Verkkokauppa.com Oyj | Half-year report | 16 July 2026 at 8:00 AM EET
Unless otherwise stated, comparison figures in brackets refer to the corresponding period last year. Figures are unaudited.
APRIL–JUNE 2026 IN BRIEF
• Revenue grew by 5.7 percent and was EUR 123.1 million (116.5)
• Gross profit was EUR 20.5 million (19.9) or 16.6 percent of revenue (17.1%)
• Operating result (EBIT) was EUR 2.5 million (1.8) or 2.0 percent of revenue (1.5%)
• Comparable operating result (comparable EBIT) was EUR 2.4 million (2.0) or 2.0 percent of revenue (1.7%)
• Items affecting comparability were EUR 0.0 million (-0.2)
• Result for the period was EUR 1.5 million (1.0)
• Earnings per share were EUR 0.03 (0.02)
• Investments were EUR 0.8 million (1.1)
• Operating cash flow was EUR 6.8 million (-0.3)
• In June, Verkkokauppa.com refinanced its debt facilities with a new EUR 15 million term loan and a EUR 20 million revolving credit facility, both with three-year maturities
• The Board decided to distribute the second installment of a quarterly dividend of EUR 0.048 per share
JANUARY–JUNE 2026 IN BRIEF
• Revenue grew by 6.2 percent and was EUR 241.0 million (227.0)
• Gross profit was EUR 40.9 million (40.7) or 17.0 percent of revenue (17.9%)
• Operating result (EBIT) was EUR 4.9 million (5.0) or 2.0 percent of revenue (2.2%)
• Comparable operating result (comparable EBIT) was EUR 4.9 million (5.2) or 2.0 percent of revenue (2.3%)
• Items affecting comparability were EUR 0.0 million (-0.2)
• Result for the period was EUR 3.1 million (3.0)
• Earnings per share were EUR 0.07 (0.07)
• Investments were EUR 1.4 million (1.4)
• Operating cash flow was EUR -10.4 million (-15.0)
| KEY RATIOS (MEUR) | 4–6/26 | 4–6/25 | CHANGE | 1–6/26 | 1–6/25 | CHANGE | 1–12/25 | |
| Revenue | 123.1 | 116.5 | 5.7% | 241.0 | 227.0 | 6.2% | 526.5 | |
| Gross profit | 20.5 | 19.9 | 0.6 MEUR | 40.9 | 40.7 | 0.2 MEUR | 89.9 | |
| Gross margin, % | 16.6% | 17.1% | -0.5 pp | 17.0% | 17.9% | -0.9 pp | 17.1% | |
| EBITDA | 4.2 | 3.4 | 0.8 MEUR | 8.5 | 8.3 | 0.2 MEUR | 24.2 | |
| EBITDA, % | 3.4% | 3.0% | 0.4 pp | 3.5% | 3.7% | -0.2 pp | 4.6% | |
| Operating result | 2.5 | 1.8 | 0.7 MEUR | 4.9 | 5.0 | -0.1 MEUR | 17.4 | |
| Operating margin, % | 2.0% | 1.5% | 0.5 pp | 2.0% | 2.2% | -0.2 pp | 3.3% | |
| Comparable operating result | 2.4 | 2.0 | 0.4 MEUR | 4.9 | 5.2 | -0.3 MEUR | 14.8 | |
| Comparable operating margin, % | 2.0% | 1.7% | 0.3 pp | 2.0% | 2.3% | -0.3 pp | 2.8% | |
| Result for the period | 1.5 | 1.0 | 0.5 MEUR | 3.1 | 3.0 | 0.1 MEUR | 12.4 | |
| Investments | 0.8 | 1.1 | -0.3 MEUR | 1.4 | 1.4 | 0.0 MEUR | 3.2 | |
| Operating cash flow | 6.8 | -0.3 | 7.1 MEUR | -10.4 | -15.0 | 4.6 MEUR | 21.6 | |
FINANCIAL GUIDANCE FOR 2026 (UNCHANGED)
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.
