Interim report
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I N T E R I M R E P O R T J A N U A R Y Ŕ S E P T E M B E R 2 0 2 6
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Interim report for 1 January–30 September 2026 1 I N T E R I M R E P O R T F O R 1 J A N U A R Y– 3 0 S E P T E M B E R 2 0 2 6 | 2 2 O C T 2 0 2 6 , 8 : 0 0 A . M . E E S T Verkkokauppa.com Oyj: Improved profitability in a competitive market Unless otherwise stated, comparison figures in brackets refer to the corresponding period last year. Figures are unaudited. J U L Y – S E P T E M B E R 2 0 2 6 I N B R I E F • Revenue grew by 2.1 percent and was EUR 133.9 million (131.2) • Gross profit was EUR 22.3 million (21.8) or 16.7 percent of revenue (16.6%) • Operating result (EBIT) was EUR 4.7 million (7.2) or 3.5 percent of revenue (5.5%) • Comparable operating result (comparable EBIT) was EUR 4.7 million (3.9) or 3.5 percent of revenue (3.0%) • Items affecting comparability were EUR 0.0 million (3.3). In the comparison period, items affecting comparability related to the non-recurring gain from the sale of the consumer financing business • Result for the period was EUR 3.5 million (5.3) • Earnings per share were EUR 0.08 (0.12) • Investments were EUR 0.5 million (0.8) • Operating cash flow was EUR 2.6 million (29.6) • The Board decided to distribute the third installment of a quarterly dividend of EUR 0.049 per share J A N U A R Y – S E P T E M B E R 2 0 2 6 I N B R I E F • Revenue grew by 4.7 percent and was EUR 374.9 million (358.2) • Gross profit was EUR 63.2 million (62.5) or 16.9 percent of revenue (17.4%) • Operating result (EBIT) was EUR 9.6 million (12.2) or 2.6 percent of revenue (3.4%) • Comparable operating result (comparable EBIT) was EUR 9.6 million (9.1) or 2.6 percent of revenue (2.5%) • Items affecting comparability were EUR -0.0 million (3.1) • Result for the period was EUR 6.6 million (8.3) • Earnings per share were EUR 0.15 (0.18) • Investments were EUR 2.0 million (2.2) • Operating cash flow was EUR -7.8 million (14.6) K E Y R A T I O S ( M E U R ) 7–9/2026 7–9/2025 CHANGE 1–9/2026 1–9/2025 CHANGE 1–12/2025 Revenue 133.9 131.2 2.1% 374.9 358.2 4.7% 526.5 Gross profit 22.3 21.8 0.6 MEUR 63.2 62.5 0.7 MEUR 89.9 Gross margin, % 16.7% 16.6% 0.1 pp 16.9% 17.4% -0.6 pp 17.1% EBITDA 6.4 8.9 -2.5 MEUR 14.9 17.3 -2.4 MEUR 24.2 EBITDA, % 4.8% 6.8% -2.0 pp 4.0% 4.8% -0.8 pp 4.6% Operating result 4.7 7.2 -2.5 MEUR 9.6 12.2 -2.6 MEUR 17.4 Operating margin, % 3.5% 5.5% -2.0 pp 2.6% 3.4% -0.8 pp 3.3% Comparable operating result 4.7 3.9 0.8 MEUR 9.6 9.1 0.5 MEUR 14.8 Comparable operating margin, % 3.5% 3.0% 0.5 pp 2.6% 2.5% 0.1 pp 2.8% Result for the period 3.5 5.3 -1.8 MEUR 6.6 8.3 -1.7 MEUR 12.4 Investments 0.5 0.8 -0.3 MEUR 2.0 2.2 -0.2 MEUR 3.2 Operating cash flow 2.6 29.6 -27.0 MEUR -7.8 14.6 -22.4 MEUR 21.6
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Interim report for 1 January–30 September 2026 2 F I N A N C I A L G U I D A N C E F O R 2 0 2 6 ( U N C H A N G E D ) Verkkokauppa.com expects its revenue and comparable operating result for 2026 to increase. In 2025, the company's revenue was EUR 526.5 million and comparable operating result was EUR 14.8 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 result depend largely on the sales in the fourth quarter. C E O P A N U P O R K K A ' S R E V I E W Growth continued, driven by international sales and B2B Revenue grew by 2.1 percent to EUR 133.9 million (131.2), supported by strong growth in international sales and B2B sales. International sales increased across all key markets, with the strongest growth in Sweden, while B2B sales delivered another quarter of double-digit growth. Consumer sales declined slightly due to a strong comparison period, intense competition, and continued caution among households. Despite this, the number of active customers reached a record level, underlining the strength of our customer base. Improved profitability, supported by underlying gross margin expansion Gross margin rose to 16.7 percent ( 16.6%). The comparison period still included income from the consumer financing business divested in September 2025, making the year -on-year improvement notable. The improvement was driven by dynamic pricing , better supplier terms, well-timed purchasing, focused category management, and significantly improved own brand profitability. Operating expenses as a share of revenue decreased again year-on-year, and our operating model continued to turn growth into profitability. Comparable operating result rose to EUR 4.7 million (3.9), or 3.5 percent (3.0%) of revenue. Steady progress in executing our strategy International revenue grew by 4 1 percent year-on-year. Revenue in Sweden doubled year -on-year, with growth spread evenly between marketplaces and our own channel. In Central Europe, our largest customer accounts continued to expand. Fast delivery volumes increased by 27 percent year-on-year and the number of customers using the service kept rising. During the quarter, we made fast deliveries available to approximately 100,000 more consumers by extending coverage to new areas in the Greater Helsinki region and its commuter belt. The service now also covers heavy and bulky items, such as major domestic appliances. In addition, we completed our first next-day deliveries to Stockholm, extending fast delivery capabilities beyond Finland. External recognition of our brand continued. In this year's Brand Valuation Study, which covers 350 Finnish brands, Verkkokauppa.com was the highest-ranked specialty retailer in the country , placing first in consumer electronics by a clear margin and sixth among all retailers . Recognition of this kind reflects the trust we have built with customers. The improved profitability and continued execution of our strategy demonstrate that we are advancing toward our 2028 financial targets in line with plan. Preparing for the peak season The most important quarter of the year lies ahead. Our peak season preparations have progressed as planned, and we are well prepared. Our focus is on disciplined execution and continued progress toward our long -term targets.
