Insider information: Verkkokauppa.com Oyj publishes preliminary information on the 2024 results
Verkkokauppa.com Oyj STOCK EXCHANGE RELEASE 28 January 2025 at 5:59 p.m. EET
The company's stock exchange release published today included information about the 2024 revenue, due to which the company releases unaudited preliminary information on the 2024 results.
Verkkokauppa.com's revenue declined by 6.9 percent and was EUR 140.2 million (150.6) in the last quarter of 2024. The decline was driven by weak demand especially in discretionary categories like Televisions, Mobile Phones and Gaming while IT and Toys performed better. Full year 2024 revenue declined by 7.0 percent and was EUR 467.8 million (502.9).
The company's comparable operating result (comparable EBIT) was EUR 3.8 million (1.6) or 2.7 percent of revenue (1.1%) in the fourth quarter. Full year 2024 comparable operating result (comparable EBIT) was EUR 1.8 million (6.1) or 0.4 percent of revenue (1.2%).
"Despite the challenging market situation, the company achieved a significant profitability improvement in the fourth quarter. The improvement was driven by higher gross margin and cost-saving measures", says CEO Panu Porkka.
According to Verkkokauppa.com's financial guidance, the company expected its revenue and comparable operating result (comparable EBIT) for 2024 to be lower than in 2023 (2023: revenue was EUR 502.9 million and comparable operating result EUR 6.1 million).
Verkkokauppa.com will publish its financial statement bulletin for the year 2024 on Thursday, 6 February 2025.
For further information, please contact:
Panu Porkka, CEO, Verkkokauppa.com Oyj
panu.porkka@verkkokauppa.com
Jesper Blomster, CFO, Verkkokauppa.com Oyj
jesper.blomster@verkkokauppa.com
Tel. +358 40 570 3083
Tomi Lindell, Head of Investor Relations and Corporate Communications,
Verkkokauppa.com Oyj
tomi.lindell@verkkokauppa.com
Tel. +358 50 593 4119
Verkkokauppa.com is a leading Finnish consumer electronic and home & leisure product retailer serving consumer and business customers online and through four megastores. We strive to accelerate the online transition of retail by surpassing customers' expectations every day. Verkkokauppa.com was founded in 1992 and caters around 80 million annual online visitors with a cost-efficient and scalable business model. Verkkokauppa.com's revenue in 2023 was EUR 503 million and it employs around 600 sales and retail professionals. Verkkokauppa.com is listed on the Nasdaq Helsinki Stock Exchange (VERK).