LONG-TERM FINANCIAL TARGETS AND DIVIDEND POLICY
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.
CEO PANU PORKKA’S REVIEW
Continued growth with early signs of improving market conditions
The second quarter progressed in line with our expectations. Revenue grew by 5.7 percent year-on-year and we continued to gain market share, even as consumer demand remained soft. The growth was driven by strong performance in B2B and international sales.
At the category level, small domestic appliances delivered the strongest performance in the quarter, supported by successful seasonal sales. IT continued to grow, benefiting from the ongoing replacement cycle. Television sales declined against a strong comparison period, while components were weighed down by continued category-specific headwinds.
Towards the end of the quarter, we began to see some positive signs from the market. Consumer confidence in Finland reached its highest level in four years, supporting our view that market conditions may gradually improve during the second half of the year.
Strong underlying performance on continued operational efficiency
Gross margin was 16.6 percent (17.1%), reflecting the divestment of the consumer financing business in September 2025 and elevated campaign activity during the quarter. Gross margin was supported by dynamic pricing, improved supplier terms, and focused category management.
Comparable operating expenses decreased year-on-year despite wage inflation and continued marketing investments, supported by the consumer finance divestment and cost discipline. As a share of revenue, comparable operating expenses decreased by 0.8 percentage points, reflecting the scalability of our operating model.
As a result, comparable operating result improved to EUR 2.4 million (2.0), or 2.0 percent (1.7%) of revenue.
Strong financial position supporting shareholder returns
Verkkokauppa.com's financial position remained strong. Disciplined inventory management delivered clear improvements in inventory turnover, and seasonal product sales performed well. Inventory was at the previous year's level and lower than at the end of Q1. Cash and cash equivalents stood at EUR 27.8 million at the end of June.
In May, the Board of Directors resolved to initiate a share buyback program of up to EUR 5 million, complementing the dividend distribution and reflecting our confidence in the company's long-term value creation.
Delivering on our strategy across key growth pillars
On 28 May, we hosted our Capital Markets Day, where we presented the next phase of Verkkokauppa.com's strategy for 2024–2028 and updated our long-term financial targets. In the second quarter, we continued to translate this strategy into tangible results.
Fast deliveries scaled further, with second quarter volumes up by 45 percent year-on-year and one-hour deliveries growing by 66 percent. The share of fast deliveries reached 30 percent of online sales, and we passed the milestone of one million cumulative fast deliveries, underlining the scalability of our delivery model.
International sales grew by 63 percent, supported by a broader assortment, stronger presence on partner marketplaces, continued momentum in our own channels, and improved delivery speed. Sweden was again the main growth driver, with sales more than doubling year-on-year.
Our strategy execution also gained international recognition during the quarter. In June, Verkkokauppa.com was awarded at the Cannes Lions International Festival of Creativity — a strong validation of our brand, creative work, and the courage to do things differently, which have always defined us. In addition, Verkkokauppa.com was ranked the leading electronics retailer and third overall in the Omnichannel Index 2026, developed by IMPACT Commerce in collaboration with Google, covering 373 brands and retailers across six European markets. The recognition highlights our strengths in availability, fulfillment, service, and decision support, and reflects the progress we have made in building a customer-centric omnichannel operating model.
Looking ahead
We enter the second half of the year in a strong position, with early signs of improving consumer demand in Finland and continued growth across our business. Our focus remains firmly on executing our strategy and delivering on our long-term targets.
