Verkkokauppa.com Oyj · OMXHEX:VERK
Verkkokauppa.com Oyj — Q4 2025 Earnings Presentation
25 slides from Verkkokauppa.com Oyj's earnings presentation, Feb 12, 2026
Slide 1: 2025 Concluded With 20% Fourth-Quarter Revenue Growth
2025 CONCLUDED WITH 20% FOURTH-QUARTER REVENUE GROWTH Verkkokauppa.com Oyj Financial Statements Bulletin 12 February 2026 | Panu Porkka, CEO
Slide 2: Q4 2025 Results
Q4 2025 RESULTS 01 Operating environment 02 Q4 2025 performance 03 Strategy execution 04 Market outlook and guidance 05 Key takeaways 2
Slide 3: Operating Environment
OPERATING ENVIRONMENT 3
Slide 4: Cautious Consumers, But Improving Market Signals Toward Year-End
CAUTIOUS CONSUMERS, BUT IMPROVING MARKET SIGNALS TOWARD YEAR-END Consumer confidence in Finland Q4/2025 development • Consumer confidence remained weak in Q4, despite -7.6 -7.2 -7.2 -6.8 -7.4 -7.4 -6.4 -7.6 -6.6 -7.6 -6.5 -7.3 some improvement in consumers’ assessment of their -9.1 -9.5 -9.4 -8.1 -8
Slide 5: Q4 Performance
Q4 PERFORMANCE 5
Slide 6: Significant Revenue Growth Reflecting Ongoing Online Transition
SIGNIFICANT REVENUE GROWTH REFLECTING ONGOING ONLINE TRANSITION Quarterly revenue (MEUR) +20.1% Q4/2025 development 168.3 140.2 131.2 Strong Q4: Revenue increased by 20.1% compared to 108.0 105.5 114.2 110.5 116.5 the previous year to MEUR 168.3 (140.0), driven by strong commercial performance acros
Slide 7: Margin Resilience Maintained In A Highly Promotional Environment
MARGIN RESILIENCE MAINTAINED IN A HIGHLY PROMOTIONAL ENVIRONMENT Gross profit (MEUR) Q4/2025 development +18% 27.4 23.3 20.8 19.9 21.8 • Gross profit increased to 27.4 MEUR (23.3), 18.7 17.3 16.6 supported by strong campaign execution and higher sales volumes • Gross margin remained resilient at 16.
Slide 8: Revenue Growth And Operational Efficiency Drove Strong Profitability Improvement
REVENUE GROWTH AND OPERATIONAL EFFICIENCY DROVE STRONG PROFITABILITY IMPROVEMENT Key figures EUR million Q4/2025 Q4/2024 Change Q4/2025 development Revenue 168.3 140.2 +20.1% Gross profit 27.4 23.3 +4.2 MEUR • Strong profitability improvement driven by significant Personnel costs 9.8 9.6 +1.6% reven
Slide 9: Inventory Optimized To Meet Demand
INVENTORY OPTIMIZED TO MEET DEMAND Inventory (MEUR) +27% 70.5 72.5 69.5 69.5 65.3 65.9 64.9 51.1 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q4/2025 development • Inventory levels were actively managed to meet demand and stood at 64.9 MEUR (51.1) at the end of the quarter • The c
Slide 10: Strong Financial Position At Year-End
STRONG FINANCIAL POSITION AT YEAR-END Cash flow from operations (MEUR) -14.1 Q4/2025 development 29.6 21.1 • Cash flow from operating activities decreased to 7.0 7.0 MEUR (21.1), reflecting seasonal working capital build-up 2.2 2.6 and continued investments supporting future growth -0.3 • Equity rat
Slide 11: FY2025: Successful Year With Clear Turnaround In Profitability
FY2025: SUCCESSFUL YEAR WITH CLEAR TURNAROUND IN PROFITABILITY REVENUE GROSS PROFIT COMPARABLE EBIT CASH FLOW FROM OPERATIONS 526.5 MEUR 89.9 MEUR 14.8 MEUR 21.6 MEUR (467.8 MEUR) (75.8 MEUR) (1.8 MEUR) (12.9 MEUR) +12.5% +18.6% +13.0 MEUR +8.7 MEUR 11
Slide 12: Strategy Execution
STRATEGY EXECUTION 12
Slide 13: Fast Deliveries Continued To Scale Significantly
FAST DELIVERIES CONTINUED TO SCALE SIGNIFICANTLY Quarterly volume of one-hour deliveries +96% Q4/2025 development • One-hour deliveries increased by 96% compared to the previous year, driven by accelerating customer adoption and supported by strong customer satisfaction (NPS 77) • Locker pick-ups in
Slide 14: International Operations Delivered Strong Growth During The Peak Season
INTERNATIONAL OPERATIONS DELIVERED STRONG GROWTH DURING THE PEAK SEASON International revenue growth (MEUR) Q4/2025 development 89% 17.6 • International revenue increased by 89% to EUR 17.6 million, driven by strong growth in Sweden and continued momentum from key accounts in Central Europe • Revenu
Slide 15: Progress On Sustainability Embedded In Daily Operations
PROGRESS ON SUSTAINABILITY EMBEDDED IN DAILY OPERATIONS Own CO2 emissions tCO2e FY 2025 development -99% 581 • Circular economy scaled further • Used products and circular services expanded 481 • Return rate remained low at 0.7% • Own operations’ emissions reduced to zero by the end of 2025 319 • Re
Slide 16: Dividend Proposal
> aaa : o~ DIVIDEND PROPOSAL
Slide 17: Dividend Proposal By The Board Of Directors
DIVIDEND PROPOSAL BY THE BOARD OF DIRECTORS • Board proposes a maximum dividend of EUR 0.194 per share for FY2025 • Payment structure: Dividend proposed to be paid in four instalments • Payout ratio: 70.6% * • Dividend yield: 4.9% ** • Earnings per share EUR 0.27 Dividend policy: 60–80% of annual ne
Slide 18: Market Outlook And Guidance
MARKET OUTLOOK AND GUIDANCE 18
Slide 19: Market Outlook
MARKET OUTLOOK • General market demand is expected to recover only gradually in 2026 amid subdued consumer confidence • Private consumption is forecast to start growing during the year as real earnings increase and the labor market slowly strengthens • Purchasing power is supported by moderate infla
Slide 20: Guidance For 2026
GUIDANCE FOR 2026 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
Slide 21: Key Takeaways
KEY TAKEAWAYS • Strong Q4, with revenue up 20.1% compared to the previous year to EUR 168.3 million Consumer confidence weakened further, • Full-year performance showed a clear turnaround, with revenue up and consumers were still cautious about 12.5% to EUR 526.5 million and comparable EBIT improvin
Slide 22: Verkkokauppa.com
VERKKO KAUPPA COM
Slide 23: Quarterly Key Figures
23 2025 ar a2 a3 Revenue, eur milion 1105 1165 131.2 1683 Gross profit, eur milion 208 199 218 274 Gross margin.% 188% 17.1% 166% 16.3% EBITDA, eurrnilion 4934 89 70 EBITDA 44% 3.0% 6.8% 4.1% Operating esuit, eur milion 3218 72 82 Operating margin-% 29% 15% 55% 3.1% Comparable operating result eurmi
Slide 24: More Information
MORE INFORMATION Upcoming Financial Events Investor Relations Contacts Date Event Week 11 2026 Annual reporting package for 2025, including Jesper Blomster the Report of the Board of Directors and the Chief Financial Officer Financial Statements, Corporate Governance jesper.blomster@verkkokauppa.com
Slide 25: Verkkokauppa.com
VERKKO KAUPPA COM