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Interim report for 1 January–30 September 2026 3 F I N A N C I A L D E V E L O P M E N T Revenue and profitability K E Y R A T I O S ( M E U R ) 7–9/2026 7–9/2025 CHANGE 1–9/2026 1–9/2025 CHANGE 1–12/2025 Revenue 133.9 131.2 2.1% 374.9 358.2 4.7% 526.5 Operating result 4.7 7.2 -2.5 MEUR 9.6 12.2 -2.6 MEUR 17.4 Operating margin, % of revenue 3.5% 5.5% -2.0 pp 2.6% 3.4% -0.8 pp 3.3% Items affecting comparability - 3.3 -3.3 MEUR -0.0 3.1 -3.1 MEUR 2.5 Comparable operating result 4.7 3.9 0.8 MEUR 9.6 9.1 0.5 MEUR 14.8 Comparable operating margin, % of revenue 3.5% 3.0% 0.5 pp 2.6% 2.5% 0.1 pp 2.8% Revenue distribution R E V E N U E ( M E U R ) 7–9/2026 7–9/2025 CHANGE, % 1–9/2026 1–9/2025 CHANGE, % 1–12/2025 Customer segments¹ Consumers 91.8 94.8 -3.2% 250.1 250.5 -0.2% 369.6 B2B (incl. wholesale) 42.1 36.4 15.6% 124.8 107.7 15.9% 157.0 Sales channels Online 95.1 90.4 5.2% 268.9 245.2 9.7% 366.5 Offline 38.8 40.8 -4.8% 106.0 113.0 -6.2% 160.0 Product categories Core categories² 113.9 110.1 3.4% 319.9 296.8 7.8% 436.1 Other product categories 20.0 21.0 -5.1% 55.0 61.4 -10.4% 90.4 Own brands³ 8.7 9.1 -4.3% 23.0 25.6 -9.9% 35.2 % O F T O T A L R E V E N U E 7–9/2026 7–9/2025 CHANGE, PP 1–9/2026 1–9/2025 CHANGE, PP 1–12/2025 Customer segments¹ Consumers 68.6% 72.2% -3.7 66.7% 69.9% -3.2 70.3% B2B (incl. wholesale) 31.4% 27.8% 3.7 33.3% 30.1% 3.2 29.7% Sales channels Online 71.0% 68.9% 2.1 71.7% 68.5% 3.3 69.6% Offline 29.0% 31.1% -2.1 28.3% 31.5% -3.3 30.4% Product categories Core categories² 85.1% 84.0% 1.1 85.3% 82.9% 2.5 82.8% Other product categories 14.9% 16.0% -1.1 14.7% 17.1% -2.5 17.2% Own brands³ 6.5% 6.9% -0.4 6.1% 7.1% -1.0 6.7% W E B S I T E V I S I T S 7–9/2026 7–9/2025 CHANGE, % 1–9/2026 1–9/2025 CHANGE, % 1–12/2025 Website visits, million 21.9 19.5 12.6% 60.3 55.4 8.9% 83.2 ¹ The customer segment figures have been corrected to reflect a reclassification of certain customer groups from B2B to Consumers. ² Core categories include five main categories: IT, Entertainment, Mobile devices, Small domestic appliances (SDA), and Major domestic appliances (MDA). ³ Own brands are included in core and other product categories accordingly.
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Interim report for 1 January–30 September 2026 4 J U L Y – S E P T E M B E R 2 0 2 6 Operating environment The broader Finnish economy continued to strengthen during the re view period, and the GDP growth outlook for 2026 was revised upwards (Bank of Finland). Consumer confidence improved during the summer to its highest level in several years, before easing somewhat in September (Statistics Finland). Despite stronger confidence, household purchasing power remained under pressure, with elevated energy costs and higher interest rates adding uncertainty. As improving sentiment typically reaches consumer electronics with a delay, the market remained challenging and discretionary spending stayed subdued . In this environment, Verkkokauppa.com ’s sales developed in line with the market (GfK). Revenue Revenue increased by 2.1 percent to EUR 133.9 million ( 131.2), driven by continued strong development in international sales and B2B. Among product categories, growth was strongest in mobile devices. Consumer sales decreased by 3.2 percent to EUR 91.8 million (94.8), accounting for 68.6 percent of revenue (72.2%). Sales were weighed down by continued softness in consumer demand, particularly in discretionary product categories, a strong comparison period, and intense competition throughout the review period. B2B sales increased by 15.6 percent to EUR 42.1 million (36.4), accounting for 31.4 percent (27.8%) of revenue. IT remained the largest B2B category, followed by mobile devices, and both grew in value and volume. Higher average selling prices also supported growth in euro terms. Growth was supported by the same strengths that drive Verkkokauppa.com's consumer business: a broad assortment, competitive pricing, high product availability, fast deliveries, and strong service capability. Online sales grew by 5.2 percent to EUR 95.1 million (90.4), increasing the share of online sales to 71.0 percent of revenue ( 68.9%). Growth was supported by an increase in website traffic and the continued adoption of fast delivery options among customers. Store sales declined by 4.8 percent to EUR 38.8 million (40.8), reflecting the continued shift toward online channels. The share of store sales decreased to 29.0 percent of revenue (31.1%). Core categories' sales grew by 3.4 percent to EUR 113.9 million (110.1), accounting for 85.1 percent of revenue (84.0%). Growth was driven by mobile devices, while IT sales declined from a strong comparison period. Sales in other product categories declined by 5.1 percent to EUR 20.0 million (21.0), representing 14.9 percent of revenue (16.0%). Own brand sales declined by 4.3 percent to EUR 8.7 million (9.1). The share of own brand sales of revenue was 6.5 percent (6.9%). The decline was due to an exceptionally strong comparison period, when the HD transition boosted television sales. Excluding televisions, however, own brand sales grew in several categories, led by successful air conditioner sales and strong demand in the mobile devices category. International own brand sales also reached a record high. Result Gross margin increased to 16.7 percent ( 16.6%), despite the comparison period still including income from the consumer financing business divested in September 2025. The improvement was driven by dynamic pricing, better supplier terms, well-timed purchasing, focused category management , and significantly improved own brand profitability. Personnel expenses increased by 1.3 percent and amounted to EUR 8.4 million (8.3). Other operating expenses decreased by 2.3 percent and amounted to EUR 7.7 million (7.9). The development was supported by a lighter cost base following the divestment of the consumer financing business and disciplined cost management. Verkkokauppa.com's operating result (EBIT) decreased by EUR 2.5 million to EUR 4.7 million ( 7.2) as the comparison period included the impact of the consumer financing business sold in September 2025. Comparable operating result (comparable EBIT) increased by EUR 0.8 million to EUR 4.7 million (3.9). Result for the period amounted to EUR 3.5 million (5.3). Earnings per share were EUR 0.08 (0.12).
