Skip to main content

Verkkokauppa.com: Profit warning: Weak consumer confidence and high inflation undermines outlook for the second half of the year – Company lowers its financial guidance for 2022

Written by Customer Service on . Posted in Public Companies.

Verkkokauppa.com         INSIDE INFORMATION                13 July 2022 at 8:00pm EEST

Verkkokauppa.com: Profit warning: Weak consumer confidence and high inflation undermines outlook for the second half of the year – Company lowers its financial guidance for 2022

Verkkokauppa.com’s business environment has continued to be challenging. Consumer confidence is at an all-time low and inflation continues to grow. This has undermined consumers’ purchasing power and dampened discretionary demand. In light of this development in the operating environment, demand and costs, the company estimates that its revenue and operating profit will fall short of its previous estimates.

New guidance for 2022:
The company expects the revenue to be between EUR 530–570 million (in 2021: EUR 574.5 million) and adjusted operating profit (adjusted EBIT) to be between EUR 8–14 million (in 2021: EUR 20.4 million) in 2022.

The financial guidance includes the acquisition of e-ville.com. The impact of the acquired e-ville.com operations on Verkkokauppa.com are estimated to be of EUR 5-8 million on Verkkokauppa.com’s revenue in 2022. The acquired business was consolidated into Verkkokauppa.com’s figures from the beginning of the second quarter of 2022.

Previous guidance for 2022, published on 23 March 2022:
The company expects the revenue to be between EUR 530–590 million (in 2021: EUR 574.5 million) and comparable operating profit (comparable EBIT) to be between EUR 12–19 million (in 2021: EUR 20.4 million) in 2022.

Verkkokauppa.com will publish its Half-year 2022 Financial report on 14 July 2022 around at 8.00 EEST.

More information:
Panu Porkka, CEO
Verkkokauppa.com Oyj
panu.porkka@verkkokauppa.com

Marja Mäkinen, Head of Investor Relations and Corporate Communications
Verkkokauppa.com Oyj
marja.makinen@verkkokauppa.com
Tel. +358 40 671 2999

Distribution:
Nasdaq Helsinki
Main media
www.verkkokauppa.com

Verkkokauppa.com empowers its customers to follow their passion by providing a wide product assortment of around 80,000 products. Verkkokauppa.com Oyj serves its retail and corporate customers through its webstore, megastores, 24h 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 more than 750 people and its shares are listed on the Nasdaq Helsinki stock exchange with the ticker VERK.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.