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SIGNIFICANT REVENUE GROWTH AND OPERATIONAL EFFICIENCY DROVE STRONG FINANCIAL PERFORMANCE Verkkokauppa.com Oyj January-September 2025 Interim Report 23 October 2025 | Panu Porkka, CEO
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Q3 2025 RESULTS 2 Operating environment Q3 2025 performance Strategy execution Market outlook and guidance Key takeaways 01 02 03 04 05
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OPERATING ENVIRONMENT 3
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Q3/2025 development CAUTIOUS CONSUMER SENTIMENT WITH GRADUAL RECOVERY IN SPECIALTY RETAIL AND CONSUMER ELECTRONICS MARKET 4 • Consumer confidence remained subdued, but early signs of recovery emerged through more positive personal financial expectations and growing intent to take loans* • GDP outlooks have been revised downwards, and weak private consumption persists, driven by unemployment concerns and elevated savings rates • Specialty retail returned to positive growth from the end of Q2, with full-year growth projected at approximately +1%* • The consumer electronics market showed modest growth in Q3, driven by a continued replacement cycle, particularly in the IT category** • Verkkokauppa.com maintained its market leadership with strong performance and further increased its market share compared to the same period last year** Consumer confidence in Finland Consumers’ expectation of unemployment development over the next 12 months Source: Statistics Finland 9/2023 10/2023 11/2023 12/2023 1/2024 2/2024 3/2024 4/2024 5/2024 6/2024 7/2024 8/2024 9/2024 10/2024 11/2024 12/2024 1/2025 2/2025 3/2025 4/2025 5/2025 6/2025 7/2025 8/2025 9/2025 9/2023 10/2023 11/2023 12/2023 1/2024 2/2024 3/2024 4/2024 5/2024 6/2024 7/2024 8/2024 9/2024 10/2024 11/2024 12/2024 1/2025 2/2025 3/2025 4/2025 5/2025 6/2025 7/2025 8/2025 9/2025 Source: *Statistics Finland, Erikoiskaupan Liitto ry **GFK, Consumer electronics in Finland Q3 (July -Sep) 2025 vs Q3 (July-Sep) 2024, excl. TV category.
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5 Q3 PERFORMANCE
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Q3/2025 development SIGNIFICANT REVENUE GROWTH IN ALL KEY STRATEGIC AREAS 6 Quarterly revenue (MEUR) Channel development (MEUR) Q3 2024 Q3 2025 114.2 131.2 +14.9% Q3 2024 Q3 2025 73.4 40.8 90.4 40.8 +23.1% Online Offline • Strong Q3 with double-digit growth: Revenue increased by 14.9% YoY to MEUR 131.2 (114.2), driven by broad-based strength across segments and categories • Key growth drivers: • Accelerated online momentum: Online sales grew by 23.1% YoY , representing 68.9% of total revenue • Strong customer segments: Consumer sales grew by 13.7%, while B2B delivered a 17.8% increase • New markets sales increased by 34.5%, backed by robust sales in Central Europe and Scandinavia • Sales of own brands increased by 7.4%, reinforcing margin resilience • Strong development across almost all categories, with IT emerging as the primary driver, driven by the Windows 11 transition
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Q3/2025 development Q3 2024 Q3 2025 14.5% 16.6% +2.1 pp Q3 2024 Q3 2025 16.6 21.8 +MEUR 5.2 GROSS PROFIT IMPROVED FOR THE FOURTH CONSECUTIVE QUARTER 7 • Gross profit improved for the fourth consecutive quarter, reflecting continued margin discipline and operational efficiency • Gross profit reached MEUR 21.8 (16.6), up MEUR 5.2 YoY • Gross margin remained solid at 16.6% (14.5%) Gross profit (MEUR) Gross margin % The gross margin was strengthened by: • Improved commercial terms, supporting profitability and partner alignment • Efficient inventory turnover • Successful assortment management, ensuring relevance and availability in key categories • Ongoing operational excellence, with systematic improvements across core activities
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EUR million Q3/2025 Q3/2024 Change Revenue 131.2 114.2 +14,9% Gross profit 21.8 16.6 +5.2 meur Personnel expenses 8.3 8.0 +4.4% Other operating expenses 7.9 6.9 +14.8% Comparable operating result 3.9 -0.7 +4.6 meur Operating result 7.2 0.1 +7.1 meur Result for the period 5.3 -0.3 +5.7 meur CONTINUED FOCUS ON EFFICIENCY DROVE PROFITABILITY IMPROVEMENT 8 Key figures Comparable operating result (MEUR) Q3/2025 development Q3 2024 Q3 2025 -0.7 3.9 +MEUR 4.6 Comparable EBIT (MEUR) • Profitability strengthened further, driven by significant revenue growth, solid gross margin, and continued improvement in operating efficiency • Comparable fixed costs increased by 6.8% from the previous year, driven by volume growth and strategic marketing initiatives, in line with the company's plan • Comparable operating result (EBIT) increased to 3.9 (-0.7) MEUR or 3.0% (-0.7%) of revenue • Operating result improved to MEUR 7.2 (0.1), or 5.5% (0.1%) of revenue, supported by the non-recurring gain from the sale of the consumer financing business
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Inventory (MEUR) INVENTORY OPTIMIZED TO SUPPORT GROWTH 9 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 65.3 51.1 65.9 70.3 72.5 • Inventory levels were optimized to EURM 72.5, reflecting current trading activity and the successful execution of the back-to-school campaign • Continued focus on inventory turnover and assortment management, ensuring relevance and availability across key categories to meet customer demand Q3/2025 development
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Cash flow from operations (MEUR) Investments (MEUR) Q3/2025 development STRONG FINANCIAL POSITION – SALE OF CONSUMER FINANCING BUSINESS COMPLETED 10 Q3 2024 Q3 2025 0.4 0.8 Q3 2024 Q3 2025 2.6 29.6 • Cash flow from operations reached MEUR 29.6 (2.6), primarily driven by the sale of the consumer financing business • Sale of consumer financing business to Norion Bank AB and its payment solutions unit, Walley, was completed for a final purchase price of MEUR 32.6, generating a non- recurring gain of MEUR 3.2. • Equity ratio improved to 21.1 percent (16.3%) • Cash at hand was 43.9 MEUR (17.1) at the end of September • Investments totaled MEUR 0.8 (0.4), focusing on IT infrastructure upgrades, operational efficiency improvements, and faster delivery capabilities.