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Interim report for 1 January–30 September 2026 5 J A N U A R Y – S E P T E M B E R 2 0 2 6 Revenue Revenue increased by 4.7 percent to EUR 374.9 million (358.2). Growth was driven by strong performance in small and major domestic appliances, computers, and mobile devices. International sales increased across all key markets, with Sweden delivering the strongest growth. Consumer sales decreased by 0.2 percent to EUR 250.1 million (250.5). The share of consumer sales decreased to 66.7 percent of revenue ( 69.9%). Consumer demand remained soft throughout the January–September period , particularly in discretionary product categories. B2B sales developed strongly, growing by 15.9 percent to EUR 124.8 million ( 107.7). The share of B2B sales increased to 33.3 percent of revenue ( 30.1%), reflecting resilient demand from business customers and international growth. Growth was driven by a broad assortment, competitive pricing, high product availability, fast deliveries, and strong service capability. Continued demand in the IT category also contributed to development. Online sales grew by 9.7 percent to EUR 268.9 million (245.2), increasing the share of online sales to 71.7 percent of revenue (68.5%). Development was supported by an increase in website traffic and the growing popularity of fast delivery options. Store sales declined by 6.2 percent to EUR 106.0 million ( 113.0), as the shift toward online channels continued. The share of store sales decreased to 28.3 percent of revenue (31.5%). Core categories' sales grew by 7.8 percent to EUR 319.9 million (296.8). The share of core categories increased to 85.3 percent of revenue ( 82.9%). Growth was broad -based across product categories and was supported in particular by strong demand for domestic appliances and mobile devices . Sales in other product categories declined by 10.4 percent to EUR 55.0 million (61.4), representing 14.7 percent of revenue (17.1%). Own brand sales declined by 9.9 percent to EUR 23.0 million (25.6). The share of own brand sales of revenue was 6.1 percent (7.1%). The development was weighed down by last year's HD transition, which particularly boosted own brand television sales and created an exceptionally strong comparison period. Result Gross margin declined year -on-year to 16.9 percent ( 17.4%), reflecting a comparison against an exceptionally strong prior -year first quarter and the divestment of the consumer financing business in September 2025. In addition, during the review period, a highly campaign-driven market environment and softening consumer demand intensified price competition. Personnel expenses increased by 1.4 percent and amounted to EUR 26.0 million (25.6). Other operating expenses decreased by 2.7 percent and amounted to EUR 22.9 million (23.5). The decrease was supported by a lighter cost base following the divestment of the consumer financing business and disciplined cost management. Verkkokauppa.com's operating result (EBIT) decreased by EUR 2.6 million to EUR 9.6 million (12.2). Comparable operating result (comparable EBIT) increased by EUR 0.5 million to EUR 9.6 million (9.1). Result for the period amounted to EUR 6.6 million (8.3). Earnings per share were EUR 0.15 (0.18). F I N A N C E A N D I N V E S T M E N T S In January–September 2026, operating cash flow totaled EUR -7.8 million (14.6). The operating cash flow before the change in working capital was EUR 14.9 million (17.5). The company's net financial expenses were EUR -1.3 million (-1.7). Investments in January–September 2026 were EUR 2.0 million (2.2) and were mainly related to system investments aimed at strengthening operational efficiency as well as to projects supporting international expansion. During the period, investments included capitalized wages and salaries at the amount of EUR 0.9 million (0.7). In June, the company re financed its debt facilities by signing a EUR 15 million bank loan and a EUR 20 million revolving credit facility, both with three -year maturities. The term loan is repayable at maturity, and the facilities include two one-year extension options. The revolving credit facility was undrawn at the end of September.
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Interim report for 1 January–30 September 2026 6 P E R S O N N E L At the end of September 2026, the total number of employees was 589 (591). This includes both full- and part-time employees. C O R P O R A T E S U S T A I N A B I L I T Y In line with its Sustainability Program, Verkkokauppa.com continued to promote its key sustainability themes: supporting the product lifecycle, environmental and social responsibility in operations and supply chains, employee well-being and competence, and responsible business practices. Sales of circular products and services grew clearly year-on-year, driven particularly by used products. The product categories covered by the trade-in service were expanded through a partner pilot. Verkkokauppa.com's return rate remained below 1 percent, in line with the target. During the review period, Verkkokauppa.com conducted the Electronics Sustainability Barometer survey for the third time, tracking Finnish consumers' views on electronics, e -commerce, and sustainability. The development of employees' AI capabilities continued through training, pilots , and on-the-job learning. At the same time, Verkkokauppa.com promoted occupational safety, a diverse workplace, and the development of practices supporting responsible business conduct. Verkkokauppa.com will prepare its sustainability review for 2026 on a voluntary basis, in alignment with the European Sustainability Reporting Standards (ESRS) to the extent conside red relevant. The sustainability review will not be subject to external assurance. S T R A T E G Y Verkkokauppa.com's vision is to create a new normal for buying and owning products and to act as a market forerunner in online retail. Verkkokauppa.com strengthens its market position by accelerating the shift to online shopping, enabled by industry-leading delivery speed and a customer-centric operating model. The strategy is built on four cornerstones: Fastest Fulfillment, Operational Excellence, Curated Assortment, and New Business Models. Together, these elements support profitable growth that outpaces the market, expansion into selected categories and geographies, and continuous development of the assortment and services. Rapid and reliable deliveries accelerating the online transition Verkkokauppa.com focuses on providing seamless and convenient online shopping experiences that support the transition from traditional retail to e-commerce. Key priorities include delivery speed, improving predictability, and ensuring operational reliabili ty across the fulfillment network. Fast and flexible delivery capabilities form a core competitive advantage and support high customer satisfaction, efficient logistics, and scalable growth. Strong focus on core categories with selective expansion Verkkokauppa.com concentrates on its core categories – electronics and home appliances – ensuring a competitively priced and well -available assortment optimized for fast and efficient delivery. The assortment strategy emphasizes relevance, quality, and com mercial effectiveness. In addition, Verkkokauppa.com develops its own brands to strengthen differentiation and support margin development, while selectively expanding into complementary categories that fit the fulfillment model and customer demand. Supporting growth through complementary revenue streams Verkkokauppa.com actively develops new business models that complement the core retail business and support long-term growth and profitability. These include new markets, retail media, circular economy solutions, and services that enable new ways of buying and owning products. These initiatives broaden the revenue base, deepen customer relationships, and support a more sustainable and data -driven business model. Efficiency and profitability enabled by platform, data, and technology
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Interim report for 1 January–30 September 2026 7 Operational excellence is driven by continuous development of Verkkokauppa.com's platform, processes, and data capabilities. Verkkokauppa.com leverages in -house software development, scalable technology architecture, and selected partnerships to improve efficiency and customer experience. Data and AI play an increasingly important rol e in supporting decision -making, automation, and performance improvements across the organization, forming a strong foundation for future development throughout the strategy period. Long-term financial targets: • For the remaining strategy period (2026–2028), revenue growth (CAGR) of more than 5%, outgrowing the market • EBIT margin above 5% by the end of 2028 Dividend policy: Verkkokauppa.com's target is to pay out 60–80 percent of annual net profit in quarterly growing dividends. L E G A L D I S P U T E S A N D P O S S I B L E L E G A L P R O C E E D I N G S There were no substantial legal disputes or legal proceedings during the third quarter of 2026. A N N U A L G E N E R A L M E E T I N G The Annual General Meeting was held on 14 April 2026. The Annual General Meeting adopted the Financial Statements for 2025, resolved on dividend distribution, discharged the members of the Board of Directors and the CEO from liability for the financial year 2025, approved the Remuneration Report, authorized the Board of Directors to decide on the repurchase and issuance of the company's own shares, and elected PricewaterhouseCoopers Oy as the company 's auditor. Further details on the resolutions of the Annual General Meeting are available in the stock exchange release published on 14 April 2026. Dividend The Annual General Meeting held on 14 April 2026 resolved that a maximum dividend of EUR 0.194 per share be paid for the financial year 2025. In accordance with the resolution of the Annual General Meeting, the first dividend installment of EUR 0.047 per share was paid on 23 April 2026. The Annual General Meeting further authorized the Board of Directors to decide, at its discretion, on the distribution of the remaining dividend instal lments until the beginning of the next Annual General Meeting. Under this authorization, the Board of Directors resolved on the second dividend instal lment of EUR 0.048 per share, which was paid on 27 July 2026. Unless the Board of Directors resolves otherwise or applicable laws, regulations , or the rules of the Finnish book - entry system require otherwise, the remaining dividend installments are expected to be distributed as follows: D I V I D E N D P R E L I M I N A R Y R E C O R D D A T E S P R E L I M I N A R Y P A Y M E N T D A T E S Maximum of EUR 0.049 26 October 2026 2 November 2026 Maximum of EUR 0.050 16 February 2027 23 February 2027 The Board of Directors will resolve separately on each instal lment and confirm the record and payment dates in connection with such resolutions. After the reporting period, o n 22 October 2026, the Board of Directors resolved to distribute the third dividend installment of EUR 0.049 per share, with a record date of 26 October 2026 and a payment date of 2 November 2026. Verkkokauppa.com Oyj's distributable funds as at 31 December 2025 amounted to EUR 40,970,139, of which the profit for the financial year 2025 was EUR 11,363,113.
