 2025 earnings summary

Executive summary

• Revenue grew 10.4% year-over-year in Q2 2025 to €116.5 million, with strong gains in IT, entertainment, and international sales, and all channels contributing positively.

• Online sales grew 16% year-over-year, now representing 69.2% of revenue, with fast deliveries accounting for over 20% of online orders.

• Own brands outperformed the market, growing 21.8% in Q2 and now represent nearly 8% of total sales, mainly in TVs, home appliances, and IT accessories.

• Strategic focus on fast deliveries, online transformation, and operational efficiency, with investments in IT infrastructure.

• Signed agreement to sell consumer financing business to Norion Bank for approximately €34 million, expected to close in H2 2025, significantly improving the balance sheet.

Financial highlights

• Q2 2025 revenue: €116.5 million (+10.4% y/y); gross profit: €19.9 million (17.1% margin); EBIT: €1.8 million (1.5% margin); comparable EBIT: €2.0 million (1.7% margin).

• Net result for Q2: €1.0 million (from -€2.1 million); EPS: €0.02 (from -€0.05).

• Cash at hand was €16.1 million at end of June 2025; equity ratio improved to 18.3%.

• Operating cash flow for Q2: -€0.3 million; H1: -€15.0 million.

• Investments totaled €1.1 million in Q2, mainly for IT infrastructure and operational efficiency.

Outlook and guidance

• Revenue and comparable operating result expected to increase year-over-year, with guidance for 2025 unchanged.

• Market demand expected to remain cautious in H2 2025, but purchasing power is forecasted to recover as incomes rise and inflation slows.

• Price competition expected to intensify in the second half of the year; Q4 performance is critical due to seasonality.