FINANCIAL DEVELOPMENT
Revenue and profitability
| KEY RATIOS, MEUR | 4–6/26 | 4–6/25 | CHANGE | 1–6/26 | 1–6/25 | CHANGE | 1–12/25 |
| Revenue | 123.1 | 116.5 | 5.7% | 241.0 | 227.0 | 6.2% | 526.5 |
| Operating result | 2.5 | 1.8 | 0.7 MEUR | 4.9 | 5.0 | -0.1 MEUR | 17.4 |
| Operating margin, % of revenue | 2.0% | 1.5% | 0.5 pp | 2.0% | 2.2% | -0.2 pp | 3.3% |
| Items affecting comparability | 0.0 | -0.2 | 0.2 MEUR | 0.0 | -0.2 | 0.2 MEUR | 2.5 |
| Comparable operating result | 2.4 | 2.0 | 0.4 MEUR | 4.9 | 5.2 | -0.3 MEUR | 14.8 |
| Comparable operating margin, % of revenue | 2.0% | 1.7% | 0.3 pp | 2.0% | 2.3% | -0.3 pp | 2.8% |
Revenue distribution
| REVENUE, MEUR | 4–6/26 | 4–6/25 | CHANGE, % | 1–6/26 | 1–6/25 | CHANGE, % | 1–12/25 |
| Customer segments* | |||||||
| Consumers | 81.6 | 81.3 | 0.3% | 159.9 | 155.7 | 2.7% | 369.6 |
| B2B (incl. wholesale) | 41.5 | 35.2 | 18.1% | 81.1 | 71.3 | 13.8% | 157.0 |
| Sales channels | |||||||
| Online | 88.0 | 80.6 | 9.2% | 173.8 | 154.8 | 12.3% | 366.5 |
| Offline | 35.1 | 35.9 | -2.2% | 67.2 | 72.2 | -7.0% | 160.0 |
| Product categories | |||||||
| Core categories** | 104.4 | 95.3 | 9.7% | 206.0 | 186.7 | 10.3% | 436.1 |
| Other product categories | 18.6 | 21.2 | -12.1% | 35.0 | 40.3 | -13.2% | 90.4 |
| Own brands*** | 7.7 | 9.2 | -16.8% | 14.2 | 16.5 | -14.3% | 35.2 |
| % OF TOTAL REVENUE | 4–6/26 | 4–6/25 | CHANGE, PP | 1-6/26 | 1-6/25 | CHANGE, PP | 1-12/25 |
| Customer segments* | |||||||
| Consumers | 66.3% | 69.8% | -3.5 | 66.3% | 68.6% | -2.3 | 70.2% |
| B2B (incl. wholesale) | 33.7% | 30.2% | 3.5 | 33.7% | 31.4% | 2.3 | 29.8% |
| Sales channels | |||||||
| Online | 71.5% | 69.2% | 2.3 | 72.1% | 68.2% | 3.9 | 69.6% |
| Offline | 28.5% | 30.8% | -2.3 | 27.9% | 31.8% | -3.9 | 30.4% |
| Product categories | |||||||
| Core categories** | 84.9% | 81.8% | 3.1 | 85.5% | 82.2% | 3.2 | 82.8% |
| Other product categories | 15.1% | 18.2% | -3.1 | 14.5% | 17.8% | -3.2 | 17.2% |
| Own brands*** | 6.2% | 7.9% | -1.7 | 5.9% | 7.3% | -1.4 | 6.7% |
| WEBSITE VISITS | 4–6/26 | 4–6/25 | CHANGE, % | 1–6/26 | 1–6/25 | CHANGE, % | 1–12/25 |
| Website visits, million | 19.4 | 18.1 | 7.0% | 38.4 | 35.9 | 6.9% | 83.2 |
*The comparative customer segment figures have been revised to reflect a reclassification of certain customer groups from B2B to Consumers.
**Core categories include five main categories: IT, Entertainment, Mobile devices, SDA, and MDA.
***Own brands are included in Core and other product categories accordingly.
APRIL–JUNE 2026
Operating environment
The Finnish consumer electronics market remained muted in April–May (GfK), with discretionary consumer spending continuing to be subdued. At the same time, the first signs of improvement in the broader Finnish economy began to emerge. According to the Bank of Finland, Q2 marked a turning point, with private consumption, exports, and investment expected to support growth going forward. Consumer confidence improved gradually, with the consumer confidence indicator reaching -5.3 in June, its highest level in four years (Statistics Finland). In this environment, Verkkokauppa.com continued to outperform the market and gain market share in April–May (GfK).