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Interim report for 1 January–30 September 2026 8 K E Y E V E N T S A F T E R T H E R E P O R T I N G P E R I O D On 22 October 2026, Verkkokauppa.com Oyj announced that the Board of Directors had resolved to distribute the third dividend installment of EUR 0.049 per share. S H A R E T R A D I N G A N D S H A R E S Verkkokauppa.com Oyj's shares (VERK) in Nasdaq Helsinki stock exchange in January –September 2026 No. of shares traded Share of total shares, % Total turnover value, EUR Last, EUR High, EUR Low, EUR Weighted average, EUR 15,518,137 34.2% 48,227,238 3.65 4.10 2.18 3.11 Verkkokauppa.com Oyj's market capitalization and shareholders on 30 September 2026 Market capitalization (excl. own shares), MEUR 160.4 Number of shareholders (of which nominee shareholders) 19,271 (9) Nominee registrations and direct foreign shareholders, % 8.6 Households, % 51.1 Financial and insurance corporations, % 15.8 Other Finnish investors, % 24.5 Source: Euroclear, 30 September 2026. At the end of September 2026, the company's largest shareholders according to Modular Finance were Samuli Seppälä (27.6%), Varma Mutual Pension Insurance Company (9.6%), Evli Finnish Small Cap Fund (8. 2%), TIND Asset Management (5.2%), Ilmarinen Mutual Pension Insurance Company (4.8%), Nordea Nordic Small Cap Fund (3.2%), and Sp-Fund Management Company Ltd (1.9%). On 30 September 2026, the share capital was EUR 100,000 and the total number of shares in the company was 45,354,532 including 1,419,192 treasury shares held by the company. The treasury shares have no voting rights, and no dividend is paid on them. The treasury shares accounted for 3.13 percent of all shares. Share buyback program On 19 May 2026, Verkkokauppa.com Oyj announced that its Board of Directors had decided to initiate a share repurchase program under the authorization granted by the Annual General Meeting held on 14 April 2026 . Under the program, the company may repurchase up to 2.5 million shares, representing approximately 5.5 percent of the total number of shares, for a maximum aggregate purchase price of EUR 5 million. The program commenced on 25 May 2026 and will continue until 31 January 2027 at the latest. Up to 100,000 repurchased shares will be retained for the company's share-based incentive plans and the remaining shares will be cancelled. By 30 September 2026, the company had repurchased 1,195,733 own shares for approximately EUR 3.87 million at a weighted average price of EUR 3.24 per share. More information about Verkkokauppa.com's shares and shareholders and management holdings can be found on the company's investor website https://investors.verkkokauppa.com/en.
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Interim report for 1 January–30 September 2026 9 S H O R T - T E R M R I S K S A N D B U S I N E S S U N C E R T A I N T I E S Verkkokauppa.com's risk management is proactive and part of daily operations. Risks include threats and opportunities that may impact the company's success, financial performance, reputation, and sustainability objectives. Risk management follows the ISO 31000 framework and the company's Risk Management Policy under the oversight of the Board of Directors. Strategic risks Strategic risks relate to changes in the operating environment, consumer behavior, technology, and the competitive landscape. Delays in adapting to the ongoing shift to online buying and cross -border e -commerce, changing delivery expectations, new ways of buying and owning, or intensified competition and pricing pressure may weaken competitiveness and growth. Strategic risks are monitored through scenario planning, early identification of deviations, and proactive resource allocation. Macroeconomic and market risks Macroeconomic and market risks relate to global economic and geopolitical developments affecting supply chains, consumer purchasing power, and demand. In addition, availability of raw materials and components as well as changes in energy prices may affect procurement costs and pricing, either directly or indirectly through suppliers and logistics partners. Intense competition, cross-border e-commerce, and direct-to-consumer models increase pricing pressure, while seasonality concentrates results in the four th quarter. Market conditions are continuously monitored and commercial actions adjusted. Operational risks Operational risks relate to the reliability of digital channels, IT systems, supply chains, and talent availability. System disruptions, cyber incidents, supplier delays, or logistics constraints may impact sales and service continuity. Risks are mitigated through resilient supply chain structures, backup systems, business continuity planning, technology development, and structured AI governance. Compliance, cybersecurity, and regulatory risks Failures in compliance, cybersecurity, or product quality may lead to operational disruption, reputational damage, or sanctions. These risks are managed through updated processes, certified information security systems, and continuous monitoring, including double materiality assessments. Financial risks Financial risks relate to profitability, liquidity, capital structure, working capital, inventory management, and access to financing. Covenant breaches or inefficient inventory and pricing decisions could pressure cash flow or funding. Risks are managed t hrough disciplined financial processes and ongoing monitoring of liquidity, credit exposure, and financing conditions. An assessment of the main risks and uncertainties in the business is presented in the 2025 Board of Directors' Report. Helsinki, Finland, 22 October 2026 Verkkokauppa.com Oyj Board of Directors
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Interim report for 1 January–30 September 2026 10 R E S U L T S W E B C A S T A live webcast for analysts, investors, and financial media will be held on Thursday, 22 October 2026 at 10:00 a.m. EEST. Verkkokauppa.com's CEO Panu Porkka will present the developments from the reporting period, followed by a Q&A session with Panu Porkka, CFO Jesper Blomster, and Head of Investor Relations Elisa Forsman. The webcast will be held in English, and registration is available at: https://verkkokauppa.events.inderes.com/2026-q3. U P C O M I N G F I N A N C I A L R E L E A S E S A N D E V E N T S Verkkokauppa.com publishes its financial reports and arranges events as follows: • Financial statements bulletin for the year 2026 on Friday 12 February 2027 • The annual reporting package for 2026, comprising the report of the board of directors and the financial statements, the corporate governance statement, the remuneration report, the sustainability review , and the company brochure, will be published during the week starting 8 March 2027 • The Annual General Meeting is planned to be held on Wednesday 31 March 2027 as a virtual -only meeting • Interim report for January–March 2027 on Thursday 22 April 2027 • Half-year financial report for January–June 2027 on Wednesday 14 July 2027 • Interim report for January–September 2027 on Thursday 21 October 2027 • Financial statements bulletin for the year 2027 on Thursday 10 February 2028 M O R E I N F O R M A T I O N Panu Porkka, CEO panu.porkka@verkkokauppa.com Jesper Blomster, CFO jesper.blomster@verkkokauppa.com Elisa Forsman, Head of Investor Relations and Corporate Communications elisa.forsman@verkkokauppa.com Tel. +358 44 206 6094 Verkkokauppa.com is an e -commerce pioneer that stands passionately on the customer's side. Verkkokauppa.com accelerates the transition of commerce to online with Finland's fastest deliveries and ultimate convenience. The company leads the way by offering o ne-hour deliveries to approximately 2 million customers, a winning assortment and probably always cheaper prices. Every day, the company strives to find more streamlined ways to surpass its customers' expectations and to create a new norm for buying and owning. Verkkokauppa.com was founded in 1992 and has been online since day one. Verkkokauppa.com's revenue in 2025 was EUR 526.5 million and it employs around 600 people. Verkkokauppa.com's shares are listed on the Nasdaq Helsinki stock exchange.
