Q1 2026 Verkkokauppa.com Oyj Earnings Call Transcript

Apr 23, 2026 / 08:00 AM GMT

Transcript

Key Points

Positve

Revenue grew by almost 7% across categories and channels, driven by e-commerce operations growing over 15% and a strong B2B segment growing by almost 10%.
International sales outside of the Finnish market grew by 60%, with significant growth in the Swedish market.
Fast delivery capabilities, including one-hour delivery, are expanding rapidly, contributing to market share gains.
The company maintained a strong financial position with a cash position of almost 30 million and a good net debt ratio.
Cost efficiency was maintained with personal costs slightly decreasing, despite increased marketing investments.

Negative

Consumer confidence in Finland declined significantly, influenced by high electricity prices and geopolitical tensions.
The operating environment saw increased price aggressivity, leading to a higher share of lower-margin campaign product sales.
Gross margin percentage decreased compared to the previous year due to increased price pressure and consumer finance impacts.
Operating expenses increased due to investments in marketing, growth initiatives, and higher inventory costs.
Cash flow was historically negative at this point of the year due to inventory ramp-up in price-pressured categories.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

VERK.HE - Verkkokauppa.com Oyj
Q1 2026 Verkkokauppa.com Oyj Earnings Call
Apr 23, 2026 / 08:00AM GMT

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Presentation
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Unidentified Company Representative [1]
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Good morning, everybody and welcome to our first interim report presentation of the year 2026.

If you have any questions, you can send them to chat or via e-mail to [email protected] and questions will be then answered at the end of the presentation.

As usual. Also available for questions, CFO Jesper Blomster and Head of Investor Relations, Elisa Forsman.

I will start my presentation with operating environment, then we will jump into the report published this morning, key financials and strategy execution, then outlook for the rest of the year and key takeaways and questions, if there are any.

So let me start with the operating environment. We actually saw a shift in

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