Revenue
Revenue increased by 5.7 percent to EUR 123.1 million (116.5). Growth was primarily driven by strong performance in the home appliances category. In addition, the IT category performed well, supported by the ongoing computer replacement cycle, although a decline in component sales partly limited the overall development of the IT category. International sales also grew significantly, with particularly strong growth in Sweden.
Consumer sales increased by 0.3 percent to EUR 81.6 million (81.3), accounting for 66.3 percent of revenue (69.8%). Continued softness in consumer demand weighed on growth, particularly in discretionary product categories. B2B sales maintained strong momentum, increasing by 18.1 percent to EUR 41.5 million (35.2). The share of B2B sales increased to 33.7 percent of revenue (30.2%), reflecting resilient demand among business customers and international growth. Growth was supported by the same strengths that drive Verkkokauppa.com’s consumer business. These included a broad assortment, competitive pricing, high product availability, fast deliveries, and strong service capability. Continued demand in the IT category also supported growth.
Online sales grew by 9.2 percent to EUR 88.0 million (80.6), increasing the share of online sales to 71.5 percent of revenue (69.2%). Growth was supported by an increase in website traffic and the continued adoption of fast delivery options among customers. Store sales declined by 2.2 percent to EUR 35.1 million (35.9), reflecting the continued shift toward online channels. The share of store sales decreased to 28.5 percent of revenue (30.8%).
Core categories' sales grew by 9.7 percent to EUR 104.4 million (95.3), accounting for 84.9 percent of revenue (81.8%). Growth was driven by broad-based development across product categories, particularly in home appliances and IT. Sales in other product categories declined by 12.1 percent to EUR 18.6 million (21.2), representing 15.1 percent of revenue (18.2%).
Own brand sales declined by 16.8 percent to EUR 7.7 million (9.2). The share of own brand sales of revenue was 6.2 percent (7.9%). The decline was driven by last year's HD transition, which particularly boosted own brand television sales and created an exceptionally strong comparison period.
Result
Gross margin was 16.6 percent (17.1%), reflecting the divestment of the consumer financing business in September 2025 and elevated campaign activity during the quarter. This was partly offset by dynamic pricing, improved supplier terms, and focused category management.
Personnel expenses increased by 5.5 percent and amounted to EUR 9.0 million (8.5). Other operating expenses decreased by 9.6 percent and amounted to EUR 7.4 million (8.2). The development was supported by a lighter cost base following the divestment of the consumer financing business and disciplined cost management.
Items affecting comparability amounted to EUR 0.0 million (-0.2) and were related to legal process associated with the administrative fine imposed by the Data Protection Ombudsman in 2024.
Verkkokauppa.com's operating result (EBIT) increased by EUR 0.7 million to EUR 2.5 million (1.8). Comparable operating result (comparable EBIT) increased by EUR 0.4 million to EUR 2.4 million (2.0).
Result for the period amounted to EUR 1.5 million (1.0). Earnings per share were EUR 0.03 (0.02).
JANUARY–JUNE 2026
Revenue
Revenue increased by 6.2 percent to EUR 241.0 million (227.0). Growth was driven by strong performance in the home appliances category. In addition, the IT category performed well, supported by the ongoing computer replacement cycle, although a decline in component sales partly limited its overall development. In addition, international sales grew significantly in the first half of the year, with particularly strong development in Sweden.