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Interim report for 1 January–30 September 2026 11 V E R KK O KA U P P A . C O M O Y J I N T E R I M F I N A NC I A L I N F O R M A T I O N 1 JA N – 3 0 S E P 2 0 2 6 Group consolidated statement of comprehensive income E U R T H O U S A N D Note 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 Revenue 1.3 133,894 131,171 374,888 358,181 526,489 Other operating income 214 3,374 528 3,901 4,158 Materials and services -111,555 -109,388 -311,661 -295,685 -436,565 Employee benefit expenses -8,416 -8,307 -25,973 -25,607 -35,401 Depreciation and amortization -1,724 -1,714 -5,275 -5,079 -6,847 Other operating expenses -7,728 -7,914 -22,908 -23,536 -34,442 Operating result 4,684 7,223 9,598 12,176 17,392 Finance income 101 91 360 280 477 Finance costs -481 -632 -1,651 -1,978 -2,588 Result before income taxes 4,304 6,682 8,307 10,477 15,281 Income taxes -819 -1,360 -1,700 -2,171 -2,898 Result for the period 3,485 5,322 6,606 8,307 12,383 Results for the period attributable to Equity holders of the company 3,485 5,322 6,606 8,307 12,383 Earnings per share calculated from the profit attributable to equity holders Earnings per share, basic (EUR) 0.08 0.12 0.15 0.18 0.27 Earnings per share, diluted (EUR) 0.08 0.12 0.15 0.18 0.27 Other comprehensive income E U R T H O U S A N D Note 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 Result for the period 1.3 3,485 5,322 6,606 8,307 12,383 Items that may be reclassified to profit or loss Translation differences -6 5 -60 -91 -101 Comprehensive income for the period 3,479 5,328 6,546 8,215 12,283 Comprehensive income for the period Equity holders of the company 3,479 5,328 6,546 8,215 12,283
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Interim report for 1 January–30 September 2026 12 Consolidated statement of financial position E U R T H O U S A N D Note 30 Sep 2026 31 Dec 2025 Non-current assets Intangible assets 4,214 4,298 Goodwill 2,846 2,846 Property, plant and equipment 6,074 6,216 Right-of-use assets 1.5 20,905 21,075 Deferred tax assets 1,375 1,434 Other non-current receivables 467 482 Non-current assets, total 35,882 36,351 Current assets Inventories 69,140 64,912 Trade receivables 1.6/1.7 13,015 6,796 Other receivables 3,567 4,930 Income tax receivables 483 - Accrued income 10,608 12,897 Cash and cash equivalents 1.7 24,251 47,288 Current assets, total 121,066 136,824 Total assets 156,948 173,175 Equity Share capital 100 100 Treasury shares -4,791 -1,263 Invested unrestricted equity fund 26,896 26,896 Translation differences -68 -12 Retained earnings 9,139 1,268 Result for the period 6,606 12,383 Total equity 37,882 39,372 Non-current liabilities Lease liabilities 1.7 19,896 19,573 Deferred tax liabilities 9 21 Loans from financial institutions 1.7/1.8 15,264 15,344 Provisions 314 342 Non-current liabilities, total 35,482 35,280 Current liabilities Lease liabilities 1.7 3,744 4,194 Loans from financial institutions 1.7/1.8 76 2,097 Advance payments received 2,145 3,053 Accounts payable 1.7 54,375 58,737 Other current liabilities 10,136 13,557 Accrued liabilities 13,109 16,348 Provisions - 10 Income tax liabilities - 527 Current liabilities, total 83,584 98,523 Total liabilities 119,066 133,803 Total equity and liabilities 156,948 173,175
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Interim report for 1 January–30 September 2026 13 Group consolidated cash flow statement E U R T H O U S A N D 1–9/2026 1–9/2025 1–12/2025 Cash flow from operating activities Result before income taxes 8,307 10,477 15,281 Depreciation and impairment 5,275 5,079 6,847 Finance income and costs 1,291 1,698 2,111 Other adjustments 28 210 202 Cash flow before change in working capital 14,901 17,464 24,441 Change in working capital Increase (-) / decrease (+) in non-current non-interest-bearing trade receivables 16 6,634 6,639 Increase (-) / decrease (+) in trade and other receivables -2,564 24,725 21,152 Increase (-) / decrease (+) in inventories -4,228 -21,319 -13,773 Increase (+) / decrease (-) in current liabilities -12,136 -10,495 -12,715 Cash flow before financial items and taxes -4,012 17,009 25,744 Interest paid -614 -1,021 -1,445 Interest received 360 280 477 Interest on lease liabilities -895 -869 -1,149 Income tax paid -2,665 -820 -2,049 Cash flow from operating activities -7,825 14,579 21,579 Cash flow from investing activities Purchases of property, plant and equipment -933 -1,300 -1,477 Proceeds from property, plant and equipment - 1 7 Purchases of intangible assets -1,095 -910 -1,300 Cash flow from investing activities -2,028 -2,209 -2,770 Cash flow from financing activities Lease liabilities payments -2,979 -3,028 -4,071 Dividends paid -4,252 - - Acquisition of treasury shares -3,893 - -992 Proceeds from non-current borrowings 15,000 - - Repayment of non-current borrowings -15,000 - - Repayment of current borrowings -2,076 -1,000 -2,000 Cash flow from financing activities -13,200 -4,028 -7,064 Increase (+) / decrease (-) in cash and cash equivalents -23,053 8,342 11,745 Cash and cash equivalents at beginning of reporting period 47,288 35,600 35,600 Translation differences 16 -58 -56 Cash and cash equivalents at end of reporting period 24,251 43,883 47,288
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Interim report for 1 January–30 September 2026 14 Group statement of changes in equity E U R T H O U S A N D Share capital Treasury shares Invested unrestricted equity fund Retained earnings Total Equity 1 Jan 2026 100 -1,263 26,896 13,639 39,372 Result for the period - - - 6,606 6,606 Translation differences - - - -60 -60 Comprehensive income for the period, total - - - 6,546 6,546 Dividend distribution - - - -4,252 -4,252 Acquisition of treasury shares - -3,893 - - -3,893 Disposal of treasury shares - Board fees - 235 - -235 - Share-based incentives - 129 - -21 109 Transactions with owners, total - -3,528 - -4,509 -8,036 Equity 30 Sep 2026 100 -4,791 26,896 15,677 37,882 E U R T H O U S A N D Share capital Treasury shares Invested unrestricted equity fund Retained earnings Total Equity 1 Jan 2025 100 -470 26,896 1,379 27,905 Result for the period - - - 8,307 8,307 Translation differences - - - -91 -91 Comprehensive income for the period, total - - - 8,215 8,215 Disposal of treasury shares - Board fees - 200 - -200 - Share-based incentives - - - 190 190 Transactions with owners, total - 200 - -9 190 Equity 30 Sep 2025 100 -270 26,896 9,585 36,310 E U R T H O U S A N D Share capital Treasury shares Invested unrestricted equity fund Retained earnings Total Equity 1 Jan 2025 100 -470 26,896 1,379 27,905 Result for the period - - - 12,383 12,383 Translation differences - - - -101 -101 Comprehensive income for the period, total - - - 12,283 12,283 Acquisition of treasury shares - -992 - - -992 Disposal of treasury shares - Board fees - 200 - -200 - Share-based incentives - - - 177 177 Transactions with owners, total - -793 - -22 -815 Equity 31 Dec 2025 100 -1,263 26,896 13,639 39,372
