Profit warning: Verkkokauppa.com adjusts its business operations to meet the decreased demand and makes a write-down related to the streamlining of its assortment - preliminary information on the financial development of 2022

Profit warning: Verkkokauppa.com adjusts its business operations to meet the decreased demand and makes a write-down related to the streamlining of its assortment - preliminary information on the financial development of 2022

Verkkokauppa.com Oyj         Stock Exchange Release, Inside information      16 January 2023 at 9:50 EET

Verkkokauppa.com adjusts its business operations to meet the decreased demand and launches a profit improvement program. As part of the program, the company streamlines its assortment and makes a write-down of EUR 1.6 million related to the inventory.

In the financial guidance given on 24 October 2022 for the full year 2022, the company expected the revenue to be between EUR 530–560 million (in 2021: EUR 574.5 million) and comparable operating profit (comparable EBIT) to be between EUR 5–9 million (in 2021: EUR 20.3 million) in 2022.

Preliminary key figures (unaudited)

Verkkokauppa.com’s fourth quarter 2022 revenue was EUR 155.1 million and comparable operating profit (comparable EBIT) EUR 0.7 million. The comparable operating profit includes the write-down related to inventory of EUR 1.6 million, which negatively impacted the comparable operating profit for the fourth quarter and full year. After the write-down, the company's operating profit for the fourth quarter was EUR 0.7 million.

EUR million	10-12/2022	1-12/2022
Revenue	155.1	543.3
Operating profit	0.7	2.2
Comparable operating profit	0.7	3.5

Verkkokauppa.com will publish its 2022 Financial Statements bulletin on 9 February 2023 around at 8.00 EET.

Verkkokauppa.com Oyj

More information:
Panu Porkka, CEO, Verkkokauppa.com Oyj
[e-mail]

Mikko Forsell, CFO, Verkkokauppa.com Oyj
[e-mail]
Tel. [phone]

Marja Mäkinen, Head of Investor Relations and Corporate Communications
Verkkokauppa.com Oyj
[e-mail]
Tel. [phone]

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 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. ]

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