Consumer sales increased by 2.7 percent to EUR 159.9 million (155.7). The share of consumer sales decreased to 66.3 percent of revenue (68.6%). Consumer demand remained soft throughout the first half, particularly in discretionary product categories. B2B sales developed strongly, growing by 13.8 percent to EUR 81.1 million (71.3). The share of B2B sales increased to 33.7 percent of revenue (31.4%), 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 12.3 percent to EUR 173.8 million (154.8), increasing the share of online sales to 72.1 percent of revenue (68.2%). Development was supported by an increase in website traffic and the growing popularity of fast delivery options. Store sales declined by 7.0 percent to EUR 67.2 million (72.2), as the shift toward online channels continued. The share of store sales decreased to 27.9 percent of revenue (31.8%).
Core categories' sales grew by 10.3 percent to EUR 206.0 million (186.7). The share of core categories increased to 85.5 percent of revenue (82.2%). Growth was broad-based across product categories and was supported in particular by strong demand for home appliances and IT products. Sales in other product categories declined by 13.2 percent to EUR 35.0 million (40.3), representing 14.5 percent of revenue (17.8%).
Own brand sales declined by 14.3 percent to EUR 14.2 million (16.5). The share of own brand sales of revenue was 5.9 percent (7.3%). 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 17.0 percent (17.9%), 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 1.5 percent and amounted to EUR 17.6 million (17.3). Other operating expenses decreased by 2.8 percent and amounted to EUR 15.2 million (15.6). The decrease was supported by a lighter cost base following the divestment of the consumer financing business, but was offset by continued marketing investments.
Items affecting comparability amounted to EUR 0.0 million (-0.2) and were related to legal process associated with the administrative fine imposed by the Data Protection Ombudsman in 2024.
Verkkokauppa.com's operating result (EBIT) decreased by EUR 0.1 million to EUR 4.9 million (5.0). Comparable operating result (comparable EBIT) decreased by EUR 0.3 million to EUR 4.9 million (5.2).
Result for the period amounted to EUR 3.1 million (3.0). Earnings per share were EUR 0.07 (0.07).
FINANCE AND INVESTMENTS
In January–June 2026, operating cash flow totaled EUR -10.4 million (-15.0). The operating cash flow before the change in working capital was EUR 8.4 million (8.3). The company's net financial expenses were EUR -0.9 million (-1.2).
Investments in January–June 2026 were EUR 1.4 million (1.4) 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 0.6 million (0.5).
In June, the company refinanced 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 June. The arrangement extends the Group's debt maturity and provides flexibility to support liquidity in a business with cyclical cash flow patterns.
PERSONNEL
At the end of June 2026, the total number of employees was 613 (625). This includes both full and part-time employees.
CORPORATE SUSTAINABILITY
Verkkokauppa.com operated in line with its Sustainability Program, focusing on scaling circular economy services, ensuring responsible operations and supply chains, supporting employee wellbeing and development, and maintaining high standards of business conduct.
Sales of used products increased following the expansion of the assortment. The consumer trade-in service was relaunched in June.
Strengthening of procurement compliance processes continued and the rollout of the updated Supplier Code of Conduct progressed. Climate work related to the validation of science-based targets (SBTi) progressed according to the plan.
Employees’ AI capabilities were strengthened with the aim of developing the company’s strategic capabilities and improving employee experience. Measures to enhance occupational safety and mental wellbeing continued. The multilingual workplace was supported through internal communications.
Verkkokauppa.com continued to develop its internal policies, processes, and practices promoting responsible business conduct, among other actions by adopting a new Competition Law Compliance Policy.
The company intends to continue sustainability reporting on a voluntary basis, drawing on the European Sustainability Reporting Standards (ESRS).
STRATEGY
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 reliability 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 commercial 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
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 role 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.
LEGAL DISPUTES AND POSSIBLE LEGAL PROCEEDINGS
On 12 June 2026, the Supreme Administrative Court dismissed Verkkokauppa.com's appeal and upheld the administrative fine imposed on the company by the Sanctions Board of the Finnish Data Protection Ombudsman in March 2024. The company had previously disclosed the original fine on 15 March 2024 and the decision of the Helsinki Administrative Court on 24 February 2025. The provision for the fine was recognized in full in the first quarter of 2024, and the Supreme Administrative Court's decision has no impact on the company's 2026 result. The fine has been paid in June 2026.