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Interim report for 1 January–30 September 2026 15 N O T E S 1.1 Accounting principles applied in this interim report Verkkokauppa.com Oyj is a public limited company, the shares of which are quoted on the official list of Nasdaq Helsinki. The registered address of its head office is Tyynenmerenkatu 11, Helsinki. Verkkokauppa.com Group's interim report for January –September 2026 has been prepared in line with IAS 34 Interim Financial Reporting and should be read in conjunction with Verkkokauppa.com Oyj's Financial Statements for 2025, published on 13 March 2026. Verkkokauppa.com Oyj has applied the same accounting principles in the preparation of this interim report as in its consolidated financial statements for 2025. Verkkokauppa.com Oyj has not adopted new accounting policies during 2026 that would have a material impact on this interim report. The information presented in this interim report has not been audited. The figures are rounded, and therefore the sum of individual figures may deviate from the aggregate amount presented. All amounts in this report are presented in EUR thousand unless otherwise stated. 1.2 Segment reporting Verkkokauppa.com has one reportable segment. The management of Verkkokauppa.com Oyj has exercised judgment when it has applied the aggregation criteria to aggregate the operating segments into one reportable segment. All combined operating segments have similar economic characteristics. The main factors to the Group's business model are the strong integration of online shopping and stores, similar customer base, common support functions serving the entire business, and the volume benefits made possible by centralized business. 1.3 Revenue from contracts with customers The Group's revenue streams consist of the sale of goods and services. The Group offers approximately 60,000 products across 24 main product categories, which Verkkokauppa.com sells to consumers through its own online store, four physical stores, and B2B sales channels in Finland and internationally. Revenue from services offered by the Group includes, among other things, installa tion and maintenance services, order -based sales and advertising and visibility services, as well as customer financing provided by an external partner. The Group presents all income related to customer financing as part of revenue. Revenue is generated geographically mainly from Finland. Revenue from the sale of goods is recognized at the point in time when control of the product transfers to the customer. Revenue from services is recognized mainly over time. Disaggregation of revenue Satisfaction of performance obligation E U R T H O U S A N D 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 At a point in time 132,516 130,256 370,974 356,226 521,925 Over time 1,377 915 3,914 1,954 4,564 Total 133,894 131,171 374,888 358,181 526,489 Revenue by external customer location E U R T H O U S A N D 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 Finland 118,795 120,449 332,147 330,376 481,080 EU 11,954 8,535 34,718 22,750 37,718 Rest of the world 3,145 2,187 8,023 5,054 7,691 Total 133,894 131,171 374,888 358,181 526,489
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Interim report for 1 January–30 September 2026 16 1.4 Seasonality of business The nature of the business of the Group includes seasonality. Ordinary seasonal fluctuations are reflected in cash and cash equivalents, cash flow, and accounts payable, which usually reach the highest point at the year -end and the lowest point at the end of the second quarter. 1.5 Right-of-use assets E U R T H O U S A N D 30 Sep 2026 31 Dec 2025 Carrying amount 1 January 21,075 23,864 Increases 2,849 418 Increase/decrease due to remeasurement 3 993 Depreciation -3,021 -4,199 Carrying amount at the end of period 20,905 21,075 During the first quarter of 2026, the lease agreements for the Pirkkala and Raisio premises were renewed, resulting in lease terms extending until February 2031 and March 2032, respectively. 1.6 Trade receivables E U R T H O U S A N D Trade receivables 30 Sep 2026 Impairment 30 Sep 2026 Trade receivables 31 Dec 2025 Impairment 31 Dec 2025 Not due 12,275 5 6,474 2 Past due 1–60 days 671 7 328 9 Past due 61–120 days 133 50 64 58 Past due over 121 days - - - - Total 13,078 63 6,866 69 Verkkokauppa.com Oyj's agreement with Norion Bank AB concerning the sale and servicing of B2B receivables expired on 23 March 2026, upon which the management of corporate customer receivables reverted to the company. As a result, the balance of B2B trade receivables increased compared to the end of the previous financial year.
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Interim report for 1 January–30 September 2026 17 1.7 Financial assets and liabilities by measurement category 30 S E P 2 0 2 6 E U R T H O U S A N D Financial assets and liabilities at amortized cost Carrying amount Non-current financial assets (level 2) Trade receivables and other financial receivables 467 467 Non-current financial assets, total 467 467 Current financial assets (level 2) Trade receivables 13,015 13,015 Cash and cash equivalents 24,251 24,251 Current financial assets, total 37,267 37,267 Financial assets by measurement category, total 37,734 37,734 Non-current financial liabilities (level 2) Lease liabilities 19,896 19,896 Loans from financial institutions 15,264 15,264 Non-current financial liabilities, total 35,160 35,160 Current financial liabilities (level 2) Lease liabilities 3,744 3,744 Loans from financial institutions 76 76 Accrued interest on loans from financial institutions 168 168 Trade payables 54,375 54,375 Current financial liabilities, total 58,362 58,362 Financial liabilities by measurement category, total 93,522 93,522 3 1 D E C 2 0 2 5 E U R T H O U S A N D Financial assets and liabilities at amortized cost Carrying amount Non-current financial assets (level 2) Trade receivables and other financial receivables 482 482 Non-current financial assets, total 482 482 Current financial assets (level 2) Trade receivables 6,796 6,796 Cash and cash equivalents 47,288 47,288 Current financial assets, total 54,085 54,085 Financial assets by measurement category, total 54,567 54,567 Non-current financial liabilities (level 2) Lease liabilities 19,573 19,573 Loans from financial institutions 15,344 15,344 Non-current financial liabilities, total 34,917 34,917 Current financial liabilities (level 2) Lease liabilities 4,194 4,194 Loans from financial institutions 2,076 2,076 Accrued interest on loans from financial institutions 21 21 Trade payables 58,737 58,737 Current financial liabilities, total 65,029 65,029 Financial liabilities by measurement category, total 99,945 99,945 Level 2 includes interest-bearing liabilities. The group has no financial assets or liabilities recognized at fair value through other comprehensive income.
