Verkkokauppa.com (VERK) Q4 2025 earnings summary

Executive summary

• Q4 2025 revenue grew by 20.1% year-over-year to EUR 168.3 million, contributing to full-year revenue of EUR 526.5 million, up 12.5% year-over-year.

• Comparable EBIT for 2025 rose to EUR 14.8 million, with net income at EUR 12.4 million and EPS of EUR 0.27.

• Online sales momentum accelerated, with Q4 online revenue up 29.3% and representing 72.1% of total revenue.

• International sales surged by 88.8% in Q4 and 50.8% for the year, led by strong growth in Sweden and Central Europe.

• Board proposes a dividend of up to EUR 0.194 per share for FY2025, to be paid in four installments, with a payout ratio of 70.6%.

Financial highlights

• Q4 gross profit rose to EUR 27.4 million (up 18% year-over-year), with gross margin at 16.3%; full-year gross margin improved to 17.1%.

• Comparable operating result (EBIT) for Q4 reached EUR 5.8 million, or 3.4% of revenue.

• Full-year EBITDA was EUR 24.2 million, and operating cash flow was EUR 21.6 million.

• Cash at hand increased to EUR 47.3 million, and equity ratio improved to 23.1%.

• Sale of consumer finance business in September 2025 generated a one-time gain of EUR 3.2 million.

Outlook and guidance

• Revenue and comparable operating result for 2026 are expected to increase, though market recovery is anticipated to be gradual due to low consumer confidence.

• Guidance includes uncertainties related to consumer behavior, purchasing power, and seasonality.