KEY EVENTS DURING APRIL–JUNE 2026
Annual General Meeting 2026
The Annual General Meeting was held as a remote meeting in Helsinki on 14 April 2026. The Annual General Meeting adopted the Financial Statements for the financial year 2025, decided 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, and authorized the Board of Directors to decide on the repurchase and issuance of Verkkokauppa.com Oyj's own shares. In addition, the Annual General Meeting approved the proposals of the Shareholders' Nomination Board concerning the election and remuneration of the Board of Directors.
In accordance with the proposal of the Board of Directors, PricewaterhouseCoopers Oy was elected as the company's auditor and sustainability reporting assurance provider. Because of proposed legislative amendments, the current sustainability reporting obligations no longer apply to the company for the financial period 2026. Therefore, the sustainability reporting assurance provider was elected subject to the company drawing up a sustainability report for the financial period 2026 and obtaining assurance thereof. Mikko Nieminen (APA, ASA) acts as the principal auditor, and as the principally responsible sustainability reporting assurer if a sustainability report is drawn up and assured.
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 1 January–31 December 2025. The dividend is paid in four installments.
The first dividend installment of EUR 0.047 per share was paid to shareholders who on the dividend record date, 16 April 2026, were registered in the company's shareholders' register maintained by Euroclear Finland Oy. The dividend was paid on 23 April 2026.
The Annual General Meeting authorized the Board of Directors to resolve, at its discretion, on the distribution of the remaining dividend installments. The authorization will be valid until the opening of the next Annual General Meeting. Unless the Board of Directors resolves otherwise or applicable laws, regulations, or the rules of the Finnish book-entry system require otherwise, the authorization will be used to distribute dividend as follows:
| DIVIDEND | PRELIMINARY RECORD DATES | PRELIMINARY PAYMENT DATES |
| Maximum of EUR 0.048 | 20 July 2026 | 27 July 2026 |
| 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 installment and confirm the record and payment dates in connection with such resolutions.
After the reporting period, on 16 July 2026, the Board of Directors resolved to distribute the second installment of EUR 0.048 per share, with a record date of 20 July 2026 and a payment date of 27 July 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.
Share buyback program
On 19 May 2026, Verkkokauppa.com announced that its Board of Directors had resolved on a share buyback program based on the authorization granted by the Annual General Meeting on 14 April 2026. The maximum monetary amount to be used for the repurchases is EUR 5 million and the company may repurchase up to 2.5 million shares, representing approximately 5.5 percent of the total number of shares. The program commenced on 25 May 2026 and will continue until 31 January 2027 at the latest. Up to 100,000 shares will be retained for the company's share-based incentive plans, and the remaining repurchased shares will be cancelled. By 30 June 2026, the company had repurchased a total of 535,504 own shares for approximately EUR 1.56 million at a weighted average price of EUR 2.91 per share.
Updated long-term financial targets
On 28 May 2026, Verkkokauppa.com announced that its Board of Directors had approved updated long-term financial targets, which took effect immediately. The update followed a mid-term review of the company's strategy for the 2024–2028 period. Verkkokauppa.com's updated long-term financial targets are as follows:
- Revenue growth (CAGR) of more than 5% for 2026–2028, outgrowing the market (previously: annual revenue growth (CAGR) of more than 5% for the full strategy period 2024–2028, outgrowing the market)
- EBIT margin above 5% by the end of 2028 (unchanged)
Capital Markets Day 2026
Verkkokauppa.com hosted a Capital Markets Day for investors, analysts, and financial media in Helsinki on 28 May 2026. At the event, the company's management presented a mid-term review of the strategy for the 2024–2028 period, providing an update on strategic execution, business performance, and the priorities and key drivers for delivering on the updated long-term financial targets for the remainder of the strategy period. Recordings of the presentations and presentation materials are available on the company's investor website.