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Interim report for 1 January–30 September 2026 18 1.8 Loans from financial institutions In June, the company refinanced its financing arrangements by entering into a EUR 15 million term loan facility and a EUR 20 million revolving credit facility, both with a three -year maturity, replacing the previous financing arrangements. At the end of September 2026, following the refinancing, Verkkokauppa.com had total interest-bearing debt of EUR 15.3 million (31 December 2025: EUR 17.4 million). Of the interest-bearing debt, the EUR 15.0 million term loan carries a floating interest rate. The interest payable is determined semi-annually based on the Euribor reference rate and the net debt-to-EBITDA ratio. The facilities have a three-year maturity until 23 June 2029 and include two one-year extension options. The term loan is repayable in full at maturity. No assets have been pledged as collateral for the bank loans. The facilities are subject to financial covenants based on the net debt -to-EBITDA ratio and the gearing ratio , both ratios are excluding IFRS 16 impact. Compliance with the loan covenants is reported to the lenders semi-annually, and management regularly monitors covenant compliance. The carrying amounts of the loans materially approximate their fair values. The revolving credit facility remained undrawn at the end of September. The primary purpose of the financing facilities is to support business development and the general financing needs of the Group. The company primarily manages and optimizes its net indebtedness through working capital management. The refinancing extends the maturity profile of the Group's debt and supports the Group's liquidity in a business characterized by cyclical working-capital requirements. 1.9 Dividends D I V I D E N D S P A I D I N 2 0 2 6 F O R T H E F I N A N C I A L Y E A R 2 0 2 5 Date of payment Dividend per share, EUR 23 April 2026 0.047 27 July 2026 0.048 Total dividends, EUR thousand 4,252 No dividends were paid in 2025. 1.10 Transactions with related parties The company's related parties are considered to include the members of the Board of Directors, the CEO and other members of the management team of Verkkokauppa.com Oyj, as well as close family members of the above - mentioned persons, and entities controlled by the above -mentioned persons and Verkkokauppa.com Oyj's group companies. Transactions with related parties have taken place on normal commercial terms. Related party transactions presented here are those transactions with related parties that are not eliminated in the consolidated financial statements. E U R T H O U S A N D 1–9/2026 1–9/2025 1–12/2025 Sales of goods and services To key management personnel and their related parties 34 36 51 Purchases of goods and services From key management personnel and their related parties 56 162 234 E U R T H O U S A N D 30 Sep 2026 30 Sep 2025 31 Dec 2025 Closing balances from purchases/sales of goods/services Trade receivables from key management personnel and their related parties - - - Trade payables to key management personnel and their related parties 24 71 - 1.11 Long-term incentive plans Verkkokauppa.com Oyj has two share -based incentive plans for the company's CEO and other members of the management. The purpose of the plans is to align the interests of shareholders and management in increasing the
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Interim report for 1 January–30 September 2026 19 long-term value of the company, encourage management to make personal investments in the company's shares, retain key executives, and provide them with a competitive reward structure under which participants may earn shares based on performance and personal investment. The plans are accounted for in their entirety as equity -settled share-based payment arrangements that include a net settlement feature. Rewards are paid by the end of May following the end of each earning period. The first earning period of the 2023 plan ended on 31 December 2025, and the reward shares, totaling 24,408 shares, were transferred to the CEO and two members of the Management Team on 17 March 2026. Under the second earning period of the 2023 plan (2024 –2026), the gross rewards to be paid correspond to an estimated maximum value of 92,900 Verkkokauppa.com Oyj shares, including the cash-settled portion. Under the third earning period (2025 –2027), the gross rewards correspond to an estimated maximum value of 225,400 Verkkokauppa.com Oyj shares, including the cash-settled portion. The performance -based matching share plan established in 2026 covers the period 2026 –2030 and consists of three earning periods covering the financial years 2026 –2028, 2027–2029, and 2028–2030. The Board of Directors decides annually on the commencement and detailed terms of each earning period. Participation in the plan and receipt of rewards require that the participant allocates freely transferable Verkkokauppa.com Oyj shares already held by the participant to the plan, or acquires a number of the company's shares determined by the Board of Directors. The performance criteria for the first earning period (2026 –2028) are the company's absolute and relative total shareholder return (TSR). The portion of the maximum reward payable to a participant is determined based on the achievement of TSR targets set by the Board of Directors. The plan currently covers ten participants. The gross rewards payable for the first earning period of the 2026 plan are estimated to correspond to a maximum value of 395,000 Verkkokauppa.com Oyj shares, including the cash-settled portion. The final number of shares will depend on the number of shares acquired by the participants and the achievement of the TSR targets. 1.12 Guarantees and commitments E U R T H O U S A N D 30 S ep 2026 3 1 D ec 2025 Collateral given for own commitments Guarantees - 1,218 Other commitments and contingent liabilities - 284 Guarantees are related to rent guarantees, the comprehensive guarantee for Finnish Customs , and documentary credits. Other commitments are related to off-balance residual values. 1.13 Legal disputes and possible legal proceedings In June, the Supreme Administrative Court issued its decision, upholding the administrative fine imposed on Verkkokauppa.com by the Sanctions Board of the Office of the Data Protection Ombudsman in March 2024. The company recognized a provision for the fine in full in its first -quarter 2024 results. The fine was paid in June 2026. 1.14 IFRS Standards not yet effective No published IFRS standard, IFRIC interpretation, or annual improvement or amendment to IFRS standards that is not yet effective is expected to have a material impact on the consolidated result or financial position of Verkkokauppa.com. IFRS 18 'Presentation and Disclosure in Financial Statements', which will become effective for financial years beginning on 1 January 2027, will affect the presentation of the primary financial statements and introduce the disclosure of management-defined performance measures in the notes. IFRS 18 standardizes the structure of the income statement and improves comparability by introducing three mandatory subtotals: operating result, result before financing items and taxes, and result for the period. Correspondingly , income and expenses will be
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Interim report for 1 January–30 September 2026 20 classified into operating, investing, and financing categories. In the indirect method of the statement of cash flows, operating result will become the starting point. Verkkokauppa.com has assessed the impacts of the adoption of IFRS 18. The changes do not have an effect on the consolidated operating result or financial position. The most significant reporting impacts relate to the presentation of management performance measures in the notes to the financial statements and in interim reports, as well as the standardization of the income statement structure. Implementation of the standard requires only minor changes to the company's systems. The company continues its preparations for the implementation of the standard. 1.15 Subsequent events On 22 October 2026, the Board of Directors resolved to distribute the third dividend installment of EUR 0.04 9 per share. The dividend record date is 26 October 2026, and the payment date is 2 November 2026.
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Interim report for 1 January–30 September 2026 21 A D D I T I O N A L I N F O R M A T I O N Quarterly income statement E U R T H O U S A N D 7–9/ 2026 4–6/ 2026 1–3/ 2026 10–12/ 2025 7–9/ 2025 4–6/ 2025 1–3/ 2025 Revenue 133,894 123,094 117,900 168,308 131,171 116,472 110,538 Other operating income 214 156 158 257 3,374 228 299 Materials and services -111,555 -102,635 -97,471 -140,881 -109,388 -96,561 -89,736 Employee benefit expenses -8,416 -9,008 -8,549 -9,793 -8,307 -8,542 -8,759 Depreciation and amortization -1,724 -1,753 -1,798 -1,768 -1,714 -1,675 -1,690 Other operating expenses -7,728 -7,376 -7,805 -10,906 -7,914 -8,157 -7,466 Operating result 4,684 2,479 2,435 5,216 7,223 1,766 3,187 Finance income 101 102 156 198 91 51 138 Finance costs -481 -583 -587 -610 -632 -622 -724 Result before income taxes 4,304 1,998 2,004 4,804 6,682 1,194 2,601 Income taxes -819 -479 -402 -727 -1,360 -244 -567 Result for the period 3,485 1,519 1,602 4,077 5,322 950 2,034 Result for the period attributable to Equity holders 3,485 1,519 1,602 4,077 5,322 950 2,034 Earnings per share calculated from the profit attributable to equity holders Earnings per share, basic (EUR) 0.08 0.03 0.04 0.09 0.12 0.02 0.04 Earnings per share, diluted (EUR) 0.08 0.03 0.04 0.09 0.12 0.02 0.04 Alternative performance measures In this interim report, Verkkokauppa.com Oyj presents certain key figures that are not accounting measures defined under IFRS and are considered as Alternative Performance Measures (APM). Verkkokauppa.com Oyj applies in the reporting of alternative performance measures t he guidelines issued by the European Securities and Market s Authority (ESMA). Verkkokauppa.com Oyj uses alternative performance measures to reflect the underlying business performance and to enhance comparability between financial periods. The company's management believes that these key figures provide supplementing information on the income statement and financial position.
