Profit Alert: Verkkokauppa.com is adjusting its business operations to meet reduced demand and makes a write-off related to the rationalization of its assortment – preliminary data on financial development in 2022.
Verkkokauppa.com Oyj stock exchange announcement, inside information 16 January 2023 at 9:50 EET
Verkkokauppa.com adapts its business to reduced demand and launches a program to increase profits. As part of the program, the company adjusts its assortment and writes off inventory in the amount of 1.6 million euros.
In the financial guidance provided on 24 October 2022 for the full year 2022, the company expected revenue to be between EUR 530-560 million (in 2021: EUR 574.5 million) and comparable operating profit (comparable EBIT) between 5- 9 million (in 2021: EUR 20.3 million) in 2022.
Preliminary key figures (unaudited)
The revenue of Verkkokauppa.com in the fourth quarter of 2022 was EUR 155.1 million, and the comparable operating profit (comparable EBIT) was EUR 0.7 million. Comparable operating profit includes an inventory-related write-down of EUR 1.6 million, which negatively impacted comparable operating profit for the fourth quarter and the full year. After the write-off, the company’s operating profit for the fourth quarter was EUR 0.7 million.
|
EUR million |
10-12 (display, other)./2022 |
1-12 (display, other)./2022 |
|
Income |
155.1 |
543.3 |
|
Profit from business |
0.7 |
2.2 |
|
Comparable operating profit |
0.7 |
3.5 |
Verkkokauppa.com will publish its 2022 financial statements newsletter on February 9, 2023 at around 08:00 EET.
Verkkokauppa.com Oyj
More information:
To Pan Porkka, CEO, Verkkokauppa.com Oyj
[email protected]
Mikko Forsell, CFO, Verkkokauppa.com Oyj
[email protected]
Tel. +358 50 434 2516
Marja Mäkinen, Head of Investor Relations and Corporate Communications
Verkkokauppa.com Oyj
[email protected]
Tel. +358 40 671 2999
Distribution:
Nasdaq Helsinki
Mainstream media
www.verkkokauppa.com
[Verkkokauppa.com empowers its customers to follow their passion by providing a wide product assortment of around 90,000 products. Verkkokauppa.com Oyj serves its retail and corporate customers through its webstore, megastores, kiosk and network of collection points as well as fast deliveries and various services. As Finland’s most popular and most visited domestic online retailer, its deliveries cover around 75 percent of the Finnish population within the next day. The Company has four megastores: in Oulu, Pirkkala, Raisio, and Helsinki, where its headquarters is also located. Verkkokauppa.com employs around 750 people and its shares are listed on the Nasdaq Helsinki stock exchange with the ticker VERK. ]