Flagging Notifications
On 2 June 2026, the company received a notification from TIND Asset Management pursuant to Chapter 9, Section 5 of the Securities Markets Act, according to which TIND Asset Management's ownership of the company's shares and votes had increased above the five (5) percent threshold. According to the notification, TIND Asset Management held a total of 2,371,892 shares in Verkkokauppa.com Oyj on 2 June 2026, an amount that corresponds to 5.23 percent of all shares and votes in the company.
Composition of the Shareholders’ Nomination Board
The Nomination Board consists of the company’s three largest shareholders or persons nominated by such shareholders. The right to nominate members is determined based on the shareholding on the last working day of May preceding the Annual General Meeting. The Chair of the Board is an expert member of the Nomination Board.
Verkkokauppa.com announced on 17 June 2026 that the members of the Nomination Board are:
· Samuli Seppälä, Founder of Verkkokauppa.com, representing himself
· Erkka Kohonen, Senior Portfolio Manager, nominated by Varma Mutual Pension Insurance Company
· Janne Kujala, Head of Nordic Equities, nominated by Evli Fund Management Company Ltd
At its organizational meeting on 17 June 2026, the Nomination Board elected Erkka Kohonen as its Chair.
Arja Talma, Chair of the Board of Verkkokauppa.com Oyj, acts as an expert member of the Nomination Board.
The Shareholders’ Nomination Board prepares proposals on the number, election, and remuneration of the members of the Board to the General Meeting. The Nomination Board shall submit its proposal to the Board every year by the last business day of February preceding the next Annual General Meeting.
KEY EVENTS AFTER THE REPORTING PERIOD
Dividend
On 16 July 2026, the Board of Directors resolved to distribute the second dividend installment of EUR 0.048 per share. The dividend record date is 20 July 2026, and the payment date is 27 July 2026.
SHARE TRADING AND SHARES
Verkkokauppa.com Oyj's shares (VERK) in Nasdaq Helsinki stock exchange in January–June 2026
| No. of shares traded | Share of shares outstanding, % | Total turnover value, EUR | Last, EUR | High, EUR | Low, EUR | Weighted average, EUR |
| 12,325,729 | 27.2% | 36,987,214 | 3.16 | 4.10 | 2.18 | 3.00 |
Verkkokauppa.com Oyj's market capitalization and shareholders on 30 June 2026
| Market capitalization (excl. own shares), EUR million | 140.9 |
| Number of shareholders (of which nominee shareholders) | 20,066 |
| Nominee registrations and direct foreign shareholders, % | 8.3 |
| Households, % | 52.5 |
| Financial and insurance corporations, % | 15.9 |
| Other Finnish investors, % | 23.3 |
Source: Euroclear, 30 June 2026.
At the end of June 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 (8.1%), 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 June 2026, the share capital was EUR 100,000 and the total number of shares in the company was 45,354,532 including 758,963 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 1.67 percent of all shares.
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.
SHORT-TERM RISKS AND BUSINESS UNCERTAINTIES
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 fourth 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
Compliance, cybersecurity, and regulatory risks relate to tightening EU regulation, data protection, product safety, and cyber threats. 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 through 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, 16 July 2026
Verkkokauppa.com Oyj Board of Directors
RESULTS WEBCAST
A live webcast for analysts, investors, and financial media will be held on Thursday, 16 July 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-q2-results.
UPCOMING FINANCIAL RELEASES AND EVENTS
Verkkokauppa.com publishes its financial reports as follows:
• Interim report for January – September 2026 on Thursday 22 October 2026
• Financial statements bulletin for the year 2026 on Friday 12 February 2027
MORE INFORMATION
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 one-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.