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Interim report for 1 January–30 September 2026 22 Q1/2026 Q2/2026 Q3/2026 Q1-Q3 2026 Q1/2025 Q2/2025 Q3/2025 Q4/2025 Q1-Q4 2025 Revenue, MEUR 117.9 123.1 133.9 374.9 110.5 116.5 131.2 168.3 526.5 Gross profit, MEUR 20.4 20.5 22.3 63.2 20.8 19.9 21.8 27.4 89.9 Gross margin-% 17.3% 16.6% 16.7% 16.9% 18.8% 17.1% 16.6% 16.3% 17.1% EBITDA, MEUR 4.2 4.2 6.4 14.9 4.9 3.4 8.9 7.0 24.2 EBITDA-% 3.6% 3.4% 4.8% 4.0% 4.4% 3.0% 6.8% 4.1% 4.6% Operating result, MEUR 2.4 2.5 4.7 9.6 3.2 1.8 7.2 5.2 17.4 Operating margin-% 2.1% 2.0% 3.5% 2.6% 2.9% 1.5% 5.5% 3.1% 3.3% Comparable operating result, MEUR 2.5 2.4 4.7 9.6 3.2 2.0 3.9 5.8 14.8 Comparable operating margin-% 2.1% 2.0% 3.5% 2.6% 2.9% 1.7% 3.0% 3.4% 2.8% Net result, MEUR 1.6 1.5 3.5 6.6 2.0 1.0 5.3 4.1 12.4 Revenue distribution by customer segment¹ Consumers MEUR 77.5 80.7 91.8 250.1 74.4 81.3 94.8 119.1 369.6 B2B (incl. Wholesale), MEUR 40.4 42.4 42.1 124.8 36.1 35.2 36.4 49.3 157.0 Interest-bearing net debt, MEUR² 14.7 12.2 14.7 14.7 24.7 26.6 -1.1 -6.1 -6.1 Investments, MEUR 0.7 0.8 0.5 2.0 0.3 1.1 0.8 1.0 3.2 Equity ratio, % 24.7% 24.3% 24.5% 24.5% 17.9% 18.3% 21.1% 23.1% 23.1% Gearing, %² 35.9% 31.5% 38.9% 38.9% 82.5% 86.1% -3.0% -15.4% -15.4% Personnel at the end of period³ 578 613 589 589 595 625 591 594 594 Basic earnings per share, euros 0.04 0.03 0.08 0.15 0.04 0.02 0.12 0.09 0.27 Diluted earnings per share, euros 0.04 0.03 0.08 0.15 0.04 0.02 0.12 0.09 0.27 Number of issued shares, 1,000 pcs 45,355 45,355 45,355 45,355 45,355 45,355 45,355 45,355 45,355 Number of treasury shares, 1,000 pcs 275 759 1,419 1,419 86 86 49 299 299 Weighted average number of shares outstanding, 1,000 pcs 45,067 44,987 44,225 44,754 45,268 45,268 45,287 45,280 45,280 Diluted weighted average number of shares outstanding, 1,000 pcs 45,325 45,283 44,465 45,028 45,374 45,360 45,379 45,347 45,347 ¹ Customer segment figures have been corrected to reflect a reclassification of some customer groups from B2B to Consumers. ² The Q1 2026 net interest-bearing debt figure presented in the APM reconciliation has been corrected. The underlying IFRS balance sheet figures remain unchanged. ³ The number of personnel includes both full- and part-time employees.
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Interim report for 1 January–30 September 2026 23 Formulas for key ratios K E Y R A T I O D E F I N I T I O N S GROSS PROFIT Revenue - materials and services Gross profit shows the profitability of the sales GROSS MARGIN, % (Revenue - materials and services) / Revenue x 100 Gross margin measures the profitability of the sales of Verkkokauppa.com Group EBITDA Operating result + depreciation + amortization EBITDA shows the operational profitability EBITDA, % (Operating result + depreciation + amortization) / Revenue x 100 EBITDA measures the operational profitability of Verkkokauppa.com Group OPERATING RESULT Result for the period before income taxes and net finance income and costs Operating result shows result generated by operating activities OPERATING MARGIN, % Operating result / Revenue x 100 Operating margin measures the operational efficiency of Verkkokauppa.com Group ITEMS AFFECTING COMPARABILITY Material items that are not part of normal operating activities such as expenses related to restructuring costs including workforce redundancy and other restructuring costs, impairment losses of fixed assets, gains or losses recognized from disposals of fixed assets/businesses, transaction costs related to business acquisition, compensations for damages, and legal proceedings COMPARABLE OPERATING RESULT Comparable operating result is profit adjusted with items affecting comparability Comparable operating result allows comparison of operating result in different periods without the impact of extraordinary items not related to normal business operations COMPARABLE OPERATING RESULT MARGIN, % Comparable operating result / Revenue x 100 Comparable operating margin measures comparable operational efficiency of Verkkokauppa.com Group EQUITY RATIO, % Total equity / (Balance sheet total - advance payments received) x 100 The equity ratio measures Verkkokauppa.com Group's solvency, ability to bear losses and ability to meet commitments in the long run INTEREST- BEARING NET DEBT Interest-bearing debts (lease liabilities, loans from financial institutions) - cash and cash equivalents Interest-bearing net debt measures Verkkokauppa.com Group's indebtedness GEARING, % (Interest-bearing debts (lease liabilities, loans from financial institutions) - cash and cash equivalents – interest-bearing receivables) / Total equity x 100 Gearing measures the relation of equity and interest-bearing net debt of Verkkokauppa.com Group and shows the indebtedness of the company INVESTMENTS Increases in intangible assets, property, plant and equipment during the financial period Investments provide additional information regarding operating cash flow demands NET INVESTMENT Investments in intangible and tangible assets - proceeds from the sale of fixed assets. Net investments do not include non-capitalized / work- in-progress EARNINGS PER SHARE, BASIC Result for the period attributable to equity holders of the company / Weighted average number of shares outstanding Earnings per share measures the result for the period attributable to equity holders of the Group EARNINGS PER SHARE, DILUTED Result for the period attributable to equity holders of the company / (Weighted average number of shares outstanding + dilutive potential shares)
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Interim report for 1 January–30 September 2026 24 Reconciliation of alternative key ratios E U R M I L L I O N 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 Comparable operating result 4.7 3.9 9.6 9.1 14.8 + Items affecting comparability - 3.3 -0.0 3.1 2.5 Operating result 4.7 7.2 9.6 12.2 17.4 Items affecting comparability E U R M I L L I O N 7–9/2026 7–9/2025 1–9/2026 1–9/2025 1–12/2025 The Office of the Data Protection Ombudsman - An administrative fine and related legal fees - - -0.0 -0.1 -0.1 Sale of consumer financing business - 3.3 - 3.2 3.2 Regional State Administrative Agency administrative fine and related legal fees - - - - -0.6 Items affecting comparability total - 3.3 -0.0 3.1 2.5