Verkkokauppa.com (VERK) Q3 2025 earnings summary

Executive summary

• Revenue grew 14.9% year-over-year in Q3 2025 to €131.2 million, with strong gains across all channels, segments, and categories, including a successful back-to-school campaign.

• Profitability improved for the fourth consecutive quarter, driven by operational efficiency and disciplined execution.

• Market share increased, maintaining leadership in specialty retail and consumer electronics, with significant gains in Finland despite stagnant GDP and low consumer confidence.

• International sales surged by 34.5%, led by Central Europe and the Nordics, especially Sweden.

• Sale of the consumer financing business completed for €32.6 million, generating a non-recurring gain of €3.2 million and strengthening the balance sheet.

Financial highlights

• Q3 2025 revenue reached €131.2 million, up 14.9% year-over-year, with core consumer online sales up 23.1%.

• Gross margin improved to 16.6% (from 14.5%), with gross profit at €21.8 million.

• Comparable operating result (EBIT) was €3.9 million (3.0% margin), and reported EBIT was €7.2 million, supported by a non-recurring gain.

• Cash flow from operations surged to €29.6 million, mainly due to the business sale; cash at hand at period end was €43.9 million.

• Equity ratio improved to 21.1% from 16.3% YoY; gearing turned negative to -3.0%.

Outlook and guidance

• Revenue and comparable operating profit are expected to increase from previous year levels; no change to guidance.

• Market demand expected to remain cautious, with seasonality and consumer behavior as key uncertainties.

• Private consumption is forecasted to recover as purchasing power strengthens, but Q4 remains critical due to seasonality.