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 market share gains and strategic focus on own brands, new markets, and fast deliveries.

• EBIT improved to €1.8 million in Q2 (from -€2.0 million), with profitability rising for the third consecutive quarter.

• Net income was €1.0 million in Q2 (from -€2.1 million); EPS €0.02 in Q2.

• Agreement to sell consumer finance business to Norion Bank AB for ~€34 million, expected to close in H2 2025 and result in a non-recurring gain.

• International sales up 40.5% in Q2, with market recovery led by IT and entertainment categories.

Financial highlights

• Gross profit increased to €19.9 million in Q2, with gross margin improving to 17.1% (from 16.4%).

• Online sales grew 16% in Q2, now representing 69.2% of revenue.

• Consumer sales rose 10.6% and B2B sales 10% year-over-year in Q2.

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

• Fixed costs decreased 4.9% in Q2 year-over-year.

Outlook and guidance

• Guidance for 2025 unchanged: revenue and comparable operating result expected to increase versus 2024.

• Market demand expected to remain cautious in H2 2025, but purchasing power is forecasted to recover.

• Business remains seasonal, with Q4 being critical for revenue and profit.

• Long-term targets: >5% annual revenue growth, EBIT margin >5% by 2028, fixed costs <10% of revenue, and 60–80% of net profit as dividends.