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STRATEGY EXECUTION 11
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ONE-HOUR DELIVERIES CONTINUED TO INCREASE, COVERAGE EXPANDED TO REACH MORE CUSTOMERS 22/10/202512 Q3 2024 Q3 2025 +59% Quarterly volume of one-hour deliveries • One-hour deliveries continued to grow and were up by +59% YoY . We have now delivered more than 200 000 1-hour deliveries • NPS for 1-hour delivery customers remained strong at 78 • During the latter part of the period, 1-hour delivery coverage was expanded by approximately 300,000 people • The share of fast deliveries in all online orders grew to 24.5% in Q3 2025 (16.1% in Q3 2024)
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BROAD CATEGORY GROWTH REFLECTS SOLID EXECUTION IN OWN BRANDS 13 Q3 2024 Q3 2025 8.5 9.1 7.4% Revenue from own brands (MEUR) • In line with our strategic priorities, we continue to focus on growing our own brands to support gross margin improvement • Our target is to increase the share of own brands to 10% of revenue by the end of 2028 • In Q3, own brand sales grew by 7.4% from previous year, accounting for 6.9% (7.4%) of revenue. Growth was partially offset by the impact of heavy inventory clearance in Q3/24 • Growth was primarily driven by small domestic appliances and the IT category, with most categories showing positive development —highlighting strong execution across the portfolio
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EXPANSION INTO NEW MARKETS CONTINUES TO FUEL THE COMPANY’S GROWTH 14 • International sales grew by +34.5% YoY • Strong performance in Central Europe continued to be the main driver • Sweden delivered solid performance, with Amazon gaining momentum late in the quarter driven by various commercial actions: • Assortment expanded to 10,000 SKUs, offering customers greater choice • Product content enriched and optimized for improved discoverability and conversion • Ströme & Blackstorm brand stores launched, strengthening own brand presence and engagement on the platform Long-term strategy Our international expansion strategy focuses on deepening existing partnerships while unlocking new opportunities across Europe. This partner- driven approach allows us to scale efficiently by leveraging current investments and our balance sheet, minimizing the need for significant upfront capital.
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MARKET OUTLOOK AND GUIDANCE 15
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MARKET OUTLOOK 16 • The general market demand is expected to remain cautious during the remainder of the year due to uncertainties impacting the consumer confidence • Despite uncertainties, the private consumption is forecasted to recover as purchasing power strengthens. Purchasing power is supported by rising income levels, slowing inflation, and lower interest rates. • In general, competition is expected to remain tight and geopolitical environment to stay uncertain The company believes that: • It will be able to take advantage of the online shift of commerce and improve its market position in its chosen product categories • The customer shift to online will be permanent, and continuously more deliveries are made as fast deliveries
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GUIDANCE FOR 2025 - UNCHANGED 17 Verkkokauppa.com expects its revenue and comparable operating result for 2025 to increase. In 2024, the company's revenue was EUR 467.8 million and comparable operating result was EUR 1.8 million. Guidance includes uncertainties related to changes in purchasing power and consumer behavior. Verkkokauppa.com’s business is seasonal and the company’s revenue and operating profit depend largely on the sales in the fourth quarter.
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KEY TAKEAWAYS Q3 2025 18 Consumer confidence weakened further, and consumers were still cautious about purchasing discretionary products • Strong topline growth and market share gains • Profitability improved for the fourth consecutive quarter, reflecting continued operational efficiency and disciplined execution • Strategy execution proceeded as planned, fast deliveries growing consistently, increase in both own brand sales and new markets revenue • Sale of consumer financing business to Norion Bank AB and its payment solutions business unit Walley completed • Strong Q3 overall, the company is well prepared to capture opportunities as the market rebounds
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QUARTERLY KEY FIGURES 20
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MORE INFORMATION Jesper Blomster Chief Financial Officer jesper.blomster@verkkokauppa.com Elisa Forsman Head of Investor Relations & Corporate Communications elisa.forsman@verkkokauppa.com +358 44 206 6094 Upcoming Financial Events Investor Relations Contacts Date Event 12 February 2026 Financial statements bulletin for the year 2025 Week 11 2026 Annual reporting package for 2025, including the Report of the Board of Directors and the Financial Statements, Corporate Governance Statement and Remuneration Report 14 April 2026 AGM (virtual-only) 23 April 2026 Interim report for January – March 2026 16 July 2026 Half-year financial report for January – June 2026 22 October 2026 Interim report for January – September 2026 12 February 2027 Financial statements bulletin for the year 2026